Delegated Authority Technical Accountant

Avencia Consulting Services; London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading consulting company is looking to hire a Delegated Authorities Technical Accountant for their London office. This role involves comprehensive insurance technical accounting for delegated authority business, including managing claims funds, processing cash amounts, and participating in cross-departmental projects. The ideal candidate will have strong knowledge in Delegated Authority insurance and excellent analytical skills, providing key insights and support to the finance team, ensuring effective operations and timely reporting.

Qualifications

• Strong knowledge of Delegated Authority insurance and terminologies.
• Experience of working with credit control teams.
• Good interpersonal skills, comfortable with discussions.

Responsibilities

• Manage claims loss funds and reconcile claims bordereaux monthly.
• Participate in quarterly closing processes.
• Collaborate on projects with cross-departmental teams.

Skills

Delegated Authority insurance

Analytical thinking

Interpersonal skills

Numerical understanding

Problem solving

Flexibility

Teamwork

Tools

MS Office Suite

Excel

Xchanging

Job description

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