Accounts Receivable Analyst – 6 months FTC

myGwork - LGBTQ+ Business Community; Birmingham; Hybrid; GBP 30,000 - 50,000; Full time

Job description

General

Job description and person specification

Job Title: Accounts Receivable Analyst – 6 months FTC

Location: Birmingham office - 2 days PW

Key Relationships:

Internal: Underwriting, Claims, Finance, UK & RoW Operations teams, Digital Operations teams, Digital Services Team, IT, Agresso Support, AR Support team and Broker Relations

External: Brokers, 3rd Party service providers and external credit controllers

Job Summary:

Ownership of open debt, collections and cash allocation including:

• Daily credit control processing;
• Business partnering with operations underwriting and business teams;
• Managing relationships with the brokers, underwriting and the business;
• Daily data validation, reconciliation and analysis;
• Monthly processing, controls & reporting;
• Monthly reconciliations / financial accounting;
• Continuous improvement of the credit control function;

General Responsibilities:

• Develop meaningful and strong working relationships with brokers and key stakeholders across the Group.
• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic attitude that contributes to an internal environment of teamwork and promotes a positive brand image to our external customers.
• Comply with Beazley procedures, policies and regulations relevant to your role. Undertake relevant training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.
• Ensure that you uphold the Beazley principle of Treating Customers Fairly and Conduct.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.
• Discipline, within the Beazley Group guidelines, members of staff contravening regulations per staff handbook.

Key Responsibilities:

• Daily credit control technical processing;
• Debt collection activity in line with Beazley collection strategies (Dunning cycle).
• Allocation of daily and legacy unallocated cash against open debt items.
• Supporting cash allocation by chasing brokers for missing payment details/remittances and chasing UCO & Underwriters for missing policy booking.
• Optimise auto cash allocation through root cause analysis of cash blockers.
• Assist with facilitating DD collections, rejections and reconciliation liaising with brokers as required.
• Identify open items to escalate into cancellation process.
• Calculation and preparation of refund, commission and legal fee payments.
• Operate in line with credit control financial control framework.

• Business partnering with operations, underwriting and business teams;
• Proactive debt management by UW division and broker.
• Work with the business to provide finance insight to collections and cash activity.
• Provide MI on aged debt, unallocated cash and collections patterns.
• Work with operational teams to align operational metrics to finance metrics.
• Assist with product implementations, migrations and system developments providing finance input to process and system requirements, and testing.
• Identify and raise data quality issues, customer facing pain points, broker behaviour trends.
• Collaborate with Broker relations to optimise broker experience.

• Managing relationships with the brokers, underwriters and the business;
• Liaison with Beazley underwriters, Claims and Finance staff as appropriate to resolve account queries.
• Managing internal / external payment queries and escalating as appropriate to ensure service levels are met.
• Provide professional service to brokers and other external partners in all interactions.
• Provide business divisions with a monthly aged debt summary for use in the renewals process.

• Daily data validation, reconciliation and analysis;
• Review daily premium data including E2E Rec and liaise with IT and operations teams to resolve data quality issues.
• Review policy feeds for inappropriate due dates and raise with operations team for immediate correction.
• Review and reconcile bank data to Agresso or cash allocation excel.
• Manage internal transfer/payments process including identifying and generating payment requests.

• Monthly processing, controls & reporting;
• Payment and management of Broker DD commission and ad hoc cash from customer commissions.
• Management, tracking and oversight of cancellation process.
• Support monthly reporting of cumulative unallocated cash by entity, broker and status.
• Support monthly reporting of open debt - top 20 items (in each age bracket) and trends.
• Effectively communicate and report progress and escalate issues as required to senior management.
• Support six monthly debt recoverability reviews.

• Monthly reconciliations / financial accounting;
• Monthly bank, debtor, UAC, transfer account reconciliations.

• Continuous improvement of the credit control function;
• Ensure that appropriate standards are established and complied with.
• Ensure all processes and controls are fully documented and up to date.
• Use business knowledge and understanding of credit control processes to propose improvements and enhancements.
• Support new functionality and User Acceptance Testing (UAT) as required.

Personal Specification:

• Education and Qualifications
• General accounting knowledge.
• Educated to A level or equivalent.
• CICM/AAT/ACCA/CIMA qualified advantageous.

• Skills and Abilities
• The ability to manage time, meet deadlines and prioritise.
• Advanced analytical analysis and data manipulation skills are essential.
• Ability to review, validate and reconcile data between multiple systems is essential.
• Strong accounting and finance control skills are essential.
• Strong presentation skills are essential.
• Strong underwriting and finance system interrogation skills are essential.
• Accurate and numerate, attention to detail.
• Excellent communicator, able to communicate effectively both verbally and in writing.
• Self motivated, able to work on own initiative.
• Strong computer skills.
• Being fluent in French would be desirable.

• Knowledge and Experience
• Experience credit control collections and cash allocations essential.
• Experience of process / system improvement in a Finance team is essential.
• Experience of working in a Lloyds/general insurance environment is desirable.
• Familiar with accounting principles.
• Advanced knowledge of Excel.
• Experience of FIS GetPaid, GoCardless, Agresso, MyBeazley or similar systems is desirable.

• Aptitude and Disposition
• Outcome focused; self motivated and enthusiastic.
• Professional approach to successfully interact with internal service company staff as well as external contacts.
• Ability and willingness to roll up sleeves and get involved in detail.
• Ability to interact with individuals at all levels of the company.

• Competencies
• Concern for quality, Relationship builder, teamwork, good communicator, attention to detail, Initiative, business awareness, advocate for change, problem solver.