(Senior) Group accounting Manager (Perm)

Who are we?

Howden is a collective – a group of talented and passionate people all around the world. Together, we have pushed the boundaries of insurance. We are united by a shared passion and no-limits mindset, and our strength lies in our ability to collaborate as a powerful international team comprised of 18,000 employees spanning over 100 countries.

People join Howden for many different reasons, but they stay for the same one: our culture. It’s what sets us apart, and the reason our employees have been turning down headhunters for years. Whatever your priorities – work / life balance, career progression, sustainability, volunteering – you’ll find like-minded people driving change at Howden.

Job role: (Senior) Group accounting Manager (perm)

Department: Group Finance – financial reporting

Report to: Group Accounting – Financial controller

Role

HGH (Howden) Group financial reporting consists of following teams:

• Group accounting (accounting papers, policies, M&A accounting etc)

• Group Legal entities reporting (monthly/statutory reporting for top holding and treasury entities)

• Group External reporting (consolidation, cash flow, IFRS consolidated accounts coordination)

• Group management reporting and FP&A (management and lender reporting)

This role within the Group accounting team will support the Group with:

• Accounting papers – preparing / reviewing technical accounting position papers and technical accounting research / projects (most of it on M&A and related workstreams)

• Accounting policies – improving and developing Group accounting policies and reporting manual. Support and advise finance teams with application

• Group wide control - preparing / reviewing / automating balance sheet reconciliations (e.g. leases, intangible assets, M&A related accounts), analytical review, understanding and explaining changes to identify unusual / unexpected movements

• Group accounts – review of certain sections and disclosures of quarterly and annual consolidated accounts

• Support projects – as the group’s processes mature, various change / improvement projects are expected in short / medium term future

This role would suit a person who likes to tackle accounting challenges but would also enjoy working with other teams (UK and internationally) from finance and other areas (e.g. IT, operations) to find scalable solutions supported by technology. The role is predominantly project based and brings a breadth and variety distinct from ‘BAU’ focused roles, so project management experience is essential. This is a great opportunity to take the front seat in building and developing finance functions in a growing group as it grows in maturity.

Even though Howden is operating within Insurance broking/underwriting, experience within Insurance could be beneficial (but is not crucial). Experience with accounting for professional services companies would be helpful.

Professional qualifications

• ACA / ACCA or equivalent (3-6 years’ PQE)

• 2:1 University degree or equivalent

Key responsibilities:

Accounting papers and advice:

• Project manage, prepare and/or review accounting papers and/or advice for specific transactions which are complex in nature e.g.

  • IFRS 3 Business combinations (sometimes including reorganisations) – Howden are an acquisitive group with multiple acquisitions each quarter

  • IFRS 16 accounting for non-standard/complex leases

  • Impairment assessments (e.g. Goodwill and Intangible assets but also investments in subsidiaries)

  • IAS 38 Intangible assets capitalisation (software implementation costs

  • Various valuation topics

    • Discount rates (helping with debt, equity and lease discount rates) and adjusting for local circumstances when needed

    • Valuation of minority equity interests and other FV instruments

  • Potentially transactions related to financing, share based payments etc.

• Helping with review of work prepared by others (e.g. junior colleagues, local / divisional finance, other teams) with opportunities to provide coaching/mentoring to junior colleagues

• Assist in preparing advice / guidance to be relied upon by various stakeholders (local and divisional)

• Support subsidiaries with IFRS related queries and articulating differences and connection to statutory accounting (often provided to senior finance personnel such as Financial controllers, directors, CFOs)

Accounting policies / chart of accounts:

• Lead the update of existing accounting policies and development of new policies

• Support subsidiaries with application of IFRS, group accounting policies and reporting manual

• Track recurring questions or themes which need to be answered / clarified within policies

• Help maintaining Group chart of accounts (definitions, interaction with accounting policies and Key performance indicators KPIs)

• Maintain and improve financial controls and relationships with internal and external audit

