London Market Credit Controller

Munich Re; London; On-site; GBP 35,000 - 55,000; Full time

Job summary

An established industry player is seeking a dedicated Credit Controller to join their dynamic team in London. In this full-time role, you will support the Premium Debt Management process, ensuring efficient credit control and premium collection. Your expertise in the Lloyd's London market will be invaluable as you manage premium data, resolve queries, and improve processes. This role offers an opportunity to thrive in a supportive environment that values diversity and innovation, making a significant impact on the company's success and customer satisfaction.

Benefits

Critical Illness Insurance

Life Assurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Support for Study & Continuing Professional Development

Qualifications

• Proven experience in Credit Control within the London Market.
• Strong analytical skills to manage premium data effectively.

Responsibilities

• Support the Premium Debt team with credit control processes.
• Chase and reconcile aged debt accounts with brokers.
• Monitor premium payments and ensure timely collection.

Skills

Credit Control

Lloyd's London Market

Data Analysis

Negotiation

Communication

Education

Relevant Degree

Tools

Policy Administration Systems

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.

We are currently looking for a Credit Controller to work with us on a full-time basis in London, reporting to the Head of Premium Debt Management.

Our ideal candidate will have proven experience in a Credit Control role supporting activities within the London Market.

You will be a team member in the Underwriting Business Management Division responsible for premium credit control, which includes monitoring premium, reporting, processing, and analysing the business underwritten by the managed Syndicates and other related Group companies (dual stamp) on a day-to-day basis.

You should understand Lloyd’s Minimum Standards regarding appropriate credit control and management procedures for the collection of premium.

To assist with monitoring all premium payments and ensure they are received within agreed credit terms. To undertake the processing and administration of credit control transactions so that credit control targets are achieved.

To support the central Premium Debt management process and ensure that it operates efficiently and effectively, that objectives are being met, and to assist as the central point of contact between underwriters, brokers, and relevant third parties.

To support appropriate working relationships to improve premium debt performance.

Responsibilities:

1. Support the Premium Debt team with the MRSG Credit Control processes and manage accurate premium data daily, including:
2. Production, analysis, and investigation of aged debtor balances regularly
3. Chase, resolve, negotiate, and reconcile aged debt accounts and balances with brokers to maintain accurate records of outstanding premiums
4. Take control of more complex reconciliations as needed
5. Liaise closely with Underwriters to resolve premium queries and errors quickly, escalating issues as appropriate
6. Work with underwriting teams to develop and improve premium credit control processes within each team
7. Monitor premium payments received through relevant policy administration systems
8. Respond to and own internal queries
9. Be aware of and understand relevant KPIs
10. Interface with underwriters and other relevant teams within the group
11. Enhance operational analysis of premium payment results and trends, monitor EPIs, and verify data regarding unpaid premiums
12. Ensure all processes are well documented
13. Manage tasks within agreed timelines, including scheduling review meetings with management
14. Continuously evaluate and improve processes, engaging stakeholders proactively
15. Assist in other team areas and provide effective coverage as needed
16. Promote good conduct to deliver optimal outcomes for customers and policyholders
17. Understand escalation procedures and responsibilities related to conduct risk at various governance levels

Knowledge and Skills

• Experience in Lloyd’s London market is beneficial

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience, enabling us to act braver and better. We recognize that diversity can be multi-dimensional and intersectional, and we aim to build a workforce that reflects a wide range of backgrounds, identities, and experiences. We are committed to creating an equitable and inclusive environment where diversity is celebrated and everyone has opportunities to succeed.

Candidates can request reasonable adjustments at any stage of the recruitment process by contacting Talent Acquisition.

Learning and innovating today, striving for sustainable societies and business tomorrow

Our ESG strategy underpins our approach to seizing business opportunities and fostering an inclusive, stimulating work environment. It aims to deliver impact across environmental, social, and governance topics, including supporting community initiatives and volunteering opportunities for colleagues.

• Critical illness insurance, Life Assurance, Permanent Health Insurance
• Wellbeing and Development Scheme, EAP, Health Assessments (subject to eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Support for Study & Continuing Professional Development