Position Title: Credit Control Associate
Reports To: Credit Control Senior Manager & Assistant Manager
We are seeking a detail-oriented and proactive Credit Control Associate to join our Clients team. The successful candidate will manage the Assumed Payments Function, perform credit control duties on allocated Outwards Reinsurance accounts, and support various Credit Control team projects.
This role requires a strong understanding of credit control procedures, excellent communication skills, and the ability to build robust relationships with brokers and other stakeholders.
Key Responsibilities and Competencies
- Credit Control Duties on Allocated Outwards Reinsurance Accounts
- Collect outstanding balances from brokers & reinsurers in line with company objectives.
- Serve as the primary contact for the Reinsurance Team regarding Reinsurance Collections.
- Collaborate with Reinsurance Technicians and the legal department to address queries and resolve disputes.
- Build and maintain strong relationships with brokers through regular updates and meetings.
- Reconcile and validate debt ledger before and after migration of new portfolios.
- Adhere to Standard Operating Procedures (SOPs) and report on collection progress and broker action points.
- Assumed Payments Function
- Reconcile payment schedules, broker statements, and company accounts promptly.
- Report regularly on assumed payment backlogs and any critical issues or complaints.
- Follow the Assumed Payment Procedures within SOPs.
- Complete and report on assigned projects.
- Perform monthly drawn LOC reconciliations and prepare monthly Claims Processing Lists.
- Review assumed transactions for payment & collection and handle claims recovery payments within the Credit Control system.
- Support Credit Control Team Projects
- Assist with Credit Control & Reinsurance team projects and departmental goals.
- Fulfill ad-hoc requests as required.
- Compliance and Risk Awareness
- Maintain awareness of Treating Customers Fairly (TCF) and Conduct Risk strategies.
- Ensure compliance with Data Protection legislation, including the Data Protection Act and General Data Protection Regulations.
- General Duties
- Undertake other duties as assigned on a temporary or permanent basis.
Experience:
- Approximately 5 years of credit control experience.
Essential Knowledge:
- Operation of international insurance markets, especially in run-off.
- Sanctions impacting the payment process.
- Major market claims.
- Market procedures for the settlement of reinsurance balances.
- Credit control procedures.
- Working knowledge of main company systems.
Skills:
- Strong planning and implementation abilities.
- Excellent communication and interpersonal skills.
- Analytical and diligent with attention to detail.
- Accurate and team-oriented.
- Proficient in complex account reconciliations.
- Ability to report effectively and work cooperatively with internal and external stakeholders.
- Conduct Rules and Standards
Regulatory Conduct Rules:
- Act with integrity.
- Act with due care, skill, and diligence.
- Be open and cooperative with the FCA, PRA, and other regulators.
- Treat customers fairly.
- Observe proper standards of market conduct where applicable.
- Deliver good outcomes for retail customers where the firm's activities fall within the scope of the Duty.
Company Conduct Standards:
- Adhere to the company's Code of Conduct.
Internal:
- All departments, particularly Reinsurance, Claims, Legal, and Finance.
External:
- Third-party service agents, legal representatives, liquidators or insolvent companies, brokers, and cedant companies.
If you have a proven track record in credit control, excellent analytical and interpersonal skills, and are looking to advance your career in a dynamic and supportive environment, we would love to hear from you. Apply today to join our clients team and contribute to our continued success.