Process Analyst
5 days ago
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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