Assistant Manager

UK Technical Accounting Process Journey

1. UK Brokers and Closing

This is the data intake phase, where multiple data sources are received daily for various insurance lines. These include:

• - Documents & Messages: Bordereaux, EBOT messages, internal debit notes, broker invoices, etc.
• - Systems & Sources: Bureau LUL/ILRMA, MMT, Pool-re Terrorism, Central Settlements.
• - Purpose: To gather all relevant financial and transactional data from brokers and other sources.

2. Validation, Verification & Assessment

This stage ensures data integrity and completeness:

• - Validation: Against the legacy system (Open-Co).
• - Tasks:
• - Bordereau manipulation and loading.
• - Tax breakdowns (UK/ROW and FOS).
• - FRA & GRUVA loading.
• - Liaison with brokers, operations, and credit control for missing or inconsistent data.

3. Administration & Processing

Focuses on accurate data entry and stakeholder communication:

• - Premium Entry: Into OpenCo with detailed breakdowns (tax, currency, settlement dates).
• - Follow-ups: With brokers on unclosed risks.
• - Record Keeping: For audit compliance.

4. Settlement

• - Cash Discrepancies: Coordination with credit control to resolve and chase outstanding premiums.

5. Documentation Issuance, Reporting, Control Checks

Ensures compliance, reporting, and governance:

• - Data Storage: Proper archiving of all documents.
• - Monitoring:
• - Daily tracking of unclosed risks.
• - Audit data preparation.
• - Tax report reviews.
• - Endorsement and booking report checks.
• - KPI and email management.
• - Governance: Weekly status updates, monthly reviews, and workflow management.