Service Company Accountant
Division: Group & Statutory Reporting
Reports To: Subsidiary Team Lead Accountant
Key Relationships: Reporting, Accounting, Tax, Actuarial, Global Business, Investor Relations, Finance Change, Service Company, and Group Reporting.
Role Overview
The Service Company Accountant is responsible for the accuracy, completeness, and integrity of financial data relating to service company entities. The role focuses on cost‑plus accounting, financial reporting, reconciliations, and supporting compliance activities. The individual will play a key role in month‑end close, balance sheet integrity, and ensuring high‑quality financial outputs for service company operations.
Responsibilities
Service Company Accounting & Reporting
Review service company cost‑plus allocations and perform post‑posting checks to ensure accuracy, completeness, and appropriate supporting documentation.
Perform analytical reviews of cost‑plus allocations to confirm alignment to budget, with variances clearly identified and communicated to insurance carriers.
Raise service company invoices to facilitate intercompany settlement, ensuring settlements are completed on a quarterly basis.
Liaise with the Credit Control team to ensure timely cash allocation, and collaborate to investigate and resolve any unallocated balances.
Prepare statutory financial statements for service company entities, ensuring full compliance with applicable accounting standards.
Month‑End Close & Financial Control
Support the timely completion of month‑end close activities for service company entities.
Perform quarterly balance sheet and P&L analytics, identifying and investigating variances.
Ensure all journal entries are appropriately supported and documented.
Maintain and enhance financial controls over service company processes.
Reconciliations & Banking
Prepare and review bank reconciliations on a timely basis.
Post bank transactions and investigate reconciling differences.
Perform balance sheet reconciliations, ensuring completeness and accuracy of underlying balances.
Resolve aged or unusual reconciling items in a timely manner.
Compliance, Tax & Governance
Assist with regulatory and compliance requirements.
Support the preparation of tax returns and related submissions.
Ensure adherence to internal controls, policies, and regulatory requirements.
Support audit processes by providing accurate and timely information.
Collaboration & Stakeholder Management
Act as a key contact for service company‑related queries, providing clear and timely responses.
Work closely with finance, tax, and operational teams to ensure alignment of financial data.
Build strong relationships with internal stakeholders and provide insights into financial performance.
Personal Specification
Essential Criteria
University degree in any discipline
Professional accountancy qualification, preference for ACA/ACCA, or qualified by experience
Strong technical accounting skills, especially UK GAAP and IFRS
Proven post‑qualification experience, ideally gained within financial reporting
Skills and Abilities
General commercial and financial knowledge
Insurance and Lloyd’s specific knowledge
Strong analytical skills with attention to detail
Advanced Excel skills, including Power Query and Power Pivot
Able to communicate effectively with others, both verbally and in writing
Able to work on own initiative
Strong team working skills
Able to manage time well, meet deadlines, and prioritise effectively.
Knowledge and Experience
Experience of designing processes and managing controls
Aptitude and Disposition
Outcome‑focused, self‑motivated, flexible and enthusiastic
A professional approach to interacting effectively with management and peers
Diplomatic
Competencies
Technical competence / expertise
Delivery of work to a high standard and within deadlines
Team working
Information seeking
Conceptual thinking
Analytical thinking
Planning
Flexibility
Communication
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