Insurance Broking Accounts Technician (FTC)

BMS Group; City Of London; Hybrid; GBP 30,000 - 40,000; Full time

Job summary

A leading insurance provider in the United Kingdom is seeking an IBA Technician on a fixed-term contract. The successful candidate will manage the accounting function within the IBA Team, ensuring compliance with departmental procedures and service agreements. This hybrid role requires prior experience in the insurance industry, strong organizational skills, and proficiency in MS Word and Excel. The position emphasizes building internal relationships and adhering to regulatory standards.

Qualifications

• Prior experience in a similar role gained within the Insurance industry.
• Knowledge of Eclipse / Sequel would be beneficial.
• Knowledge of insurance accounting processes is ideal.

Responsibilities

• Process and allocate premium receipts, claim payments, and refunds.
• Monitor and manage client money transactions daily.
• Liaise with Business Technicians as necessary.

Skills

Prior experience in a similar role within the Insurance industry

Knowledge of Eclipse / Sequel

Knowledge of market systems including IMR and CLASS

Knowledge of insurance accounting processes

Strong working knowledge of MS Word & Excel

Strong organizational skills

Job description

Position Title

IBA Technician – Fixed Term Contract (12 months)

Reports to

Senior Account Handler, Insurance Accounts

Location

London (Hybrid working)

Summary of Position

Manage the LPSO Bureau accounting function within the IBA Team to support functions for BMS Group UK according to departmental procedures and service level agreements.

Key Responsibilities & Accountabilities

• Responsible for processing and allocating premium receipts, claim payments, and refunds in accordance with company procedures and market standards
• Query unmatched signing with Business Unit Technicians on day of receipt & follow up until resolved
• Extract and review de-linked signings monthly to ensure underwriter settlements are kept up to date
• File & maintain records daily according to departmental standards
• Build & maintain relationships with internal clients
• Undertaking tasks & responsibilities on the multi-currency, multi company IBA ledger
• Responsible for monitoring & managing client money transactions on a day-to-day basis, maintaining accurate balances and ensuring transactions are recorded promptly.
• Day to day management / monitoring of credit risk, funding, unallocated cash, un-forwarded balances and unrealised Brokerage
• Liaise with Business Technicians in meetings as necessary
• Adhere to company and regulatory policies, procedures together with mandatory training requirements
• Adhere to financial reporting requirements including monthly phasing of income

Functional & Behavioural Competencies required

• Prior experience in a similar role gained within the Insurance industry
• Knowledge of Eclipse / Sequel would be beneficial
• Knowledge of market systems to include IMR and CLASS
• Knowledge of insurance accounting processes is ideal (premiums, claims, closings, settlements).
• Communicates clearly and effectively both verbally and in writing
• Wide range of technical knowledge
• Understanding of the FCA and their requirements
• Strong working knowledge of MS Word & Excel
• Ability to produce accurate and complete documentation consistently
• Ability to effectively contribute to the team and interact with others
• Strong organisational skills
• Personally demonstrate the five BMS values and ensure that team members are aligned with these :
• Accountable
• Entrepreneurial
• Collaborative
• Empowering
• Disciplined

Values

• Accountable
• Entrepreneurial
• Collaborative
• Empowering
• Disciplined