IBA Accounts Assistant

TN United Kingdom; London; Hybrid; GBP 30,000 - 55,000; Full time

Job summary

An established Lloyd's broker in London is seeking a finance professional to join their expanding team. This role involves preparing bank reconciliations, monitoring cash flow, and processing payments in multiple currencies. You will work closely with the Finance Director and a dedicated team, contributing to the efficiency of the finance function. With hybrid working options and opportunities for progression, this is an exciting chance to further your career in a dynamic environment. If you have a background in insurance and strong IT skills, this position could be the perfect fit for you.

Benefits

Hybrid working (2 days per week from home)

Scope for progression

Qualifications

• Experience in the insurance sector is essential for this role.
• Proficiency in IBA processes is preferred but not mandatory.

Responsibilities

• Prepare bank reconciliations for multiple currencies.
• Monitor cash flow and record insurance payments.
• Assist with credit control and client money calculations.

Skills

Insurance experience

IBA experience

Strong IT skills

Tools

Excel

Job description

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Your newpany

I have partnered with an established Lloyd's broker that places both UK and international business (insurance and reinsurance) based in the heart of London. You will be working in their modern offices, which are located a stone's throw away from the renowned Lloyd's building. They are expanding their finance team due to growth over the past couple of years, which has had a knock-on effect on the workload of the finance function. This role will report directly to the Finance Director, and you will be working within a team of five.

Your new role

1. Assisting and preparing bank reconciliations for multiple accounts (GBP, Euro, Dollar)
2. Monitoring cash flow position
3. Recording cash receipts & banking cheques received
4. Designated accounts reconciliations for both clients and underwriters
5. Drawing up and presenting cheques and bank transfer forms for agreement by the Client Money Manager and for Directors’ signature
6. Processing weekly payments runs in multiple currencies
7. Recording and processing insurance payments
8. Preparing and issuing statements of account, chasing settlements
9. Dealing with enquiries and queries and liaising with technicians/account handlers
10. Notifying brokers of aged debt or accounting issues
11. Other accounting duties as requested by the Finance Director/Client Money Manager
12. Assisting with Client Money Drawdown calculations
13. Credit control – including monitoring of Premium Payment Warranties/Conditions to ensure settled before due date
14. Downloading bureau signing messages and allocation of the daily signings
15. Claims payment runs once a week, and running the claims' spreadsheet
16. Making sure Non-Risk Transfer letters are completed and forwarded to the relevant clients
17. Bank statements are saved, and eclipse rates completed once per month.

What you'll need to succeed

• Insurance experience is required
• IBA experience is preferred
• Strong IT skills (XL, report writing, Excel)

What you'll get in return

• Hybrid working (2 days per week from home)
• Scope for progression