Credit Controller

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Please see our website for more information.

Credit Controller (Lloyd's London Market)

We are currently looking for a Credit Controller to work with us on a full-time basis in London, reporting into the Head of Premium Debt Management.

You will be a team member in the Underwriting Business Management Division responsible for premium credit control, which includes monitoring premium, reporting, processing and analysing of the business underwritten by the managed Syndicates and other related Group companies (dual stamp) on a day-to-day basis.

To understand Lloyd’s Minimum Standards regarding appropriate credit control and management procedures for the collection of premium.

To assist with monitoring all premium payments and ensure they are received within agreed credit terms. To undertake the processing and administration of credit control transactions so that credit control targets are achieved.

To support the central Premium Debt management process and ensure that it operates efficiently and effectively, that objectives are being met and to assist as the central point of contact between underwriters, brokers and relevant 3rd parties.

To support appropriate working relationships to improve premium debt performance. 

Responsibilities:

• To support the Premium Debt team with the MRSG Credit Control processes and the management of accurate premium data on a daily basis including:

1. Production, analysis and investigation of aged debtor balances on a regular basis
2. Chase, resolve, negotiate and reconcile aged debt accounts and balances with brokers to enable the business to maintain an accurate record of its outstanding premium position
3. Be involved and ultimately take control of more complex reconciliations
4. Liaise closely and provide such detail to Underwriters to ensure that any premium queries and errors can be resolved quickly. Including escalation as appropriate
5. Work closely with the Underwriting teams to develop and improve the management of premium credit control within each team
6. Monitor premium payments received through the relevant policy administration systems
7. Respond to and take ownership of internal queries
8. Be aware and understand relevant KPI’s
9. Interface with underwriters and other relevant teams / individuals within the group

• Improve existing operational analysis of results and trends for premium payments and monitor EPIs and verify and ascertain more accurate data regarding unpaid premium
• Ensure all processes are documented effectively
• Manage tasks within agreed timetable including booking relevant review meetings with team management
• Critically appraise all processes and assumptions on an ongoing basis with a ‘continual improvement outlook’ and proactively engage with relevant stakeholders to improve where opportunity exists
• Assist in other areas of the team and provide effective cover where appropriate as assigned
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Proven experience of working in Credit Control
• Previous experience in Lloyd’s London market beneficial
• Previous experience in Insurance essential

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious