Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Assistant Financial Accountant

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 10811 Company Great Lakes Insurance SE Employment type Regular Area of expertise Finance, Accounting & Controlling
Apply Now

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

It is an exciting time to join our growing and evolving organisation. Help us shape the future of primary insurance service provision!

About the role:

We are looking for an accountant to provide accounting support to several key re/insurance entities and service companies within the Munich Re Group.  This is an exciting opportunity for an accountant looking to work in a supportive team providing accounting services to entities generating c. £3.7bn premium and growing.  Responsibilities are varied and shared, with a focus on cost controlling, ensuring appropriate recharges from our key service company to our business units, accruals, prepayments, and some statutory and group reporting.  The role would provide the right individual with a grounding in several important areas of an in-house finance function.    

Key responsibilities:

  • Take a lead role in the shared cost allocations process and in the preparation and accounting for recharges from the UK service company to business units
  • Cost reporting, taking responsibility for providing meaningful, timely and accurate data
  • Ensure cost accounting is in accordance with Group guidelines
  • Prepare accruals and prepayments, collaborating with others across the team and business units
  • Work closely with HR colleagues to ensure appropriate accounting for and recharge of payroll and associated costs
  • Quality assurance of costs
  • Issue customer invoices on GRIPA, liaise with service recipients, agree and manage balances in accordance with Group requirements
  • Support the wider team on statutory and Group reporting and on general accounting topics
  • Collaborate with team members and others to work through the closing processes as efficiently as possible
  • Play a keen and proactive role in ongoing process automation and improvements

Competencies:

Nimble learning (we think big) – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.

Collaborates (we lead the ‘we’) – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.

Optimises work processes (we grow with our clients) – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.

Resourcefulness (we care and dare) – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.

Communicates effectively (we are clear and authentic) – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way.

Key Skills & Experience:

  • Excellent understanding of general book-keeping – including preparing and posting journals
  • Experience in a general accounting team, ideally in a large global organisation in which adherence to Group standards is required
  • Excellent customer service skills
  • Able to communicate clearly and concisely in person/online and in writing. Good presentation skills when presenting work done
  • Comfortable dealing with employees at all levels of seniority
  • Experience of a quarter end fast close and the ability to work to tight deadlines
  • Working knowledge of SAP
  • Microsoft Excel and Word: intermediate/advanced level

Qualifications and Educational Requirements:

  • At least full member of AAT or other equivalent recognised accounting qualification.  Part-qualified ACCA (or equivalent) students would be very welcome to apply and we would be keen to support you through your studies.

Thought Leaders:

You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.


If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for! 

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Apply Now

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.