Job Title: Management Accountant (Expenses)
Reporting to: Expense Accounting & AP Manager
Direct Reports: n/a
Position Type: FTC - 6 months
Overview:
Why Tokio Marine HCC?
Standing still is not an option in the current world of Insurance. TMHCC are one of the world's leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
Job Purpose:
With offices around the world and underwriting more than 100 classes of specialty insurance, Tokio Marine HCC ("TM HCC") is a leading specialty insurance group. Our products and capabilities set the standard for the industry, and many of the company's almost 3,000 employees are industry-leading experts. Since its founding in 1974, we have achieved an outstanding record of growth and profitability.
The successful applicant will be joining at an interesting and exciting time as we invest to enhance the expense reporting and management processes and increase value add to the business. With the drive for continuous improvements, this role will focus on expense accounting and reporting, enhancing processes and controls in collaboration with the wider International Finance teams and become a key SME in driving the expense reporting process.
Supporting the Expense Accounting and AP Manager, the primary purpose of this financial accounting role is the production of accurate monthly actuals reporting for operating expenses and capital expenditure across the UK and European branches with operation of robust financial controls.
This position will have responsibility for the following: Lead monthly reporting close processes for operating expenses and capital expenditure in accordance with timetable and accounting policies Production of high quality balance sheet reconciliations for operational expenditure Support the business and finance business partners through provision of high quality and insightful cost reporting, analysis and query resolution Effective liaison within the wider Finance teams, HR, tax, legal entity reporting and internal audit colleagues and with external stakeholders (e.g. external auditors and service providers) Effective collaboration with Expense FP&A and Business Partnering colleagues with regards to cost allocations to business areas and legal entities Contribute to and support wider expense transformation improvement initiatives Key Responsibilities:
Expense Accounting: Management accounting for the key operating expenses such as Rent, accounts payable, intercompany invoicing and recharges, capitalisation, taxation and expense prepayments and accruals ensuring data and accounting flows operating as intended, appropriately understood and documented Analysis of monthly International operating expenses movement vs Budget and Month on Month IRFS16 reporting and reconciliation to Head Office General ledger reasonable review and reconciliation to ensure expenses and balance sheet are in line with expectations with clear and concise variance commentary Balance Sheet reconciliation Preparation, review, posting and control of general ledger monthly journals Year End reviews of operating expenses ensuring cost captured in correct fiscal year Production of high quality balance sheet reconciliations taking appropriate action to ensure validity of items and clearance of ageing items Support project cost reporting and expense allocations through ensuring costs accurately captured and coded TB Review prior month end closure ensuring expenses are allocated in line with budget and actual spend Support and training of International branches to ensure G&A expenses are coded correctly Cost allocation for direct and shared services considering group structure and VAT implications Annual internal reporting to tax department, providing insights and explanatory to on the various costs nature Annual budget support and Anaplan inputs Internal and External Audit support Creation templates for large recurring journals using VBA in Excel Finance Change and Transformation: Drive continuous improvement and standardisation in the monthly close through reviewing current processes, identifying opportunities and implementing change working in conjunction with European branch finance colleagues Ensure all key processes and controls are appropriately documented and being adhered to Contribute to the wider Expense Transformation program driving increased value add for the business, more efficient and effective processes and improved career development opportunities Relationship Management: Develop effective working relationships with all key stakeholders, principally within the Expense Accounting team and with Accounts Payable, Expense FP&A and business partners, European branch finance, wider Finance Operations, HR, cost centre managers, Tax, Legal Entity reporting, Finance Change and internal and external auditors Other: Develop a broad understanding of TM HCC's business and operations to validate accounting and reporting outputs; enable efficient and effective query resolution; challenge outputs are as expected and aligned to cost allocation principles. Develop a very good understanding of finance ledgers, reporting and interrogating data in systems in order to be able to operate effectively, further optimize processes and contribute to future system enhancements and changes. Skills and Experience Specification:
Essential: ACA / ACCA / CIMA part qualified accountant Experienced in a head office expense accounting team within a large European or global business Experienced initiating and driving process and financial control improvements and to be excited to play a key role in an Expense management transformation programme Good proven accounting knowledge under UK, US GAAP, IFRS Strong service delivery including definition of service level agreements (SLAs), query resolution standards, quality assurance targets and strong customer engagement Proven experience initiating and implementing change within Finance Advanced excel and general ledger accounting system knowledge / ability Strong communication and interpersonal skills Knowledge in preparation of inputs for UK and European VAT returns Highly numerate with excellent attention to detail and accuracy Desirable: Experience working in an insurance business PeopleSoft, Anaplan, Esker Soft Skills: Encourage a culture of continuous improvement and 'end to end' process thinking Energy, enthusiasm, persistence and adaptability Professional approach and delivery of work product Ability to influence and lead others Focus on timely delivery of quality outputs Excellent communication and interpersonal skills Commercially minded, critical thinker with a keen eye for the detail Assertive but sensitive to conflicting demands on others. What We Offer:
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.
