This role is based in Gibraltar.
Admiral Insurance (Gibraltar) Limited (AIGL) is the largest underwriting entity within the Admiral Group plc – a FTSE 100 financial services group headquartered in the UK with over 9 million customers and an annual turnover in excess of £3.5 billion.
AIGL is looking to expand its finance team in Gibraltar and is seeking to recruit a Regulatory Reporting Manager. This is a real opportunity within a FTSE 100 Group to shape systems and processes and be an integral part of the Finance function in Gibraltar.
Key aspects of the role:
Reporting to the CFO, the remit of this role covers all aspects of SII reporting, analysis and planning. The role holder will be a qualified accountant (ACA/ACCA) with 3+ years of PQE with significant experience of SII reporting. You will have the organisational ability to deliver a solid reporting process with the insight and emotional intelligence to challenge the inputs to the process and anticipate issues. The output from the regulatory reporting process is reviewed and consumed by the AIGL Board, the Gibraltar Financial Services Commission (GFSC) and senior Admiral Group stakeholders so a focus on data quality and control is essential. Candidates will have a desire to progress their career at Admiral and would be expected to grow into increased responsibilities over time. AIGL is a small but rapidly growing part of the group so a problem solving and entrepreneurial approach is a must. Confidence in working with standard formula outputs as well as experience of internal model development and reporting an advantage.
Key Duties and Responsibilities:
- Be responsible for Admiral Insurance Gibraltar Limited’s (AIGL) regulatory reporting, with key deliverables as follows:
- AIGL’s solvency II reporting to the Gibraltar regulator, the GFSC, on a quarterly and annual basis:
- 4 quarterly QRTs , 1 annual QRT, contribution to the single Group SFCR (as below)
- Papers supporting submissions to be prepared for Finance Management Review Group
- Solvency reporting input to regular Management Information prepared for AIGL Board
- Regular preparation of solvency monitoring information to be prepared as required and included in quarterly packs for the Group Asset Liability Committee
- Prepare regular monitoring of the SII VA (Volatility Adjustment)
- Contribution to the preparation of the Group's Annual SFCR (Solvency and Financial Condition Report) and other narrative regulatory reports
- Work closely with the AIGL accounting team, Group Actuarial Reserving and Group Capital teams to prepare regular solvency ratio forecasts for AIGL, stress testing and other scenarios
- Preparation of ad-hoc analysis to support business decisions such as dividends, reinsurance placements and investment options
- Preparation of information submissions to meet ad-hoc data requests from the GFSC
- Develop and maintain good relationships with the wider finance, risk and actuarial team, working closely with all teams to understand and be able to challenge processes and data such as AIGL’s Solvency II Technical Provision models, calculations, and other reporting to the Reserving Committee
- Maintain and enhance a strong financial control environment within all processes noted above, including an assessment of current process and system provision and the potential to develop the current process or implement new solutions.
- Stay close to the Group’s Solvency II Internal Model Programme, in particular in relation to the Own Funds and SCR (including deferred tax/LACDT) projections for AIGL
- Work closely with the actuarial reserving and capital teams on regular data quality assessments in line with Solvency II requirements and the Group’s Data and System Policy
Salary, Benefits and Work-Life Balance
We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.
At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we’re consistently voted one of the Sunday Times Best Big Companies to work for in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.
All colleagues will receive 33 days holiday (including banks holidays) when they join us, and this will increase with length of service, up to a maximum of 38 days (including banks holidays). You also have the option to buy or sell up to five days of annual leave in addition to your allocation.
You can also view some of our other key benefits here.
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