Assistant Syndicate Credit Controller - London, United Kingdom - Munich Re Specialty Group

Munich Re Specialty Group
Munich Re Specialty Group
Verified Company
London, United Kingdom

2 weeks ago

Tom O´Connor

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Tom O´Connor

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Description
Assistant Syndicate Credit Controller

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation.

We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge.

We know there is always more work to be done, but we're committed to building a strong and inclusive culture where everyone is welcomed and valued for their "own expression of self-identity".

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.


As well as operating in the Lloyd's of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai.

We are also represented in Lloyd's China.


Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.

Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable people and businesses to thrive.


Company
Munich Re Specialty Group

Location
London, United Kingdom

Assistant Syndicate Credit Controller


To be a team member in the Underwriting Management Division responsible for premium credit control, which includes monitoring premium, reporting, processing and analysing of the business underwritten by the managed Syndicates and other related Group companies (dual stamp) on a day-to-day basis.

To understand Lloyd's Minimum Standards regarding appropriate credit control and management procedures for the collection of premium.

To assist with monitoring all premium payments and ensure they are received within agreed credit terms. To undertake the processing and administration of credit control transactions so that credit control targets are achieved.


To support the central Credit Control process and ensure that it operates efficiently and effectively, that objectives are being met and to assist as the central point of contact between underwriters, brokers and relevant 3rd parties.

To support appropriate working relationships to improve premium debt performance.

The Role

  • To support the Credit Control team with the MRSG Credit Control processes and the management of accurate premium data on a daily basis including:
  • Production, analysis and investigation of aged debtor balances on a regular basis
  • Chase, resolve, negotiate and reconcile aged debt accounts and balances with brokers to enable the business to maintain an accurate record of its outstanding premium position
  • Be involved and ultimately take control of more complex reconciliations
  • Liaise closely and provide such detail to Underwriters to ensure that any premium queries and errors can be resolved quickly. Including escalation as appropriate
  • Work closely with the Underwriting teams to develop and improve the management of premium credit control within each team
  • Monitor premium payments received through the relevant policy administration systems
  • Respond to and take ownership of internal queries
  • Be aware and understand relevant KPI's
  • Interface with underwriters and other relevant teams / individuals within the group
  • Improve existing operational analysis of results and trends for premium payments and monitor EPIs and verify and ascertain more accurate data regarding unpaid premium
  • Ensure all processes are documented effectively
  • Manage tasks within agreed timetable including booking relevant review meetings with team management
  • Critically appraise all processes and assumptions on an ongoing basis with a 'continual improvement outlook' and proactively engage with relevant stakeholders to improve where opportunity existsAssist in other areas of the team and provide effective cover where appropriate as assigned
Key Skills & Experience Required

  • Minimum experience of working in Credit Control for 2 years
  • Previous experience in Lloyd's London market beneficial
  • Previous experience in Insurance essential
  • Subscribe Experience

Qualifications:


  • University Degree and/or relevant professional qualification
Your career with us

At MRSG, you'll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more

Diversity & Inclusion


Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy.

We also seek to provide a fair and supportive work environment which provides learning and developmen
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