IBA Technician

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 –

 1-4 years of experience in insurance, accounting, or another financial services sector

Technical / Non-Technical Skills:

Relationships:

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:

 Liaise with the Clients, Agents, Retail Brokers, Insurers

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