At a Glance
- Tasks: Review invoices, process payments, and resolve policyholder inquiries to ensure customer satisfaction.
- Company: Join a diverse and inclusive team at Ryan Specialty in London.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Opportunities for career growth and process improvement in 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.
Position Summary: 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
What will your job entail?
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 Insurance Industry is preferred.
Licenses & Certifications:
- Certified Public Accountant (CPA) a plus.
Accounts Payable Associate in London employer: Ryan Specialty
At Ryan Specialty, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London. Our commitment to employee growth is reflected in our comprehensive training programmes and opportunities for advancement within the insurance industry. With a strong focus on diversity and inclusion, we foster a collaborative culture where every team member's contributions are valued, ensuring a rewarding and meaningful career for all.
StudySmarter Expert Advice🤫
We think this is how you could land Accounts Payable Associate in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and accounting sectors. You never know who might have a lead on an Accounts Payable Associate role or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of premium accounting and insurance regulations. We recommend practising common interview questions and having examples ready that showcase your experience in managing invoices and resolving discrepancies.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for openings that suit your skills, especially in premium accounting, and make sure to tailor your approach to each company.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way in showing your enthusiasm for the role. It’s a great chance to reiterate why you’re the perfect fit for the Accounts Payable Associate position.
We think you need these skills to ace Accounts Payable Associate in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Accounts Payable Associate role. Highlight your experience in premium accounting and any relevant skills that match the job description. We want to see how you fit into our team!
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 background aligns with our needs. Keep it concise but engaging – we love a good story!
Showcase Your Attention to Detail:Since the role involves reviewing invoices and ensuring compliance, make sure to demonstrate your attention to detail in your application. A well-formatted CV and error-free writing will show us you mean business!
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’s super easy – just a few clicks and you’re done!
How to prepare for a job interview at Ryan Specialty
✨Know Your Numbers
As an Accounts Payable Associate, you'll be dealing with invoices and premium calculations. Brush up on your accounting principles and be ready to discuss how you ensure accuracy in financial records. Prepare examples of how you've handled discrepancies in the past.
✨Customer Service is Key
This role involves resolving policyholder inquiries, so highlight your customer service skills. Think of specific instances where you've successfully managed customer complaints or queries, demonstrating your ability to maintain high satisfaction levels.
✨Stay Updated on Regulations
Insurance regulations can change frequently. Show that you're proactive by researching recent changes in the industry. Be prepared to discuss how you keep yourself informed and how this knowledge can benefit the company.
✨Process Improvement Mindset
The job mentions identifying opportunities for process enhancement. Come prepared with ideas on how you’ve improved processes in previous roles. This shows initiative and a willingness to contribute to the company's efficiency.
