Head of Credit Control & Agency Finance Operations

Job Type: Permanent

Build a brilliant future with Hiscox

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

The Role

Hiscox Syndicates Limited (HSL) manages three syndicates which form part of the Hiscox Group. Most of the major business units within the Hiscox Group use one or more of the syndicate balance sheets to some degree, and the business written through HSL includes around half of the Hiscox Group. Certain business is written via Hiscox owned agency companies, both on behalf of Hiscox and third party carriers.

Reporting to the Director of Syndicate Finance, the Head of Credit Control and Agency Finance Operations will be responsible for a team of approximately 9 credit control and finance operations professionals. The role demands a highly motivated and experienced leader who can effectively guide and develop the team. Key responsibilities include fostering a collaborative and high performing environment, and ensuring that the team can develop and improve timely and accurate credit control and agency finance processes and reporting, aligned with strategic goals. The role involves working within the HSL Finance team, partnering with several business units, and senior internal and external stakeholders. Considerable analytical ability and influencing skills are needed, as is strong commercial awareness and the ability to build strong stakeholder relationships.

The role will also involve undertaking ad-hoc project work to support meeting our strategic goals.

Key Responsibilities

• Lead the credit control function for the HSL Syndicates, and own the relationship with shared service outsource provider, monitoring and reporting on service levels and performance.
• Lead the credit control function for the HSL agencies, ensuring timely broker account reconciliations, cash receipts, and carrier payable settlements.
• Ensure all internal and external reporting requirements are met, and prepare presentations and reports for management and business unit stakeholders.
• Ensure risk tolerance thresholds are defined and adhered to, and key performance indicators such as aged debtors analysis are analysed with appropriate actions taken.
• Maintenance and development of credit control policies, procedures, and controls, to support robust and efficient operations aligned with industry best practice.
• Communicating with senior stakeholders and making recommendations for escalations, NOC’s, and employing effective strategies to minimise bad debt and maximise recovery rates.
• Lead, motivate and develop a multi-location team of c.9 individuals, cultivating their talents, developing their knowledge and skills, and upholding company values.
• Continuous improvement of HSL syndicate and agency credit control processes and reporting.
• Supporting wider HSL finance team accounting ledger close and reconciliations, with timely, accurate, and complete sub-ledger source data, and investigation where necessary.
• Provide subject matter expertise to support business initiatives and project work.

Skills / Qualifications / Experience required

• Extensive experience in credit control and financial management within the Lloyd’s market.
• Strong understanding of Lloyd’s market practices.
• Identification and implementation of process improvements.
• Excellent analytical and problem solving skills.
• Exceptional communication and organisational skills, with the ability to build relationships with key stakeholders.
• Demonstrated leadership and team management skills.
• Qualified accountant.

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

Work with amazing people and be part of a unique culture