Credit Controller - London, United Kingdom - r10

Description

Credit Controller

LOCATION:
London
SECTOR: Insurance
JOB TYPE: Consultant


ASSIGNMENT OVERVIEW:

Our client, a multi-class MGA and Lloyds syndicate, requires the expertise of two Credit Control specialists to manage credit control activities of complex lines of business; with a primary focus on reconciliation of Insurance fund accounts and insurance ledger reconciliation.

This assignment will ensure the efficient management of insurance accounts and involves working in international settings and dealing with diverse international clients across different territories and complex lines of business.

ASSIGNMENT OBJECTIVES:

• Insurance Ledger Reconciliation
  OR Bank Reconciliation for Insurance Fund Accounts:

Insurance Ledger Reconciliation:

• Lead the reconciliation of insurance accounts, ensuring accuracy and completeness.
• Identify and investigate discrepancies in the insurance ledger and take appropriate corrective actions.

Bank Reconciliation for Insurance Fund Accounts:

• Perform regular bank reconciliations for insurance fund accounts to ensure that all transactions are accurately recorded, and discrepancies are promptly addressed.
• Monitor and reconcile incoming premium payments received, outgoing claims settlements, outward premiums to capacity providers, and other financial transactions related to insurance fund accounts.
• Collaborate with the Finance, MI, Claims and Underwriting Support team to ensure prompt allocation of funds against insurance policies.

Broker/Client Communication:

• Identify Broker contacts and initiate communication for Broker's Insurance Ledger Reconciliation.
• Maintain open and effective communication with clients regarding outstanding premiums, payment, and credit terms.
• Resolve client inquiries related to invoices and payments in a timely and professional manner.

Credit Control Management:

• Monitor outstanding insurance premiums and initiate collection efforts when necessary.
• Collaborate with underwriting teams to develop strategies for reducing aged debt

Analysis and Reporting:

• Aged debt analysis
• Monitoring and reporting of unallocated cash balance

YOUR EXPERIENCE & SKILL SET:

• Proven experience in credit control within the London Insurance Market / Lloyd's Syndicate
• Familiarity with MGA partnerships, premium collection, and cash flow processes.
• Track record of successful ledger reconciliation.
• Understanding of wide range of Insurance and Reinsurance products as well as delegated underwriting authority.
• Strong knowledge of insurance premium billing processes, bank reconciliation procedures, and accounting principles.
• Exceptional communication and negotiation skills.
• Excellent analytical and problemsolving skills.

Job Types:
Temporary contract, Freelance

Contract length: 6 months


Salary:
£200.00-£350.00 per day


Experience:

- insurance: 1 year (preferred)

- credit control: 1 year (preferred)


Ability to Commute:

• London (required)

Ability to Relocate:

• London: Relocate before starting work (required)

Application deadline: 05/11/2023


Reference ID:
CreditControllerV23