Finance Operations Lead

International Catalyst Services, LLC; New York (NY); Hybrid; USD 80,000 - 120,000; Full time

Job summary

Join a dynamic team as a Fiduciary/Finance Operations Lead where your expertise will drive operational excellence and compliance. In this pivotal role, you'll oversee fiduciary operations, ensuring high standards of service delivery while collaborating with various stakeholders. Your leadership will enhance team performance and operational efficiency, making a significant impact on the organization. This innovative firm values your insights and offers a collaborative environment that fosters professional growth and development. If you're ready to take on a challenging yet rewarding role, this opportunity is perfect for you.

Benefits

Competitive salary

Performance-based bonuses

Comprehensive benefits package

Health and dental plans

Retirement plans

Professional development opportunities

Collaborative work environment

Qualifications

• 10+ years of experience in finance operations with a focus on insurance.
• Strong managerial experience with proven service delivery in financial services.

Responsibilities

• Oversee fiduciary operations and ensure compliance with regulations.
• Manage SLAs and stakeholder relationships for operational efficiency.
• Perform reconciliation of premiums, claims, and manage collection activities.

Skills

Leadership Skills

Analytical Ability

Communication Skills

Negotiation Skills

Resource Management

Decision Making

Planning and Organizing

Ability to Work Under Pressure

Education

Bachelor's Degree in Finance or related field

Tools

Microsoft Office

Job description

We are seeking a highly skilled and motivated Fiduciary/Finance Operations Lead to join our dynamic team. The ideal candidate will be responsible for overseeing fiduciary operations, ensuring compliance with regulatory requirements, and enhancing operational efficiency. This role requires a strong understanding of fiduciary responsibilities, excellent leadership skills, and the ability to collaborate effectively with various stakeholders.

We will count on you to:

Management

1. Manage SLAs on Accuracy, productivity and TAT per agreed standards with internal/external stakeholders to ensure the smooth and efficient deliveries.
2. Maintain a day-to-day stakeholder interaction & develop relationship with first line managers of operating companies for constant flow of information on performance (daily, weekly, monthly), exceptions, expectations, forecasts, process changes and improvement plan.
3. Responsible for managing available resources (people, process) effectively to ensure operational efficiency.
4. Perform capacity analysis, monitor and manage team workload and capacity to ensure that team performs effectively that meet quality standard.
5. Assess team competencies, potential, and performance levels to create and implement development and engagement plans that address current and future skill requirements, while setting goals, providing timely and objective feedback, and identifying skill and competency gaps to develop tailored learning plans for team members.
6. Maintain performance on risk and compliance by identifying areas for improvement in operations risk, while reporting and highlighting exceptions related to processes, people, and policies, and escalating decisions on similar exceptions as necessary.
7. Undertake ad-hoc assignments/any other tasks by Regional and Local office.
8. Manage and responsible on system implementation and Business Process Improvement projects.

Billing / Accrual / Reconciliation

1. Performing reconciliation of premiums, claims, commissions and fees.
2. Tracking and resolving reconciliation discrepancies & monitoring status of queries with internal and external contacts.
3. Issue billing within agreed TAT.
4. Review/ prepare insurer /customer statement reconciliation and follow-up to clear un-identified/un-reconciled items.
5. To act as intermediary person to follow up and work closely with Brokers and fiduciary team, and directly liaise with insurer/client on the reconciliation and outstanding items i.e. documentation, debts, commission.
6. Monitor, manage and process accrual transactions.

Collections / Credit Control

1. Managing collection activities and liaising with clients, insurers in timely manner to prevent long outstanding transactions.
2. Resolving collection and payment specific queries and referring to the appropriate stakeholders (Finance, Ops, Brokers, Management) for query resolution.
3. Investigate, discuss and resolve customer accounts/ Insurers/ Reinsurers issues and attend to queries raised by Country Finance, Broker or Underwriters related to outstanding collections.
4. Track and monitor outstanding collections to prevent bad debt provisioning.
5. Conducts and prepares debt analysis and forecasts for management review.

What you need to have:

1. Minimum of 10 years working experience with 5 years in a managerial role.
2. Experience in operations in Insurance / financial services/ insurance operation within an organization with proven track record in service delivery.
3. Operations knowledge in Invoice to Cash process and dealing with regional / onshore stakeholders.
4. Experience in end-to-end credit control and accounts receivable processes within insurance / insurance broking industry.

What makes you stand out:

1. Good command of spoken and written English.
2. Analytical ability, Decision making, Planning and Organizing.
3. Communication, Influencing and Negotiation skills.
4. Resource Management, Leadership and People management.
5. Work well under pressure and able to handle workload.
6. Must have high proficiency in Microsoft Office.
7. Experience in Insurance and Finance Operations.
8. Experience in Process Improvement / Change Management / Project Management is a plus.

Why join our team:

1. Competitive salary and performance-based bonuses.
2. Comprehensive benefits package, including health, dental, and retirement plans.
3. Opportunities for professional development and career advancement.
4. A collaborative and inclusive work environment.

Marsh, a business of Marsh McLennan (NYSE: MMC), is the world’s top insurance broker and risk advisor. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow on LinkedIn and X.

Marsh McLennan is committed to creating a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.

Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.