Delegated Authority Technical Accountant

About us

Avencia are partnered with a global insurer and member of the Talanx Group who are looking to hire a Delegated Authorities Technical Accountant in their London office.

The role

To carry out all aspects of insurance technical accounting for delegated authority business.

Key accountabilities

• Participation in the quarterly closing process
• Collaborating on cross-departmental projects
• Communicate with brokers to facilitate the timely collection of debt
• To accurately process all cash amounts to the appropriate ledger ( via Xchanging & direct ), having agreed the items with the relevant third party. This includes brokers , co-insurers , reinsurers and other third parties, such as loss adjusters
• To correctly allocate all cash against the respective debt entries on the ledgers and to be able to reconcile any balance due to/from the third party to the third-party statements .
• Develop knowledge to promptly and proactively investigate settlement or accounts queries on the ledgers, liaising with the underwriters , operations technicians and claims teams as appropriate to resolve the queries.
• To proactively participate in initiatives designed to improve the effectiveness or efficiency of the credit control department .
• To undertake any other tasks as requested by the Financial Controller in order that the team achieve its objectives.
• Responsible for managing claims loss funds , including initial loss fund payment and monitoring usage . Review all TPA loss fund change requests and provide supporting accounting information where required.
• To perform monthly reconciliations of premium and claims bordereaux .
• To process payments and cash settlements for claims fund top-ups , invoices , emergency top ups , cash calls
• Perform technical bookings for premium and claims including funds , cash calls , invoices , and reserves .

Skills & experience

• Strong knowledge of Delegated Authority insurance and the terminologies used, across all lines of business .
• Good interpersonal skills - comfortable with phone & face to face discussions with customers, underwriters, brokers & other internal technical staff.
• Strong numerical understanding and analytical thinking skills
• High flexibility and teamwork ability, along with a responsible, conscientious, and independent working style
• Proficient in using the MS Office Suite , especially Excel
• Curious and confident with problem solving
• Experience of working with credit control teams & understanding their requirements
• Able to organise own workload effectively to meet service standards.
• Deadline focused ; able to work under pressure to meet tight deadlines
• A good working knowledge and experience of working with Xchanging and London market / subscription market