Broker Accounting Relationship Assistant - Accounting and Settlement

Role Title: Broker Accounting Relationship Assistant - Accounting and Settlement

Department: Operations

Team: Business Support

Location: London

Type: Permanent

About the Role:

The Broker accounting relationship Assistant will assist with the maintenance of our top 5 brokers alongside their assigned Broker relationship Manager. The opportunity to also look after a smaller broker in its entirety to build and establish a greater relationship to boost payment performance. The role will also include the reconciliation of ledgers and allocating funds where appropriate. Working in collaboration with all team members and assisting in BAU where required.

About the Department & Team:

The Cash & Credit Control department in London is a key operational department responsible for cash and credit control across all LMIE UK and Brexit branches, this involves:

• Collection, reconciliation, and allocation of cash across all UK and Brexit branches
• Credit Control across all UK and Brexit branches. This includes:
• Managing debt levels within appropriate service levels
• Establishing, maintaining, and leveraging both internal and external relationships in order to achieve the reduction in cash and debt.

Key Responsibilities:

• Reconciliation and distribution of Broker statements supporting the offshore processes with an allocated portfolio.
• Manage aged cash and debt escalation. Liaise with Brokers to ensure the timely settlement of all debts.
• Review and investigate overdue premium debtors and compile reporting for underwriting teams.
• Facilitate meetings with Syndicate and Company Underwriters to resolve queries and to investigate any potential bad debt.
• Investigation and reallocation of misallocated cash.
• Broker relationship management, to ensure payment performance and reduction of aged debt.
• Review closed years of account and re-allocate cash where required.
• Route cause analysis, collaborating with various stakeholders to ensure operational efficiency for assigned portfolio.
• Review with Underwriters the reporting of overdue premium for each class of business / aged debt bandings
• Liaising with XIS on individual Signings/Broker queries on a transaction basis.
• Investigation and resolution of unallocated cash.
• Assist with the creation of metrics on a monthly basis.
• Review EPI variances and ensure amendments completed on system.
• Monitor data discrepancies identified by outsource partner and update the system accordingly.
• Contribute to the update of aged debt reporting and credit control policies, processes, and procedures as
• required following changes to business practice, systems, and reports.
• Liaise with outsource partner regarding the escalation of queries.
• Update key information in policies where required in collaboration with the Underwriting Assistant or Quality Control Technician.
• Monitor own performance against teams SLA’s and KPI’s
• Support various month closed procedures as directed.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing

Skills and Experience:

• Good verbal and written communication skills
• Proficient in the use of MS Office in particular Excel.
• The ability to work to varying and demanding deadlines.
• Ability to work independently.
• Strong analytical skills required.
• Good organisational skills and time management (attention to detail is critical)

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets is part of 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