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Senior Binder Technician

Location
London
Salary
£40,000 to £45,000
Job Type
Permanent
Posted
7 Sep 2022

Job Title - Senior Binder Technician

Contract - Permanent

Salary - £45,000 + Package

Location - London

Industry - Insurance

The main responsibilities are:

  • to ensure the complete and accurate handling of all the company's Binders and Facilities including third party Coverholders,
  • the submission of open market payments to/from the bureau.

Key tasks and responsibilities:

  • Preparation of the Binder MRC's, and any future endorsements to adjust the terms.
  • Full office back up on the Binders/ Lineslips including opening Accounts , setting up the policies and Bordereaux templates.
  • Submission of the Coverholder agreements to the Lloyds regulatory department.
  • Preparation of Risks bound Bordereaux and Payment Bordereaux in line with terms of the Binder, and submission to Underwriters.
  • Monitoring submissions of the monthly Bordereaux and chasing up any that are late. Liaising with Accounts to ensure collection of Premiums approaching the due date.
  • Working with Accounting and processing teams to identify transactions that are payable to/from the bureau market.
  • Effective handling and resolving of binder, open market and accounting queries. Comply with the FCA principles for firms and individuals. Keep up to date CPD requirements and personal Training record.
  • To actively participate in the company Performance Management Process. To agree personal performance objectives and goals during appraisal and make every effort to satisfy these objectives within the specified timeframe.

Knowledge Required:

  • Underlying principles of Insurance
  • Legal Principles "Insurance Law" "Law of Agency" "Law of Contract"
  • FSA rules and regulations
  • Clear understanding of colleagues roles and the overall running of the Company
  • Binding Authority Knowledge
  • Xchanging knowledge
  • Knowledge of company procedures relating to Treating Customers Fairly, Money Laundering and Conflicts of interest

Skills Required:

  • Use of judgement and experience in the Binding Authority Management.
  • Organising and prioritising skills
  • Ability to develop and sustain professional relationships with both internal and external stakeholders
  • Ability to work under pressure and flexibility when necessary. Being mindful of

peak periods that relate to your work.

  • Willingness to keep up to date with changes to regulations and legislation as appropriate.
  • Ability to appreciate and demonstrate knowledge of cultural differences and customs.
  • Highly Developed negotiating skills
  • High Level of numeracy.
  • Confident and efficient telephone manner.

IT skills:

General familiarity with:-

  • Microsoft Word
  • Microsoft Excel
  • Microsoft Outlook
  • London market IT systems e.g. Websure,
  • Brokasure
  • Lloyds Coverholder Systems Xchanging systems

For a full brief please contact one of our specialist consultants:-

Tel:

Email:

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Details

  • Job Reference: 706199850-2
  • Date Posted: 7 September 2022
  • Recruiter: Lawes Consulting Group
    Lawes Consulting Group
  • Location: London
  • Salary: £40,000 to £45,000
  • Sector: Engineering
  • Job Type: Permanent