To support the Credit Risk Management Team in the collection of premiums and through debt management and account trend analysis, improve the credit risk of any intermediary to the business.
Carries out day to day operations within your own area of responsibility; primarily responsible for collection and monitoring of a prescribed book, however will be called upon to assist with project work as a member of a team.
Self management – ensuring that own work is carried out to agreed procedures, systems, accurately and within any specified time limit.
3. Key Result Areas.
Collection and Accounting of Due Debt
- Through collation and capture of all due premium debt, effect the effective collection of all unpaid premium debt. In doing so identify any cleansing issues and liaising with underwriting SBU's to resolve accordingly. Ensure the collection of all due debt through processes that are in accordance with the businesses established collection and escalation guidelines. Ensuring effective allocation / accounting of all debt / cash received.
- Through the full understanding of: Business processes, system use, data capture work across the team to assist in the process of improving debt collection and reporting. Monitoring the items identified for cleansing to ensure that they are promptly resolved, recommending changes to processes which will mitigate recurrence.
- To monitor account specific debt cycles highlighting to the Credit Risk Manager & team of potential issues, deviances or fluctuations in cycles. Thus assisting in the management of credit risk to the company.
- To report actual debt / unallocated cash levels / future collectables, with trend analysis results issued across the team and established communication routes. Including but not restricted to: Monthly Broker Pack, Weekly Underwriter / Binder Manager Updates. This will ensure group clarity on debt and cash, issues and cycles.
- Maintain regular communication with internal customers both to report progress and to escalate issues. Represent the business professionally to external intermediaries whether by face to face, phone or e–mail communication.
- To assist as designated to Credit Risk related projects.
4. The Operating Environment and Context of the Job
- To be fully effective in this role you will have a good base knowledge of London and UK market practices including broker, bureau and Managing Agency perspectives. Having effective communication and prioritisation skills will enable you to ensure that credit risk debt is monitored, chased and communicated across the team and group. Although not under strict time constraints there are "busy" periods and these should become part of the debt trend process.
- Ensuring debt levels and risk is minimised will assist in all the business processes.
5. Key Attributes
Change – Be recognised as a supporter of change within the London and UK credit risk team enabling efficient change both to the management and reporting of London and UK debtors.
Communications – Be recognised as a positive, effective and multi–level communicator with all stakeholders.
Stakeholder Management – Be recognised as an effective manager of multi–level stakeholders both internally and externally.
Knowledge – Be recognised as the key point of reference for your account both internally and in your market.
Delivery – Be recognised as a trusted partner to the team, business and stakeholders for measured, consistent and accurate delivery against agreed requirements.
6. Key Interfaces:
- Brokers within market account handled
- Class Underwriters & assistants within account handled
- Finance Management Team