Average Iba Technician salary in City of London

Job Title: IBA TechnicianLocation: City of LondonSalary: £38,000 plus excellent benefitsWorking Pattern: Full Time Hybrid - 2 days office a week plus remote workingJob Type: IBAClass of Business: Accounting About the Role A hugely successful and fast growing insurance broker has an opportunity for someone to join as an IBA Technician. The role of the IBA Technician will be to work alongside the current IBA Team to achieve the timely and accurate collection, processing and onward payment of settlements to all Trading Partners as well as support the Head of IBA and Global COO with any ad-hoc projects. The role will also involve supporting the Head of IBA in a successful transition from the current broking system Atlas to new broking system Open Twins. Key Responsibilities To ensure the preparation and reconciliation of IBA accountsTo work closely with the IBA Team to perform credit control proceduresTo ensure all outstanding accounts are chased appropriately and timelyTo ensure receipt of funds are reconciled within agreed timeframesTo ensure disbursements are reconciled within agreed timeframesTo check and agree daily IBA reportsTo work closely with the IBA Team in UK and North AmericaTo escalate issues to Head of IBA where necessaryBe responsible for the collecting of premiums and claims to ensure that uncollected brokerage and or outstanding debt is in line with agreed company proceduresAssist with the IBA Team to clear any unmatched cashTo raise any queries with the relevant Account Handler in a timely mannerPerform a review of your IBA credit control accounts with the required Management Team on an agreed timely basisTo be able to assist with training of other users in the London Office. Key Skills & Experience The business is seeking someone with current insurance finance or IBA experience, who has strong communication skills both written and verbally with accurate attention to detail. You should be able to demonstrate drive and self-motivation to achieve results with a general willingness to be flexible in work habits and assigned tasks. You should have the ability to learn and share knowledge and to identify, recognise and escalate critical issues for resolution. All applicants must have a permanent right to work in the UK

I am excited to support my client with a new vacancy created by their continued growth. They are seeking an enthusiastic and driven individual to join their expanding IBA team in London on a permanent basis. This is a fantastic opportunity to become part of a rapidly growing international network. The ideal candidate will be detail-oriented, proactive, and comfortable managing multiple tasks. Key Accountabilities Analyse bank receipts and payments, ensuring accurate and timely processing of related entries in the company accounting systemReconcile cash receipts and payments with accounting entries, meeting agreed processes and deadlinesProcess payments to clients (premiums and claims), markets, and third parties via the company’s online banking system, ensuring deadlines are met for client satisfactionAssist in preparing IBA bank reconciliationsResolve foreign currency and exchange issues as neededLiaise with clients, markets, and internal stakeholders (written and verbal) to promptly address queries and provide resolutionsCreate standard and ad-hoc accounting reports as requiredMaintain the query log by documenting notes on outstanding issues and agreed actionsManage credit control, including the prompt creation and distribution of client, underwriter, and third-party statements Skills & Knowledge Strong communication and interpersonal skillsExperience in producing management accounts and related reportsOrganised with the ability to prioritise and re-prioritise in a constantly changing environmentIntermediate Microsoft Excel skills and experience with financial software/applicationsPrevious experience in a commercially focused IBA function, ideally within the global corporate (re)insurance sectorAccurate with strong attention to detail and the ability to effectively manage IBA documentation

Job Title: Reinsurance TechnicianLocation: City of LondonSalary: £50,000 - £60,000 DoE plus excellent benefitsWorking Pattern: Full Time - 2 days a week office based in London & Remote WorkingJob Type: TechnicianClass of Business: Reinsurance About the Role A leading Lloyd's broker has a fantastic opportunity for a Reinsurance Treaty Processing Technician. You will be responsible for providing an efficient and effective Technical Processing service to the business whilst adhering to Regulatory, Risk and Compliance requirements. Key Responsibilities Complete Treaty Processing requests on Broking system accurately and within the SLAsProduce accurate and complete client and market documentationProcess Lors entries (Lloyd’s Outwards Reinsurance System)Assess and process premium, claims and treatyMaintain the status of processing requests within the SLA tracking toolFile relevant documentation electronically as per the agreed structures and standardsUndertake a checks ensuring all processing errors are highlighted to the relevant Premium TechnicianLiaise with clients, underwriters, business units and Insurance Business Accounts (IBA) to resolve queries Key Skills & Experience The client is seeking someone with experience in a similar role with knowledge of reinsurance treaties across claims & premiums. Knowledge of LORS, ECF and a bonus would be Eclipse. You should be able to communicate effectively with clients, brokers, underwriters and colleagues both verbally and in writing. The client is seeking someone who possesses excellent time management and prioritisation skills with the ability to build relationships. You should be accurate and have excellent attention to detail. All applicants must have a permanent right to work in the UK