Intercompany Accountant - Ireland - Munich Re

Description

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we're committed to building a strong and inclusive culture where everyone is welcomed and valued for their "own expression of self-identity".

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd's of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Intercompany Accountant

We are looking to employ an Intercompany Accountant to be based in London and to work with us on a Full Time basis.

This position will provision of support to MRSL and the successful candidate will ensure accurate and transparent financial reporting across interconnected entities with the Munich Re AG Group. The primary objective of the Intercompany Accountant is to meticulously manage and reconcile intercompany transactions within the insurance company's diverse business units by maintaining precision in intercompany accounting processes, the accountant aims to foster financial integrity, facilitate efficient cross-entity operations, and support compliance with regulatory standards. This role plays a crucial part in upholding the company's financial health and enhancing stakeholder trust through seamless coordination and reconciliation of intercompany accounts.

The Role

As an Intercompany Accountant with MRSL, you will be responsible for the following:

1. Reconcile Technical Intercompany Positions:

Conduct thorough reconciliation of technical intercompany positions, ensuring alignment with accounting standards and internal guidelines.

Identify and resolve discrepancies in intercompany accounts to maintain accurate financial records.

2. Build Process Flows and Standardize Processes:

Develop comprehensive process flows for intercompany transactions, documenting end-to-end processes.

Standardize intercompany accounting processes to enhance efficiency, reduce errors, and ensure consistency across entities.

3. Collaborate with Other Entities for Reconciliation:

Work closely with counterparts in other entities to reconcile balances and differences, both technical and non-technical.

Foster effective communication and coordination to address intercompany issues promptly and proactively.

4. Support Teams Through Finance :

Provide guidance and support to various teams within the finance department regarding intercompany accounting matters.

Conduct training sessions or workshops to enhance awareness and understanding of intercompany processes.

5. Collaborate with Reporting Team :

Work collaboratively with the reporting team to produce accurate group financial results.

Ensure timely consolidation of intercompany data for inclusion in financial reports.

6. Report to Parent Company on Company Result s:

Prepare and deliver reports to Munich Re AG, highlighting key intercompany results, trends, and financial insights.

Address inquiries from Munich Re AG related to intercompany transactions.

7. Contribute to Annual Reports and Regulatory Filings :

Play a key role in the preparation and validation of information for annual reports and regulatory filings.

Ensure compliance with relevant accounting standards and regulatory requirements.

8. Support Ad Hoc Requests:

Respond to ad hoc requests from internal and external stakeholders, providing timely and accurate information.

Address special projects or analyses related to intercompany activities as needed.

You are required to comply with the PRA and FCA conduct rules:

• Acting with honesty and integrity at all times
• Acting at all times with due care, skill and diligence
• Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times
• Always paying due regard to the interests of customers and always treat them honestly and fairly
• Observing proper standards of market conduct at all times.

What we're looking for:

Knowledge and Skills

• Strong analytical skills with the ability to collect, interpret, and analyse financial and non-financial data.
• Ability to create clear and comprehensive process flows and documentation for intercompany processes.
• Excellent attention to detail and accuracy in financial reporting.
• Excellent communication skills to collaborate with teams across entities, convey complex financial information, and address queries effectively.
• Ability to work independently, prioritize tasks, and meet tight deadlines.
• Proven ability to identify issues, analyse root causes, and implement solutions to address intercompany challenges.

Competencies for the Role:

1. Team orientation

Work cooperatively and flexibly with other members of the team with a full understanding of the role to be played as a team member.

2. Communication

Communicate clearly, fairly and in a non-misleading manner, both orally and in writing.

3. Achievement/results-orientation

Get things done well and the ability to set and meet challenging goals, create own measures of excellence and constantly seek ways of improving performance.

4. Problem-solving

Analyse situations, diagnose problems, identify the key issues, establish and weigh up alternative courses of action and produce a logical, practical and acceptable solution.

5. Flexibility

Adapt and work effectively in different situations and to carry out a variety of tasks.

Take constant care in looking after the interests of external and internal customers. Ensure that their wants, needs and expectations are given due consideration and that all efforts are made to meet them wherever fair and reasonable, in line with any standards from an industry regulator.

7. Planning and prioritising

The ability to decide on courses of action, ensure that the necessary resources are available and schedule the work required to achieve a defined result in a desirable manner.

8. Share knowledge

Share knowledge about the role you perform fully and willingly with others, where this is relevant, in the interests of the organisation.

9. Self-development

Take responsibility for your own career and actively support 'continuing professional development'.

10. Commercial/business awareness

The capacity to understand the business opportunities and priorities of the organisation and constantly seek methods of ensuring that the organisation continues to be business-like and continues to meet the standards and requirements of its regulators.

Education

• ACA or ACCA qualified accountant

• University Degree and/or relevant professional qualification

IT Skills:

Generic

• Office 365 (MS teams, MS Power Point, MS Excel, MS Word, SharePoint)

At MRSG, you'll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future.We make it happen. Together.