About the Opportunity:
From Insurer IBA to Client IBA, we ensure seamless reconciliation and management of bureau and non-bureau premium and claim payments, compliant cash allocation, and comprehensive reporting ensuring seamless operations and regulatory adherence.
Position Title:Process Expert / Functional Expert/ Deputy Manager Insurance Broker Accounting
Location: Gurugram, Noida
What you'll be doing:
- Ensure that payments received from clients and payments made to clients reconcile with the client ledger.
- Manage, research, and resolve unallocated cash balances.
- Manage receivables to prevent overdue balances.
- Respond to inquiries and requests from internal and external clients on all IBA issues.
- Collaborate with clients and Underwriting team to resolve premium variances.
- Create or update procedure manuals, ensuring that processes are documented accurately, and documentation is kept current.
- Some of the process activities would include:
- Bank Reconciliation
- Release Bureau signings for payments and returns/claims
- Prepare Cash Receipts and Payment reports to monitor pending actions.
- Application of cash against transactions for which client or UWR has paid the funds.
- BSM matching
- Create daily cash report to check for any unallocated cash.
- Update and send the Funding Report with necessary actions
- Collect the claims from the Underwriters/ Markets and settle the claim to the client.
- Payment of Premium balances collected from the client to be paid to the underwriters.
- Clearing Contra entries with null effect.
- Intercompany payment and reconciliations between different business entities.
- Evaluating the complete ledger for an underwriter/third party/Client to ensure that no items are pending for action.
- Review PPC/PPW transactions and follow-up with client and track progress.
What you'll bring to the team:
- 2-6 years of experience working in IBA domain.
- Knowledge of London Insurance Market concepts and practices.
- Strong analytical and problem-solving skills.
- Exposure to Insurance Broker Accounting systems and applications.
- Ability to manage multiple tasks and meet deadlines.
- Relevant certifications in accounting or reinsurance are a plus.
Learning & Growth:
At Xceedance we offer structured learning roadmaps based on the job role that one is hired for. Starting from a robust new hire training with tollgates to developmental training to groom one's soft skills to perform their current roles along with preparing them for the next level. We also offer destination programs to enable members move to career roles that they desire to in within Xceedance. Our learning offerings are delivered through a variety of mediums like Instructor led training, e-Learning courses administered though our in house LMS.
We also offer a variety of domain specific training across Insurance and Technology accompanied with industry wide recognized certification like CPCU, AINS, Are, PMP, CII, Agile, Cloud etc.
