Role Title: Senior Operations Technical Account Assistant – Premium Reconciliation
Division: Business Support
Department: Operations
Location: London
Type: Permanent
About the Role:
This role within operations at LSM is a technical role which supports cash and debt activities as a whole and is a link between both the onshore and offshore cash as well as credit control and underwriting support. The primary objectives in this role:
1. Investigate complex cash and debt related items outstanding due to technical accounting issues that are now aged.
2. Ensure that risks and any amendments to those risks written by the underwriting teams are processed onto the relevant system(s) in an accurate and timely manner.
The ability to effectively communicate with many teams across LSM and prioritise work according to various system close dates, SLAs and KPIs is a fundamental attribute required to fulfil the role.
You will be part of a wider team of over 60 people supporting over 190 underwriters across approximately 30 lines of business.
About the Department & Team:
Underwriting Support is a team in the business support division which sits within the wider operations department. As a team we ensure our offshore colleagues are provided all the information required to accurately process premiums onto our policy admin systems within the agreed SLAs. Supporting the underwriting teams in general administration of the policy file, reporting, operational process advice and guidance and other ad-hoc requirements also forms an important part of the role the team plays within the business. We also work very closely with the cash and credit control functions to ensure any issues or queries relating to payments are investigated and actioned accordingly.
The operations department also comprises divisions such as MI and analytics, claims operations, facilities, strategic operations and IT. Data timeliness, quality and accuracy are at the heart of our core responsibilities and processes and together we provide effective support services to the whole business enabling LSM to meet its revenue, growth, and other strategic goals.
Key Responsibilities:
- Assist other members of the team as and when required with queries and operational processes.
- Assist the team leader as required in team administrative tasks and meetings.
- Highlight any concerns/issues etc for the team to the team leader as required.
Documentation & Risk Administration:
- Technical analysis of complex risks through the use of slips, endorsements, reports and/or other relevant documentation.
- Administers accurate and timely logging of data onto the relevant system i.e. premium/ policy /endorsement /renewals entries and manages own workload appropriately (Genius).
- Identify trends and common mistakes and put plans in place to rectify them.
- Liaise with underwriting teams to ensure all required information has been provided for entry onto the processing documentation.
- Assist underwriting support teams with cash and debt activities as required.
- Regularly investigate and update Estimated Premium Income (EPI) information on the policy admin system (Genius).
- Manage and work on queries sent into the premium reconciliation team mailbox.
- For Company risks ensure a 4-eye check is completed on the financial information entered by our offshore processing partners and respond for either sign off or requesting correction.
- Respond to queries from the offshore processing partners and/or QC team within SLA.
- Support various month close procedures.
- Investigate any items on team monitoring reports sent by underwriting support management and respond accordingly in a timely manner.
Communication:
- Inform underwriting support management and underwriting teams of any potential backlogs or build-up of work as required.
- Keeps underwriting support management and underwriting teams up to date with progress against SLAs and KPIs weekly.
Ancillary Tasks & Teamwork:
- Assist with any audit activities as required.
- Work with underwriting support management to ensure any training materials either internal or for our offshore processing partners is up to date and contains the correct information.
- Train members of the offshore processing team, new starters and other support teams as and when required.
- Work with a continuous improvement mindset and raise any possibilities for improvement to our processes to underwriting support management.
- Assist and support the team on ad hoc tasks and projects or other duties as reasonably requested.
- Prioritise work and gives a good level of attention to detail to ensure team quality and timeliness targets are met.
- Contribute to system and process change activities.
Stakeholder Management:
- Regularly meet and have open dialogue with internal customers
- Manage the timely response to requests for information related to policy processing.
- Support other stakeholders and colleagues as required, e.g. Claims Adjusters, Risk Engineers Exposure Management
- Liaise with Brokers to manage accounts as required.
Skills and Experience:
- Relevant insurance experience, preferably within the London/Lloyd’s Market.
- Experience with transactional insurance system Genius desirable but not necessary.
- Experience with accounting and settlement repository system Xchanging (CLASS) desirable.
- Strong verbal and written communication skills and the ability to interact with a diverse group. including peers, executives, managers and subject matter experts.
- Demonstrate ability to handle out-of-the-ordinary policies.
- Good MS Office skills; in particular Excel.
- Ability to retrieve reports and manipulate data to satisfy any monthly or ad hoc information request from assigned line of business
- Experience of working to varying and tight deadlines.
- Ability to work independently.
- Strong prioritization skills.
- Strong analytical skills.
- Keen eye for detail.
About Liberty Specialty Markets (LSM):
Liberty Specialty Markets is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion