Reinsurance Accounting Credit Controller
| Posting date: | 14 November 2024 |
|---|---|
| Salary: | £55,000.00 to £70,000.00 per year |
| Additional salary information: | Bonus, Pension, Health Insurance etc |
| Hours: | Full time |
| Closing date: | 21 November 2024 |
| Location: | London, London, EC3A 7JB |
| Company: | IPS Group Limited |
| Job type: | Permanent |
| Job reference: | 151920_1731587110 |
Summary
Reinsurance Credit Controller required by renowned global reinsurance business,
The purpose of this role will be to act as a key business partner across all underwriting lines of business and be accountable for managing trading relationships in order to reconcile and monitor reinsurance contracts in outwards systems and monitor settlement of reinsurance premium to broker and carrier.
Key Responsibilities:
The successful candidate will be expected to understand and manage the needs of key stakeholders; (Brokers/Reinsurers, Underwriting team and Group Finance) and demonstrate reinsurance knowledge and organisational acumen in order to deliver upon the RI Accounting remit.
- Ownership and accountability for credit control and counterparty management oversight of broker and reinsurers to ensure portfolio performance.
- Review and evaluation of contract terms to ensure due dates are captured allowing timely recovery of reinsurance balances
- Manage and administer credit control opportunities across all reinsurance types purchased - facultative, proportional and non-proportional treaty.
- Liaise with RI Account Handlers, underwriting lines of business, claims, brokers and clients to resolve queries.
- Utilise broker and client meetings to drive cash collection discuss broker and client payment performance.
- Knowledge sharing of portfolio handling across Reinsurance accounting team to ensure business continuity.
- Supporting key departmental initiatives and projects such as change in core reinsurance systems, control and process enhancement and e admin development
- Aged Debt analysis to ensure reduction in > 90-day debt and prevention of further debt deterioration
- Portfolio analysis of reinsurer exposure, reinsurer and broker payment performance as well as program and line of business performance
- Delivery of team training on credit control and counterparty management practice and procedure
- Contribution to FP&A reporting adding insight and acumen to Reinsurance financials.
- Understanding of Reinsurance Accounting activity on ledger and P&L.
Skills and Experience Specification:
The successful candidate will require knowledge and experience gained through working for an Insurance/Reinsurance Syndicate, Company or Broker.
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