Job Description

Grafton Banks Finance is recruiting a Capital and Reinsurance Manager for a successful and expanding general insurance business. The role can be based in the Gatwick, Manchester or Gibraltar offices one day per week or 100% remotely for the right candidate. The role plays a large part in embedding a capital focused culture into business decision making at all levels and ensuring compliance with all regulatory obligations.Candidates need to understand Solvency II capital requirements and their principles and have demonstrable experience in Capital Management within a general insurance business in the past.

Key experience required includes:

• You\xe2\x80\x99re a Qualified Accountant (ACCA, CIMA, ACA or equivalent) or you\xe2\x80\x99re suitably skilled through your experience.
• You\'ve experience of leading the narrative and submission of compulsory capital returns, such as SFCR and ORSA in your toolkit.
• Experience within a general insurance business
• Good understanding of the calculation of Solvency II capital requirement / own funds and how the principles of Solvency II are applied to general insurers
• Understanding of regulatory submissions

Key Responsibilities include:

Capital

• Lead the narrative and timely submission of compulsory capital returns \xe2\x80\x93SFCR and ORSA
• Support embedding the capital function into the business and establish a capital focused culture among finance colleagues and trading / pricing decision makers
• Provide guidance to senior executives on the impact of proposed regulatory changes arising from increased supervision from the GFSC, develop decision making aids to navigate potential issues and provide appropriate recommendations
• Support external Legal / Regulatory experts in understanding the capital position and the results of stress scenarios to facilitate their discussions with the regulator on proposed changes to capital or group structure

Reinsurance

• Lead all BAU reinsurance processes, reinsurance bordereau review, forecast / planning assumptions, month end review, cash flow forecasting and sign off BS reconciliations.
• Own the day to day strategic partnership with external underwriting broker, ensure ongoing compliance with reporting timescales and co-ordinate ad hoc data requests
• Support the strategic decision-making and placement of the Company\xe2\x80\x99s QS and XOL reinsurance programmes, ensuring appropriate cost/benefit analysis and cost of capital calculations to ensure reinsurance programme is optimised and aligned with Company\xe2\x80\x99s strategic objectives
• Co-ordinate with external reinsurance broker to explore alternative reinsurance and risk transfer solutions to drive increase effectiveness of reinsurance programme and maximise return on capital
• Support the annual renewal process with Group Chief Underwriting Officer and Head of Capital and Reinsurance

Corporate Projects

• Leading the analyse the capital impact of new corporate initiatives, working with the Capital Manager to produce solvency projections and relevant stress tests for both Group
• Produce material for board and regulator engagement on new corporate initiatives reflecting the solvency and capital impact

Change Management

• To lead working groups with the wider finance team to adapt existing financial processes to satisfy business requirements and support commercial decision making as we adapt and grow through external advice (New reinsurance structures, new metrics, market best practice on internal reporting, transferring of Own Funds into Financial reporting team)

This is an excellent opportunity for someone with the above skills and experience to work in a growing business with a flexible approach to work and excellent benefits package to include a bonus scheme, excellent pension, health care, life cover and many other benefits.

Grafton Banks Finance