Job Title: Expense Analyst
Reports To: As per Beazley’s organisation chart
Key Relationships: Finance Management, Finance Business Partners, Business Function Heads, Group Planning Team, Accounts Payable Team and other Business Users.
Job Summary: Ownership of the accurate and timely delivery of the expense actual process – including payroll, month end processes and ledger entry, reconciliations & variance analysis reporting. Responsible for leading and developing an Assistant Expense Analyst. To conduct oneself in line with the core and partnership competencies as noted below.
Responsible for the expense (actuals) control and reporting function, ensuring the integrity of the group cost base and supporting the Business Partner Relationship model for all functions / teams:
To lead and develop a small team ensuring:
- Appropriate assignment of responsibilities within the team so to meet overall team objectives
- Ensure that people are deployed and developed to meet current and future needs
- Ensure that all employees have the knowledge and the skills necessary to perform effectively in their given roles and responsibilities
- Ownership, and development, of the risk and control framework in place for the team’s responsibilities, including process documentation for all processes owned.
Manage the monthly, quarterly and annual reporting cycles
- Lead the expense (actuals) team to ensure that all periodic closes are efficient and controls are in place
- Responsible for ensuring that all expense reporting is completed to Expense & MI team management in accordance with pre-approved timetables, including:
- All month end ledger entries
- Variance analysis (incl. Direct Cost Reports)
- Expense allocation and trigger process, reclass & deferrals
- Running analytics process
- Controls and governance framework
- Continuously strives to develop expense reporting capabilities for process efficiency, reporting effectiveness & robustness of control framework
Manage the monthly, quarterly and annual payroll processes
- Lead the payroll ledger entry process to ensure that all periodic closes are efficient and controls are in place
- Responsible for ensuring that all payroll balance sheet reconciliations are completed and detailed to Expense & MI team management on a monthly basis
- Continuously strives to develop the payroll process efficiency and flow of information between Finance & Talent Management teams
These are in addition to the Core Competencies:
- Develop knowledge of the insurance marketing and the accounting policies adopted
- Ability to review existing models, processes and procedures and implement improvements to improve the efficiency and effectiveness of the team
These are in addition to the Core Competencies:
- Strives to exceed the expectations of the client and actively seeks feedback
- Delivery of timely and accurate information to all stakeholders seeking to add value at every opportunity
- Is outward and customer focused
- Confident in own skills and contribution; challenges the client so to support the client in achieving their optimal results
- Strives to understand all dimensions of the client and their underlying requirements as it influences their results:
- Knowledge of the individuals within the teams including communication preferences
- Understands and identifies all key drivers (systems and processes) behind the different views of reported (Expense) results.
Core competencies in addition to those noted as specific to the Expense Analyst role which are considered to be pertinent to the Finance MI team are as follows:
- Analytical Thinking: Logical analytical approach to rapidly changing data and situations. Considers wider implications across functions and varying scenarios to Beazley.
- Professionalism: Consistently demonstrates integrity, is highly credible, respectful and trustworthy and represents Beazley Finance MI in a professional manner. Builds and maintains successful working relationships and is seen to go the extra mile
- Learning and development: Identifies strengths and weaknesses and seeks to improve performance. Recognises and takes responsibility for mistakes and learns from them. Continually seeks self-development opportunities. Regularly engages in self-assessment and gives/receives feedback to enhance personal awareness
- Adaptability: Effectively manages changing priorities in a dynamic environment. Seeks training opportunities to understand new working methods. Proves resilient in uncertain and difficult situations and adapts approach/plans/style as required.
- Responsibility and Accountability: Assumes full responsibility for the consequences of own behaviour and decisions. Delivers on commitments to clients demonstrating reliability and dependability. Admits mistakes and takes responsibility for correcting them.
- Communicating Effectively: Timely communication of new information to relevant parties. Adapts communication style and form as appropriate to the audience and illustrates an understanding of their experience and needs. Conveys complex information clearly and concisely. Persuades through uncovering shared benefits and outcomes, looking for mutually satisfactory solutions.
- Demonstrating Teamwork: Seeks collaboration as appropriate and shares knowledge/best practise and helps others when asked. Acknowledges when other members of the team are under comparatively increased pressure and volunteers to support them while maintaining responsibility for own tasks. Teaches new team members and coaches others; identifies opportunities for collaboration (NB: definition of team is extended beyond Finance MI as appropriate).
- Innovative approach: Independently finds solutions to advanced problems and identifies potential barriers to solutions and provides alternatives. Challenges assumptions and “the way we have always done it”. Embraces change and communicates the benefits of change to others.
Integrity and Control
- Use business knowledge to identify potential errors with financial impact and take steps to prevent and/or correct such errors, highlighting where necessary to management.
- Act as a conduit between the Finance department and other departments in order to maintain financial data integrity.
- Produce and maintain procedures documentation for own tasks.
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk and internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk and internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Education and Qualifications
Experienced qualified accountant (ACA/ACCA/CIMA)
Graduate with a degree from any discipline
Skills and Abilities
- Strong analytical skills (attention to detail)
- Accurate and numerate
- Computer skills:
- Excellent working knowledge of:
- Access (desirable)
- Able to communicate effectively with others, both verbally and in writing
- Motivational skills, team worker as well as able to work on own initiative
- The ability to manage time, meet deadlines and prioritise
Knowledge and Experience
Experience of a deadline driven environment
Knowledge of reconciliations and the ability to drill down to the cause of a problem
Lloyd’s experience (desirable)
Knowledge of insurance marketing and accounting policies adopted (desirable)
Understanding of GAAP reporting and consolidation accounting (desirable)
Aptitude and Disposition
Outcome focussed, self-motivated, flexible and enthusiastic
Professional approach to successfully interact with senior management, colleagues and external suppliers
Creative, with ability to develop and implement new ways of working
Strives to exceed expectations of the client and actively seeks feedback
Understanding of the need for accurate and timely management information
Stakeholder / Relationship Management
Negotiating & Influencing
Creativity & Innovation
Analytical & Conceptual Thinking