Project Manager - Finance

Role Profile

The Project Manager – Direct Line Reinsurance (AII) will lead and deliver business‑critical change activity associated with the integration and reinsurance of the Direct Line (DL) business into AII under the existing AIL quota share treaty.

The role will be accountable for planning, coordinating and delivering AII‑specific workstreams supporting the DL transaction, including treaty development, operational readiness, governance approvals and regulatory milestones (e.g. Part VII process and Board non‑objection decisions). 

The contractor will ensure delivery is aligned to AII governance, risk appetite and regulatory expectations, working closely with Finance, Risk, Legal and Group stakeholders. A strong understanding of reinsurance operations and financial impacts will be critical to navigating a complex, multi‑stakeholder, highly governed programme environment.

Key Responsibilities (Tailored)

Project & Programme Delivery (DL Reinsurance Focus)

• Lead delivery of AII workstreams supporting the reinsurance of the Direct Line business into AII, ensuring alignment to overall programme timelines and dependencies (including Part VII and treaty execution milestones). 


• Develop and manage detailed plans covering treaty readiness, operational readiness, and AII integration activities.


• Monitor delivery against key milestones (e.g. preliminary non‑objection, final Board approval, operational readiness) and proactively manage risks, issues and dependencies. 


• Ensure adherence to AII governance, including Steering Committee and Working Group reporting, and alignment to delegated authorities and decision frameworks. [


• Produce high‑quality, Board‑ready outputs including status reporting, dashboards, assurance packs, and input to governance papers (e.g. non‑objection papers, operational readiness updates).

Stakeholder & Governance Management

• Act as a central coordination point across AII, AIL and Group stakeholders, ensuring AII priorities and requirements are clearly represented within the broader DL programme.


• Work closely with Finance, Risk, Legal and Actuarial SMEs to support development of treaty changes, risk assessments, and financial analysis. 


• Support governance forums (e.g. SteerCo, Working Groups) by consolidating inputs, tracking actions and ensuring clear escalation of risks and decisions. 


• Facilitate alignment across multiple stakeholders on key risks (e.g. capital, liquidity, operational readiness, control environment) and mitigation plans.

Operational Readiness & Integration Delivery

• Coordinate AII’s operational readiness for the onboarding of the DL business, including systems, reporting, controls, and governance processes. 


• Track readiness across key areas (Finance operations, reporting, risk and control framework, SLA development, cedant oversight).


• Manage dependencies on AIL and DL readiness, ensuring risks are understood, mitigated and escalated where required. 


• Support design and implementation of interim and target operating models post‑reinsurance.

Risk, Control & Regulatory Alignment

• Ensure all project activity aligns with AII’s risk appetite, control framework and regulatory obligations.


• Identify and manage key programme risks (e.g. model change approval, operational readiness, financial impacts) and ensure appropriate mitigation plans are in place.


• Support preparation of materials for Board and Committee decision‑making, ensuring clear articulation of risks, assumptions and uncertainties.


• Maintain strong links with Risk and Compliance to ensure readiness for regulatory scrutiny (including PRA expectations linked to the transaction).

Continuous Improvement & Delivery Discipline

• Embed structured delivery discipline across AII workstreams, ensuring consistency of planning, reporting and governance.


• Identify opportunities to improve finance and reinsurance processes as part of DL integration.


• Contribute to strengthening AII change frameworks based on lessons learned from the DL programme.

Customer & Conduct Focus

• Ensure delivery supports good customer outcomes and maintains strong conduct standards throughout the integration.


• Consider impacts of DL reinsurance on customer experience, market stability and reputation in all delivery decisions. 

Experience & Skills Required (Tailored)

• Proven Project Manager / Change Lead with experience delivering complex, regulated change programmes within insurance or financial services.


• Strong understanding of reinsurance and/or insurance finance, with ability to operate effectively in a capital, liquidity and IFRS‑driven environment. [


• Experience delivering large‑scale integration or transaction‑related programmes (e.g. Part VII, portfolio transfers, business integration).


• Demonstrated experience managing governance‑heavy programmes, including Board and Committee reporting and decision support.


• Strong understanding of risk, controls and regulatory frameworks, with ability to work closely with Risk, Legal and Compliance teams.


• Excellent stakeholder management skills, with confidence engaging senior stakeholders across AII, AIL and Group.


• Ability to manage complex dependencies across multiple entities and workstreams.


• Highly organised, proactive and delivery‑focused, with ability to operate independently in a fast‑paced, evolving programme environment.


• Strong communication skills, including ability to produce clear, concise, Board‑ready outputs.