Process Analyst

Employing Entity: Mrald (Mphasis s dedicated UK Insurance operational services delivery vehicle)

Job Summary -

End to end back office service for Insurance Broking Accounts ( IBA)

Perform credit control

Perform cash and payment reconciliation and system allocation

Perform client and insurer statement reconciliation

Premium and return premium collections - including providing reminders to Broker, Account Executive, Insured, and Insurers

Follow up and query management for unmatched cash, uncollected debt, queries preventing settlement to Brokers, Insureds, Insurers and third parties etc.

Make payments to Clients, Brokers, Insured s, Insurers and third parties including approving payment per the agreed approval process (Bureaux and Non-Bureaux)

Collect funded balances

PPW and PPC payment ownership

Ensure adherence to FCA client money rules

Other tasks as required by the Team lead or Senior Technician

Years of experience needed -

1-2 years of experience in insurance, accounting, or another financial services sector

Technical / Non-Technical Skills:

Relationships:

Team Members:

Regular interaction with Trainee Technicians to review and provide guidance on deliverables

Mentor Trainee Technicians

Others:

Within the company:

Collaborate with stakeholders to identify improvement opportunities and manage expectations

Participate and proactively contribute to new project related initiatives

Outside the company:

NA

Person Specifications:

Education:Graduate/ Post Graduate

Work Qualifications:Insurance or accounting industry qualification is a plus

Experience:

Essential:

Experience in one of these areas: credit control and cash allocation, accounts payable, account reconciliation

Understanding of insurance process

Added advantage but no compulsion:

IBA experience

Certifications Needed:NA