Executives
- EXL
- 1 - 2 years
- Pune
- 1 month ago
- Email to a friend
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Job Description
Group Insurance
Sub Group Insurance
Organization Insurance Finance & Accounting
LOB Back Office
SBU Operations
Country India
City Pune
Center IN Pune SEZ C25
Skills
Skill
Good Commuincation Collections Processing Reconciliations Monthly Close Process MS Excel Insurance
Minimum Qualification
Bcom MBA
Certification
No data available
Job Description
Job Purpose
The Credit Controller will be responsible for managing premium collections and aged debt for either Bureau or Non-Bureau accounts. This includes ensuring timely payments from clients, minimizing bad debt, and providing effective communication with internal and external stakeholders. In the Bureau role, the controller will focus on tasks involving the London Market, while the Non-Bureau role will handle direct insurance collections outside the Bureau system.
Key Responsibilities
Bureau Credit Control
1. Manage collections through the London Insurance Market Bureau, focusing on syndicate accounts.
2. Reconcile and monitor the aged debt reports on Bureau accounts, flagging issues promptly.
3. Maintain accurate records of all collections and communications on Bureau systems.
4. Liaise with underwriters, brokers, and syndicates to facilitate prompt payments and address discrepancies.
5. Manage premium collections on Xchanging/Insurers Market Repository (IMR) systems.
Non-Bureau Credit Control
1. Perform collections directly from clients and brokers outside of the Bureau.
2. Monitor and report on aged debt for Non-Bureau accounts.
3. Implement effective credit control processes for direct premium collections and application on system
4. Work with finance and underwriting teams to ensure accurate application of payments.
5. Ensure timely payment from direct clients, minimizing delays and addressing disputes.
General Responsibilities for Both Roles
1. Perform regular analysis and reporting on aged debt and collections.
2. Identify and mitigate risks related to overdue payments and potential bad debt.
3. Assist in month-end and year-end closing by providing relevant data and reports.
4. Maintain a strong working relationship with internal stakeholders to resolve payment issues.
5. Contribute to process improvements within the credit control team.
Skills and Qualifications
1. Education: Bachelors degree in Finance, Business Administration, Accounting, or related field preferred.
2. Experience:
Minimum 2-5 years of experience in credit control within the insurance industry.
Specific experience in Bureau credit control (e.g., working with Xchanging) and/or Non-Bureau credit control.
3. Technical Skills:
Proficiency in MS Office Suite, especially Excel.
Familiarity with insurance market systems (IMR, London Market Bureau) for Bureau roles.
4. Soft Skills:
Strong negotiation and communication skills.
Analytical skills for assessing aged debt and credit risk.
Attention to detail and accuracy in reporting and reconciliation.
5. Other Requirements:
Knowledge of UK insurance market practices.
Ability to work under pressure and meet deadlines.
Job Classification
Industry: Software ProductFunctional Area / Department: Customer Success, Service & Operations
Role Category: Operations Support
Role: MIS Executive
Employement Type: Full time
Contact Details:
Company: EXLLocation(s): Pune
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Keyskills: Executives
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