At a Glance
- Tasks: Review invoices, manage payments, and ensure compliance with insurance regulations.
- 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 to optimise processes and contribute to a dynamic workplace.
- Why this job: Make a real impact in the insurance industry while enhancing your accounting skills.
- Qualifications: Bachelor’s degree in Finance or Accounting preferred; 2 years of relevant experience.
The predicted salary is between 30000 - 40000 £ 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.
Location: London, UK – Fenchurch
Job Responsibilities:
- 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 the insurance industry is preferred.
- Certified Public Accountant (CPA) a plus.
Equal Opportunity Employer:
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions.
Accounts Payable Associate employer: Ryan Specialty Holdings International Limited
Ryan Specialty is an exceptional employer located in the heart of London, offering a dynamic work culture that prioritises diversity and inclusion. Employees benefit from comprehensive training and development opportunities, ensuring continuous professional growth while working in a collaborative environment that values each individual's contributions. With a commitment to excellence in customer service and adherence to regulatory standards, Ryan Specialty fosters a rewarding atmosphere for those seeking meaningful careers in premium accounting.
Contact Details:
Ryan Specialty Holdings International Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Accounts Payable Associate
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and the role. Understand their values and how you can contribute. Practise common interview questions and have your own ready to show your interest.
✨Tip Number 3
Follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. It shows your enthusiasm and professionalism, which employers love.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of opportunities waiting for you, and applying directly can sometimes give you an edge over other candidates.
We think you need these skills to ace Accounts Payable Associate
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Accounts Payable Associate role. Highlight relevant experience in premium accounting and any specific skills that match the job description. 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 experience makes you a great fit. We love seeing enthusiasm and a personal touch, so don’t hold back!
Showcase Your Attention to Detail:Since the role involves reviewing invoices and ensuring compliance, it's crucial to demonstrate your attention to detail. Include examples of how you've successfully managed similar tasks in the past. We appreciate candidates who can keep things accurate and organised!
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 shows you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Ryan Specialty Holdings International Limited
✨Know Your Numbers
Brush up on your accounting knowledge, especially around premium calculations and reconciliations. Be ready to discuss how you ensure accuracy in financial records and compliance with regulations, as this will show your understanding of the role.
✨Customer Service is Key
Prepare examples of how you've handled policyholder inquiries or billing discrepancies in the past. Highlight your approach to maintaining high-quality customer service, as this is crucial for the position.
✨Showcase Your Process Improvement Skills
Think about times when you've identified opportunities for process enhancements in your previous roles. Be ready to share specific examples of how you’ve implemented changes that improved efficiency or accuracy in accounting practices.
✨Stay Updated on Regulations
Familiarise yourself with current insurance regulations and industry best practices. Being able to discuss recent changes and how they impact premium accounting will demonstrate your commitment to staying informed and compliant.
