At a Glance
- Tasks: Lead insurance accounts and contracts, ensuring data integrity and strategic oversight.
- Company: Join a global reinsurer with a focus on innovation and collaboration.
- Benefits: Enjoy private medical insurance, generous holidays, and a strong pension scheme.
- Other info: Hybrid working model with opportunities for professional growth and development.
- Why this job: Make a real impact in the insurance industry while developing your career.
- Qualifications: In-depth insurance knowledge and experience in technical accounting required.
The predicted salary is between 60000 - 60000 £ per year.
Wise May are looking for a proactive, detail orientated Insurance Technical Accountant to join a Global Reinsurer. Within this role you will lead and oversee the administration of insurance accounts and contracts, engaging with internal operations teams and their outsourced underwriting and operations provider to deliver strategic oversight of data integrity across assigned Lines of Business. This is a full time, permanent position with hybrid working (3 days in the office / 2 remote) and the working hours are 9am-5pm.
Insurance Technical Accountant duties and responsibilities include:
- Lead and oversee the administration of insurance and reinsurance contracts for different lines of business.
- Responsible for the validation of facultative entries and risks in accounting and underwriting systems, maintaining high standards of data governance.
- Provide strategic oversight of data integrity across assigned Lines of Business whether managed internally or through outsourced partners.
- Oversee the correct input and audit of Terms & Conditions in the accounting system, implementing robust quality assurance protocols.
- Ensure completeness and accuracy in the recording of account and claims advices, driving accountability across teams.
- Serve as a senior liaison between Underwriting, Claims, brokers, cedents, and outsourced teams to resolve complex discrepancies and ensure alignment across stakeholders.
- Identify, document, and elevate issues related to outsourced deliverables, ensuring timely resolution and continuous improvement.
- Govern outsourced initiatives, ensuring adherence to contractual obligations, quality benchmarks, and delivery timelines.
- Analyse and interpret internal reports to monitor client accounts and performance metrics, providing actionable insights and strategic recommendations to senior stakeholders.
- Champion knowledge sharing and collaboration across internal teams and external partners, fostering a culture of transparency and continuous learning.
- Communicate effectively and constructively with staff and leadership, influencing outcomes and driving engagement.
- Lead the organisation and prioritisation of workload within the outsourced team, maintaining SLA compliance and proactively managing performance.
- Execute Internal Control System (ICS) checks in line with applicable guidelines and actively assist Underwriters in fulfilling these control requirements.
- Supervise the accuracy and complete documentation for underwriting, accounting, and claims within the Document Management System (DMS).
- Conduct payment sanctions and embargo screenings by reviewing relevant lists and escalating to Underwriting or Legal teams for further assessment when necessary.
- Serve as a key point of accountability for both internal and external audits, including those conducted by third parties and local regulatory bodies.
- Oversee cashflow activities, including the setup of client bank accounts within the accounting system.
- Ensure that Processing of incoming and outgoing payments is accurate and executed in a timely manner.
- Track and follow up on outstanding payments and unresolved balances related to the outsourced portfolio and designated contracts.
Insurance Technical Accountant skills and experience required:
- In-depth insurance and reinsurance expertise.
- Extensive knowledge of technical accounting, settlement processes, cash management, credit control and business reporting within the London Market.
- Demonstrable experience working in insurance operations, supporting underwriting teams.
- Previous experience working with outsourced service providers is highly beneficial.
- Proficient at building and maintaining trusted relationships across different business teams.
- Passionate about driving innovation and operational excellence.
- Proactive nature, with strong attention to detail.
Benefits:
- Private Medical Insurance
- Dental Insurance
- Critical Illness Insurance
- Pension - 5% Individual Contribution / 10% Employer contribution, which can be increased to 25% (maximum combined contribution)
- Death In Service
- Income Protection
- Holidays - 25 days which increase with service as well as having additional days off for special events and volunteering.
- Holiday Purchase Scheme - can buy and sell up to 5 days.
Insurance Technical Accountant - London Market - City - To £60,000 employer: Wisemay
Wise May is an exceptional employer, offering a dynamic work environment in the heart of London, where you can thrive as an Insurance Technical Accountant. With a strong focus on employee well-being, we provide comprehensive benefits including private medical and dental insurance, a generous pension scheme, and ample holiday allowances that increase with service. Our hybrid working model promotes a healthy work-life balance, while our commitment to professional development ensures that you have the opportunity to grow and excel in your career within a supportive and collaborative culture.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Technical Accountant - London Market - City - To £60,000
✨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 Wisemay). 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 Wisemay. 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 Insurance Technical Accountant - London Market - City - To £60,000
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 Wisemay.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Wisemay. 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 Wisemay
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Wisemay 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 Wisemay, 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 Wisemay'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.
