At a Glance
- Tasks: Join our IBA team to manage client accounts and ensure timely cash reconciliation.
- Company: Lockton, the world's largest independent insurance brokerage with a caring culture.
- Benefits: Hybrid work, supportive environment, and opportunities for personal growth.
- Other info: Dynamic role with a focus on teamwork and professional development.
- Why this job: Make a real impact in finance while building strong relationships with clients and colleagues.
- Qualifications: Experience in insurance, strong numerical skills, and excellent communication abilities.
The predicted salary is between 36000 - 44000 £ per year.
An exciting opportunity has arisen for an analytical individual to join our Insurance Broker Accounts (IBA) team in London who work closely with Lockton’s clients and insurance underwriters to carry out the reconciliation and management of client money. This is an excellent role for someone with an interest in finance and a keen eye for detail to join a dynamic and growing business. The successful candidate will demonstrate a high degree of accuracy and initiative and will be an excellent communicator who builds positive and successful relationships with stakeholders.
Key responsibilities include:
- Credit control of an assigned set of client accounts
- Review, diary management and escalation of queries/ differences to the business to ensure timely resolution and ensure cash received is matched in a timely manner
- Acting as liaison for our clients with internal divisional stakeholders
- Reconciliation of accounts
- Managing query escalation to Lockton's broking divisions and within IBA, ensuring compliance with internal procedures and external regulatory requirements
- Complying with internal procedures and external regulatory requirements
Candidate Profile
You should have:
- Previous experience of working within the insurance industry with a good understanding of cash collection/payment processes applicable to insurance in particular FSA client money rules.
- A working knowledge of Microsoft Office suite and ideally experience of Brokasure although this is not essential.
- Experience of working within the Transportation sector
- Good numerical ability and an analytical mindset
- Adaptable and change orientated
- Adopts right first-time approach
- Works well as part of a team in support of other team colleagues
- Ability to communicate effectively and professionally both verbally and in writing to maintain positive and successful business relationships with Lockton colleagues, our clients, insurers and other third-party providers representing Lockton in the highest professional manner.
- Ability to compile, analyse and interpret financial information and data to facilitate decision making, with excellent attention to detail.
- Good organisational skills, ability to manage time, prioritise and ensure that deadlines are met without compromising quality.
Lockton is the world's largest privately held independent insurance brokerage. Since 1966, our private ownership has allowed us to serve our clients, nurture our people, and give back to our communities in ways other companies simply can't. We're passionate about helping you achieve your ultimate potential. If you believe in providing excellent client service, supporting community initiatives, and being part of our caring culture, then you belong here.
IBA Associate - London employer: Lockton
At Lockton, we pride ourselves on being an excellent employer that fosters a collaborative and innovative work culture. As a Business Analyst/Product Analyst, you will have the chance to work on cutting-edge projects within the insurance industry, supported by a team that values continuous learning and professional growth. Our commitment to employee development, coupled with a dynamic environment in which your contributions directly impact our clients and business, makes Lockton a truly rewarding place to advance your career.
StudySmarter Expert Advice🤫
We think this is how you could land IBA Associate - London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Lockton). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Lockton. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace IBA Associate - London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Lockton.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Lockton. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Lockton
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Lockton to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Lockton, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Lockton's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
