At a Glance
- Tasks: Manage credit control, resolve queries, and analyse overdue accounts.
- Company: Join Sompo, a global leader in insurance with a collaborative culture.
- Benefits: Competitive salary, health benefits, tuition reimbursement, and professional development.
- Other info: Dynamic workplace with opportunities for growth and a commitment to diversity.
- Why this job: Make a real impact in finance while developing your career in a supportive environment.
- Qualifications: Experience in credit control within the insurance sector and strong Excel skills.
The predicted salary is between 30000 - 40000 £ per year.
Are you looking for your next opportunity? Sompo has a unique opportunity for a Credit Controller in our Finance Operations team in our company market. This position is offered as a 12-month Fixed Term Contract (FTC). The Credit Control team is a key component of our International Insurance Division and works closely with Lloyds, brokers, cedants, externally as well as the finance, underwriting, underwriting operations, Information Technology and claims teams internally. Driven for a collaborative resolution to cash and credit control challenges to maintain superior customer service and profitability for the organisation.
Location: This position will be based out of our London office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long lasting careers.
What you’ll be doing:
- Pro-active credit control
- Ensure overdue/late accounts are followed up and escalated to management.
- Follow up on action points/escalations from review meetings and update Line manager.
- Analyse and review trends and provide recommendation to reduce the overdue debt in consultation with Line manager.
- Allocate signings to receivables.
- Handle and follow up on any queries from the collections operation including cash allocation.
- Allocate IPT/Taxes and follow up queries with Tax Department.
- File documentation, activity as required.
- Timely investigation and resolution of challenging accounts/cedants is expected.
- Collaborate with Finance department, underwriting department, claims department brokers and clients to resolve any queries or technical issues.
- Ad hoc duties as directed by Line Manager.
What you’ll bring:
- Experience in a similar role within the Lloyds Insurance/reinsurance market is essential.
- Experience of credit control in the Insurance sector.
- Experience of Aged Debt Reporting and analysis is essential.
- Strong Excel skills at Proficient Level (including macros) are essential for this role.
- Strong grasp of business processes and systems.
- Ability to work on own initiative.
- Ability and confidence to challenge existing procedures and use of system.
- Strong technical skills including credit control skills.
- Good understanding of Bureau systems and procedures.
- Knowledge of London Insurance and Reinsurance products would be an advantage.
- Awareness of Sox Controls is desirable but not essential.
- Associate or member of the Chartered Institute of credit management is desirable but not essential.
At Sompo, we recognise that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance. We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.
Below is a summary of some of the benefits we offer, which may vary depending on the country:
- Health & Wellness Benefits
- Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
- Employee Assistance Program
- Tuition Reimbursement & Professional Qualification benefits
Who we are and what we stand for:
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work.
If you need an accommodation for any part of the application process, please contact the recruiter in charge.
Credit Controller - 12 Month FTC employer: Sompo
Sompo is an excellent employer that prioritises employee growth and collaboration within its London office. With a strong focus on fostering a supportive work culture, we offer competitive compensation, comprehensive health and wellness benefits, and opportunities for professional development, ensuring that our employees can thrive and build meaningful careers in the dynamic insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Credit Controller - 12 Month FTC
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance and finance sectors. A friendly chat can lead to insider info about job openings or even a referral, which can give you a leg up in the application process.
✨Tip Number 2
Prepare for interviews by researching Sompo and its values. Understand their approach to credit control and customer service. This will help you tailor your responses and show that you're genuinely interested in being part of their team.
✨Tip Number 3
Practice your Excel skills! Since strong Excel proficiency is essential for this role, brush up on your macros and data analysis techniques. You might even want to prepare a few examples of how you've used these skills in past roles.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re serious about joining Sompo and ready to contribute to their collaborative environment.
We think you need these skills to ace Credit Controller - 12 Month FTC
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Credit Controller role. Highlight your experience in credit control, especially within the Lloyds Insurance market, and showcase your strong Excel skills. 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 skills can contribute to our Finance Operations team. Be sure to mention any relevant experience with Aged Debt Reporting and analysis.
Showcase Your Collaborative Spirit:Since collaboration is key at Sompo, make sure to highlight any experiences where you've worked closely with teams or resolved issues collaboratively. We love seeing candidates who can work well with others, especially across departments like finance and underwriting.
Apply Through Our Website:Don't forget to apply 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 serious about joining our team at Sompo!
How to prepare for a job interview at Sompo
✨Know Your Numbers
As a Credit Controller, you'll be dealing with figures all day long. Brush up on your Aged Debt Reporting and analysis skills before the interview. Be ready to discuss how you've successfully managed overdue accounts in the past and any trends you've noticed in your previous roles.
✨Excel Like a Pro
Strong Excel skills are essential for this role, so make sure you're comfortable with advanced functions and macros. Consider preparing a quick example of how you've used Excel to solve a problem or streamline a process in your previous jobs. This will show your technical prowess and initiative.
✨Collaboration is Key
Since the role involves working closely with various departments, think of examples where you've successfully collaborated with others to resolve issues. Highlight your communication skills and how you can bring teams together to tackle credit control challenges effectively.
✨Understand the Industry
Familiarise yourself with the Lloyds Insurance and reinsurance market. Research common challenges faced in credit control within this sector and be prepared to discuss how you would approach these issues. Showing that you understand the industry will set you apart from other candidates.
