Norway Finance Manager

Role Title : Finance Manager Department : Finance Team : Financial Reporting Location : Norway Type : Permanent About the RoleThe primary responsibility is to be point person for all finance matters inclusive of getting involved in the preparation and oversight of timely and accurate Financial information and returns, in accordance with local GAAP requirements for the Liberty entities in the Nordics. A strong sense of accountability and ownership is required, showing agility and tenacity where necessary. The Liberty entities are an insurance carrier and a coverholder (which employs the staff and writes insurance business on behalf of the carrier). In addition, ensuring an appropriate control environment is maintained in all aspects of preparation and reporting. The role holder is expected to have ability to build relations with the local book-keeping providers who are 4sight and Value accounting and oversee the quality of their output which would then in turn be handed off to the London accounting operations team. There will also be some local budgeting and cash flow management responsibilities for the Nordics and to help liaise with the auditors on the sign off of the Liberty entity branch financial statements. About the Department & TeamLSM operates through two primary legal entities which act as (re) / insurers : Syndicate and Liberty Mutual Insurance Europe Limited (LMIE), which are regulated by Lloyd’s, the Luxembourg CAA and certain overseas regulators in respect of their branch operations. LSM also operates certain other regulated entities, both in the UK and overseas, with a range of activities, including a Lloyd’s managing agent, UK and EU service companies, and UK and EU intermediaries. In addition, the Financial Reporting team carries out accounting and reporting duties in respect of Liberty Mutual Group companies with UK reporting requirements. The Financial Reporting team is responsible for completing a broad range of external reporting requirement for Solvency II, Lloyd’s reporting, and other local regulatory regimes. In addition, the External Reporting team is responsible for the production of statutory financial statements under local reporting rules, and for monitoring levels of capital resources and requirements under UK and other solvency regimes. All of the output from this function must be delivered to strict deadlines, requiring a high level of commitment from the staff involved, in particular at quarter end and year end. Key Responsibilities

• Collaborate effectively with the Accounting Operations, Financial Reporting, Regulatory Reporting, FP&A Operations, Management Information, and Credit Control teams to ensure seamless financial operations.
• Oversee the implementation and execution of all relevant balance sheet controls prior to closing the local GAAP ledgers for LSME Norway and Sweden. The local GAAP book-keepers are 4Sight for the Norway branches of LSME / LMIE and Value Accounting for Sweden branches of LSME / LMIE.
• Maintain comprehensive and organised records for the Local GAAP ledgers, ensuring accessibility and compliance for audits and inquiries as required.
• Act as the primary liaison between EY Norway and Sweden, local GAAP providers (4sight and Value Accounting), and the Financial Reporting team to facilitate the year-end audit of branch accounts.
• Prepare journal entries and hand off to the London Accounting operations team who will post them into the Norway and Sweden branches in LSME under US GAAP. Be able to answer queries in relation to movements in the trial balances of the LSME branches.
• Prepare bordereaux statements and coordinate with the Accounting Operations, TCC, and Operations teams to ensure reconciliation between entries in the Genius System and the Bordeaux statements.
• Draft local GAAP statutory accounts and collaborate with external consultants to ensure accurate preparation and compliance with local regulations.
• Ensure all expenses are accurately accounted for, including but not limited to accruals and prepayments, while maintaining completeness of trial balances under both local GAAP and US GAAP.
• Establish a comprehensive bridge report between local, US, and Luxembourg GAAP on a monthly basis for the LSME branches.
• Conduct detailed analysis of expenses and premium income to provide the London team with relevant information for Board presentations and decision-making.
• Prepare GC papers, Board papers, and other essential documentation to guarantee the accuracy of management accounts and facilitate successful audits.
• Local budgeting and cash flow management for the Nordic offices in Norway and Sweden.
• Co-ordinate with 4sight / Value accounting who will be providing the accounting services and also related tax filing services for Corp Tax / VAT etc.
• Assist in Transfer Pricing reviews and tax submission on both a local and US GAAP basis
• Involvement in adhoc projects
• Potential Management and development of 1 direct report
• Responsible as a Money Laundering Reporting Officer and conduct business anti money laundering assessments complying with Norwegian and Swedish requirements.
• Review and enhance the overall AML framework and routines for the Norwegian and Swedish branch. Establish training plans tailored for the operations and ensure the employees are trained according to their roles.

Skills and Experience :

About Liberty Specialty Markets (LSM) Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets. Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through :