Financial Accountant

This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Head Quarter in Munich, and via branch offices in UK, Switzerland, Italy and Australia. In the UK, we also operate through a subsidiary, Great Lakes Insurance UK Limited.

The finance shared services and tax team sits within the wider Finance team, under the remit of the CFO of Great Lakes London and Munich Re UK Services Limited. The team provides services to the Great Lakes entities and also to other Munich Re UK group companies and branches.

About the role:

We are seeking a qualified or part-qualified accountant to join our Closing & Reporting team. This role provides an exciting opportunity to work within a high-performing finance function, supporting entities generating around £3.7bn in premium. This position is ideal for an accountant eager to transition to an in-house role from an accounting firm or someone with in-house experience looking for their next move. The successful candidate will be responsible for managing financial and Solvency II reporting, driving process improvements, and working closely with various teams to streamline reporting and audit processes.

Key Responsibilities:

• Accounting and Financial Reporting
  • Make informed accounting decisions by applying relevant accounting standards to ensure all entries in the general ledger comply with IFRS and UK GAAP.
  • Prepare accurate management accounts and statutory financial statements on a quarterly and annual basis to meet internal and external reporting requirements.
  • Oversee quarter-end reporting to Group, ensuring timeliness and accuracy while maintaining high standards of financial integrity.
• Tax and Ledger Compliance
  • Collaborate with the tax team to ensure all tax items, including VAT and IPT, are accurately reflected in the general ledger and comply with current tax regulations.
  • Support the tax compliance process by reviewing ledger entries for accuracy and alignment with current tax laws.
• Stakeholder and Team Collaboration
  • Serve as a central point of contact for CFOs and senior finance stakeholders, providing insightful advice and guidance on financial matters.
  • Work closely and flexibly with team members responsible for detailed financial figures, promoting strong interdepartmental relationships.
• Audit Management and Standards Compliance
  • Act as the primary contact for external auditors, facilitating the statutory audit process by managing schedules, documentation, and responses to queries.
  • Support the team in evaluating and assessing the impact of future changes to accounting standards and regulatory requirements.
• Quarter-End and Year-End Processes
  • Partner with various teams to ensure that quarter-end and annual reporting processes are efficient, accurate, and streamlined.
  • Promote consistency in reporting practices across periods and actively monitor timelines and quality standards.
• Process Improvement and Automation
  • Identify opportunities to enhance and automate financial reporting processes, making control environments more efficient and reducing manual tasks.
  • Lead initiatives to implement process improvements and new technologies, focusing on sustainable, long-term benefits to the finance function.

Key Skills & Experience:

• Financial Reporting and Accounting Standards
  • Demonstrated experience in producing management accounts and statutory financial statements, with a strong understanding of IFRS and UK GAAP standards.
  • Background in fast-paced, quarter-end/year-end close processes, ideally with experience in a high-volume reporting environment.
• Audit and Regulatory Knowledge
  • Experience in working with external auditors and managing audits, with the ability to coordinate and communicate effectively throughout the audit process.
  • Familiarity with Solvency II requirements and other regulatory reporting standards is a plus.
• Process Improvement Mindset
  • Proven ability to identify and implement process improvements and efficiencies in reporting, with a focus on automation and use of technology.
  • Skilled in evaluating existing controls and suggesting enhancements to improve accuracy and timeliness.
• Collaboration and Communication Skills
  • Effective at building relationships with cross-functional teams, able to work flexibly with other team members who manage detailed figures.
  • Strong communication skills to advise CFOs, finance partners, and auditors, maintaining transparency and ensuring accuracy across reporting processes.

Qualifications and Educational Requirements:

• Recognized accounting qualification (or working toward one), such as ICAEW, ICAS, or equivalent.
• Relevant experience in external or internal financial reporting (e.g., producing management and statutory accounts).
• Familiarity with accounting software and Excel, with experience using ERP systems a plus.

This role is an excellent opportunity for an accountant to make a significant contribution to a growing team and be part of an environment that values continuous improvement and professional development.

Benefits

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.

About us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.