Description
Job Description
Job Summary :
End to end back office service for Insurance Broking Accounts (IBA)
Years Of Experience Needed
Min 3-5+ years of experience in insurance, accounting, or another financial services sector
Responsibilities
Perform credit control
Perform cash and payment reconciliation and system allocation
Perform client and insurer statement reconciliation
Premium and return premium collections – including providing reminders to Broker, Account Executive, Insured, and Insurers
Follow up and query management for unmatched cash, uncollected debt, queries preventing settlement to Brokers, Insureds, Insurers and third parties etc.
Make payments to Clients, Brokers, Insured’s, Insurers and third parties including approving payment per the agreed approval process (Bureaux and Non-Bureaux)
Collect funded balances
PPW and PPC payment ownership
Ensure adherence to FCA client money rules
Other tasks as required by the Team Manager or Senior Technician
Relationships
Team members
Regular interaction with technicians & Jr Technicians to review and provide guidance on deliverables
Mentor Trainee Technicians
Others
Within The Company
Collaborate with stakeholders to identify improvement opportunities and manage expectations
Participate and proactively contribute to new project related initiatives
Outside The Company
Liaise with the Clients, Agents, Retail Brokers, Insurers
Education
Graduate/Post Graduate
Work Qualifications
Insurance or accounting industry qualification is a plus
Experience
Essential:
Experience in one of these areas: credit control and cash allocation, accounts payable, account reconciliation
Understanding of end to end insurance process
Added Advantage But No Compulsion
IBA experience in specialty insurance
understanding of Bureau (Xchanging)
Cass 5 Client Money rules
Skills & Abilities
Ability to manage process exception
Exceptional communication skills
Attention to detail
Excellent analytical and problem-solving skills
Teamwork
Relationship building skills
Integrity and trustworthiness
Ability to mentor and motivate other
About Mphasis
Mphasis applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients