At a Glance
- Tasks: Administer premium finance agreements and ensure accurate payment processing.
- Company: Join Lycetts Insurance Brokers, part of Benefact Group, in Newcastle.
- Benefits: Competitive salary, hybrid working, generous leave, and career development support.
- Other info: Enjoy a dynamic workplace with opportunities for professional growth.
- Why this job: Make a real impact in finance while working in a supportive environment.
- Qualifications: Experience in financial administration and strong numerical skills required.
The predicted salary is between 30000 - 40000 £ per year.
Working hours: 35 hours per week, Monday to Friday
Duration: Permanent
Location: Newcastle Upon Tyne
About The Role
Lycetts Insurance Brokers, who are proudly part of Benefact Group, are looking for an Insurance Finance Administrator to join our Newcastle office. At Lycetts, we’re known for our specialist expertise and exceptional service, and we’re looking for a detail‑focused individual to support our premium finance function.
As an Insurance Finance Administrator you'll be responsible for the accurate and timely administration of premium finance arrangements within our insurance broking business. You’ll ensure finance agreements are set up correctly, payments are processed and reconciled efficiently, and queries are handled promptly. Your role will help maintain strong cash flow, data integrity and compliance, while delivering a high‑quality service to both colleagues and clients.
What you’ll be doing:
- Administer premium finance agreements from initial setup through to settlement
- Ensure accurate input and maintenance of premium finance data on broking systems
- Process and reconcile premium finance payments and lender statements
- Monitor client payment activity and support arrears and cancellation processes in line with policy
- Respond to queries from broking teams, finance, and premium finance providers
- Support month‑end and periodic reconciliations relating to premium finance accounts
- Maintain accurate records and documentation in line with audit and regulatory requirements
- Support the production of management information where required
- Adhere to FCA requirements, Treating Customers Fairly (TCF), and internal procedures
- Contribute to continuous improvement of premium finance processes and controls
What you’ll need to have:
- Experience handling reconciliations, payments, or financial administration
- Strong numerical and data‑handling skills
- High attention to detail and accuracy
- Good organisational skills with the ability to manage routine deadlines
- Clear and professional communication skills
- Ability to follow procedures and escalated issues appropriately
What makes you stand out:
- Experience in a premium finance, credit control, or insurance finance environment
- Basic understanding of insurance premium finance products and processes
- Experience working in a regulated environment
- AAT (or working towards) desirable but not essential
- Competent user of broking systems (e.g. Acturis) and Microsoft Excel
- Aware of FCA regulation relevant to premium finance
What we offer:
- A competitive salary - let's discuss it
- Hybrid working available upon successful completion of probation
- Employer pension contribution of 5% rising to 10% after 5 years membership of the pension scheme
- Annual Bonus scheme (Discretionary based on individual and company performance)
- Life Assurance cover up to 4 x salary, and Group Income Protection scheme up to 65% of salary
- 25 days annual leave plus bank holidays (rising to 26 and 27 for 5 and 10 years’ service respectively)
- Career development opportunities with funded support and financial incentives for all professional qualifications.
- An Employee Assistance Programme with a wide range of benefits helping employees to stay healthy and feel supported.
Support for applicants
If you need any additional support during the recruitment process, please let us know.
Insurance Finance Administrator in Newcastle upon Tyne employer: Benefact Group
Lycetts Insurance Brokers, part of the Benefact Group, is an exceptional employer located in Newcastle Upon Tyne, offering a supportive work culture that prioritises employee well-being and professional growth. With competitive salaries, hybrid working options, and a commitment to career development through funded qualifications, we ensure our team members thrive both personally and professionally. Join us to be part of a dedicated team that values accuracy, integrity, and exceptional service in the insurance finance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Finance Administrator in Newcastle upon Tyne
✨Tip Number 1
Network like a pro! Reach out to people in the insurance finance sector, especially those at Lycetts. A friendly chat can sometimes lead to opportunities that aren’t even advertised.
✨Tip Number 2
Prepare for the interview by brushing up on your knowledge of premium finance products and processes. Show us you’re not just a number-cruncher but someone who understands the industry!
✨Tip Number 3
Practice your communication skills. You’ll need to handle queries from various teams, so being clear and professional is key. Maybe do a mock interview with a mate to get comfortable.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take that extra step.
We think you need these skills to ace Insurance Finance Administrator in Newcastle upon Tyne
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Insurance Finance Administrator role. Highlight your experience with reconciliations, payments, and any relevant financial administration skills. We want to see how your background aligns with 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 skills can contribute to our team at Lycetts. Keep it professional but let your personality come through!
Showcase Your Attention to Detail:Since this role requires a high level of accuracy, make sure to demonstrate your attention to detail in your application. Double-check for typos and ensure all information is correct. We appreciate precision!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at Benefact Group
✨Know Your Numbers
As an Insurance Finance Administrator, you'll be dealing with a lot of numerical data. Brush up on your financial terminology and be prepared to discuss your experience with reconciliations and payments. This will show that you’re not just detail-oriented but also comfortable with the numbers that drive the business.
✨Familiarise Yourself with FCA Regulations
Understanding the Financial Conduct Authority (FCA) regulations is crucial for this role. Before your interview, take some time to read up on relevant FCA guidelines, especially those related to premium finance. This knowledge will demonstrate your commitment to compliance and your ability to navigate the regulatory landscape.
✨Prepare for Scenario Questions
Expect questions that ask how you would handle specific situations, like managing arrears or processing payments. Think of examples from your past experience where you successfully resolved issues or improved processes. This will help you showcase your problem-solving skills and attention to detail.
✨Showcase Your Communication Skills
Clear and professional communication is key in this role. Be ready to discuss how you've effectively communicated with colleagues and clients in the past. You might even want to prepare a few examples of how you’ve handled queries or escalated issues appropriately, as this will highlight your organisational skills and professionalism.
