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Senior Financial Reporting Accountant

Full Time Accounting Insurance Media

Job Description

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Senior Financial Reporting Accountant to join its Reporting & Financial Management department. You will effectively collaborate across Finance and the wider business to deliver, as part of a team, all statutory reporting for PIC Group, including year-end accounts for c. 30 entities and the half year reports for both PIC plc and PICG Group.

You will also support the delivery of improvements to the year-end process, solve problems and mitigate risks as they arise to ensure both a high quality and a timely delivery are achieved.

Specific accountabilities assigned to the role of the Senior Financial Reporting Accountant:

  • Production of all the external IFRS reporting produced by the Finance function including:
  1. The Annual Report and Accounts for the Group and it’s UK subsidiaries; and
  2. The half year published Investor Report for the Group.
  • Responsible for improving the current statutory and other reporting processes, improving existing controls and enhancing the quality of the final outputs for all the above documents.
  • Responsible for reviewing the content and quality of the external reporting, benchmarking against peers and recommending improvements.
  • Supporting other members of the team as required in the production of management information and regulatory reporting deliverables.
  • Responsible for managing the relationship with and providing oversight of external accounting firms that prepare accounts for smaller investment subsidiaries in the Group.
  • Supporting the preparation of all required papers to the Audit Committee and Board relating to statutory reporting.
  • Development of technical papers supporting any new accounting policies or treatments required together with supporting evidence.
  • Building and maintaining a strong relationship with the external auditors on the year end audit.
  • Acting as Finance lead on any relevant company-wide projects or initiatives.
  • On an ongoing basis, review existing policies and procedures to ensure that the statutory reporting processes are sufficiently well controlled, and are working efficiently.

Requirements

Knowledge:

  • Detailed knowledge of the Insurance industry and the relevant reporting metrics such as IFRS and Solvency II.
  • Experience gained from other reporting roles.
  • Knowledge of International Financial Reporting Standards (IFRS)
  • Sound technical understanding of life and pensions accounting
  • Extensive knowledge of each element of the Microsoft Office package

Experience:

  • Life Insurance industry experience
  • Experience of Oracle Fusion and Oracle FCCS
  • Experience of using the SmartView excel add-in
  • Experience of Workiva
  • A good understanding of IFRS 17 and its application to Life insurance companies.
  • Knowledge of the regulatory reporting and the Solvency II regime.

Skills:

  • Ability to analyse complex problems and propose solutions
  • Ability to work under pressure towards tight deadlines
  • Ability to prioritise and distinguish what really matters amongst a large quantity of information and make judgement calls • Strong communication and influencing skills
  • Ability to drive change and contribute to ongoing projects and initiatives

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.

Pension Insurance Corporation
About Pension Insurance Corporation

Pension Insurance Corporation (PIC) is a company with a clear purpose, a strong link to the creation of social value, and a culture that allows our employees to grow with the company and see the contribution they make to our success. PIC pays the pensions of hundreds of thousands of members and former members of UK defined benefit pension schemes.

We invest in long-term assets, like UK infrastructure and regeneration projects, to provide the very long-term cashflows we need to pay those pensions over the coming decades. These investments have the beneficial outcome of supporting jobs and apprenticeships, driving economic growth, and creating significant social value.

Our objective is to create long-term social value as we fulfil our purpose, leading to sustainable  benefits for the economy, the environment and society. It gives our policyholders, employees, and others a sense of community and engagement as we continue to transition to a more green and sustainable way of working. There are four distinct pillars:  

  1. Protecting the environment by transitioning to Net Zero, meeting our carbon commitments 
    and increasing the positive biodiversity impact of our real assets.
  2. Being a responsible investor by integrating ESG into our investment processes, active participation in ESG industry initiatives, as well as investing in Sustainable Assets and mapping the impact they create.  
  3. Making communities sustainable, safe, and inclusive by investing across the UK in assets that provide essential services, helping turn brownfield assets into greener alternatives, providing local employment and skill development opportunities and providing financial and non-financial charity support.
  4. Long-term sustainable business by promoting a culture that is inclusive and diverse, providing detailed and transparent reporting, and ensuring long-term alignment of stakeholders.

We are proud to be an equal opportunity employer: we treat everyone equally, regardless of age, gender identity, race and ethnicity, disability, neurodiversity, sexual orientation or religion. Our DEI activity is incorporated into our hiring process and the makeup of our organisation.

PIC supports several DEI initiatives through corporate sponsorship including Social Capital 
Network, the Actuarial Mentoring Programme (AMP), LGBT Great, GAIN (Girls Are INvestors), the 10000 Interns Foundation and Women In Banking & Finance, which provides female colleagues, at all levels, with access to development and networking opportunities, and the business with channels to recruit more female talent. We have a PIC Women’s Network and a dedicated Diversity, Equity and Inclusion Forum, which is comprised of employees from across the business.

Our gender pay gap figure of 11.4% is below the financial services indicative average of 22.7%. PIC recruited approximately 146 new joiners since 2022 and of these, 43% were women.

Outside of our day-to-day roles, our people enjoy a variety of events throughout the year which 
bring us altogether, including: sports teams, including netball and football, monthly Town Halls, our famous annual Treasure Hunt, our summer PICnic, tyPICal Days, and charity fundraisers e.g. End of Summer Party, annual quizzes. The notions of making a difference and giving back are a key part of life here at PIC.

Our two main charity partners are Independent Age and Rethink Mental Illness with various events occurring throughout the year such as half marathons. We encourage our people to participate by offering two days’ volunteer leave per year and also match charitable fundraising.

Depending on your role, what you need and what the business needs, we may support you in gaining a professional qualification. Our dedicated Learning & Development team is here to support you, creating learning environments where you can continuously develop to reach your potential and meet your career goals. Learning is about much more than just attending courses, and includes classroom training, virtual training, digital training, coaching, mentoring, and knowledge sharing events. During 2023, we were delighted to be awarded Investors in People Silver Award.

Workplace Initiatives

  • Programme for parents returning to work after Parental Leave? Yes
  • Leadership development programmes? Yes
  • Mentoring programmes? Yes
  • Coaching programmes? Yes
  • Employee-led diversity networks? Yes
  • Internal women’s networking groups? Yes
  • Open to discussing flexible work arrangements at interview stage? Yes
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