Senior Accountant Reinsurance

Job details
Posting date: 26 January 2021
Salary: Not specified
Additional salary information: Salary dependent on experience
Hours: Full time
Closing date: 25 February 2021
Company: AXA UK
Job type: Permanent
Job reference: 210000IA

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We are looking for a Senior Accountant to lead, support and perform Reinsurance (RI) accounting processes within the AXAUK Record to Report team in a manner that ensures complete and accurate accounting records are maintained, and appropriate financial information and other services are provided to both internal and external customers of the Finance function.

You will love this job if you:

Are excited by designing and building processes for a new future
Are curious and love solving problems
Relish being technically challenged and understanding new things
Enjoy meeting new people, influencing others, and working as part of a wide team

You will hate this job if you:

Prefer to hide behind spreadsheets and emails
Like to be told exactly what to do
Like the mundane and routine
Find creating new things scary

The position is a key role in the Record to Close team, and the incumbent will be expected to repatriate the work currently undertaken in AXA Business Services and the RI Underwriting team to the UK Record to Close team, whilst maintaining BAU. They will be expected to liaise with the Reinsurance team in the UK to streamline processes, make efficiency savings and create a comprehensive portfolio of process for RI accounting.

During 2021-2023 there will be a major transition towards reporting under IFRS 17 insurance contracts. The role will be instrumental in determining the future end state of RI reporting under the new standard. There will be strong links between the Record to Close, Reinsurance, Actuarial and Project teams to ensure the project plan deliverables are achieved for implementation of the standard in 2023 and following years until a stable state is achieved.

They will provide technical advice to colleagues and customers on process and accounting matters, working closely with the Record to Close team to ensure all customer requirements are met. They will be expected to take the lead for reinsurance and proactively react to the rapidly changing insurance accounting environment.

Whilst the environment may be challenging, the role provides the job holder with the opportunity to develop and interact with a wide network of contacts, at the same time developing their technical accounting skills. There will be a good balance of core monthly reporting and project work.

There are several formal controls in operation and other regulatory requirements that need to be adhered to.

Key Accountabilities

Migration of work

Fully understand and document the accounting RI processes, systems and controls in operation in the AXA Business Services (ABS) team and the RI Underwriting team.
Plan, manage and execute the migration of work from ABS and from the RI Underwriting team to the UK Record to Close team in a manner that ensures controls operate effectively, BAU is not interrupted, and appropriate knowledge and expertise resides in the UK Accounting team.

Business as Usual

Lead and perform the processes to control, update and maintain the General Ledger accounting records for AXA Insurance UK plc Reinsurance accounting, thereby enabling the production of complete and accurate internal and external reports, including:

Preparation of IFRS income statements and balance sheets and supporting reports in accordance with local management and Group requirements
Preparation of data and schedules to support regulatory returns
Preparation of data and schedules to support the Reinsurance underwriting team.

Maintain a robust framework of internal controls to ensure that accounting records maintained are complete, accurate and reliable.
Provide a focal point for Reinsurance accounting.
Identify, design and implement improvements to production processes to increase efficiency.
Define and provide financial information, interpretation, analysis and support to customers, thereby enabling an improved understanding of the information provided.
Produce ad hoc financial information, interpretation, analysis and support to customers, thereby enabling an improved understanding of the information provided.


Lead the implementation of IFRS 17 accounting standard for Reinsurance accounting, by:

Understanding the technical requirements of the standard
Establishing the gaps between the current state BAU and the future state BAU
Leading the design, build and implementation of the IFRS17 Reinsurance systems, processes and controls.

Based in our Ipswich office but with great home working flexibility

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