Finance and accounting

The financial services industry is constantly trying to keep up with the ever-changing behaviour and expectations of its customers and with rapidly advancing technology. 

Continual updates and improvements to processes and services require time and resources, and this can compromise the quality of financial accounting and regulatory reporting.

At Capita, we work with many businesses that are highly regulated and we understand the requirements placed on businesses for more transparency and for detailed, accurate financial information and accounting. Our team of experts will oversee all your financial accounting, or, alternatively, we can develop a bespoke service.

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Our approach

Financial accounting tasks and preparation

We carry out financial accounting tasks, including the preparation of statutory accounts, Solvency II reporting and regulatory returns (such as those reported to the FCA, PRA, Lloyd's of London and Association of British Insurers). We can:

•  Prepare monthly, quarterly, half-yearly and year-end accounts
•  Work with our clients' external auditors
•  Provide post-actuarial liability and other expense-related services
•  Provide post-investment related entries (e.g. realised and unrealised gains, shares, etc.)
•  Provide cash forecasts and other MI, including claims and premium analysis

Analysis and informed management decisions

We know that the timely provision of accurate financial results and analysis is vital to your business, not only so that you can fulfil your regulatory obligations, but also so that you are able to make informed management decisions.

Our services

  • Clean-up of legacy balances
  • Collection of inward premiums
  • Validation of EPI to premium received/signed
  • Collection of reinsurance recoveries
  • Debt recovery
  • Clean-up of legacy ledgers
  • Control of electronic messages
  • Issue of statements and resolution of outstanding balances
  • Reconciliation of broker statements and settlement of outstanding balances
  • Matching of cash to technical balances
  • Liaison with brokers
  • Bank mandates and electronic banking processing receipts
  • Transfers to and from deposit/investment accounts
  • Daily monitoring of bank accounts
  • Maintaining and monitoring cashbook, nominal ledger, purchase and sales ledgers
  • Reconciliations
  • Calculating commissions, provisions, etc.
  • Annual report and financial statements
  • Full supporting schedules
  • Dashboards and KPIs
  • Forecasts, budgets and plans
  • Cashflow reporting (actual and forecast)
  • Pool statements
  • Cash calls/distributions
  • Payroll
  • Company secretarial
  • Lloyd’s – quarterly and annual reporting, including QMR, Pillar 3 and overseas reporting
  • PRA – quarterly and annual Solvency II reporting
  • FCA reporting
  • VAT and IPT returns
  • Draft tax computations
  • Companies House
  • Office for National Statistics

Client testimonial

Capita has the scale of resources and breadth of expertise to do large contracts and the financial stability to reduce counterparty risk.

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Get in touch if you have a question or would like to explore how our solutions could help your organisation.

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