Process Analyst

6 days ago

Pune, India Mphasis Full time

Job Description
Employing Entity: Mrald (Mphasis's dedicated UK Insurance operational services delivery vehicle)

Job Summary –
 End to end back office service for Insurance Broking Accounts ( IBA)

 Perform credit control

 Perform cash and payment reconciliation and system allocation

 Perform client and insurer statement reconciliation

 Premium and return premium collections – including providing reminders to Broker, Account Executive, Insured, and Insurers

 Follow up and query management for unmatched cash, uncollected debt, queries preventing settlement to Brokers, Insureds, Insurers and third parties etc.

 Make payments to Clients, Brokers, Insured's, Insurers and third parties including approving payment per the agreed approval process (Bureaux and Non-Bureaux)

 Collect funded balances

 PPW and PPC payment ownership

 Ensure adherence to FCA client money rules

Other tasks as required by the Team lead or Senior Technician

Years of experience needed –

 1-2 years of experience in insurance, accounting, or another financial services sector

Relationships
Technical / Non-Technical Skills:

Team Members
 Regular interaction with Trainee Technicians to review and provide guidance on deliverables

 Mentor Trainee Technicians

Others
Within the company:

 Collaborate with stakeholders to identify improvement opportunities and manage expectations

 Participate and proactively contribute to new project related initiatives

Outside The Company
 NA

Person Specifications
Education : Graduate/ Post Graduate

Work Qualifications: Insurance or accounting industry qualification is a plus

Experience
Essential:

 Experience in one of these areas: credit control and cash allocation, accounts payable, account reconciliation

 Understanding of insurance process

Added Advantage But No Compulsion
 IBA experience

Certifications Needed: NA

About Mphasis
Mphasis applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis' Front2Back Transformation approach. Front2Back uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients.

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