Job Details

Insurance Credit Controller

London, United Kingdom, £35,000 - £40,000 , Permanent

Posted: 21 hours ago


London Based Insurance Firm / Insurance Credit Controller / £35K- £40K / Hybrid Working

Your new company
This London based Insurance firm focuses on low volume and high value transactions. There is a small team based within the London office but they have a large international profile. They operate internationally and work with a large amount of big named international companies.

Your new role

  • Review and understand Global (underwriting system) endorsements processed by the underwriting team and associated contractual documentation, invoices etc
  • Review and understand Global (claims system) entries processed by the Claims team - in particular outwards reinsurance recoveries
  • Monitor the due dates of pending items (receivables/payables) and contact the relevant counterparty ahead of the due date to obtain a timely settlement
  • In the even that the pending item becomes overdue, engage with the counterparty to expedite settlement as soon as practicable
  • Collaborate with the underwriting team if endorsements are required to reconcile the original pending items to updated values advised by the policyholder
  • Investigate cash receipts to ascertain which pending items have been settled in the eyes of the counterparty
  • Recommend cash payment/receipt offsetting against pending items to other members of the Accounting team
  • Advise other Accounting staff if the offsetting triggers any related activity (eg, IPT payable)
  • Produce MI for the CFO, other teams, the Board, Head Office as appropriate
  • Develop a database to record actions on overdue items and unidentified cash to make it easier to follow what actions have been undertaken
  • Investigate historical uncleared pending items with a view to collecting, paying or writing them off
  • Assist the CFO with his MI for (i) pending item management (ii) Global contracts (iii) Global claims and (iv) reinsurer database
  • Any other tasks that the company may reasonably assign from time to time, according to business needs

What you'll need to succeed

  • Accounting/Finance degree or equivalent desirable
  • Progression towards a professional qualification such as ACCA, ACA or CIMA

Skills & Experience

  • Knowledge of accounting practices and principles including thorough practical experience of bookkeeping or maintaining accounting ledgers. Comfortable with debits and credits. Can relate the technical features of the work to the trial balance and accounting outputs
  • Non-life insurance accounting experience essential

Key Competencies

  • Attention to detail and accuracy
  • Ability to digest technical documents and the impact on accounting entries
  • Planning and organising; can be flexible about priorities according to business demands; awareness of demands on the Company's staff
  • Good communication skills - many counterparties will be based abroad
  • Problem analysis and problem-solving skills
  • Use own initiative; inquisitive
  • Perseverance
  • Collaborative and supportive of co-workers
  • Confidentiality
  • Awareness of the importance of performing financial controls and various compliance expectations within a financial services firm
  • Confident in using spreadsheets. Has the ability to critique functionality and adapt/create better solutions

Excellent work ethic; accepts the job role necessarily has a mix of routine and more complex tasks but applies high professional standards to both

What you'll get in return

  • £35K-£40K Salary
  • Insurance Sector Experience
  • Exposure to underwriting Insurance responsibilities

What you need to do now
If you're interested in this role, click 'apply now' to forward an up-to-date copy of your CV, or call us now.
If this job isn't quite right for you but you are looking for a new position, please contact us for a confidential discussion on your career.

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Job Details

London, United Kingdom
£35,000 - £40,000