Syndicate Accountants are employed by Lloyd's underwriters to prepare reports and accounts for member syndicates.
Lloyd's is one of the world's biggest insurance organisation and has over 80 syndicates run by 50 managing agents which provide a wide range of insurance products in areas such as marine, professional indemnity, natural catastrophe and aviation.
A Syndicate Accountant will be responsible for all aspects of accounting for one or more syndicate, including the production of all ledger information necessary to produce statutory returns and information to management.
Other duties include:
Preparation of the Quarterly Monitoring Return.
Liaising with syndicate employees to analyse data.
The calculation of business underwritten within a period.
Assisting junior accountants in their roles.
Regular reporting to Head of Syndicate Finance.
Input into development of internal reporting systems.
Preparation of reviews required by Lloyd's.
Production of financial forecasts.
Qualifications
You'll be expected to be a qualified accountant (ACCA, ACA or CIMA) and preferably hold the Lloyd's and London Market Introductory Test (LLMIT).
Salary Snapshot
Recent salaries for roles advertised at time of writing (Dec 2009) include:
£45-50,000 for a Syndicate Accountant.
£35,000 for an Assistant Syndicate Accountant.
£70-75,000 for a Head of Syndicate Finance.
£50-65,000 for a Syndicate Financial Accountant.
Are you a Syndicate Accountant? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
