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For Companies At a Glance
- Tasks: Lead UK Insurance Broker accounting operations and enhance broker processing.
- Company: Join a major player in the London Market, driving innovation in insurance accounting.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Why this job: Be part of a pioneering role with a chance to shape future client models.
- Qualifications: Experience in IBA and strong knowledge of UK market regulations required.
- Other info: Collaborate with a diverse team across global offices and engage in technology transitions.
The predicted salary is between 60000 - 65000 £ per year.
A newly created role to own UK Insurance Broker accounting operations for a large client in the London Market. This is a strategically important hire, the first of its kind for this client with the aim to grow broker processing. The selected candidate will help productise this model for other potential clients.
Essential Experience
- Candidates must have prior experience working in IBA (Insurance Broker Accounting).
- 75% of the client’s business is UK-based; the rest spans the US, Bermuda, Europe, and Australia.
- Strong exposure to UK market regulations (e.g., FCA guidelines, Lloyd’s involvement).
- Understanding of bureau and non-bureau processes, including:
- LPAN submissions
- Work package handling
- Premium accounting & fund collection
- Settlements via Xchanging / CAS (Central Accounting System)
Desirable Experience
- Previous involvement in work transitions (client onboarding/offshoring/vendor transitions)
Key Responsibilities
- Act as a liaison between the client and the delivery teams.
- Collaborate with multiple departments (e.g., risk processing, underwriting support).
- Work closely with the client’s IBA and accounting managers.
- Be willing to visit client offices in the UK as needed, though the role is not based full-time at the client site.
- Provide subject matter expertise to support team understanding and drive execution.
- Assist with technology transitions (e.g., new platform implementation) – UAT/ desirable but not mandatory.
Team Structure
The overall engagement involves 90–200 team members offshore. The IBA-specific team will be around 35–36 members, based in various offices across India.
Compensation & Benefits
Proposed range: £60,000–£65,000 GBP. Flexibility possible if justified by candidate quality.
Contact Detail:
Highams Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land IBA Manager, Insurance Broker Accounting
✨Tip Number 1
Make sure you network with professionals in the insurance and accounting sectors, especially those who have experience in IBA. Attend industry events or webinars to connect with potential colleagues and learn more about the latest trends in UK market regulations.
✨Tip Number 2
Familiarise yourself with the specific processes mentioned in the job description, such as LPAN submissions and settlements via Xchanging/CAS. Having a solid understanding of these will not only boost your confidence but also demonstrate your commitment to the role.
✨Tip Number 3
Consider reaching out to current or former employees of the client company to gain insights into their culture and expectations. This can help you tailor your approach during interviews and show that you are genuinely interested in the position.
✨Tip Number 4
Prepare to discuss your previous experiences with work transitions and how they relate to the responsibilities of this role. Highlight any successful projects you've been involved in, as this will showcase your ability to manage change effectively.
We think you need these skills to ace IBA Manager, Insurance Broker Accounting
Some tips for your application 🫡
Highlight Relevant Experience: Make sure to emphasise your prior experience in Insurance Broker Accounting (IBA). Detail specific roles and responsibilities that align with the job description, particularly those related to UK market regulations and bureau processes.
Showcase Your Knowledge of Regulations: Demonstrate your understanding of UK market regulations, such as FCA guidelines and Lloyd’s involvement. This can be done by including examples of how you've navigated these regulations in previous roles.
Detail Collaborative Skills: Since the role involves liaising with various departments, highlight your collaborative skills. Provide examples of past experiences where you worked closely with teams or clients to achieve common goals.
Express Willingness to Travel: Mention your flexibility and willingness to visit client offices in the UK as needed. This shows your commitment to the role and readiness to engage directly with clients.
How to prepare for a job interview at Highams Recruitment
✨Showcase Your IBA Expertise
Make sure to highlight your prior experience in Insurance Broker Accounting. Be prepared to discuss specific examples of how you've navigated UK market regulations and handled bureau and non-bureau processes.
✨Demonstrate Your Collaborative Skills
Since the role involves liaising with various departments, emphasise your ability to work collaboratively. Share instances where you successfully collaborated with teams or clients to achieve common goals.
✨Prepare for Technical Discussions
Brush up on your knowledge of technology transitions and platform implementations. Even if UAT experience isn't mandatory, showing familiarity with these processes can set you apart from other candidates.
✨Express Willingness to Travel
As the role may require visits to client offices in the UK, express your flexibility and willingness to travel. This shows your commitment to building strong client relationships and understanding their needs.
