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For Companies At a Glance
- Tasks: Manage escrow accounts and ensure compliance with financial reporting standards.
- Company: Join Avencia Consulting, a partner of a leading specialty insurer in London.
- Benefits: Enjoy a dynamic work environment with opportunities for training and development.
- Why this job: Be part of a diverse team that values inclusion and promotes a safe workplace.
- Qualifications: Strong attention to detail and proficiency in Excel; AAT qualification is a plus.
- Other info: Opportunity to build relationships and enhance client servicing in the insurance sector.
The predicted salary is between 36000 - 60000 £ per year.
About us
Avencia consulting is partnered with a leading specialty insurer who are looking to recruit a Finance Technician in their London office.
The role
Work with claims and operations to ensure best practice, compliance, and high service and data quality standards.
Key accountabilities
- Work with the Delegated Authority Manager on escrow accounts and manage escrow cash settlements.
- Set up, reconcile, and close escrow funds, ensuring alignment with claims bordereaux.
- Liaise with TPAs on escrow reconciliations and manage monthly outsourced claims funds.
- Maintain and update operational process manuals and compliance documentation.
- Validate and enter data accurately into company systems for financial reporting.
- Support TPA processes, performance objectives, and induct/train new employees.
- Promote diversity, inclusion, and a safe working environment in line with H&S legislation.
- Build strong stakeholder relationships and represent the team to enhance client servicing.
- Ensure compliance with Group and Regulator guidelines, reporting incidents or breaches proactively.
- Support risk monitoring and awareness initiatives within the branch.
Skills & experience
Must-haves:
- Strong reconciliation skills, accuracy, and attention to detail.
- Proficient in Excel, Word, and data evaluation systems.
- Strong communication and interpersonal skills; confident in technical discussions.
- Self-motivated, organised, and able to meet tight deadlines under pressure.
- Analytical mindset with problem-solving skills and understanding of insurance terminology.
- Awareness of the financial impact of processed technical data.
Nice-to-haves:
- AAT qualified or studying towards it.
- Part-qualified accountant (ACCA, CIMA, ICAEW, etc.).
Finance Technician employer: Avencia Consulting Services Ltd
Contact Detail:
Avencia Consulting Services Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Technician
✨Tip Number 1
Familiarise yourself with escrow accounts and the specific processes involved in managing them. Understanding the nuances of escrow cash settlements will give you an edge during discussions with the Delegated Authority Manager.
✨Tip Number 2
Brush up on your reconciliation skills, especially in relation to claims bordereaux. Being able to demonstrate your accuracy and attention to detail in this area will be crucial when liaising with TPAs and managing monthly outsourced claims funds.
✨Tip Number 3
Develop a solid understanding of compliance documentation and operational process manuals. Showing that you can maintain and update these documents effectively will highlight your organisational skills and commitment to best practices.
✨Tip Number 4
Strengthen your communication and interpersonal skills by engaging in technical discussions related to finance and insurance. This will prepare you for building strong stakeholder relationships and representing your team effectively.
We think you need these skills to ace Finance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your strong reconciliation skills and attention to detail. Include specific examples of your experience with escrow accounts and financial reporting to align with the job requirements.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your proficiency in Excel and data evaluation systems, and how these skills will help you contribute to the team.
Highlight Relevant Experience: When detailing your work history, focus on roles where you managed financial data or worked with compliance documentation. Use metrics to demonstrate your impact, such as improvements in accuracy or efficiency.
Showcase Soft Skills: Since strong communication and interpersonal skills are essential for this role, provide examples of how you've successfully built stakeholder relationships or trained new employees in previous positions.
How to prepare for a job interview at Avencia Consulting Services Ltd
✨Showcase Your Reconciliation Skills
Since strong reconciliation skills are a must-have for this role, be prepared to discuss your experience with reconciling accounts. Bring examples of how you've ensured accuracy and attention to detail in your previous positions.
✨Demonstrate Technical Proficiency
As proficiency in Excel and data evaluation systems is crucial, consider preparing a brief demonstration or discussing specific functions you’ve used in past roles. This will show your technical capabilities and confidence in handling financial data.
✨Communicate Effectively
Strong communication and interpersonal skills are essential. Practice articulating your thoughts clearly and confidently, especially when discussing technical topics. Be ready to explain complex concepts in simple terms to demonstrate your understanding.
✨Highlight Your Analytical Mindset
Prepare to discuss how your analytical mindset has helped you solve problems in the past. Share specific examples where your understanding of insurance terminology and financial impacts led to successful outcomes in your work.
