Insurance Broking Accounts Technician
2 days ago
Cheltenham
Job Description Title: IBA Technician – Entry (Apprentice) Division: Insurance Broking Authority Accounting (IBA) Location: Cheltenham Reports To: IBA Manager Website: Amwins Global Risks At Amwins Global Risks, we succeed together. We’re not ‘just another London broker’ placing risks and signing contracts. We’re forging relationships that are built to last. With over 700 employees around the world and a global footprint across more than 150 countries, we’ve cemented our place as a top 10 contributor to Lloyd’s. Insurance is a relationship-based business, and achieving success means hiring the best talent in the industry. When you join us, we will encourage and support your professional and personal development as we invest in you and your learning to help you succeed and grow. We believe in a flat organisational structure that prizes expertise and relationships equally. We’ve built a workplace where talent, collaboration and inclusivity are valued, and our commitment to diversity, equity and inclusion helps cultivate an open, welcoming workplace where everyone who works with us can be themselves. Introduction This role is suitable for someone starting their working career. Alternatively, they may have some previous work experience within the insurance sector or in an unrelated industry. Job holders at this level carry out tasks, routines and procedures which are documented, well-established and subject to direct supervision. The required level of proficiency will be gained through a combination of formal and on the job learning. Job holders will develop their competence and understanding of the role through familiarisation and application of company policies and their departmental procedures. There are opportunities within our business for people with the right skills, behaviours and attitude to build their career and achieve their aspirations. IBA Technicians (Entry – Level) are supported to achieve professional qualifications with the Chartered Institute of Insurance to become Cert CII qualified. This is usually achieved via the fully supported level 3 apprenticeship route. Responsibilities Document Creation Complete standard document templates for distribution both internally and externally without errors. Documents include: • Statements containing balances due, inclusion of Treaty as per procedures and/or other offsets, • Payment requisition requests from statements Data Entry Fully and accurately view, enter, amend, update, and submit data, on and to: • Global XB – Total Objects, • MS Office: Excel/Word/Outlook/SharePoint Managing Information Create and maintain electronic and paper files: • Ensure all documents are filed in an accurate and timely manner, • Maintain an accurate record of reasons for non-payment/ aged balances, • Respond to correspondence and inquiries promptly, providing information and/or referring matters to colleagues in line with IBA/departmental procedures, • Where relevant, begin dealing with London Market Finance scheme set-up/default queries making any technical adjustments in line with departmental procedures Departmental Reports Review and update departmental reports taking action as appropriate: • Warranties Report: follow-up outstanding items in line with departmental procedures to ensure settlement deadlines are met. When necessary, notify colleagues of any imminent PPWs due, • Cash Available Report: identify, update report and pay recently available credit balances identifying monies relating to a sanctioned territory in line with payment procedures, • Unallocated Cash Report: identify and allocate cash within agreed timescales, notifying relevant Division when funds cannot be cleared, • Funding Report: review and clear funds from relevant trading partner within agreed timelines, • Claims Report: Where required, undertake regular review of report to ensure claims status and data is up-to-date, in line with departmental procedures and agreed time lines, • IBA Account Balances Spreadsheet: Review all accounts monthly and take all necessary action Reconciliation • Review and reconcile unallocated cash, • Identify and pay recently available credit balances, • Reconcile trading partner’s statements of accounts Allocating • Allocate cash receipts and settlements/payments against ledger transactions, • May allocate foreign currency in the event of sale or purchase of currencies always following departmental procedures, • Follow settlement details to ensure correct allocation of cash Statements • Create statements containing balances due in line with departmental procedures, • Identify any premiums with settlement conditions, • Identify, collect or make claim payments, • Reconcile underwriter statements in a timely manner, • Monitor and pursue unpaid Return Premiums Payments • Create payment requisition requests from generated statement, always following agreed procedures, including sanctions, compliance and bank detail verification processes Knowledge/Skills/Qualifications • GCSEs in English and Maths at Grade 5 or above (or equivalent)., • Commitment to studying and achieving the Cert CII (usually via the level 3 apprenticeship route) within an 18-24 month period., • Ability to analyse and identify key information., • Ability to problem solve using knowledge of policies and procedures., • Effective communication skills., • Decision making., • Problem solving., • Able to work under guidance rather than close supervision.
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