Reinsurance Accounting Credit Control Manager

3 weeks ago


City of London, United Kingdom IPS Group Full time

Reinsurance Accounting Credit Control Manager required by one of the Lloyd's Market most exciting growth businesses.
This role sits within a team responsible for the post placement management and administration of an outwards reinsurance program.
You will supervise a team of 5 reinsurance credit control specialists and at the same time provide a business partnering service to various functions including Finance, Underwriting, FP&A etc.
**Job Purpose**:

- Management of the Credit Control and Cash Allocation team
- Ownership and accountability for credit control and counterparty management oversite of broker and reinsurers to ensure portfolio performance
- Monitor reinsurance premium payments to ensure contractual obligations are met and reinsurers remunerated for cover afforded
- 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
- Coordination of FP&A reporting adding insight and acumen to Reinsurance financials across actual/budget/forecast
- Understanding of Reinsurance Accounting activity on ledger and P&L

Key responsibilities will include:
Monthly Closing Process
- Ownership and monitoring of Accrued to rendered ledger reconciliations

Non-Technical Reinsurance Accounting
- Reconciliations of the reinsurance transactions within XLPro to ensure recoveries can be efficiently made and cash allocated

Liquidity management, payments and cash flow reporting
- Ensure all premiums are settled within contract terms through monitored reporting

Balance Sheet Reconciliations
- Provide support on the Balance Sheet reconciliations assigned to the Reinsurance Accounting team to ensure that all related balance sheet reconciliations are completed in accordance with corporate Accounting Policy Memorandums, reviewed and signed-off ina timely manner.

P


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