• Identify inconsistencies and duplication of work - explore opportunities to simplify and improve speed / quality of financial processes and suggest solutions

• Opportunities to provide training for the group finance team and wider local teams including CPD requirements

• Lead preparation of financial reporting updates (key changes during the quarter, CDP resources)

Group wide control:

• Acquisition accounting - Assist with quarterly review of accounting for acquisitions (e.g. review reconciliations of investment in subsidiaries, customer relationships, goodwill)

• Intangible assets – Assist in quarterly analysis by division on a project level and critically assess capitalised costs against the criteria of IAS 38

• IFRS 16:

  Assist in providing post implementation support to local teams (for IFRS16 reporting solution)

  Assist in quarterly reporting and review of leases (entire Group)

  Provide guidance to teams Group reporting and local application

  Promote best practice control procedures and documentation with more junior team members and be proactive in suggesting control improvements

Consolidated Group accounts:

• Assist in preparing / reviewing sections of Group consolidated accounts (annual and interim) e.g. disclosures of one-off transactions, M&A activities, leases

• Support external and internal audit processes

Other:

• Establish a good working relationship with other teams (e.g. local / regional finance, group tax, legal, corporate finance, treasury)

• Support future developments and group wide change initiatives

• Help proactively manage the auditors and driving efficiencies in audit requests (e.g. moving away from emails, escalating issues with EY Senior Managers when required). Manage the flow of audit requests amongst the group accounting team.

Key accountabilities (what you are measured on):

• Accounting papers delivery (project management is essential)

• Pace of accounting policy updates and executing policy updates in accordance with agreed deadlines

• Quality of deliverables presented (complex topics condensed into well-presented and easy to follow summaries) Quality and speed of guidance provided (thinking about “number of emails avoided”)

• Timeliness of quarterly balance sheet reconciliations and quality of review of certain positions

• Quality and number and of improvements / simplifications suggested/implemented.

• Development of relationships with other teams (e.g. finance / tax / treasury / legal)

• Effective delivery of ad hoc projects (including team activities not connected to core role) and other responsibilities which will evolve over time

Key competencies (knowledge and experience):

• Great working knowledge of IFRS (and UK GAAP to lesser extent) Direct exposure and significant experience with some of the following topics:
  Higher weighting

• Acquisition accounting, IFRS 3 (determining consideration, review opening BS, understanding FV adjustments, determining goodwill)

• Leases IFRS 16 (and differences to IAS 17)

• Intangibles assets (IAS 38 internally developed assets, software implementation costs)

• Valuations (concepts and interaction with different standards)
  Lower weighting

• Financial instruments (IFRS 9)

• Share based payments (IFRS 2)
   

• Controls reporting experience (e.g. SOX) and familiarity with US GAAP would beneficial

• Previous exposure to preparation or audit of consolidated accounts - understanding consolidation accounting and interrelation between local (statutory) and group reporting differences

• Strong project management and good communication skills

• Ability to discuss accounting concepts and requirements with non-finance staff

• Decent awareness of UK law related to accounting and statutory reporting

• Some experience working with general ledger or consolidation systems would be very beneficial

What do we offer in return?

A career that you define. At Howden, we value diversity – there is no one Howden type. Instead, we’re looking for individuals who share the same values as us:

• Our successes have all come from someone brave enough to try something new

• We support each other in the small everyday moments and the bigger challenges

• We are determined to make a positive difference at work and beyond

Reasonable adjustments

We're committed to providing reasonable accommodations at Howden to ensure that our positions align well with your needs. Besides the usual adjustments such as software, IT, and office setups, we can also accommodate other changes such as flexible hours* or hybrid working*.

If you're excited by this role but have some doubts about whether it’s the right fit for you, send us your application – if your profile fits the role’s criteria, we will be in touch to assist in helping to get you set up with any reasonable adjustments you may require.

*Not all positions can accommodate changes to working hours or locations. Reach out to your Recruitment Partner if you want to know more.

Permanent