Job Description:

Job information Cash & Credit Control Manager from the Company Tokio Marine HCC, this latest Cash & Credit Control Manager job vacancy is located in the city Hybrid work in London located in the country United Kingdom . This latest job opening is open to job seekers who have the latest education / graduate GCSE . Job Vacancies in this Cash field have been opened and published up to the specified time.

Job Responsibility:

Job Title: Finance Operations Cash & Credit Control Manager Reporting to: Head of International Finance Operations Position Type: Permanent, Full Time Hybrid Working: 3 days in the office, 2 days remotely Overview: Why Tokio Marine HCC? Standing still is not an option in the current world of Insurance. TMHCC are one of the world's leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients. Finance Operations The Finance Operations team (“Fin Ops”) sits within International Finance responsible for delivering quality internal and external outputs to all stakeholders within a controlled framework, covering Credit Control, Cash application, Treasury and Accounts Payable activities. Finance Operations Cash & Credit Control Manager role and responsibilities. The successful candidate will be expected to understand and manage the needs of key stakeholders; both internal and external. The candidate will need to demonstrate insurance knowledge and organizational acumen to deliver to our stakeholders whilst making sure cash is collected and allocated in a controlled manner. Job Purpose:

• Management and oversight of the Cash and Credit Control team to ensure both credit control and cash application is performed to agreed standards.
• Ownership and accountability for credit control and counterparty management oversight
• Managing unexpected and overdue cash and trade debtors with relevant stakeholders, including oversight of European locations
• Collaborating with the wider Finance teams to resolve any cash related queries where required.
• Establish relationships with brokers to ensure cash is received in accordance to agreed payment terms.
• Monthly reporting to stakeholders evidencing effective management and control of all overdue balances.
• Ensure the teams activities are completed in accordance with the monthly close timetable.
• Supporting key departmental initiatives and projects such as change in systems, control and process enhancements.

Key Responsibilities: Team Management

• Oversee and monitor the progress of regular credit control meetings between Underwriting and Finance, ensuring ownership and targets are met for overdue items.
• Effective management and leadership of the team, providing support in liaising with brokers and other insurance companies, respective underwriting, claims departments and data management team to resolve differences.
• Promote, develop and help prioritize activities across the team.

Monthly Closing Process

• Daily and monthly reconciliations of the SBI and ODS feeds from underwriting system(s) AR and AP to the GL.
• Interrogation of source systems' technical transactions to support cash clearing with active management and resolution of all unallocated cash and cash clearing balances in a timely manner and liaise with the appropriate departments where necessary.
• Reconciliation of intercompany balances, resolving discrepancies and agreeing those to be settled
• Ensuring the various teams perform all necessary month-end activities including but not limited to:
  • Achieving the 5 days month-end close
  • Cash Clearing reconciliation - IWBS & OWBS
  • Unallocated cash reconciliation - IWBS & OWBS
  • Claims float reconciliations and controls

Reporting

• Management of aged debt balances (with explanations of any exceptional balances), sourced from the underwriting systems, reconciled within Arcus and reflected in the general ledger.
• Delivery of internal and external reporting is performed to agreed standards with agreed timescales and action plans, including preparing monthly aged debt packs, reports to Underwriters, analysis to risk committees and reporting to Executives.
• Oversee the timely preparation and review of monthly statements to Brokers, Co-insurers and other related parties.

Communication & Stakeholder management

• Provide value added support to the Head of International FinOps with complying with reporting and accounting procedures;

• Build strong relationships with stakeholders within and outside Finance across multiple locations, enabling the department to deliver high quality effective support to the rest of the Business;
• Work collaboratively with the rest of the FMT and FLT to deliver on strategic objectives.
• Maintain relationships with underwriting teams making them aware of any areas of concern and old aged items

Liquidity management, payments and cash flow reporting

• Ensure manual payments requested into Finance are actioned timely and accurately.
• Automate and ensure consistency of payment requests sent into Finance to action.
• Collaborate with Treasury to ensure sufficient funding is made available for large payments.
• Co-ordinate the payment approval process.
• Ensure aged debt > 90 days is proactively chased and collected.

Change Management

• Supporting the wider FiinOps team with making improvements and delivering small change, aligned to our target operating model, which includes standardizing processes across the International Finance team
• Embedding communication and collaboration mechanisms across all locations to enable common standard working practices to be applied
• Working with the Finance Change team to provide support in implementing new ways of working
• Maintain and work towards a culture of continuous improvement

Balance Sheet Reconciliations

• Ensure Balance Sheet reconciliations assigned to the team are completed in accordance with corporate Accounting Policy Memorandums, reviewed and signed-off in a timely manner.
• Full understanding of all appropriate balance sheet reconciliations to the agreed standard and the ability to provide stakeholders with critical analysis of all balance sheet accounts within the teams control.

Policies and Procedures

• Ensure that tasks are performed within the documented policies, processes and procedures and propose changes where necessary. Ensure all sections of the policy and procedure manuals are updated by relevant staff, reviewed and signed-off.
• Evaluate existing control framework and develop, implement and monitor process, practice and procedure to ensure controls are embedded and adhered to
• Oversee and ensure all procedures and processes are fully documented and accurate.
• Oversee the set-up of new effective and efficient Credit Control operations establishing and ensuring key controls, matrix and targets ensuring aged debt is managed and kept to a minimum
• Introducing industry best in practice controls and processes for cash processing and credit control.

Systems improvements

• Proactively support in the requirements definition of system implementations (new and in flight).
• Proactively support on changes to existing systems as well as impact analysis for changes to other systems up and downstream.

Internal and external audit

• Actively support any audits, providing evidence and explanations to conclude any audit requirements.

Skills and Experience Specification: The successful candidate will require knowledge and experience gained through working for an Insurance/Reinsurance Syndicate, Company or Broker.

• Experience in leading and managing a Credit Control function
• Experience, knowledge and understanding of the Insurance/Reinsurance Market from a Lloyd's, Company or broker market perspective
• Ability to learn and adapt in a dynamic environment
• Methodical approach to problem solving and decision making
• Capable of applying knowledge and experience in different situations
• Ability to influence and guide self and others to reach and maintain a Best in Class team
• Customer focus and service mentality
• Self-motivated, can-do attitude and pro-active mindset
• Works well as part of a team and on individual tasks
• Focus on execution and timely delivery of quality outputs
• Strong verbal and written communication skills
• Strong computer skills - knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint
• Work collaboratively across different teams and functions working with key stakeholders to achieve common goals
• Support development of team members through acting as positive role model

Essential Skills and Qualifications:

• Qualified Accountant - minimum 5 years post qualified
• Experience of working with multiple systems
• Advanced Excel
• Insurance experience
• Database experience

Desirable Skills:

• General Ledger: PeopleSoft

What We Offer The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.

Keywords : London jobs

Closed Date : 2025-02-16