Head of Finance Operations

About us

HDI is a Corporate & Specialty Insurer part of the Talanx Group. With over 120 years of experience, HDI operates across five continents, around 40 countries and employs over 5,000 people worldwide.

The role

To be accountable for the Technical Accounting function and team, leading a team of c.20 staff and directly managing team leaders. The role will provide regular reporting to senior management on premium collections and outstanding premiums. The individual will work effectively and collaboratively with the finance leadership and other functional heads to ensure the effective running of the financial operations function.

• Oversee the credit control function to ensure aged debtors and unallocated cash are kept to a minimum.
• Ensure accurate booking of bordereaux for Delegated business.
• Take primary responsibility for the operation of updating and managing broker accounts in underwriting systems and managing the process to ensure financial security is obtained prior to business being transacted.
• Produce various management reports and analyses of the ledger balances, cash, etc. as required.
• Be a centre of excellence on underwriting systems.

Key accountabilities

• Recruit, train and motivate team members to ensure the effective running of the technical accounting function.
• Establish strong working relationships with the operations, underwriting, distribution and claims teams to reduce errors from Xchanging and improve their involvement in pursuing overdue debtors.
• Capacity manage the team around peak periods of transactions and develop the team to improve procedures and controls.
• Drive corrective action where required in the booking process to display the required change in output in the financial results.
• Performance manage the team, identify training needs and facilitate the provision of training.
• Ensure the team adhere to and deliver on the daily and monthly targets set and excel in their performance to provide efficient and effective demonstration of credit control.
• Production of operational KPIs to assist in the capacity management of the team and monitor performance.
• Be actively involved in market initiatives through networking and market meetings and ensure alignment with HDI processes and system changes.

Operations

• Ensure the Technical Accounting ledgers accurately reflect insurance transactions for premium, claims and cash balances; and that these balances are understood and reconciled.
• Review outstanding EPI pipeline monthly to ensure it is appropriate to hold as a debtor.
• Effectively administer Xchanging error handling across Premium and Claims across all business transacted through the UK.
• Allocate cash receipts on a timely basis.
• Ensure timely reconciliation of balances with brokers, HGN, captives and reinsurers.
• Request all necessary payments promptly and ensure they are properly documented.
• Provide Dashboards (Xchanging errors / outstanding balances) to Class underwriters monthly and ensure any queries / issues raised are resolved efficiently.
• Issue Notices of Cancellation where required (as agreed with Underwriters).
• Understand binder administration and build processes to effectively administer the booking and settlement of any new binder business.
• Meet IPT and EEA regulatory reporting requirements.

Process Improvements

• Strive for continuous improvement and increased efficiency in the team bringing the branches together and ensure that best practices are shared, embedding improvements where required.
• Understand the systems landscape, particularly the interface into General Ledgers from Policy Admin systems and the impact actions taken in policy admin systems will have on the overall financial technical results.
• Work with the Distribution team to ensure that all brokers, captives and clients are receiving the highest level of service.
• Participate in projects or other initiatives designed to improve the effectiveness or efficiency of the finance area.

Skills & experience

• Experienced in managing similar sized teams.
• Insurance industry experience, specifically London Market.
• Detailed London Market & Xchanging knowledge.
• Knowledge of Captives, International Programmes and Reinsurance.
• Ability to work under pressure and to tight deadlines.
• Problem Solving.
• Delivery & Accountability.
• Collaborating with others.

Other

As an equal opportunities employer, we are committed to creating an inclusive environment for all employees, recognising that a diverse and inclusive workplace is a creative and prosperous one.

If you require support with your application, please contact UK&.