Accounting & Finance
Unsure where to take your career forward as a professional in Accounting & Finance? We can help! Gravitas are specialists in Insurance recruitment, providing an unrivalled service in placing Accounting & Finance jobseekers into roles perfectly suited for their career development journey.
Whether you are junior, management or C-suite executive level, our consultants will help highlight the market’s most interesting opportunities, using specialist knowledge in Life Insurance, General Insurance and Reinsurance. Find out more about our award-winning services.
We help candidates find roles across all of the following areas.
Financial Reporting
A crucial process, Financial Reporting is the process of collecting, documenting and providing analysis of an insurer’s financial activities in alignment with International and Local Financial Reporting Standards as well as Regulatory Finance bodies. This is communicated to external bodies such as shareholders, stakeholders and investors so they can manage their financial health and make informed decisions. Financial Reporting Officers, Analysts and Managers oversee these areas ensuring communication and reports are transparent, timely and insightful.
Financial Planning & Analysis (FP&A)
Financial Planning and Analysis aids decision making and thinking through activities comprising analytics, budgeting, and forecasting on a company's financial strategy. Often communicating across business units and providing comprehensive reports to senior management on financial performance, FP&A Officers or Managers have an important role in assessing the insurance company’s financial health, highlighting market opportunity, and ensuring the company remains competitive.
Investment Accounting
Investment Accounting is the process in measuring and monitoring a company’s investment activities. Investment Accountants will use their knowledge of financial markets, regulations and governance requirements to consult on investment decisions and financial strategy. Their responsibilities will include categorising assets, understanding the assets value as well as providing reporting to clientele.
Finance Transformation
Finance Transformation Officers, Managers or Consultants have grown in demand in the past few years since the Financial Industry has experienced a great amount of change especially with IFRS17, and organisations are wanting to uncover how they can take advantage of these changes. Financial Transformation specialists will help organisations assess their current services and processes, identify areas of improvement and help action new strategies to achieve new goals.
Finance Operations (FinOps)
Within Finance departments of Insurance companies, the FinOps (AP/AR/GL) function is integral components ensuring smooth financial operations. Accounts Payable manages timely payment of invoices and bills, crucial for maintaining positive relationships with vendors and service providers.
Conversely, Accounts Receivable oversees the collection of premiums and other outstanding payments from policyholders, ensuring a steady cash flow essential for meeting financial obligations.
The General Ledger function serves as the central repository for recording all financial transactions, providing a comprehensive view of the company's financial health. It facilitates accurate financial reporting, regulatory compliance, and strategic decision-making by senior management.
Together, these functions form the backbone of financial management within the company, promoting efficiency, transparency, and accountability in financial processes.
Top tips for a career in Accounting & Finance within Insurance
Expert advice from Business Manager, Alexis Loh
Commitment to certifications
In Accounting & Finance positions, it is advantageous for professionals to complete a Certified Public Accountant (CPA) qualification for a successful career.
The average amount of time it will take to achieve a qualification is between 2 – 3 years to meet all necessary requirements. However, this commitment demonstrates passion and hard work when embarking on your career journey.
The impact of market change
The Insurance industry undergoes regular change, which will ultimately make change to specialist roles in insurance. For instance, if there are new requirements, this will affect operations, processes and service to businesses. It’s important to keep an active eye out on the market, researching regularly on upcoming events or news.
Not only can you be the first to know about these changes, but you can be adaptive and lessen their impact on your work.
Effective communication
Accounting & Finance positions are most successful when you have mastered good communication, stakeholder management and negotiation skills. You will be conversing between different people each day such as different departments, clients and external bodies.
With each business connection you make, active reflect on how you are maintaining a good relationship and how you can improve, so you can build on your skills overtime to reach excellent communication skills.