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Job Details: Temporary Underwriting Accounting Implementation Manager
Full details of the job.
Vacancy Name
Vacancy Name Temporary Underwriting Accounting Implementation Manager
Employment Type
Employment Type Fixed Term
Location
Location London
Role Details Division: Finance
Reports to: Underwriting Accounting Manager
Look at the latest headlines and you will see something Ki insures. Think space shuttles, world tours, wind farms, and even footballers’ legs.
Ki’s mission is simple. Digitally disrupt and revolutionise a 335-year-old market. Working with Google and UCL, Ki has created a platform that uses algorithms, machine learning and large language models to give insurance brokers quotes in seconds, rather than days.
Ki is proudly the biggest global algorithmic insurance carrier. It is the fastest growing syndicate in the Lloyd's of London market, and the first ever to make $100m in profit in 3 years.
Ki’s teams have varied backgrounds and work together in an agile, cross-functional way to build the very best experience for its customers. Ki has big ambitions but needs more excellent minds to challenge the status-quo and help it reach new horizons.
Purpose of the Job
As the Underwriting Finance Implementation Manager in our Underwriting Accounting you'll play a key role in implementing Ki Syndicate 1618’s new insurance calculation engine. The implementation will be supported by third-party vendor and will replace the current earnings engine for the Syndicate.
You'll work closely with the Underwriting Accounting Manager, the project team and collaborate with other departments to assist in the design, build and testing of the new system through to the project go live.
This is an exciting opportunity for someone looking to take their career to the next level and develop their technical and system skills. With a solid understanding of our processes and applications, you'll have the opportunity to grow and make a real impact on our business.
Principal Accountabilities:
· Support the Underwriting Accounting Manager with the design and build of the Phinsys suite of products, with analysis and recommendation of how the Phinsys modules should interact with other systems within the Ki data architecture.
· Provide input and analysis into the calculation sequences to be built within Phinsys in order to derive the Syndicate underwriting result under GAAP and the QMB
· Lead all elements of the testing and SIT phases of the project, bridging differences and reconciling between actual reported periods in the AA model and their equivalents in Phinsys.
· Lead the development of all working files within the Underwriting Accounting team that use output from the AA model / Finance reporting tool and reconnect them to the Phinsys outputs
· Design the SoX controls that govern the current underwriting result production process from the Phinsys output. Working alongside the internal controls team to implement these or justify why the controls are not required anymore.
· Liaise with other departments to support the production, development and reconciliation of all relevant inputs that feed all earnings engine processes.
· Support the Underwriting Accounting Manager in the transfer of the Solvency II process from the finance AA model into the Actuarial tool, Psicle.
· Identify automations and efficiency improvements in all the earnings engine inputs and outputs. Liaise with the relevant Ki/Fairfax teams regarding the implementation of these.
· Identify and implement improvements in our suite of analytics.
· To identify process improvement opportunities from the current process whilst designing / building the Phinsys rules.
· To support ad hoc requests for information on the aim, scope and approach taken on the Phinsys project.
· To assist the wider Finance Function with providing mapping from the AA model/ Finance reporting tool into the new suite of metrics reportable from Phinsys/ Finance reporting tool.
Education, Qualifications, Knowledge, Skills and Experience
A successful candidate will have:
• Technical Skills
• Strong knowledge of accounting concepts surrounding insurance, including UK GAAP and Lloyds regulatory returns.
• Strong knowledge of insurance calculation engine tools and preferably prior experience in implementing one, especially Phinsys.
• Excel functionality to an advanced user level
• Data analysis tools and techniques
• Knowledge of the Phinsys suite of insurance finance modules would be preferable.
• Intermediate knowledge of MS SQL would be valuable but is not essential
• Knowledge of PowerPivot and Power Query is preferable but not essential.
• Competencies
• Consistently deliver high quality results, on time and within budget.
• Effective time management, ability to manage own workload appropriately.
• Effective communication / influencing skills across the organisation.
• Builds and maintains effective working relationships across the organisation.
• Multi-task oriented and flexible when working on several activities simultaneously.
• Self-motivation, strong work ethic.
• Attention to detail / analytical skills.
• Strong knowledge retention.
• Ability to consistently lead and participate in meetings effectively
• Ability to pick up new systems and processes quickly.
• Business & Educational Experience
• The London Insurance Market, preferably Lloyd's
• Experience of working in a team and as an individual
• Educated to a good overall standard, with good overall pass grades
• Qualified accountant preferable (ACA/ACCA/CIMA) but not essential
Regulatory Conduct and Rules
1. Act with integrity
2. Act with due skill, care and diligence
3. Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators
4. Pay due regard to the interests of customers and treat them fairly
5. Observe proper standards of market conduct
6. Act to deliver good outcomes for retail customers.
Ki Values
Know Your Customer: Put yourself in their shoes. Understand and balance the different needs of our customers, acting with integrity and empathy to create something excellent.
Grow Together: Empower each other to succeed. Recognise the work of our teams, while celebrating individual success. Embrace diverse perspectives so we can develop and grow together.
Be Courageous: Think big, push boundaries. Don’t be afraid to fail because that’s how we learn. Test, adapt, improve - always strive to be better.
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