Financial Controls Manager; FTC

This role will help manage, maintain, and improve the Financial Control Framework (FCF) which LSM Finance in London will be responsible for embedding and delivering within processes and systems, whilst ensuring that the FCF is aligned with the LSM Risk Management Framework and Risk Appetite. The FCF leverages the relevant principles of a Sarbanes Oxley ("SOx") control framework, whilst applying a more risk-based approach to create a ‘SOx-Lite’ environment.

A key focus of this role will be the application of a holistic view to ensure Finance as a whole and as part of 1 Global GRS delivers to the various stakeholder requirements whilst delivering to its strategic vision and our guiding principles. A key element of the role will be to manage and oversee the FCF assurance and testing to be performed in line with Group’s expectations.

Finance in London consists of circa 100 FTE and has a number of key roles:

• To partner the business to enhance decision making with a focus on strategy, planning, analysis and reporting. Support is provided both to two management ‘Demand Pillars’ of GRS Reinsurance and GRS International – and also to the supporting functions within GRS
• To ensure that all external financial reporting requirements (statutory, regulatory, tax, capital etc) are fulfilled. GRS International consists of a Lloyd’s Syndicate, a UK insurance company with European branches, a number of small service companies and a portion of a US balance sheet
• To provide insightful performance analysis on the GRS International legal entities to the Legal Entity Management Committees enabling effective performance planning and management
• To report to our US Parent on standard monthly requirements and ad-hoc requests on both a pillar and a legal basis
• To ensure superior management of our investments, cash and all financial risks
• To give finance operations support to the business and finance. Finance strives for continuous improvement in all areas and aims for excellent customer service, supported by quality and efficient processes, all operating within a robust control environment

• Manage the implementation of the FCF on a day-to-day basis. Support the business in the design and implementation of key controls.
• Advance the FC team to be the centre of excellence for controls to support the business as the control environment matures.
• Liaise with branches, Group Finance, and legal entity finance divisions, and align with Risk Management to co-ordinate the FCF implementation.
• Advise and support risk and control owners within the business in identifying the risk and designing key controls from time to time where this may be necessary due to gaps in control or process changes.
• Evaluate and monitor the design criteria for controls designed in the FCF within the scope of those controls aimed at mitigating the risk of financial misstatement.
• Test the operating effectiveness of controls on a quarterly basis on a sample basis to monitor the operating effectiveness of key controls. Manage the relationship and deliverables of the external testing service provider. Manage the SOX assurance process of the SOX controls, reporting to Group and remediating control failures.
• Support the business to remediate weaknesses in the design and operation of controls where these are identified and promote an understanding and awareness of minimum standards expected for good controls. Always look for opportunities to improve and enhance the control environment.
• Implement and manage the financial controls aspects of the European Branch Control Framework.
• Work with key partners across Finance to ensure the close, audit and control processes meet the agreed criteria.
• Manage the internal audit processes, facilitating resolution of findings to ensure adherence to various regulatory regimes.
• Enhance relationships with the Risk Management, Compliance and Audit teams.
• Provide ad-hoc support to Risk Management led initiatives.
• Provide support in facilitating the execution of the External Audit across GRS International Finance.
• Manage the remediation and tracking of the EY Improvement Ideas report.
• Preparation of…