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 detail-oriented Credit Controller to join their dynamic team in London. This full-time role involves managing premium credit control processes, ensuring timely premium payments, and collaborating with underwriters to resolve queries. The ideal candidate will have a strong background in credit control, particularly within the London Market, and a keen understanding of Lloyd's standards. Join a forward-thinking company that values diversity, equity, and inclusion, and offers a supportive environment for professional growth and development.

Benefits

Critical Illness Insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Schemes

Electric Vehicle Salary Sacrifice Scheme

Health Assessments

Qualifications

• Proven experience in a Credit Control role within the London Market.
• Understanding of Lloyd’s Minimum Standards for premium collection.

Responsibilities

• Monitor premium payments and ensure they are received within agreed terms.
• Produce and analyze aged debtor balances regularly.
• Collaborate with underwriters to resolve premium queries.

Skills

Credit Control Experience

Lloyd's London Market Knowledge

Data Analysis

Reconciliation Skills

Communication Skills

Job description

About us

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

Our success is driven by a strong culture where people are encouraged to be present, bold, and curious, enabling them to achieve their individual goals.

We are currently seeking a Credit Controller for a full-time position in London, reporting to the Head of Premium Debt Management.

Ideal Candidate

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

You will be part of the Underwriting Business Management Division, responsible for premium credit control, including monitoring premiums, reporting, processing, and analyzing the business underwritten by the managed Syndicates and other related Group companies (dual stamp).

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

Your responsibilities include monitoring premium payments to ensure they are received within agreed credit terms, processing credit control transactions, and supporting the central Premium Debt management process to operate efficiently. You will act as the central contact point between underwriters, brokers, and relevant third parties.

Responsibilities

• Support the Premium Debt team with credit control processes and manage accurate premium data daily.
• Produce, analyze, and investigate aged debtor balances regularly.
• Chase, resolve, negotiate, and reconcile aged debt accounts with brokers to maintain accurate premium records.
• Handle complex reconciliations and escalate issues as appropriate.
• Collaborate closely with Underwriters to resolve premium queries and errors promptly.
• Work with underwriting teams to improve premium credit control management.
• Monitor premium payments through relevant systems.
• Respond to internal queries and own resolution.
• Understand and monitor relevant KPIs.
• Interface with underwriters and other teams within the group.
• Enhance operational analysis of premium payment results and trends, verifying data accuracy.
• Document processes effectively.
• Manage tasks within deadlines, including scheduling review meetings.
• Continuously evaluate and improve processes with stakeholders.
• Assist other team areas and provide cover as needed.
• Promote good conduct to deliver optimal outcomes for customers and policyholders.
• Understand escalation lines and responsibilities related to conduct risk management.

Knowledge and Skills

• Experience in Lloyd’s London market is beneficial.

Diversity, Equity & Inclusion

At Munich Re, DEI fosters innovation and resilience, enabling us to act bravely and effectively. We aim to build a diverse workforce across racial, ethnic, sexual, gender identities, backgrounds, abilities, ages, experiences, and beliefs. We are committed to creating an equitable, inclusive environment where diversity is celebrated and opportunities are equitable.

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

Our Commitment to Sustainability and Employee Wellbeing

Our ESG strategy focuses on seizing business opportunities and fostering an inclusive, stimulating work environment. We support local community initiatives and offer volunteering opportunities.

• Critical illness insurance, Life Assurance, Permanent Health Insurance
• Wellbeing and Development schemes, EAP, Health assessments (subject to eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Support for professional development and continuing education