Capital and Reinsurance Manager

We’re First Central Insurance & Technology Group (First Central for short), an innovative, market-leading insurance company. We protect the things customers love so they can get on with what matters to them in life. 

Data drives us. It fuels our outstanding distribution, finance, technology and legal services. Our underwriting skills are built on data expertise; it creates the insights we need to give the right cover to the right customers at the right price. But, it’s the people inside and outside our business that power us. They make us stand out, help us succeed. We’re ambitious. We’re growing. We’ve won awards.   

We work and play hard. We mix fast pace with fun. We get things done. Join us and fly. 

Our Finance team need a proactive and focused Capital and Reinsurance Manager, who'll play a large part in embedding a capital focused culture into business decision making at all levels and ensuring compliance with all regulatory obligations.

You'll understand about Solvency II capital requirements and their principles and have demonstrable experience in Capital Management and Reinsurance, where you'll support delivering a proactive approach and strategy to enable the business to achieve its long-term objectives.

Working flexibly, you'll spend most of your time working from home, with a day a week in the office (so living close to Haywards Heath, West Sussex or Salford Quays, Manchester would be perfect). But of course, it’s your choice - if you prefer to be in the office more - that's good with us too.   Live in Spain or Gibraltar? - with offices in Gibraltar, you'll also be welcomed.

You’ll be the perfect person for us if:  

Responsibilities: 

Capital

• Lead the narrative and timely submission of compulsory capital returns –SFCR and ORSA
• Support embedding the capital function into the business and establish a capital focused culture among finance colleagues and trading / pricing decision makers
• Provide guidance to senior executives on the impact of proposed regulatory changes arising from increased supervision from the GFSC, develop decision making aids to navigate potential issues and provide appropriate recommendations
• Support external Legal / Regulatory experts in understanding the capital position and the results of stress scenarios to facilitate their discussions with the regulator on proposed changes to capital or group structure

Reinsurance

• Lead all BAU reinsurance processes, reinsurance bordereau review, forecast / planning assumptions, month end review, cash flow forecasting and sign off BS reconciliations.
• Own the day to day strategic partnership with external underwriting broker, ensure ongoing compliance with reporting timescales and co-ordinate ad hoc data requests
• Support the strategic decision-making and placement of the Company’s QS and XOL reinsurance programmes, ensuring appropriate cost/benefit analysis and cost of capital calculations to ensure reinsurance programme is optimised and aligned with Company’s strategic objectives
• Co-ordinate with external reinsurance broker to explore alternative reinsurance and risk transfer solutions to drive increase effectiveness of reinsurance programme and maximise return on capital
• Support the annual renewal process with Group Chief Underwriting Officer and Head of Capital and Reinsurance

Corporate Projects

• Leading the analyse the capital impact of new corporate initiatives, working with the Capital Manager to produce solvency projections and relevant stress tests for both Group and SICL
• Produce material for board and regulator engagement on new corporate initiatives reflecting the solvency and capital impact

Change Management

• To lead working groups with the wider finance team to adapt existing financial processes to satisfy business requirements and support commercial decision making as we adapt and grow through external advice (New reinsurance structures, new metrics, market best practice on internal reporting, transferring of Own Funds into Financial reporting team)

Leadership

• To deputise for the Head of Capital and Reinsurance as and when required
• To act as a mentor and coach to junior colleagues within the team
• To perform any other duties as reasonably required

Job Specific Competencies: 

Qualifications

• Qualified Accountant (ACCA / CIMA / ACA or equivalent by experience)

Experience

• Experience within an Insurance or financial services company
• Good understanding of the calculation of Solvency II capital requirement / own funds and how the principles of Solvency II are applied to general insurers
• Understanding of regulatory submissions

 Skills

• Clear and concise communicator so that senior leaders from both finance and non-finance areas can understand the issues quickly and make appropriate business decisions
• Able to articulate complex matters from junior to Board level in an insightful way
• Good time management and organisation skills, with the ability to meet tight deadlines
• Leadership skills and ability to motivate employees in a high pressurised environment
• Problem solving skills, with the ability to identify problems and adopt a logical approach to resolving problems
• Excellent numeracy skills
• Advanced knowledge of Excel and PowerPoint

Behaviours

• Commercially focused and willing to challenge information and not take at face-value.
• Self-motivated and enthusiastic with an organised and proactive approach
• Taking responsibility for tasks and seeing them through to completion with great attention to detail and a high degree of accuracy
• Flexible approach to work and adopts a positive attitude
• Embraces opportunities to develop and learn - shows a great level of self-awareness and drive.
• Possess an inquisitive mind, and be able to identify anomalies or inconsistencies and pursue these through to a resolution
• Relish the challenge of working to tight deadlines and during periods of pressure
• Strives to drive business improvements and contribute to the success of the business

Want to know more? Sounds like you? Then click on Apply.  

This is just the start.  Imagine where you could end up! The journey’s yours…  

What can we do for you?

People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy, take a look at all our perks in full here. 

Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.