DUA Credit Control Analyst

Title:

DUA Credit Control Analyst

Company:

Everest Advisors (UK), Ltd.

Job Category:

Underwriting

Job Description:

About Everest:  
Everest Group, Ltd. (Everest), is a leading global reinsurance and insurance provider, operating for nearly 50 years through subsidiaries in North America, Latin America, the UK & Ireland, Continental Europe and Asia Pacific regions. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Our most critical asset is our people. We offer dynamic training & professional development to our employees. We also offer generous tuition/continuing education reimbursement programs, mentoring opportunities, flexible work arrangements, and Colleague Resource Groups.  

About the role:

We are seeking an experienced and detail-oriented Delegated Underwriting Authority (DUA) Credit Control Analyst to play a critical role in our Credit Control team. This position is pivotal in managing and optimizing the income generated from delegated underwriting arrangements, particularly focusing on the financial performance of binders. The ideal candidate will have a deep understanding of the London Market, particularly around DUA processes and binder management, and will be responsible for the accurate reconciliation and collection of premiums.

In this role, you will be responsible for monitoring the financial performance of binders, from Estimated Premium Income (EPI) to Written and Paid Premiums, ensuring the accurate calculation and collection of outstanding debts. You will work closely with the DUA team, underwriters, finance, and senior management to present accurate debtor positions, identify areas of concern, and implement strategies to mitigate credit risk. This is a high-visibility role, requiring strong analytical skills, proficiency in data analytics, and the ability to present complex financial information in a clear and concise manner.

This role not only involves rigorous debt management and reporting but also a proactive approach to improving processes and systems within the credit control function. You will be expected to drive efficiencies, reduce bad debt exposure, and ensure that premium collections are timely and accurate, thereby safeguarding the company's financial interests.

Key Responsibilities:

• Binder Income Management:
  • Oversee the financial tracking and management of binder income, ensuring accurate alignment between Estimated Premium Income (EPI), Written Premiums, and Paid Premiums.
  • Regularly review and reconcile the binder income data to establish the correct outstanding debt position, ensuring that all discrepancies are identified and resolved promptly.
  • Work closely with the DUA team and Coverholders to monitor premium payments, ensuring that income targets are met and that the company's cash flow remains healthy.

• Debt Collection and Risk Mitigation:
  • Take ownership of the debt collection process, identifying overdue accounts, and working closely with Coverholders to secure prompt payment.
  • Develop and implement strategies to minimize the debtor position, focusing on reducing the risk of bad debt and ensuring that credit risks are effectively managed.
  • Conduct regular reviews of credit risks associated with each binder and take appropriate actions to mitigate potential losses.

• Reporting and Analysis:
  • Prepare and deliver detailed and accurate reports on debtor positions to various committees, senior management, and stakeholders.
  • Present findings in meetings, clearly articulating the financial status of each binder, highlighting any concerns, and providing actionable insights to address underperformance.
  • Utilize advanced data analytics tools to identify trends, inefficiencies, and opportunities for improvement within the credit control process.
  • Regularly update and refine reporting metrics to ensure that they provide meaningful insights into the financial performance of binders and delegated authorities.

• Collaboration and Communication:
  • Serve as the primary liaison between the Credit Control team and other key stakeholders, including the DUA team, underwriters, finance, and senior management.
  • Foster strong relationships across departments to ensure that credit control objectives are aligned with the overall business strategy and that information is shared effectively.
  • Provide expert advice and guidance on binder debt management, ensuring that all relevant parties are informed of the financial performance and risks associated with delegated underwriting agreements.

• Process Improvement and Efficiency:
  • Continuously review and improve credit control processes to enhance efficiency, reduce manual workloads, and ensure the timely and accurate collection of premiums.
  • Implement best practices in credit control and debt management, leveraging data analytics to streamline operations and improve financial outcomes.
  • Lead initiatives to upgrade or refine existing systems and processes, ensuring that they meet the evolving needs of the business and support the effective management of binder income.

• Stakeholder Management and Committee Participation:
  • Actively participate in key meetings and committees, providing insights into the debtor position and contributing to strategic decision-making processes.
  • Collaborate with senior management to develop and implement policies and procedures that enhance the company's credit control function and reduce exposure to bad debt.

Required Skills and Experience:

• Experience:
  • Extensive experience in credit control within the London Market, with a particular focus on Delegated Underwriting Authority (DUA) agreements and binder management.
  • Demonstrated ability to manage large and complex portfolios, with a track record of reducing debtor positions and mitigating credit risks.
  • Experience in presenting financial data and analysis to senior management and decision-making committees.

• Technical Skills:
  • Strong proficiency in data analysis, with advanced Excel skills (pivot tables, VLOOKUP, etc.) and experience using other analytics tools.
  • Familiarity with financial reporting systems and software used within the London Market.

• Communication:
  • Excellent communication and presentation skills, with the ability to explain complex financial information clearly and persuasively.
  • Strong relationship-building skills, with the ability to collaborate effectively across departments and with external partners.

• Attention to Detail:
  • High level of accuracy and attention to detail in all aspects of financial management and reporting.

• Problem-Solving and Process Improvement:
  • Strong analytical and problem-solving abilities, with a proactive approach to identifying issues and implementing solutions.
  • Experience in process improvement, with a focus on enhancing efficiency and effectiveness in credit control operations.

Education:

• Bachelor’s degree in Finance, Accounting, Business, or a related field, or equivalent experience.

What We Offer:

• A dynamic and supportive work environment.
• Opportunities for professional growth and development.
• Competitive salary and comprehensive benefits package.
• The chance to work with a leading syndicate in the Lloyd’s market and a reputable London Market company.

Type:

Regular

Time Type:

Full time

Primary Location:

London

Additional Locations:

N/A