Leading Reinsurer Cash Operations-Operations Assistant

2 weeks ago

City Of London UK, Central London, United Kingdom Bunn Abbott Consulting Full time

Our client: is a leading writer of Property & Casualty Re/insurance. For over 25 years, they have helped customers and communities recover and build resilience through their industry-leading ability to understand risk, source efficient capital and rapidly pay claims.


Their global team shares a passion for solving their customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking


Embracing inclusion & diversity, this company truly value & look after their staff. Providing a dynamic, positive & engaging culture & first-class benefits, including some nice extras such as a free quality staff canteen, free gym (multiple gym brands, nationwide) & comprehensive wellness benefits & free City same day private GP service (for example-there are even more), combined with a comprehensive talent development programme, it’s easy to see why they enjoy low staff turnover rates offering such a great environment for positive, hardworking individuals to thrive & grow in.


The role: reporting to the AVP, Manager – Cash Operations, the Operations Assistant - Cash Contractors will be responsible for all aspects of cash management for the reinsurance transactions in their risk and accounting systems for all books of business written Globally, across multiple balance sheets.


Working as part of a really friendly & collaborative team, this varied Global role works closely with many internal departments, as well as externally with specific Broker contacts.


Due to a period of change and some internal moves, we are seeking individuals who have Credit Control experience ideally gained within a Re or Insurer (or in the Banking industry), who are available for Contract or Fixed Term Contract work.


Main Responsibilities:

  • Working closely with the Underwriting and Finance teams as part of the Operations team: Reconciliation of Broker/Cedant Statement of Accounts.
  • Booking and applying/matching of cash receipts and disbursements in reinsurance accounting system
  • Processing of all financial account messages
  • Working with technical/claims teams to resolve issues whereby cash cannot be allocated to accounts
  • Monitor accounts receivable and reports for overdue accounts (e.g. 60, 90 and 120 days) and follow up on all overdue accounts on a timely basis.
  • Review cash in suspense balances and follow up on a timely basis
  • Preparation and analysis of AR gross up
  • Liaise with brokers/coverholders and clients to resolve aged debt issues.
  • Maintenance of documentation of anticipated receipts, cash disbursements and broker queries/follow-ups.
  • Management of all intercompany payments and receipts.
  • Provide regular updates to team and manager
  • Assist in creating efficiencies and value creation (review existing processing and propose updates/changes as appropriate)
  • Participate in any special projects or ad hoc tasks that may be required by either Internal or external parties.
  • Ensure all functions are carried out with a high degree of quality, in a timely manner.


Requirements:

  • Approximately 4 years + experience ideally in Credit Control, Cash Management or Finance gained in a Re/Insurer. We also keen to consider applicants with similar experience gained in the Banking industry specifically.
  • Strong Microsoft Excel skills & the ability to pick up new systems quickly.
  • We are seeking candidates with excellent Problem Solving, analytical, organisational and written and verbal communication/relationship building skills.


We look forward to receiving your application


Please note that if you have not heard from us within 7 days, your application has not been successful on this occasion


Bunn Abbott Consulting is acting as an Employment Agency in relation to this vacancy.

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