Insurance Accounting Specialist

2 days ago

Noida, Uttar Pradesh, India beBeeAccounting Full time ₹ 9,00,000 - ₹ 12,00,000

Job Overview:

We are seeking an experienced professional with strong UK insurance accounting expertise.

Key Responsibilities

  • Manage debtor and creditor ageing to ensure timely payments and accurate financial records.
  • Perform bank reconciliations to verify cash transactions and detect discrepancies.
  • Utilize systems such as Acturis, Web Sure, Broker Sure, LexisNexis for efficient operations and data management.
  • Understand the difference between broker vs sub-broker and wholesale vs retail broker in order to navigate complex business relationships effectively.
  • Process and apply incoming cash receipts accurately across client and insurer accounts to maintain a high level of financial integrity.
  • Manage collections and follow up on outstanding balances with insurers and clients to prevent delays and losses.
  • Perform insurer statement reconciliations and resolve discrepancies to ensure accurate financial reporting.
  • Prepare and review bordereaux reports and calculate client money positions in line with UK regulations to guarantee compliance.
  • Ensure compliance with broker trust account rules and IBA accounting standards to protect client interests and assets.
  • Support month-end close activities and maintain accurate financial records to facilitate informed business decisions.
  • Collaborate with internal teams and external stakeholders to ensure smooth financial operations and effective communication.
  • Maintain process documentation and support internal/external audits to demonstrate transparency and accountability.
  • Track and meet SLA/KPI targets consistently to drive business growth and excellence.

Required Skills and Qualifications:

  • Bachelor of Commerce/Master of Commerce/Master of Business Administration degree.
  • Strong knowledge of UK IBA accounting and broker operations to navigate complex regulatory environments.
  • Experience in cash applications, insurer reconciliations, collections, and bordereaux preparation to deliver high-quality results.
  • Familiarity with client money rules and insurer statement handling to ensure accuracy and compliance.
  • Proficient in Excel and financial systems to analyze data and make informed decisions.
  • Client Money Calculation experience is preferred to enhance skills and knowledge in this critical area.

Benefits:

This role offers opportunities for professional growth and development in a dynamic and challenging environment.

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