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Reporting to: Expense Accounting & AP Manager
Direct Reports: n/a
Position Type: FTC - 6 months
Overview:
Why Tokio Marine HCC?
Standing still is not an option in the current world of Insurance. TMHCC are one of the world's leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
Job Purpose:
With offices around the world and underwriting more than 100 classes of specialty insurance, Tokio Marine HCC ("TM HCC") is a leading specialty insurance group. Our products and capabilities set the standard for the industry, and many of the company's almost 3,000 employees are industry-leading experts. Since its founding in 1974, we have achieved an outstanding record of growth and profitability.
The successful applicant will be joining at an interesting and exciting time as we invest to enhance the expense reporting and management processes and increase value add to the business. With the drive for continuous improvements, this role will focus on expense accounting and reporting, enhancing processes and controls in collaboration with the wider International Finance teams and become a key SME in driving the expense reporting process.
Supporting the Expense Accounting and AP Manager, the primary purpose of this financial accounting role is the production of accurate monthly actuals reporting for operating expenses and capital expenditure across the UK and European branches with operation of robust financial controls.
This position will have responsibility for the following: Lead monthly reporting close processes for operating expenses and capital expenditure in accordance with timetable and accounting policies Production of high quality balance sheet reconciliations for operational expenditure Support the business and finance business partners through provision of high quality and insightful cost reporting, analysis and query resolution Effective liaison within the wider Finance teams, HR, tax, legal entity reporting and internal audit colleagues and with external stakeholders (e.g. external auditors and service providers) Effective collaboration with Expense FP&A and Business Partnering colleagues with regards to cost allocations to business areas and legal entities Contribute to and support wider expense transformation improvement initiatives Key Responsibilities:
Expense Accounting: Management accounting for the key operating expenses such as Rent, accounts payable, intercompany invoicing and recharges, capitalisation, taxation and expense prepayments and accruals ensuring data and accounting flows operating as intended, appropriately understood and documented Analysis of monthly International operating expenses movement vs Budget and Month on Month IRFS16 reporting and reconciliation to Head Office General ledger reasonable review and reconciliation to ensure expenses and balance sheet are in line with expectations with clear and concise variance commentary Balance Sheet reconciliation Preparation, review, posting and control of general ledger monthly journals Year End reviews of operating expenses ensuring cost captured in correct fiscal year Production of high quality balance sheet reconciliations taking appropriate action to ensure validity of items and clearance of ageing items Support project cost reporting and expense allocations through ensuring costs accurately captured and coded TB Review prior month end closure ensuring expenses are allocated in line with budget and actual spend Support and training of International branches to ensure G&A expenses are coded correctly Cost allocation for direct and shared services considering group structure and VAT implications Annual internal reporting to tax department, providing insights and explanatory to on the various costs nature Annual budget support and Anaplan inputs Internal and External Audit support Creation templates for large recurring journals using VBA in Excel Finance Change and Transformation: Drive continuous improvement and standardisation in the monthly close through reviewing current processes, identifying opportunities and implementing change working in conjunction with European branch finance colleagues Ensure all key processes and controls are appropriately documented and being adhered to Contribute to the wider Expense Transformation program driving increased value add for the business, more efficient and effective processes and improved career development opportunities Relationship Management: Develop effective working relationships with all key stakeholders, principally within the Expense Accounting team and with Accounts Payable, Expense FP&A and business partners, European branch finance, wider Finance Operations, HR, cost centre managers, Tax, Legal Entity reporting, Finance Change and internal and external auditors Other: Develop a broad understanding of TM HCC's business and operations to validate accounting and reporting outputs; enable efficient and effective query resolution; challenge outputs are as expected and aligned to cost allocation principles. Develop a very good understanding of finance ledgers, reporting and interrogating data in systems in order to be able to operate effectively, further optimize processes and contribute to future system enhancements and changes. Skills and Experience Specification:
Essential: ACA / ACCA / CIMA part qualified accountant Experienced in a head office expense accounting team within a large European or global business Experienced initiating and driving process and financial control improvements and to be excited to play a key role in an Expense management transformation programme Good proven accounting knowledge under UK, US GAAP, IFRS Strong service delivery including definition of service level agreements (SLAs), query resolution standards, quality assurance targets and strong customer engagement Proven experience initiating and implementing change within Finance Advanced excel and general ledger accounting system knowledge / ability Strong communication and interpersonal skills Knowledge in preparation of inputs for UK and European VAT returns Highly numerate with excellent attention to detail and accuracy Desirable: Experience working in an insurance business PeopleSoft, Anaplan, Esker Soft Skills: Encourage a culture of continuous improvement and 'end to end' process thinking Energy, enthusiasm, persistence and adaptability Professional approach and delivery of work product Ability to influence and lead others Focus on timely delivery of quality outputs Excellent communication and interpersonal skills Commercially minded, critical thinker with a keen eye for the detail Assertive but sensitive to conflicting demands on others. What We Offer:
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.
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