Finance Analyst - Temp Position

Finance London, United Kingdom

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  • Location:

    London, United Kingdom

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Position at Tokio Marine HCC


Job Title:

Finance Analyst




International Finance

HR Contact:


Reporting To:

Credit Control Manager

Position Type: (i.e. permanent/ftc, etc.)


Direct Reports:




Job Description


Job Purpose:

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.


The Finance Operations team (“Fin Ops”) sits within International Finance responsible for delivering quality internal and external outputs to all stakeholders within a controlled framework for insurance technical, cash, treasury and expense accounting activities.


The successful applicant will be joining at an exciting time as we invest in strengthening the Finance Operations team and enhancing processes and controls whilst driving for continuous improvements. This newly created role will focus on processing and performing the bookkeeping for all tax related entries across TM HCC, working with the International Tax department and wider International Finance teams.


Overall control of tax will be performed by the International Tax department with this Finance Operations role being responsible for the following:


  • Adherence and execution on policy, data preparation, initial validation of taxes on insurance premiums and processing of taxes
  • Confirmation that payments of premium taxes are correctly shown in the underwriting systems and cash is allocated on a timely basis
  • Preparation of Balance Sheet reconciliations of insurance taxes (such as IPT, FET, GST, WHT) and active management of any outstanding items


Key Responsibilities:

  1. Preparation of data for premium tax returns
  • Collating, validating and producing tax split reports for the European jurisdictions
  • Organising tax data by location and generating the tax payable amounts by territory
  • Where necessary, confirm premium tax rates and applicability using available online tools
  • Completing the tax declaration templates and performing a self-review prior to sharing with the International Tax team and to the outsourced company for submission
  • Liaising with Treasury for top-up payments at the end of each month and any ad hoc payments
  • Using multiple sources (including Cognos) to extract tax data and presenting in a consistent format
  • Provision of Irish IPT datasets to the accounting team in Leicester
  • Validating IPT rates applied at source and liaising with the respective teams for corrections
  • Liaising with the French, German, Italian and Spanish branches
  • Effective liaison within the wider Finance teams, tax, legal entity reporting and internal audit colleagues and with external stakeholders (e.g. external auditors and service providers)
  • Preparation of UK Premium Tax returns


  1. Accounting:
    • Ensuring premium taxes and cash entries are correctly recorded with the General Ledger
    • Reconciling the Premium Tax Balance Sheet accounts across HCL, HCCI, TME and Syndicate and signing off in accordance with the monthly close timetable
    • Monitoring and reconciliation of other Balance Sheet accounts relating to Insurance taxes such as IPT, FET, GST and WHT
    • Performing cash allocations within the source systems


  1. Finance Change and Transformation:
    • Drive continuous improvement and standardisation through reviewing current processes, identifying opportunities and implementing change working in conjunction with European branch finance colleagues
    • Identify and implement areas of automation
    • Ensure all key processes and controls are appropriately documented and being adhered to


  1. Relationship Management:
    • Develop effective working relationships with all key stakeholders, principally within the wider Finance Operations team, Tax department and European branch finance


  1. Other:
    • Develop a broad understanding of TM HCC’s business and operations to validate accounting and reporting outputs; enable efficient and effective query resolution; challenge outputs are as expected and aligned to cost allocation principles.
    • Develop a very good understanding of finance ledgers, reporting and interrogating data in systems in order to be able to operate effectively, further optimize processes and contribute to future system enhancements and changes.


Qualifications and Experience Specification:


  • Advanced excel skills, pivot tables, formulas and general ledger accounting system knowledge / ability
  • Highly numerate with excellent attention to detail and accuracy
  • Strong communication and interpersonal skills



  • Experience working in an insurance business
  • Experience in preparation of insurance premium tax returns
  • Awareness of other insurance taxes such as Federal Excise Tax
  • Experienced initiating and driving process and financial control improvements
  • Experience initiating and implementing change within Finance
  • PeopleSoft GL and MicroStrategy


Soft Skills

  • Encourage a culture of continuous improvement and ‘end to end’ process thinking
  • Energy, enthusiasm, persistence and adaptability
  • Professional approach and delivery of work product
  • Ability to influence and lead others
  • Focus on timely delivery of quality outputs
  • Excellent communication and interpersonal skills
  • Commercially minded, critical thinker with a keen eye for the detail
  • Assertive but sensitive to conflicting demands on others.

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