IBA Manager, Insurance Broker Accounting

A newly created role to own UK Insurance Broker accounting operations for a large client in the London Market.

This is a strategically important hire, the first of its kind for this client with the aim to grow broker processing. The selected candidate will help productise this model for other potential clients.

Essential Experience

• Candidates must have prior experience working in IBA (Insurance Broker Accounting).
• 75% of the client’s business is UK-based; the rest spans the US, Bermuda, Europe, and Australia.
• Strong exposure to UK market regulations (e.g., FCA guidelines, Lloyd’s involvement).
• Understanding of bureau and non-bureau processes, including:

LPAN submissions

Work package handling

Premium accounting & fund collection

Settlements via Xchanging / CAS (Central Accounting System)

Desirable Experience

• Previous involvement in work transitions (client onboarding/offshoring/vendor transitions)

Key Responsibilities

• Act as a liaison between the client and the delivery teams.
• Collaborate with multiple departments (e.g., risk processing, underwriting support).
• Work closely with the client’s IBA and accounting managers.
• Be willing to visit client offices in the UK as needed, though the role is not based full-time at the client site.
• Provide subject matter expertise to support team understanding and drive execution.
• Assist with technology transitions (e.g., new platform implementation) – UAT/ desirable but not mandatory.

4. Team Structure

• The overall engagement involves 90–200 team members offshore.
• The IBA-specific team will be around 35–36 members, based in various offices across India.

Compensation & Benefits

• Proposed range: £60,000–£65,000 GBP.
• Flexibility possible if justified by candidate quality.