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- Tasks: Assist with managing Broker ledgers and outstanding Premium debts.
- Company: Join Liberty Specialty Markets, a leading global insurer focused on people and innovation.
- Benefits: Enjoy a vibrant, inclusive environment with career development and flexible work options.
- Why this job: Be part of a supportive culture that values diversity and collaboration while making an impact.
- Qualifications: Good communication skills, Excel proficiency, strong analytical abilities, and attention to detail required.
- Other info: This is an entry-level role perfect for high school and college students looking to kickstart their careers.
The predicted salary is between 28800 - 43200 £ per year.
Cash and Credit Control Assistant (entry level)
Join to apply for the Cash and Credit Control Assistant (entry level) role at Liberty Specialty Markets
Role Title: Cash and Credit Control Assistant
Department: Operations
Team: Business Support
Location: London
Type: Permanent
About the Role:
The Cash and Credit Control Assistant (Broker Accounting Relationship Assistant) will assist with the maintenance of our Broker ledgers to ensure collection and management of outstanding Premium debts are followed up. Working closely with the technical accounting teams to ensure premium unallocated cash is investigated and cleared. Investigating differences on Broker statements and liaising with the underwriting teams and Brokers to resolve the differences.
About the Department & Team:
The Cash & Credit Control department in London is a key operational department responsible for cash and credit control across all LMIE UK and Brexit branches, this involves:
- Collection, reconciliation, and allocation of cash across all UK and Brexit branches
- Credit Control across all UK and Brexit branches. This includes:
- Managing debt levels within appropriate service levels
- Establishing, maintaining, and leveraging both internal and external relationships in order to achieve the reduction in cash and debt.
Key Responsibilities:
- Reconciliation and distribution of Broker statements supporting the offshore processes with an allocated portfolio.
- Manage aged cash and debt escalation. Liaise with Brokers to ensure the timely settlement of all debts.
- Review and investigate overdue premium debtors and compile reporting for underwriting teams.
- Facilitate meetings with Syndicate and Company Underwriters to resolve queries and to investigate any potential bad debt.
- Investigation and reallocation of misallocated cash.
- Broker relationship management, to ensure payment performance and reduction of aged debt.
- Review closed years of account and re-allocate cash where required.
- Root cause analysis, collaborating with various stakeholders to ensure operational efficiency for assigned portfolio.
- Review with Underwriters the reporting of overdue premium for each class of business / aged debt bandings.
- Liaising with XIS on individual Signings/Broker queries on a transaction basis.
- Investigation and resolution of unallocated cash.
- Assist with the creation of metrics on a monthly basis.
- Review EPI variances and ensure amendments completed on system.
- Monitor data discrepancies identified by outsource partner and update the system accordingly.
- Contribute to the update of aged debt reporting and credit control policies, processes, and procedures as required following changes to business practice, systems, and reports.
- Liaise with outsource partner regarding the escalation of queries.
- Update key information in policies where required in collaboration with the Underwriting Assistant or Quality Control Technician.
- Monitor own performance against team SLA’s and KPI’s.
- Support various month closed procedures as directed.
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM\’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.
Skills and Experience:
- Good verbal and written communication skills
- Proficient in the use of MS Office in particular Excel.
- The ability to work to varying and demanding deadlines.
- Ability to work independently.
- Strong analytical skills required.
- Good organisational skills and time management (attention to detail is critical)
About Liberty Specialty Markets (LSM)
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why \”Put People First\” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
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Cash and Credit Control Assistant (entry level) employer: Liberty Specialty Markets Limited
Contact Detail:
Liberty Specialty Markets Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Cash and Credit Control Assistant (entry level)
✨Tip Number 1
Familiarize yourself with the basics of cash and credit control. Understanding key concepts like reconciliation, debt management, and broker relationships will give you a solid foundation for the role.
✨Tip Number 2
Brush up on your Excel skills! Since proficiency in MS Office, especially Excel, is crucial for this position, consider taking an online course or practicing with relevant financial data to enhance your abilities.
✨Tip Number 3
Network with professionals in the insurance and finance sectors. Engaging with industry peers can provide insights into the role and may even lead to valuable connections that could help you during the application process.
✨Tip Number 4
Prepare for potential interview questions by thinking about scenarios where you've demonstrated strong analytical skills or effective communication. Being able to share specific examples will showcase your fit for the role.
We think you need these skills to ace Cash and Credit Control Assistant (entry level)
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the Cash and Credit Control Assistant position. Make sure you understand the key responsibilities and required skills, as this will help you tailor your application.
Highlight Relevant Skills: In your CV and cover letter, emphasize your verbal and written communication skills, proficiency in MS Office (especially Excel), and any experience with cash management or credit control. Use specific examples to demonstrate your analytical and organizational abilities.
Craft a Strong Cover Letter: Write a personalized cover letter that explains why you are interested in the role and how your background aligns with the company's values. Mention your ability to work independently and meet deadlines, as these are important for this position.
Proofread Your Application: Before submitting your application, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your attention to detail, which is critical for the Cash and Credit Control Assistant role.
How to prepare for a job interview at Liberty Specialty Markets Limited
✨Understand the Role
Make sure you have a clear understanding of the Cash and Credit Control Assistant role. Familiarize yourself with key responsibilities such as managing broker ledgers, investigating cash discrepancies, and liaising with underwriting teams.
✨Showcase Your Analytical Skills
Prepare to discuss your analytical skills and how they relate to the tasks you'll be handling. Be ready to provide examples of how you've used these skills in past experiences, especially in resolving discrepancies or managing data.
✨Demonstrate Communication Abilities
Since the role involves liaising with brokers and internal teams, highlight your verbal and written communication skills. Practice articulating your thoughts clearly and concisely, as this will be crucial in your interactions.
✨Highlight Time Management Skills
The job requires working to varying deadlines, so be prepared to discuss how you prioritize tasks and manage your time effectively. Share specific examples of how you've successfully met deadlines in previous roles or projects.
