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- Tasks: Perform monthly reconciliations, manage escrow accounts, and support claims operations.
- Company: Join a global Corporate & Specialty Insurer with over 120 years of experience.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Why this job: Make an impact in finance while working with a supportive and experienced team.
- Qualifications: AAT qualified or part qualified accountant with strong Excel skills.
- Other info: Opportunity to grow your career in a fast-paced, collaborative setting.
The predicted salary is between 36000 - 60000 £ per year.
About us: We are working with a Corporate & Specialty Insurer. With over 120 years of experience, they operate across five continents, around 40 countries and employ over 5,000 people worldwide.
The role involves performing monthly reconciliations in Excel to 3rd Party transaction statements, monitoring liquidity positions, processing payment requests to ensure Third Party Accounts are adequately funded on a timely basis, booking related accounting entries, corresponding with TPA Brokers to investigate and resolve any discrepancies, supporting the business claims & operations departments with resolution of items, documenting processes and controls, providing monthly performance metrics for senior management reporting, and providing cross-cover for team members.
Working with claims and operations to supply a proactive and flexible service whilst driving best practice and ensuring compliance with all company procedures includes meeting agreed service and data quality standards, both internal and external.
Key accountabilities:
- Working with the Delegated Authority Manager regarding the escrow accounts.
- Managing escrow cash settlements.
- Initiating claims escrow fund set up and managing closure.
- Management and reconciliation of monthly outsourced claims escrow funds.
- Liaison point with all TPAs in relation to escrow reconciliations.
- Working with the claims operations team to ensure that claims bordereaux are booked in line with the escrow reconciliation.
- Creating and updating operational process manuals and other procedure documentation.
- Assisting with the documentation, maintenance and monitoring of compliance and governance initiatives.
- Actively participating in projects or other initiatives designed to improve the effectiveness and efficiency of the team.
- Validating and accurately entering data into company systems to enable reporting on the nature and financial impact.
Skills & experience:
- Qualifications: Qualified AAT, Part qualified accountant (ACCA, CIMA, ICAEW etc.)
- Experience: Reconciliations experience, Attention to detail, Excel proficiency.
- Other Skills: Good communication (written and oral), and interpersonal skills; comfortable with phone & face-to-face discussions with technical claims, underwriters & operational colleagues.
- Able to organise own workload effectively to meet service standards.
- Deadline focused; able to work under pressure to meet tight/complex deadlines.
- Good systems knowledge, experience of using systems to evaluate data.
- Good understanding of insurance and the terminologies used.
- Good analytical and problem-solving skills.
- Understand financial impact of technical data processed.
Key Results:
- Process Specification, Documentation & Controls
- Service Delivery
- KPI Reporting
Finance Technician in City of London employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Technician in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the finance and insurance sectors on LinkedIn or at industry events. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by practising common questions related to reconciliations and financial processes. We recommend using the STAR method to structure your answers, showcasing your skills and experiences effectively.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for tailored job listings that suit your skills as a Finance Technician.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can leave a lasting impression and show your enthusiasm for the role. It’s a simple way to stand out from the crowd.
We think you need these skills to ace Finance Technician in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Finance Technician role. Highlight your experience with reconciliations, Excel proficiency, and any relevant qualifications like AAT or part-qualified accountant status. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background makes you a great fit. Don’t forget to mention your attention to detail and communication skills, as these are key for us.
Showcase Relevant Experience: When filling out your application, be sure to showcase any relevant experience you have with escrow accounts, claims processing, or working with TPA Brokers. We love seeing real examples of how you've tackled similar challenges in the past!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy to do!
How to prepare for a job interview at Avencia Consulting Services
✨Know Your Numbers
Make sure you brush up on your Excel skills and be ready to discuss your experience with reconciliations. You might be asked to explain how you've handled discrepancies in the past, so have a couple of examples ready that showcase your attention to detail.
✨Understand the Industry
Familiarise yourself with the insurance sector and the specific terminologies used. This will not only help you answer questions more confidently but also show that you're genuinely interested in the role and the company.
✨Showcase Your Communication Skills
Since the role involves liaising with various stakeholders, practice articulating your thoughts clearly. Be prepared to discuss how you've effectively communicated with team members or clients in previous roles, especially in resolving issues.
✨Prepare for Scenario Questions
Think about potential scenarios you might face in this role, such as managing tight deadlines or handling complex data. Prepare to discuss how you would approach these situations, demonstrating your problem-solving skills and ability to work under pressure.
