Financial Controls Manager

Liberty Mutual Re; Greater London; On-site; GBP 60,000 - GBP 80,000; Full time

Job summary

A leading global insurer is looking for a dedicated individual in Greater London to manage and enhance the Financial Control Framework (FCF). The ideal candidate will have experience in a global Finance department, specializing in Financial Controls and Operational Risk. Responsibilities involve overseeing the FCF, supporting business processes, and ensuring compliance with regulatory requirements. Excellent communication, stakeholder management, and problem-solving skills are essential for success in this role. Competitive salary and opportunities for career development are offered.

Benefits

Career development opportunities

Diversity, equity, and inclusion initiatives

Supportive corporate culture

Qualifications

• Practical experience in a global Finance department focusing on Financial Controls and Operational Risk.
• Experience in a Financial Services environment, preferably in Lloyd's or commercial insurance.
• Proven track record in change-impacted environments.

Responsibilities

• Manage day-to-day implementation of the Financial Control Framework.
• Support business in designing and implementing key controls.
• Test the effectiveness of controls quarterly to ensure operational efficacy.

Skills

Excellent communication skills

Stakeholder management

Analytical skills

Collaboration skills

Problem-solving ability

Education

Qualified accountant (beneficial)

Job description

This role will help manage, maintain, and improve the Financial Control Framework (FCF) which LSM Finance in London will be responsible for embedding and delivering within processes and systems, whilst ensuring that the FCF is aligned with the LSM Risk Management Framework and Risk Appetite. The FCF leverages the relevant principles of a Sarbanes Oxley (“SOx”) control framework, whilst applying a more risk-based approach to create a ‘SOx-Lite’ environment. A key focus of this role will be the application of a holistic view to ensure Finance as a whole and as part of 1 Global GRS delivers to the various stakeholder requirements whilst delivering to its strategic vision and our guiding principles. A key element of the role will be to manage and oversee the FCF assurance and testing to be performed in line with Group’s expectations.

About the Department & Team:

Finance in London consists of circa 100 FTE and has a number of key roles:

• To partner the business to enhance decision making with a focus on strategy, planning, analysis and reporting. Support is provided both to two management ‘Demand Pillars’ of GRS Reinsurance and GRS International – and also to the supporting functions within GRS
• To ensure that all external financial reporting requirements (statutory, regulatory, tax, capital etc) are fulfilled. GRS International consists of a Lloyd’s Syndicate, a UK insurance company with European branches, a number of small service companies and a portion of a US balance sheet
• To provide insightful performance analysis on the GRS International legal entities to the Legal Entity Management Committees enabling effective performance planning and management
• To report to our US Parent on standard monthly requirements and ad-hoc requests on both a pillar and a legal basis
• To ensure superior management of our investments, cash and all financial risks
• To give finance operations support to the business and finance. Finance strives for continuous improvement in all areas and aims for excellent customer service, supported by quality and efficient processes, all operating within a robust control environment

Key Responsibilities:

• Manage the implementation of the FCF on a day-to-day basis. Support the business in the design and implementation of key controls.
• Advance the FC team to be the centre of excellence for controls to support the business as the control environment matures.
• Liaise with branches, Group Finance, and legal entity finance divisions, and align with Risk Management to co-ordinate the FCF implementation.
• Advise and support risk and control owners within the business in identifying the risk and designing key controls from time to time where this may be necessary due to gaps in control or process changes.
• Evaluate and monitor the design criteria for controls designed in the FCF within the scope of those controls aimed at mitigating the risk of financial misstatement.
• Test the operating effectiveness of controls on a quarterly basis on a sample basis to monitor the operating effectiveness of key controls. Manage the relationship and deliverables of the external testing service provider. Manage the SOX assurance process of the SOX controls, reporting to Group and remediating control failures.
• Support the business to remediate weaknesses in the design and operation of controls where these are identified and promote an understanding and awareness of minimum standards expected for good controls. Always look for opportunities to improve and enhance the control environment.
• Implement and manage the financial controls aspects of the European Branch Control Framework.
• Work with key partners across Finance to ensure the close, audit and control processes meet the agreed criteria.
• Manage the internal audit processes, facilitating resolution of findings to ensure adherence to various regulatory regimes.
• Enhance relationships with the Risk Management, Compliance and Audit teams.
• Provide ad-hoc support to Risk Management led initiatives.
• Provide support in facilitating the execution of the External Audit across GRS International Finance.
• Manage the remediation and tracking of the EY Improvement Ideas report.
• Preparation of reporting pack to the CFO Committee.
• Support internal and external stakeholders to help ensure Finance frameworks, processes and functions continue to align to the Finance Target Operating Model guiding principles, participating in relevant forums representing Finance controls.
• Drive a customer-focused culture with embedded control frameworks.
• Build appropriate channels for communication and leadership, ensuring alignment, and enabling sharing of information through collaboration.
• Promote GRS behaviours and support the delivery of cultural change.
• Work closely with the wider Finance and Actuarial departments to ensure a cohesive environment.
• Contribute to the delivery of the Security and Controls workstream within the finance target operating model as required.
• Adherence to all relevant regulatory requirements forms part of your role, this includes GRS’s Conduct Risk Framework, as it relates to your role. GRS expects you to understand your responsibilities relating to Solvency II and to GRS’s Conduct best practices and to proactively demonstrate compliance with these requirements and behaviours at all times.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing

Skills and Experience:

We are looking for an ambitious individual with excellent communication, collaborative and stakeholder management skills. The successful candidate will have the following experience and qualifications:

• Practical experience within a global Finance department in a similar role (Financial Controls, SOX and/or Operational Risk) with practical knowledge of end-to-end Finance processes and controls.
• Proven experience in a Financial Services environment, ideally within Lloyd’s or commercial insurance.
• Good, all round, technical knowledge.
• Experience in a change impacted environment.
• Qualified accountant is a benefit.
• Experience of operating with a US parent and with multiple geographic locations is a benefit
• Track record of identifying and analysing problems, identifying & evaluating options, deploying sound decision making skills.
• First class report writing skills, ability to develop and present ideas and reasoned arguments clearly and concisely to various audiences.
• Knowledge in Insurance and Finance processes, with the ability to communicate and challenge appropriately.
• Team player, energised, self-motivated with a positive outlook and “can do” attitude
• A collaborative approach allowing the individual to develop strong positive working relationships with other members of the wider finance team and the business as a whole
• Good peer influencing skills and the ability to work comfortably in a complex matrix environment and to interact constructively with a wide variety of personality types
• Promote GRS behaviours and comfortable with ambiguity.
• The drive, energy and initiative to spot what needs doing and to run with things
• Ability to work effectively to tight deadlines.
• A service oriented attitude to delivering the business requirements.
• Strong organisational, written and verbal communication skills.

About Liberty Specialty Markets (LSM)

Liberty Specialty is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

· Offering a vibrant and inclusive environment and committing to their career development.

· Promoting diversity, equity and inclusion (DEI). OurInclusion Matters frameworkand employee-led networks strengthen the diversity of our workforce and our inclusive environment.

· Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.

· A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

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