Group Insurance Broking Accounts Administrator (12 month FTC)

To provide dedicated support to the JMG Group central IBA team on a temporary, 12-month basis, facilitating the accurate settlement of client premiums to insurance providers within strictly defined parameters, authority limits and internal procedures, whilst maintaining compliance with FCA CASS 5 requirements. The primary focus is to reduce outstanding ledger items through effective reconciliation, timely settlement and a high degree of query investigation and resolution, working closely with insurance providers and internal teams to resolve discrepancies and progress outstanding matters. The role supports the businesses, processes and PAS (Policy Admin System) operating systems utilised across the JMG Group of companies. This is a temporary position, not a permanent appointment, requiring diligence, accuracy and sustained commitment throughout the full 12-month term. Achievement of agreed KPIs will attract a performance-related bonus, with a separate end-of-contract bonus payable on completion of the full 12-month term, recognising commitment to the role and delivery of high-quality work.

Key performance indicators:

• Ensure all Key Performance Indicators are achieved and are attained compliantly with FCA CASS5 regulation

Compliance:

• Ensure client money is handled, and reconciled in accordance with FCA regulation and internal procedures, as detailed in the Compliance Manual and departmental process workflows
• Complete CPD and all assigned Dev-Zone training modules to deadlines achieving the 80% required pass and structed CPD hours
• Work within your appropriate Level 1,2 or 3 competency limits at all times
• Be aware of the company’s Compliance Manual process workflows and ensure full compliance to the procedures contained within the manual. Specifically ensure a full understanding of the following chapters.
• Handling Client Money
• Financial requirements
• Complaints
• Training and Competence
• TCF

Security:

• Report any potential and known breaches, including weaknesses in current systems, to your line manager or senior officer of the business in a timely manner
• Take corrective action as necessary to resolve
• Ensure personal data (client and employee) is secure, held and properly utilised in accordance with the principles of the Data Protection Act.

Specific to I-Rec – underpinned by competency levels 1, 2 & 3

• To ensure accounts are settled within the agreed credit terms and in accordance with the FCA CASS rules
• Referring any commission adjustments over prescribed group tolerance levels for review and referral code to override (Acturis PAS only)
• Commission differences in excess of prescribed limits are referred back to handlers/brokers for a system re-debit, ensuring client ledger and insurer ledger contras are matched and correct line item settled to the insurer (all PAS)
• The reconciliation of statements, involving identifying discrepancies and conducting a high level of problem solving.
• Commission reconciliation in lieu of premium settlement
• Dealing with queries from insurance companies.
• Dealing with internal referrals and queries.
• Populate payment files ready for cashbook upload to banking platforms and validation in accordance with payment processes and dual authorisation reviews
• Accurately process and maintain company business accounts.
• Manage own accounts and raise any concerns with reporting line manager or technical level 3 team member
• Identify and report to line manger any procedural or CASS5 breaches, log them on internal system with supporting evidence and satisfactory correction

Other:

• Any other duties as required.