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