An international Insurance company based in Malta is searching for an Assistant Financial Controller to join their team. The Assistant Financial Controller (AFC) is the technical accounting expert responsible for the complete and accurate financial recording and reporting for the Gibraltar and Malta entities. This pivotal role owns the end-to-end process for insurance transactions, from the extraction and validation of source bordereaux through to complex reinsurance workings and final general ledger postings. The AFC ensures the integrity of the financial ledgers, delivers rigorous reconciliations, and provides critical analytical support, serving as the primary source of technical financial data for the Financial Controller.
MAIN DUTIES & RESPONSIBILITIES
Technical Accounting & Financial Control
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Extract, validate, and process all underwriting and claims bordereaux.
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Post all general ledger entries for gross insurance transactions (premiums, claims, commissions).
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Prepare monthly reinsurance (ceded) workings, including treaty, XOL, and facultative arrangements, with related postings.
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Calculate and record unearned premiums, commission income, and deferrals.
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Perform reconciliations for all key control accounts (e.g. trade debtors, reinsurance brokers).
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Maintain a strong financial control environment with clear, auditable documentation.
Financial Reporting & Analysis
- Lead technical inputs into the month-end close, ensuring timely and accurate completion.
- Provide validated data and journal postings to support management accounts.
- Deliver initial variance analysis against prior year and budget.
- Analyse broker performance against TOBA targets and support profit commission accruals.
- Provide historical data and insights for forecasting and budgeting.
Compliance, Audit & Business Partnering
- Provide accurate data for internal/external audits and actuarial reserving.
- Ensure all financial practices comply with accounting standards, company policies, and regulatory requirements.
- Partner with Underwriting, Claims, and regional finance teams to ensure consistency and integrity of information.
- Identify and implement process improvements to strengthen accuracy, efficiency, and controls.
CANDIDATE PROFILE
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Qualified accountant (ACA, ACCA, CPA, or equivalent).
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Minimum 3 years’ post-qualification experience in financial control or accounting roles within the insurance sector.
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Strong technical knowledge of insurance and reinsurance accounting.
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Proven experience in financial control, reconciliations, and month-end processes.
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Advanced Excel skills; familiarity with financial systems (SAP, Oracle, or similar) desirable.
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Exceptional attention to detail and commitment to data accuracy.
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Strong analytical and problem-solving skills with a proactive mindset.
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Ability to manage multiple complex processes under tight deadlines.
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Excellent communication skills and ability to collaborate across finance and operational teams.
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Direct experience in the Malta insurance market is essential. Experience in the Gibraltar insurance market is advantageous.
COMPANY BENEFITS
Due to the high volume of applications received at GRS Recruitment, only shortlisted candidates will be responded to.