IBA Accounts Technician
Salary £25000 - £50000 per annum
Consultant Mel Purdy
Date posted 11 October 2016
We are looking for 5 IBA Accounts technicians for a 6- 12 month contract based in bedford. To undertake high quality accounts-processing and administration including cash reconciliation, dealing with queries, credit control, investigation, analysis and processing payments.
Key Responsibilities / Accountabilities for a IBA Accounts Technician
- Undertakes administration and processing of financial transactions which may include: reconciling incoming premium and claims receipts, claims payments, returned premiums etc, ensuring they are matched to the correct accounts and updated correctly on systems.
- Ensures payments are processed correctly (including underwriters’ commission), completing paperwork, updating systems and passing for delinking and/or to cashiers or, where relevant, authorising payments directly on the relevant Broker platform.
- Involved in the agreement of creditor balances with insurers and ultimate clearance of these creditor balances from the ledger.
- Investigates and resolves queries that ultimately result in the clearance of the relevant debtor or creditor.
- Analysis of accounts to understand the history of the account thus enabling the resolution of the query and ultimately the clearance of the relevant debtor or creditor.
- Refers un-agreed transactions to the appropriate division in order to progress payment processing.
- Analyses the ledger and transactions to identify the funding and bad debt exposure within the ledger. Identifies ways of clearing this exposure.
- Extracts information into Excel from systems (e.g. SECTOR and BROKASURE) using this to produce reports which enable analysis and informed action.
- Extracts information into Excel in order to produce client statements, checking information, anticipating questions, raising queries and providing appropriate commentary before sending direct to client or via the relevant division.
- Investigation of aged debt and liaison with the client/division to ensure payments are made.
- Contributes to the reconciliation of historic “unallocated” payments, undertaking investigation (e.g. on SECTOR/BROKASURE or with account handlers), to enable these to be allocated to the correct client/account.
Skills and abilities required:
- Competent IT skills, including but not limited to Microsoft Word, Excel (Intermediate) and PowerPoint.
- Strong numeracy skills.
- Flexible and able to adapt quickly to change, positively and productively.
- Motivated and resilient.
- Methodical, accurate and strong attention to detail.
- Ability to communicate effectively, both verbally and in writing, with internal and external stakeholders.
- Able to work independently and use initiative.
- Organised, with good planning/time management skills to achieve tight deadlines/targets.
- Analytical and able to solve problems.
- Professional and personable team player.
- Resilient and calm under pressure.
- Customer focussed.
IBA Accounts Technician - skills required:
- Significant experience of working within a Legacy IBA Department of a Lloyd’s Broker.
- Experience of working in Legacy clearance projects including bad debt and funding clearance projects.
- An understanding of general principles of insurance.
- Understanding of company objectives and how own role contributes to these.
- Knowledge of accounting process and insurance market.
- Awareness of regulatory environment and requirements including FCA rules, data protection, money laundering etc.
- Bureau Submissions
- Exposure to physical claim and/or placing files
- London Market background (Broker – essential, Insurer / Syndicate in addition is also desirable)
- Exposure to IBA / Finance within the industry desirable (particularly Lloyds / IUA settlements)
- Claims or Premium transaction processing
- Credit Control exposure helpful
- Awareness and understanding of the Regulatory Environment in which we operate
- Line slip and/or Binder authorities preparation & submission particularly helpful
- Marine / Aviation / Energy are particular classes of interest
System Skills Prefered
- Brokasure (Desktop version ideally, ER & EA sufficient) - Data interrogation and premium / claim processing
- Sector - Data interrogation and premium / claim processing
- Xchanging – LORS, ECF Submissions, CLASS, IMR and Settlement processes
- Microsoft Office – Intermediate essential (advanced preferred)
If you would like to apply for this role please forward your CV to email@example.com or call 01908 044000