IBA Accounts Executive
- Location: London
- Job Type: Full-time
We are seeking an IBA Accounts Executive to join our team. The role involves administering and servicing client and underwriter accounts in accordance with our Best Practice Manual and IBA procedures. This position requires a detail-oriented individual with a strong understanding of multi-currency accounting and basic technical insurance principles.
Day-to-day of the role:
- Prepare and issue general statements and ensure they are sent out at least every 4 weeks.
- Maintain ledgers by posting and accurately allocating cash receipts and payments against transactions as soon as possible.
- Raise and settle balances to clients, underwriters, and third parties, and monitor special payments by technical divisions.
- Reconcile cash with entries, query unallocated receipts when necessary, and escalate any problems to the IBA management team.
- Follow up on unpaid debtors, investigate aged transactions, and identify reasons for non-clearance.
- Ensure compliance with legal, market, regulatory, and Best Practice Manual requirements in all aspects of business acquisition, placing, claims, and servicing.
- Maintain confidentiality in systems and procedures and support the introduction of new processes in response to regulation changes.
- Produce ad hoc reports and travel if required, while upholding the good name and reputation of the organisation.
Required Skills & Qualifications:
- Experience with a Broker, Underwriter, or bureaux in a similar role.
- Proficient in multi-currency accounting and bureau accounting.
- Understanding of detailed IBA and bureau processes.
- Ability to analyse and interpret management information.
- Excellent verbal and written communication skills.
- High IT literacy, especially in Microsoft Office.
- Good Excel skills (Intermediate level is a must).
- Knowledge of internal CASS procedures (FCA Client monies handling), Best Practice Manual, and Money Laundering/Prevention of financial crime procedures.
- Experience with Open Twins is desirable.
- Strong attention to detail and time management/prioritisation skills.
Benefits:
- Competitive salary and benefits package.
- Opportunities for professional development and training.
- A supportive and collaborative work environment.
To apply for the IBA Accounts Executive position, please submit your CV and cover letter detailing your relevant experience and why you are interested in this role.