Financial & MI Accountant - Investment Treasury (12 Month FTC)

£55000 - £65000 per annum + Benefits
12 Mar 2018
09 Apr 2018
Direct Line Group
Job Function
Fund Accountant
Full Time
Contract Type
Interim or Contract

At Direct Line Group, we're shaping the future. With a mission to make insurance easier and better value for our customers, we embrace change in all its richness and variety. It's not just what we do; it's how we do it. We bring our whole selves to work every day and embrace fresh thinking - after all, Britain is constantly changing and to protect the nation, we adapt with it.

Across our diverse brands - including Direct Line, Churchill, Privilege and Green Flag - change takes many forms. We appreciate the knowledge and skills that each one of us brings to the business. It's hard not to be inspired by the things that make us unique. Boldness, curiosity and enthusiasm go a long way. And they're helping us transform the industry we lead.

Financial & MI Accountant

We have a fantastic opportunity to join our Investment & Treasury area of DLG on a 12 month FTC as a Financial & MI Accountant based from our head office in Bromley. Internally this opportunity can be offered as a secondment.

Your main responsibility will be to ensure strong financial and accounting control over the DLG investment portfolios, maintaining the investment ledgers and preparing the month end financial statements for Investments with supporting commentary.

What being a Financial & MI Accountant involves

  • Maintain the investment ledgers and prepare the month end financial statements for Investments with supporting commentary,
  • Prepare quarterly supplementary disclosure packs for Group Reporting and support the year end preparation of financial statements. Complete quarterly ONS returns, and assist with completion of Solvency II submissions,
  • Assist with preparation of monthly management information pack, as well as producing various slides relating to derivatives, hedging, valuation, and counterparty exposure. Compile accounting information for the front office to be used for assessing fund manager performance,
  • Assist with expansion of the Investment & Treasury department, giving input on ledger and accounting treatment implications for new initiatives and regulatory requirements (e.g. Solvency II),
  • Assist the manager of hedging and financial control with the reporting of hedges (e.g. US Dollar mandates, Global Credit mandate, Debt Issuance)
  • Provide assistance to the manager of hedging and financial control with queries relating to Investor Relations.
  • Assist with the accounting set up of new product proposals or new investment products.
  • Manage P&L and balance sheet substantiation processes for Investments,
  • Daily P&L reporting to identify and fix any erroneous postings during the month so that there is minimal impact required at month end,
  • Provide support to the Manager of hedging and financial control with developing the relationships with Black Rock, HSBC, and fund managers to ensure all information is correctly posted and reconciled in DLG ledgers.
  • Document the basis or pricing sources used against which all investments held are valued. On an ongoing basis at month end perform price testing and validate asset prices held within the investment portfolio, review for impairment triggers, and reconcile to FV movement to AFS reserve.
  • Provide investment technical accounting support and advice for the Finance community,
  • Support the embedding of the Blackrock risk and accounting system into the business and develop the reporting suites available from the system,
  • Support Investment & Treasury front office with any ad hoc queries,
  • Provide assistance to internal and external auditors, helping with their queries, information requirements and testing,

Skills we are looking for

  • Qualified Accountant
  • Investment accounting & month end reporting experience
  • Good attention to detail
  • Strong Microsoft Excel skills
  • TM1 knowledge advantageous
  • Previous exposure to IAS 39 - Financial Instruments: Recognition and Measurement would be beneficial

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