Credit Control Analyst

Credit Control Analyst

London Full-Time 28800 - 43200 £ / year (est.) Home office (partial)
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At a Glance

  • Tasks: Manage aged debt and premium collections, ensuring accurate reconciliation and supporting audit processes.
  • Company: Aspen is a leading specialty insurance and reinsurance company, founded in 2002.
  • Benefits: Enjoy hybrid working, career development opportunities, and a supportive team culture.
  • Why this job: Join a dynamic team, improve processes, and make a real impact in the insurance industry.
  • Qualifications: Experience in credit control and the insurance industry, with strong analytical and communication skills.
  • Other info: Collaborate with offshore teams and develop your skills in a fast-paced environment.

The predicted salary is between 28800 - 43200 £ per year.

Location: London (Hybrid Working, 3 days in office)

Role Type: 12 month FTC

Role Purpose: To manage and monitor aged debt and premium collections specifically related to Lloyd’s placements. This role ensures accurate reconciliation of written versus paid premium, supports audit and reporting processes, and collaborates with underwriting, operations, and offshore teams to resolve discrepancies and improve cash flow. The role requires close working partnership with our offshore team – Genpact based in India and being responsible for the training and support of this team and being the escalation for unresolved issues. Ability to improve processes and analyse data to identify and resolve root cause issues will be critical to this position alongside routine credit control activities. Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key Responsibilities:

  • Strategy and Planning: Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery. Determines own work priorities and activities in line with agreed plans to ensure the achievement of the function’s objectives.
  • Policy, Process and Procedures: Comply with all legal and regulatory requirements to ensure obligations are met. Contribute to the review and refinement of process, procedures, and systems to continuously improve the efficiency of accounting support and administration activities. Reconcile cash received against written bordereaux (BDX) at OCC level and identify mismatches. Support the Lloyd’s aged debt reporting process, including enhancements to reporting tools and data structure. Liaise with brokers and underwriters to resolve aged balances, especially those over 90 days. Participate in monthly underwriter meetings to review and escalate overdue items. Suggest improvements to debt collection process.
  • Environmental Awareness/Customer Focus: Assist Genpact with internal and external communications. Provide advice, guidance and information on status. Maintain strong relationships with stakeholders, including internal (e.g. Internal Audit, Treasury, UWR Services) and external auditors and brokers, to ensure service delivery meets customer expectations. Develop relationships in line with the business plan for the division to support the achievement of its objectives.
  • Technical Performance: Liaise with Genpact to produce quarterly MI pack. Maintain monthly dialogue with UWS relating to reducing aged debt around assigned lines of business for all entities. Respond to Genpact Ops centre cases in a timely and professional manner. Continue to form business relationships with external brokers to aid the collection of premiums. Liaise with internal finance teams to aid the resolution of queries. Authorise and approve cash settlements in both credit control and banking environments.
  • People Management: Actively coaches and develop more junior/less experienced team members. Develops own knowledge of standard procedures and processes. Act as a point of reference to guide and advise others to ensure the sharing of knowledge and best practice. Supports others in the team where appropriate to assist in the achievement of their objectives. Coordinate with offshore teams for cash matching and query resolution.

Requirements & Skills:

  • Good knowledge of relevant processes that relate to credit control.
  • Significant experience in all aspects of tasks undertaken by credit control.
  • Insurance industry experience required.
  • Lloyd’s of London experience.
  • Knowledge of cash matching processes within delegated authority (Binder) and proportional treaty will be an advantage.
  • Thorough understanding of best practice accounting and regional accounting standards.
  • Knowledge of relevant accounting software and tools (Subscribe+ and CODA is preferable but not essential).
  • Highly proficient in MS systems such as Excel.
  • Good analytical skills and attention to detail.
  • A high level of numeracy and literacy.
  • Effective time management skills with the ability to manage priorities to meet strict deadlines.
  • Strong interpersonal and communication skills.
  • Teamwork – able to collaborate and work flexibly with others.
  • Ability to work independently and autonomously with minimal supervision.

