Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.
The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
The insurance companies of Chubb serve multinational corporations, mid-size and small businesses with property and casualty insurance and services; affluent and high net worth individuals with substantial assets to protect; individuals purchasing life, personal accident, supplemental health, homeowners, automobile and other specialty insurance coverage; companies and affinity groups providing or offering accident and health insurance programs and life insurance to their employees or members; and insurers managing exposures with reinsurance coverage.
With $150 billion in assets and $37 billion of gross written premiums in 2014* on a pro forma basis, Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best.
Chubb’s parent company is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide.
IFRS 17 is an international insurance accounting standard change that impacts the statutory financial reporting for a number of Chubb entities in Asia-Pacific, Latin America, Eurasia, Africa & Canada (not Europe). As part of its IFRS17 program, Chubb is in the midst of rolling out a new finance system to comply with IFRS 17 using a central and local team approach. A pilot of the finance system is underway with future roll outs to countries and regions expected in future years.
Analyse, define and document detailed business requirements for IFRS 17 accounting and reporting solution, e.g. writing transaction data hopper requirements mappings for interfacing into central solution
Works closely with the accounting policy and actuarial workstreams to ensure solution meets the business requirements
SME on product (GMM, PAA, VFA measurement models) lifecycle events and associated accounting rules and how to design and implement into the central solution
Advises source systems (actuarial, policy & administration, data preparation & staging layer(s) on the behavior/requirements of lifecycle events, so that the correct business events can be sourced to drive the accounting and reporting requirements
Provides input and supports the master reference data and associated sourcing and configuration requirements
Works closely with the regions and countries to support and develop their understanding of the central accounting & reporting solution
Responsible for modelling business requirements and lifecycle use cases as a basis for configuring the central solution.
Working with multiple 3rd party local and global vendors to ensure that the accounting & reporting solution is correctly configured and designed in readiness for validation and testing
Responsible for the design, planning and execution of central accounting & reporting solution systems both from a functional and user perspective Support and investigates system test, integration test, performance test and UAT defects
Actively contributes and participates in the data take-on/conversion strategy and approach
Works with central and local project management, central and relevant local workstreams to support planning and execution of delivery plans
Actively supports the transition of knowledge of the central accounting & reporting solution across the global organization
Experience & Skills Required
GAAP conversion experience
Financial reporting knowledge
IFRS knowledge and US GAAP accounting
Preferred Bachelor’s degree in accounting, statistics, economics or related.
Preferred professional qualification in accounting or actuarial
Project management qualification (preferred)
Work Experience Requirements
10+ years’ relevant experience in the insurance sector with at least 5 years in similar positions of progressively increasing managerial responsibilities.
Detailed knowledge of insurance processes related to accounting, reporting, actuarial risk, operational and financial processes and requirements.
Ideally clear understanding of IFRS17 requirements and impacts on business functions and technology infrastructure.
Insurance product knowledge and associated accounting expertise
• Competitive salary & pension scheme • 25 days annual leave plus ability to purchase 5 additional days • Private Medical cover • Employee Share Purchase Plan • Life Assurance • Subsidised gym membership • Comprehensive Learning & development offering • Employee resource groups: Gender Equality Network, Abilities & Wellbeing, Social Mobility, Parents & Carers, Pride Network, Cultural Awareness Network. • Networking, mentoring & development opportunities. • Agile working environment (London only adverts) • 1 day annual Charitable leave • Cycle to work scheme • Active Sports & social committee • Employee Assistance program • Monthly free breakfast (London only adverts)
Our core values dictate how we live and work. We’re an ethical and honest company that’s wholly committed to its clients. A business that’s engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that’s collaborative and supportive.
Diversity & Inclusion At Chubb we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances. https://www2.chubb.com/emea-careers/working-for-us/diversity-inclusion.aspx
Work Location: London - LeadenhallJob Function: Finance Employment Type: Permanent