UK Technical Accounting Process Journey 1. UK Brokers and Closing This is the data intake phase, where multiple data sources are received daily for various insurance lines. These include: - Documents & Messages: Bordereaux, EBOT messages, internal debit notes, broker invoices, etc. - Systems & Sources: Bureau LUL/ILRMA, MMT, Pool-re Terrorism, Central Settlements. - Purpose: To gather all relevant financial and transactional data from brokers and other sources. 2. Validation, Verification & Assessment This stage ensures data integrity and completeness: - Validation: Against the legacy system (Open-Co). - Tasks: - Bordereau manipulation and loading. - Tax breakdowns (UK/ROW and FOS). - FRA & GRUVA loading. - Liaison with brokers, operations, and credit control for missing or inconsistent data. 3. Administration & Processing Focuses on accurate data entry and stakeholder communication: - Premium Entry: Into OpenCo with detailed breakdowns (tax, currency, settlement dates). - Follow-ups: With brokers on unclosed risks. - Record Keeping: For audit compliance. 4. Settlement - Cash Discrepancies: Coordination with credit control to resolve and chase outstanding premiums. 5. Documentation Issuance, Reporting, Control Checks Ensures compliance, reporting, and governance: - Data Storage: Proper archiving of all documents. - Monitoring: - Daily tracking of unclosed risks. - Audit data preparation. - Tax report reviews. - Endorsement and booking report checks. - KPI and email management. - Governance: Weekly status updates, monthly reviews, and workflow management.
Job Title
Assistant Manager