Senior Accountant - Regulatory Reporting

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

Job Purpose

To manage the completion of the regulatory reporting requirements of the UK division and to ensure that the UK corporate division is kept up to date with changes in regulatory reporting requirements.

Key Accountabilities

• Manage the process for producing and documenting the quarterly and annual Canada Life Limited (CLL) regulatory returns** within the deadlines set by the regulator.
• These include producing and managing the timetable, monitoring and ensuring progress, production and submission of reporting packs once all necessary internal review and signoff processes have been completed.
• Manage the completion full balance sheet reconciliations between local and regulatory reporting. Review and obtain sign off for the reconciliation.
• Ensure that all validation errors within the regulatory reporting systems are cleared prior to submission.
• Use and development of relevant systems (e.g. SAP, Data Repository, FSAssist and BPC)
• Manage team members as required.
• Produce the annual Hong Kong return and deal with all other finance related paperwork and payments due to Hong Kong.
• Assist with the production of the Financial Statements of CLL so that they align with the regulatory returns
• Asist with the preparation of various regulatory returns for FCA regulated entities in the UK Group of companies
• Work with external auditors to ensure clean audit reports are obtained for all audited work, to ensure that all auditor identified accounting adjustments are reflected in the company ledgers and that operational processes are updated to ensure improved procedures are in place.
• Keep up to date with changes to regulatory reporting requirements from the PRA, EIOPA and other regulators that could potentially impact reporting and manage the dissemination of that information through the relevant departments as required
• Identify and implement process changes to improve quality as well as processing times to ensure that the regulatory reporting can be met.
• Solvency II Data Governance / ICOFR: Ensure that appropriate controls over regulatory reporting exist and that these are operating effectively. Ensure that any reporting data issues and/or key control deficiencies are escalated and remediated in a timely manner.

Solvency II regulatory reporting consists of quarterly and annual Quantitative Reporting Templates (QRTs), Financial Stability Templates (FSTs),, as well as narrative returns including the SFCR and ad hoc requests from the PRA including responses to plausibility checks.

Desired Knowledge / Experience / Skills

• Detailed knowledge of the EIOPA/PRA Solvency II / Solvency UK regulations (directive, guidelines, implementing technical standards and policies)
• Strong technical accounting knowledge
• Qualified accountant with financial services experience
• Good proficiency levels in Excel and Word
• Excellent self organisational skills, ability to work on own initiative and manage projects that run over several months
• Excellent verbal communication skills
• Proven track record of working to strict deadlines and can be assertive in monitoring other teams to ensure those deadlines are met.
• Ability to communicate complex accounting issues to finance and non-finance staff

Qualifications

Qualified Accountant

Benefits of working at Canada Life

We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that's regularly reviewed. As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with, income protection, private medical insurance and life assurance. We have a fantastic number of other benefits and support services as well as regular personal and professional development.

How we work at Canada Life

Our culture is unique and incredibly important to us. We care about doing the right thing for our people, customers and community and helping others to build better futures. Our blueprint behaviours shape and influence how we work, and are central to the relationships we have with others. Every day we are encouraged to be more curious, own the outcome, face into things together and find a way forward.

We want colleagues to have rewarding careers with us so we invest in the development of our people, technology and workplaces. That's why we offer a range of training, flexible working and opportunities to grow and develop.

Diversity and inclusion

Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic is a key commitment for us. We are proud of the progress we're making in DEI, and we continue for it to be a significant focus.

"At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all." Nick Harding, Chief People Officer, Canada Life UK

We appreciate that everyone has different work and life responsibilities. We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you.