About us: Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions. We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism. Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

Credit Control Analyst employer: Aspen Insurance Group

Aspen is an exceptional employer located in London, offering a hybrid working model that promotes work-life balance while fostering a collaborative and supportive environment. With a strong emphasis on employee growth, Aspen provides opportunities for professional development and encourages innovation in credit control processes, making it an ideal place for those seeking meaningful and rewarding careers in the insurance industry.
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Contact Detail:

Aspen Insurance Group Recruiting Team

StudySmarter Expert Advice 🤫

We think this is how you could land Credit Control Analyst

✨Tip Number 1

Familiarise yourself with the specific processes and regulations related to credit control in the insurance industry, especially those pertaining to Lloyd's of London. This knowledge will not only help you understand the role better but also demonstrate your commitment and expertise during discussions.

✨Tip Number 2

Network with professionals already working in credit control or the insurance sector. Engaging with them on platforms like LinkedIn can provide insights into the role and may even lead to referrals, which can significantly boost your chances of landing the job.

✨Tip Number 3

Prepare to discuss your analytical skills and how you've used them to improve processes in previous roles. Be ready to share specific examples that highlight your ability to identify root causes and implement effective solutions, as this is a key aspect of the Credit Control Analyst position.

✨Tip Number 4

Showcase your teamwork and communication skills by preparing examples of how you've successfully collaborated with offshore teams or other departments. This will be crucial for the role, as you'll need to work closely with Genpact and various stakeholders to resolve issues and improve cash flow.

We think you need these skills to ace Credit Control Analyst

Credit Control Knowledge
Insurance Industry Experience
Lloyd's of London Familiarity
Cash Matching Processes
Accounting Standards Understanding
Accounting Software Proficiency (e.g., Subscribe+, CODA)
Advanced Excel Skills
Analytical Skills
Attention to Detail
Numeracy and Literacy
Time Management Skills
Interpersonal Skills
Effective Communication Skills
Team Collaboration
Ability to Work Independently
Coaching and Development Skills

Some tips for your application 🫡

Tailor Your CV: Make sure your CV highlights relevant experience in credit control and the insurance industry. Emphasise any specific knowledge of Lloyd's placements and cash matching processes, as these are crucial for the role.

Craft a Strong Cover Letter: In your cover letter, explain why you are interested in the Credit Control Analyst position and how your skills align with the job requirements. Mention your analytical skills and experience in improving processes, as these are key aspects of the role.

Showcase Your Interpersonal Skills: Since the role involves collaboration with various teams, highlight your strong communication and teamwork abilities. Provide examples of how you've successfully worked with others to resolve issues or improve processes in previous roles.

Highlight Technical Proficiency: Mention your proficiency in relevant accounting software and tools, especially if you have experience with Subscribe+ and CODA. Also, showcase your advanced skills in MS Excel, as this will be beneficial for data analysis and reporting tasks.

How to prepare for a job interview at Aspen Insurance Group

✨Understand the Role

Make sure you thoroughly understand the responsibilities of a Credit Control Analyst. Familiarise yourself with terms like aged debt, premium collections, and cash matching processes. This will help you answer questions confidently and demonstrate your knowledge of the industry.

✨Showcase Your Analytical Skills

Prepare to discuss your analytical skills and how you've used them in previous roles. Be ready to provide examples of how you've identified and resolved issues, especially in relation to credit control or financial processes.

✨Emphasise Team Collaboration

Since this role involves working closely with offshore teams and various stakeholders, highlight your teamwork and communication skills. Share experiences where you've successfully collaborated with others to achieve common goals.

✨Prepare Questions

Have a few thoughtful questions ready to ask at the end of the interview. This shows your interest in the role and the company. You might ask about the tools they use for reporting or how they measure success in the credit control team.

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