Average Iba Technician salary in the UK

An opportunity to join a growing Lloyd's MGA. Key responsibilities will include allocation of receipts and payments, supporting the team's month end close process by preparing IBA journals, leading credit control for the divisions, preparing statements of accounts, bank reconciliations, producing and submitting bordereaux, claims fund reconciliations and payments, resolving queries, performing client/premium money reconciliations to draw down commission, analysing commission collections, and identifying areas of improvement. The successful candidate will have IBA experience and excellent communication, teamwork, and prioritisation skills. Also you will be proficient with Excel (Pivot Tables, Vlookups). Our client is committed to diversity in all of its forms and operates an inclusive recruitment process.

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

IBA Technician required to join a growing professional finance team. Assist in managing the financial transactions between insurers and clients, ensuring accurate and timely processing of payments and reconciliations.Responsibilities: Processing client and insurer transactions, including receipts and paymentsPerforming bank reconciliations and ledger maintenanceInvestigating and resolving any account discrepanciesCredit control and ensuring timely collections, and outstanding paymentsLiaising with Brokers, Insurers, and internal teamsSupporting month-end reporting and financial controlsEnsuring compliance with FCA and company financial regulations Ideally be experienced in an IBA, accounts, or finance role within an insurance or brokerage environmentKnowledge of insurance finance processesStrong attention to detail and ability to work in a fast-paced environmentConfident communicator with excellent numerical skillsProficiency in Microsoft Excel and other financial tools This position offers hybrid working, excellent salary and extensive and flexible benefits package. If you have the relevant experience within this area and would like to be considered for this position then please submit your CV for the Hiring Managers attention. The Recruiter Insurance Specialists are acting as a Recruitment Agency