Payments Manager & Financial Accountant

A unqiue opportunity has arisen to join a prestigious and long established insurance company in the City.  

Overall Job Purpose:      Allocation and supervision of work assigned to the Payments Section of 
the finance department to ensure service levels are met and that accounting records are completed accurately and in a timely manner.

-    Update rates of exchange on a weekly basis in accordance with company procedures.

-    Monitor manual journal entries to check for correctness.

-    Monitor daily interface entries from the underwriting and claims systems to Oracle Financials, reporting any failures to the I.T, department as soon as possible.  To maintain a record of all claim and underwriting interfaces.

-    Ensure all transactions and cash are correctly posted and reconciled.

-    Ensure that all accounting transactions are correctly authorised.

-    Ensure bank statements are reviewed on a daily basis in order that receipts/payments are quickly identified and allocated and that any irregular receipts/payments are investigated immediately and reported to the Finance Director.   

-    Ensure recovery estimates are up to date for the purposes of management reporting.

-    Ensure Pool claim reports are prepared for management reporting.

-    Produce management reports when required.

-    Ensure member reimbursements, broker commissions, claim handling fees, claims and overheads are paid correctly and in a timely manner.

-    Monitor the daily cash list report to ensure bank balances and availability of funds are correctly reported and that any imminent large payment is included in expected outflows.

-    Train, evaluate, monitor and motivate team members to improve effectiveness.

-    Conduct appraisals of team members.

Candidates must have a Banking or Insurance background and proven experience managing a Payments division and broader accounting operations.