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- Tasks: Support the finance team with accounting and administration tasks.
- Company: Join a leading insurance recruitment agency in Colchester.
- Benefits: Enjoy a comprehensive salary and benefits package.
- Why this job: Gain valuable experience in finance while working in a supportive environment.
- Qualifications: No specific qualifications required; just a willingness to learn!
- Other info: Permanent position with opportunities for growth.
The predicted salary is between 28800 - 43200 £ per year.
Provide accounting & administration support within our Client accounting team.
- Reconciling and settling accounts
- Pay insurer accounts on a monthly basis; involves checking that client has paid, that insurer is quoting the correct premium and commission, that the account is paid according to our terms of payment with each insurer, and in compliance with FCA regulations.
- Check each insurer account at the beginning of each month for long outstanding credits or debits and bring to the attention of the relevant account handler.
- Organise payment for each insurer online by BACS.
- Cash accounting work - Posting of client payments; cash, credit cards, internet and BACs payments.
- Raise queries and maintain logs for unallocated cash receipts.
- Issue premium refunds to clients.
- Reconciliation of IBA bank account
- Perform due diligence on insurer/client/third party payments.
- Monitor client receipts including cheque logs to confirm timeliness of banking.
- Prepare list of 3rd party payments made.
- Production of earned income payments as per the allocated schedule.
- Run system month ends and ad hoc system reports.
Comprehensive salary and benefits package.
Please submit your CV for the Hiring Manager's attention or contact Su Partridge FIRP for further information.
Insurance Finance Assistant employer: The Recruiter Ltd
Contact Detail:
The Recruiter Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Insurance Finance Assistant
✨Tip Number 1
Familiarise yourself with the insurance finance sector, especially the key regulations set by the FCA. Understanding these regulations will not only help you in interviews but also demonstrate your commitment to compliance and professionalism.
✨Tip Number 2
Brush up on your accounting software skills, particularly with systems commonly used in the insurance industry. Being proficient in these tools can give you an edge during practical assessments or discussions in the interview process.
✨Tip Number 3
Network with professionals in the insurance finance field. Attend relevant events or join online forums to connect with others who can provide insights or even refer you to opportunities within their organisations.
✨Tip Number 4
Prepare for potential interview questions by practising how you would handle specific scenarios related to account reconciliation and cash management. This will help you articulate your problem-solving skills effectively during the interview.
We think you need these skills to ace Insurance Finance Assistant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in accounting and finance, particularly any roles that involved reconciliation, cash accounting, or client payment processing. Use specific examples to demonstrate your skills.
Craft a Strong Cover Letter: Write a cover letter that addresses the key responsibilities of the Insurance Finance Assistant role. Mention your understanding of FCA regulations and your ability to manage insurer accounts effectively.
Highlight Relevant Skills: In your application, emphasise skills such as attention to detail, organisation, and communication. These are crucial for managing accounts and liaising with clients and insurers.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your professionalism and attention to detail.
How to prepare for a job interview at The Recruiter Ltd
✨Know Your Numbers
As an Insurance Finance Assistant, you'll be dealing with a lot of financial data. Brush up on your accounting principles and be prepared to discuss how you would handle specific financial scenarios or reconciliations during the interview.
✨Understand FCA Regulations
Familiarise yourself with the Financial Conduct Authority (FCA) regulations relevant to insurance finance. Being able to demonstrate your knowledge of compliance will show that you're serious about the role and understand the importance of regulatory frameworks.
✨Prepare for Practical Questions
Expect practical questions related to cash accounting and payment processing. Be ready to explain your approach to reconciling accounts and managing unallocated cash receipts, as these are key responsibilities in the role.
✨Show Your Organisational Skills
Highlight your ability to manage multiple tasks, such as monitoring client receipts and preparing third-party payments. Provide examples from your past experience where you successfully organised and prioritised your workload to meet deadlines.
