Senior Associate, Market Reporting

Job Description

Senior Associate, UK Market ReportingThe Financial Reporting team sits within Central Finance, led by the Head of Financial Reporting. It has primary responsibility for reporting the Pro Forma Financial Statements and Aggregate Accounts of the Lloyds Market as a whole to internal and externalstakeholders. The team is also responsible for providing guidance to the Lloyds Market around the preparation of the Quarterly Monitoring Return - Part A and the preparation and submission of managing agent solvency results to the regulator, as well as beingresponsible for producing the financial statements of the Society of Lloyds and monthly management information.In this role you will be responsible for leading the production of market reporting, testing and validating the QMA returns from syndicates and preparing the Pro Forma Financial Statements. You will report to the Financial Reporting Manager, but will alsohave regular contact with the Head of Financial Reporting and Chief Accountant. The position is a key point of contact for other departments across Lloyds, including the Investor Relations team, to support engagement with rating agencies and analysts. Youwill be responsible for preparing papers and presentations for consumption by the Executive Team and Council of Lloyds, as well as contributing to the wider deliverables of the Financial Reporting team, including for the Society of LloydsPrincipal AccountabilitiesEnsuring Lloyds meets its financial reporting obligations in the UK with regards to the Lloyds Market results, including:

• Review of the schedules, workings and other information required for the production of the Pro Forma Financial Statements and Lloyds Aggregate Accounts.

Review of the Lloyds syndicates returns to assess the completeness and accuracy of submission and compliance with Lloyds instructions.

• Responsible for overseeing the interaction with external auditors.
• Analysing the market results, including key performance indicators, for presentation to the Executive Team and Council of Lloyds.
• Production and review of financial information for the Leadership Team and key external stakeholders.
• Working with the investor relations team to produce analyst and rating agency presentations explaining the market results.
• Driving the implementation of changes to the financial reporting framework and related changes to system for the Lloyds Market in the UK.
• Ensuring Lloyds meets its regulatory reporting obligations in the UK with regards to Lloyds managing agents and members, including:
• Reviewing quarterly and annual solvency submissions from Agencies and assessing compliance with solvency requirements for reporting to the PRA & FCA.
• Updating guidance provided to the Lloyds Market to assist in their completion of the Quarterly Monitoring Returns - Part A for syndicates and Quarterly and Annual Forecasts Returns for managing agents.
• Acting as the key point of contact for the market with regards to QMA and managing agent solvency.
• Production of financial information for Lloyds members to aid the preparation of their Schedule 3 financial statements on an annual basis.
• Responsible for one direct report, increasing to six in periods of high demand

Skills

• Ability to manipulate, analyze and review large amounts of data to very tight deadlines
• Review quantitative information and readily identify queries and issues
• Proficient IT skills with the ability to learn applications e.g. MDC, Qliksense quickly
• Communicate effectively with colleagues, senior managers, senior leadership and Lloyds managing agent personnel
• Ability to identify problems and propose pragmatic solutions
• Ability to prioritize tasks effectively
• Development of good business relationships with colleagues in other teams and external parties (e.g. Lloyds managing agents)
• Good report writing skills and good presentation skills

Knowledge

• A strong understanding of general UK GAAP financial reporting requirements, preferably as applied to insurance entities, although not essential to the role.
• Knowledge of Lloyds syndicate UK regulatory reporting requirements, accounting practices and returns (QMA in particular) is preferred, although not essential.
• General knowledge of the Lloyds Market is preferred, although not essential.

Experience

• Complex consolidated financial reporting processes.
• Building credibility with a range of stakeholders, meeting their expectations.
• Working under tight timelines to produce high quality financial reporting.
• Insurance accounting and Lloyds syndicate accounting is preferred, although not essential.

CompetencesMarket focussed

• Provide support to Corporation colleagues and market to meet regulatory and reporting requirements
• Provide clear guidance in form of instructions to market and in response to market queries to minimise complexity

Committed to excellence

• Demonstrate proficiency in applying technical knowledge
• Good organisational skills - Comfortable working under pressure and to tight deadlines

Collaborative

• Team player with the ability to guide and direct the work of junior colleagues
• Pro-active, enthusiastic approach to helping syndicates with queries and technical issues
• Collaborative approach to working with colleagues and the Market

Pioneering

• Regards challenge and change as positive
• Flexible and able to prioritise tasks effectively
• Develop solutions to issues, as well as refinements to existing procedures and processes

Responsible

• Ensure review and analysis of data conducted within agreed procedures and control framework
• Ability to manipulate, analyse and review large amounts of data

We understand work/life balance is important to us all and a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above thestandard offering (generous pension, healthcare, wellbeing).