Job description and person specification

Exciting opportunity to join Beazley’s Finance Operations division. We are looking for a Senior Accounting Operations Analyst - Group Payment Processing.

Who We Are

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to provide beautifully designed insurance, innovating to give our clients the maximum benefit with minimum hassle.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We employ over 1,500 people globally, hosting a wonderful diversity of cultures, experiences and backgrounds. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that’s big on collaboration, diversity of thought & personal accountability.

Our three core values inspire the way we work and how we treat our people & customers – 1) Be bold 2) Strive for better 3) Do the right thing. Upholding these values every day has enabled us to become an innovative and responsive organisation in touch with the changing world around us – our ambitious L&D & Sustainability targets are testament to this.

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as iLearn (our own learning & development platform), LinkedIn Learning, our mentorship program and external qualification sponsorship. As a Beazley employee, you also get access to our fantastic array of benefits which include commuting reimbursement, free in-office lunch, six months parental leave and a lifestyle allowance, amongst many others.

Job Title: Senior Accounting Operations Analyst – Group Payment Processing

Division: Finance Operations

Reports To: As per Beazley’s organization chart

Key Relationships: Internal: Group Payment Processing Manager and Team, Head of Accounting Operations, Finance Leads and Teams, Controllers , Claims Teams, UCO Teams including Claim Payments and Vendor Management Teams, Compliance, Information Technology and Business Partners

External: Auditors, TPAs, Insureds, Law Firms, Professional Fee Firms and Consultants

Job Summary: To provide strong analytical, problem solving and technical skills to ensure accurate and timely processing of Claim payments and other payments for all lines of business and areas throughout Beazley while providing excellent customer service and collaboration with both internal and external stakeholders.

Key Responsibilities

§ Meet strict deliverables related to claim and other payments, reconciliations, payment balancing and customer responses

§ Act as subject matter expert and impart knowledge and best practices to colleagues

§ Coordinate the processing of accurate and timely payments of defense, indemnity, and claims expense transactions utilizing various processes depending on the line of business

§ Differentiate between indemnity, defence, and fees to ensure proper recording of transactions in the general ledger

§ Manage the Lloyds and other relevant Bank Account balances and ensure checks and wires are drawn from the right bank account

§ Reconcile payment information to source systems, through to remittance advice

§ Post all claims and payment transactions to the general ledger

§ Manage, coordinate, and oversee the Finance US and UK Claims inboxes and ensure proper completion of requests, queries, and deliverables

§ Coordinate day to day workflow and provide direct support of team; Act as first point of contact for customer inquiries

§ Coordinate TPA relationship management including Cash Calls, Loss Fund Review and Monthly Bordereaux Payments and reconciliations

§ Perform our own Group Payment Processing audit on randomly selected transactions for each payment run to ensure payments are accurate and correctly documented

§ Participate in top tier customer service by being the face to the customer

§ Respond to inquiries from customers and act as subject matter expert

§ Manage and coordinate 1099 process including year-end report generation and documentation

§ Perform due diligence on new vendors to determine validity of vendor as well as 1099 tax status

§ Apply judgment to ensure accurate 1099s tax reporting of claim transactions

§ Coordinate the reconciliation of TPA claims bordereaux for applicable lines of business and research and resolve queries

§ Take lead role in relationship management by working closely with Claim Payment, Vendor Management and Claims Teams to ensure accurate and timely payments and provide premier customer service

§ Coordinate and distribute the Group Claims Material Settlement Notifications, inform all affected parties, and ensure Bank Balances are sufficient

§ Participate in Embedded Invoicing processing, reconciliations and respond to customer queries

§ Troubleshoot system issues for Claim Center / Agresso / AP and follow through to ensure satisfactory issue resolution

§ Organize, manage, and participate in both External and Internal Audits and provide timely and thorough documentation

§ Coordinate and participate in cross training of internal colleagues and on boarding training of new hires

§ Conduct UAT Testing and Reviews for all new products and incorporate new deliverables while maximizing automation

§ Participate in and lead projects and continuous improvement

§ Advance the claim and other payment processes through automation

§ Lead the team by example and be a source of knowledge and direction

§ Fill in for Manager and other team members during periods of absence

§ Work both independently and as a team while prioritizing workload

§ Other Ad-hoc duties when required

General

It is important that in all your interactions both internally and externally you adhere to Beazley’s core values – ‘Being Bold, Striving for Better, and Doing the Right Thing’ - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

§ Comply with Beazley procedures, policies and regulations including the code of conduct

§ Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system

§ Display business ethics that uphold the interests of all our customers

§ Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs

§ Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management

§ Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Personal Specification:

Education and Qualifications

§ General Accounting experience

§ Educated to degree level

Knowledge and Experience

§ Experience working in high paced financial environment

§ General Ledger experience

§ Familiar with accounting principles and concepts

§ Experience working in financial services

§ General Ledger experience

§ Working knowledge of Microsoft Excel

Skills and Abilities

§ Demonstrated analytical skills and diligence

§ Advanced Excel skills

§ Excellent customer service skills

§ Ability to work independently and as a team member

§ Professional communication level (both written and oral)

§ Excellent organization and prioritization abilities

§ Initiative-taking, able to work on own initiative and use problem solving skills to proactively resolve issues

§ Ability to manage time, meet deadlines and prioritize

Aptitude and Disposition

§ High integrity

§ Resolute

§ Enthusiastic

§ Ability to effectively interact with all levels of internal and external colleagues

§ Initiative-taking

§ Outcome focused and driven to succeed

§ Adaptable in fast-moving environment

Competencies

§ Quality / Accuracy Focused

§ Technical Competence / Expertise

§ Collaborator

§ Analytical Thinking

§ Purposeful Communication

§ Time Management

§ Organized

§ Diligence

§ Flexible