Premium Technician (Binding Technician)

PositionPremium Technician (Binding Technician)

LocationLondon

Reporting toCredit Control Team Leader and Senior Binding Technician

Job Summary

Nexus Underwriting Management Ltd is seeking to hire an organised and proactive PremiumTechnician who will be working closely with the Credit Control Team Leader and rest of the Finance team, Underwriting Support team and Brokers preparing and reconciling all premium bank accounts and Bordereaux. As an MGA, Nexus predominantly is an underwriting business. However, over the years the added value of being able to place its own binders (and those of its partner businesses) has reinvigorated the function of the Lloyd’s/placing broker.

About the role

Working within a Placing Broker function within a larger MGA model, this role has accountability for ensuring all finance information is accurate and produced in a timely and efficient manner, including endorsements, LPANs, Binding Authority Agreements etc.

About Nexus Group

Nexus Underwriting Ltd is the largest independent specialty Managing General Agent (MGA) in the London market. We believe in the ability and potential of all our people and are committed to helping them reach their full potential and future career aspirations by providing a motivational and encouraging work environment.

Principal Duties/Responsibilities

Allocating receipts and payments posted, investigating differences and liaising with the technical team and brokers;
Responsible for the balancing of cashbooks for bank accounts;
Reviewing bank reconciliations on a daily basis and dealing with queries;
Maintaining and monitoring the Insurers / Binder log on a regular basis;
Producing all appropriate documentation, including Market Reform Contracts, endorsements, cover notes and evidence of cover and ensure that they adhere to the standards set from time to time by the London Market;
Producing and submitting LPANs;
Processing invoices and accounting entries, processing market closings via Xchanging and managing Binding Authorities and/or line slips as required;
Reviewing, monitoring and resolving technical questions from Xchanging, clients, markets, credit control, claims and the business unit, to ensure that the client’s best interests are maintained;
Obtaining agreement to premium bordereaux, where required;
Producing and forwarding documentation to Lloyd’s/LIRMA market via A&S;
Preparation of Binding Authority Agreements (knowledge of ATLAS and BARS);
Weekly calculation and draw down of Nexus income to be monitored and reported in line with the individual binder agreements;
Working closely with the technical divisions to perform credit control functions;
Ensuring outstanding accounts are chased where necessary by email, and telephone for UK and overseas clients according to Company procedures;
Responsible for the management and reporting of aged creditors and unallocated cash;
Preparing the Monthly Premium Paid Bordereaux;
Agreement and settlement of the bordereaux; including investigating queries and amendments with the technical teams;
Maintaining compliance with any applicable UK or International statutory or regulatory obligation as required;
Ensuring that Nexus Brand & Values, code of conduct and policies is adhered to at all times both within the workplace or at other external events;
Refer any matter beyond the level of an individual’s experience or authority to their line manager;
Completing a minimum of 15 hours of continuous professional development annually.

Required Qualifications, Skills, Knowledge, Experience

Qualifications

Ideally educated to an undergraduate degree, but as a minimum A'Levels with strong results in English and Mathematics

Skills

Enthusiastic and hardworking individual with a focus of providing the best possible service
Able to work effectively and collaboratively with others both internally and externally
Adaptable and able to manage multiple tasks within a high pressured environment, including working to tight deadlines
High attention to detail in producing a quality output, accurate record keeping
Presentable, with excellent communication skills (both written and verbal)
Desire to find solutions to problems and keen to learn and challenge the status quo
Commercial awareness partnered with a strategic mind-set
Ability to build trust by operating with integrity and professionalism
Experience in delivering client-focused solutions and in creating long-lasting relationships
Excellent negotiation skills
IT literate, must have good working knowledge of all Microsoft Office packages

Knowledge & Experience

Practical hands-on experience in a similar role working in MGA or similar environment
Knowledge of the Financial Services sector
Use of market systems - IMR, ECF / Class
Excellent reading and understanding of Slip & Endorsement placements

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To apply for this position please Contact: Helen Saar

Contact Email: hsaar@nexusunderwriting.com

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