At a Glance
- Tasks: Review premium invoices, ensure compliance, and resolve policyholder inquiries.
- Company: Join a diverse and inclusive team at Ryan Specialty in London.
- Benefits: Competitive salary, career growth, and a supportive work environment.
- Other info: Opportunity for process improvement and automation in premium accounting.
- Why this job: Make a real impact in the insurance industry while enhancing your accounting skills.
- Qualifications: Bachelor’s degree in Finance or Accounting and 2 years of relevant experience.
The predicted salary is between 35000 - 45000 £ per year.
The Senior Premium Accounting Coordinator is responsible for reviewing premium invoices, ensuring compliance with policy terms and regulatory standards, and resolving policyholder inquiries to maintain customer satisfaction. The role manages premium payment processing, conducts reconciliations, and monitors collections to address overdue accounts efficiently. They coordinate policy administration tasks, maintain accurate records, and ensure adherence to insurance regulations.
What will your job entail?
- Reviews premium invoices for policyholders and ensures alignment with policy terms and coverage guidelines.
- Ensures precision in premium calculations, upholding adherence to accounting standards and regulatory requirements.
- Conducts regular reconciliations of premium receipts with bank deposits and accounting records to ensure accuracy and integrity.
- Generates comprehensive reports on premium collections, outstanding balances, and aging receivables for thorough management review.
- Manages and resolves inquiries from policyholders regarding premium invoices and billing discrepancies, ensuring high-quality customer service.
- Processes premium payments via multiple methods, including checks, electronic transfers, and credit card transactions, while meticulously reconciling payments with invoices.
- Monitors payment collections and proactively addresses overdue accounts, implementing necessary follow-up procedures as required.
- Maintains up-to-date and precise records of policyholder information, premiums, and payments within the company’s database or management system.
- Ensures strict adherence to insurance regulations, accounting standards, and internal policies and procedures governing premium accounting and billing practices.
- Identifies opportunities for process enhancement and optimization in premium accounting procedures, including automation and system improvements.
- Coordinates policy administration tasks such as data entry, policy issuance, policy updates and maintenance of accurate records.
- Remains informed about changes in regulatory requirements and industry best practices relevant to premium accounting and collections.
Work Experience and Education
- Bachelor’s degree required; Finance, Accounting and Business Administration preferred. Any other related discipline or commensurate work experience considered.
- Minimum of 2 years of experience in premium accounting or accounting in Insurance Industry is preferred.
Licenses & Certifications
- Certified Public Accountant (CPA) a plus.
Accounts Payable Associate employer: Dormont Manufacturing Co
Ryan Specialty is an exceptional employer located in the heart of London, offering a dynamic work environment that fosters professional growth and inclusivity. With a strong commitment to employee development, we provide comprehensive training and opportunities for advancement within the insurance industry, all while maintaining a culture that values diversity and collaboration. Our focus on high-quality customer service and adherence to regulatory standards ensures that our employees are part of a respected and impactful organisation.
StudySmarter Expert Advice🤫
We think this is how you could land Accounts Payable Associate
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Dormont Manufacturing Co. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Accounts Payable Associate
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Dormont Manufacturing Co.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Dormont Manufacturing Co's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Dormont Manufacturing Co
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Dormont Manufacturing Co.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Dormont Manufacturing Co will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Dormont Manufacturing Co employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
