For Recruiters
LMA

Technical Accountant

LMA
United Kingdom, London
Posted 6 days ago Contract £5500-£65000
Juneid
Posted by
Juneid Razzak
Executive Recruiter
Technical Accountant-Insurance Sector

The principal purpose of the role is to undertake a range of tasks related to the timely settlement of receivables and payables and minimise the Company’s overdue debt and unallocated cash receipts

 

Key responsibilities

Review and understand Global (underwriting system) endorsements processed by the underwriting team and associated contractual documentation, invoices etc

Review and understand Global (claims system) entries processed by the Claims team – in particular outwards reinsurance recoveries

Monitor the due dates of pending items (receivables/payables) and contact the relevant counterparty ahead of the due date to obtain a timely settlement

In the even that the pending item becomes overdue, engage with the counterparty to expedite settlement as soon as practicable

Collaborate with the underwriting team if endorsements are required to reconcile the original pending items to updated values advised by the policyholder

Investigate cash receipts to ascertain which pending items have been settled in the eyes of the counterparty

Recommend cash payment/receipt offsetting against pending items to other members of the Accounting team

Advise other Accounting staff if the offsetting triggers any related activity (eg, IPT payable)

Produce MI for the CFO, other teams, the Board, Head Office as appropriate

Develop a database to record actions on overdue items and unidentified cash to make it easier to follow what actions have been undertaken

Investigate historical uncleared pending items with a view to collecting, paying or writing them off

Assist the CFO with his MI for (i) pending item management (ii) Global contracts (iii) Global claims and (iv) reinsurer database

Any other tasks that the company may reasonably assign from time to time, according to business needs

 

Required Qualifications, Skills and Experience

Qualifications:

Accounting/Finance degree or equivalent desirable

•ACCA, ACA or CIMA

Skills & Experience

Knowledge of accounting practices and principles including thorough practical experience of bookkeeping or maintaining accounting ledgers. Comfortable with debits and credits. Can relate the technical features of the work to the trial balance and accounting outputs

Non-life insurance accounting experience essential

Key Competencies

Attention to detail and accuracy

Ability to digest technical documents and the impact on accounting entries

Planning and organising; can be flexible about priorities according to business demands; awareness of demands on the Company’s staff

Good communication skills – many counterparties will be based abroad

Problem analysis and problem-solving skills

Use own initiative; inquisitive

Perseverance

Collaborative and supportive of co-workers

Confidentiality

Awareness of the importance of performing financial controls and various compliance expectations within a financial services firm

Confident in using spreadsheets. Has the ability to critique functionality and adapt/create better solutions

Excellent work ethic; accepts the job role necessarily has a mix of routine and more complex tasks but applies high professional standards to both 

Job ID  SSTA34
ABOUT COMPANY
United Kingdom, London
HR & Recruitment
LMA Recruitment is an award winning, professional services recruitment organisation, with offices in London and Singapore. Since the inception of the...
More Jobs From LMA
LMA
Loans Documentation/Syndications Analyst - AVP
LMA
United Kingdom, London
2 days ago Full time 285p/d
LMA
Banking Operations/Junior Business Analyst
LMA
United Kingdom, London
2 days ago Full time 250 p/day
LMA
Business Management Officer (Banking Ops)
LMA
United Kingdom, London
3 days ago Full time 55000.00
LMA
Senior Client Service Representative
LMA
United Kingdom, London
5 days ago Full time 45K - 55K (DOE)
LMA
Finance Manager
LMA
United Kingdom, London
about 2 hours ago Full time £75,000-£80,000 Total Package
LMA
Client Administration Operation Control Officer
LMA
United Kingdom, London
about 21 hours ago Full time 300 p/day
LMA
Loans Documentation Officer
LMA
United Kingdom, London
1 day ago Full time 300 p/day
LMA
Sanctions Financial Crime SME
LMA
United Kingdom, London
1 day ago Full time 400.00 per day
LMA
KYC On-boarding Manager
LMA
United Kingdom, London
1 day ago Full time 95,000
LMA
Cass Operations Analyst
LMA
United Kingdom, London
2 days ago Full time 250 p/day
More Jobs Like This
Goodman Masson
External Reporting and Technical Accounting Manager
Goodman Masson
United Kingdom, London
Financial Services
VP Technical Accounting Policy
Financial Services
United Kingdom, London
Ameriprise Financial, Inc.
Director of Technical Accounting
Ameriprise Financial, Inc.
USA, Minneapolis
Aston Carter
Administrative Assistant
Aston Carter
United Kingdom, London