Expense Analyst

Job Summary                         

Supporting the Expense Business Partner (VRF) in the delivery of accurate and timely expense modelling (incl. ROI model) and portfolio management for Beazley’s Value Realisation Framework (VRF) agenda – with specific focus on canvas (business case) validation & monitoring, project variance analysis & expense management (incl. project code accounting).

To conduct oneself in line with core & partnership competencies noted below

Key Responsibilities

Supporting the Expense Business Partner (VRF) in delivering a canvas evaluation framework, portfolio management (actual & planning expenses) & business partnering relationship around the Beazley VRF agenda.

• VRF Modelling Activities
  • Assist in developing a canvas evaluation framework around the Beazley VRF agenda that supports the senior leadership teams around the business in making prioritisation decisions.
  • Support building of ROI model and ensuring its accuracy and robustness.
  • Building and maintaining a user friendly interface for populating and submitting VRF canvases.
  • Validating and standardising expense assumptions to be used and submitted.
  • Support the defining and standardisation of benefits that will be accepted within the model.
  • Creating easy to digest training materials and user guides.
• VRF Expense Process Activities
  • Review & critically challenge all VRF canvases – with specific focus on validating spending plans / profiles & any associated benefits.
  • Review & critically challenge existing project KPIs to ensure the appropriate metrics are used for the VRF canvases.
  • Assume ownership of portfolio of VRF canvases, creating total expected spend (in prioritised order).
  • Support creation of reports and presentations on total portfolio view that are required for governance committees or to the modernisation leadership.
  • Conduct quarterly refresh of the progress of expense elements within the VRF canvases to feed into annual / quarterly expense planning cycles (Forecast/Budget) and Beazley’s Project Management Office (PMO).
  • Support Global Expense Result Team on the month end expense processes for all in-flight VRF canvases.
  • Continuously strives to develop expense capabilities for process efficiency, reporting effectiveness & robustness of control framework.
• Specific Business Partner activities. These will include, but are not restricted to, the following:
  • Business Partnering to VRF stakeholders, including:
    • Populating the VRF model
    • Supporting and challenging accurate and robust submissions
    • Managing quarterly canvas refreshes
  • Reviewing and ensuring delivery of expense MI to key stakeholders and working with them to provide suitable commentary and where appropriate approval, in a timely and professional manner as suitable for the report type and audience
  • Ad hoc requests from the business 
• Technical Competencies
  • These are in addition to the Core Competencies:
    • Develop knowledge of the insurance market and the accounting policies adopted
    • Ability to build and review existing models, processes and procedures and implement improvements to improve the efficiency and effectiveness of the team
• Partnership Competencies
  • These are in addition to the Core Competencies:
    • Strives to exceed the expectations of the client and actively seeks feedback
    • Delivery of timely & accurate MI to all stakeholders, adding value at every opportunity
    • Is outward and customer focused
    • Confident in own skills and contribution; challenges the client so to support the client in achieving their optimal results
• Partnership Capabilities
  • Strives to understand all dimensions of the client and their underlying requirements as it influences their results:
    • Knowledge of individuals within the teams (incl. communication preferences)
    • Understands and identifies all key drivers (systems and processes) behind the different views of reported (Expense) results. 

Core competencies

Core competencies in addition to those noted as specific requirements for the role and which are considered to be pertinent to the Expense team are as follows:

• Analytical Thinking:  Logical analytical approach to rapidly changing data and situations. Considers wider implications across functions and varying scenarios to Beazley. 
• Professionalism: Consistently demonstrates integrity, is highly credible, respectful and trustworthy and represents the expense team in a professional manner.  Builds and maintains successful working relationships and is seen to go the extra mile
• Learning and development:  Identifies strengths and weaknesses and seeks to improve performance.  Recognises and takes responsibility for mistakes and learns from them.  Continually seeks self-development opportunities.  Regularly engages in self-assessment and gives/receives feedback to enhance personal awareness
• Adaptability:  Effectively manages changing priorities in a dynamic environment.  Seeks training opportunities to understand new working methods.  Proves resilient in uncertain and difficult situations and adapts approach/plans/style as required. 
• Responsibility and Accountability:  Assumes full responsibility for the consequences of own behaviour and decisions.  Delivers on commitments to clients demonstrating reliability and dependability.  Admits mistakes and takes responsibility for correcting them. 
• Communicating Effectively:  Timely communication of new information to relevant parties.  Adapts communication style / form as appropriate to the audience and illustrates an understanding of their experience and needs.  Conveys complex information clearly and concisely.  Persuades through uncovering shared benefits and outcomes, looking for mutually satisfactory solutions.
• Demonstrating Teamwork:  Seeks collaboration as appropriate and shares knowledge/best practise and helps others when asked.  Acknowledges when other members of the team are under comparatively increased pressure and volunteers to support them while maintaining responsibility for own tasks. Teaches new team members & coaches others; identifies opportunities for collaboration (NB: definition of team is extended beyond the expense team as appropriate). 
• Innovative approach: Independently finds solutions to advanced problems and identifies potential barriers to solutions and provides alternatives.  Challenges assumptions and “the way we have always done it”.  Embraces change & communicates the benefits of change to others.

Integrity and Control

• Use business knowledge to identify potential errors with financial impact and take steps to prevent and/or correct such errors, highlighting where necessary to management.
• Act as a conduit between the Finance department and other departments in order to maintain financial data integrity.
• Produce and maintain procedures documentation for own tasks.

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing. We also expect Beazley employees to:  

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.  This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.  These may include membership of any Beazley committees or working groups

Personal Specification

We are a flexible and innovative employer offering a friendly, collaborative,  diverse and inclusive working environment. We actively encourage and expect applications from all backgrounds. We empower people to choose where to work given the work they need to do. Collaboration in office spaces is important but we do not mandate a set number of days in the office or from home – you decide what works best for you and the role you are in.  Beazley will offer the person a competitive salary and discretionary bonus with a strong benefits package including commuting reimbursement, free in-office lunch, excellent parental leave and financial physical and mental wellbeing contributions among others.

Education and Qualifications

• Part-qualified accountant (ACA/ACCA/CIMA)
• Some experience of the insurance market, preferably Lloyd’s
• Some experience of project accounting/modelling within complex organisations

Capabilities

• Stakeholder management and relationship building
• Customer focus
• Understanding of controls frameworks including documentation
• Experience of a deadline driven environment
• Strong written and verbal communication skills
• Strong attention to detail
• Analytical and conceptual thinking
• Problem solving / Decision making
• Creativity / Innovation
• Adaptability