Assistant Manager
- EXL
- 4 - 8 years
- Pune
- 2 months ago
- Email to a friend
- Report this job
Job Description
Group Insurance
Sub Group Insurance
Organization Insurance Finance & Accounting
LOB Back Office
SBU Operations
Country India
City Pune
Center IN Pune SEZ C25
Skills
Skill
MS Excel Good Commuincation Reconciling Reports Reporting Skills Transaction Processing Query Resolution GDPR London Market Insurance
Minimum Qualification
Bcom MBA
Certification
No data available
Job Description
Job Purpose
The Assistant Manager for BDX Processing and LPAN Creation will oversee the accurate processing of Bordereaux data and ensure the timely creation of LPANs. This role will involve supporting the team with day-to-day tasks, managing workflows, and ensuring compliance with industry standards. Additionally, the Assistant Manager will work closely with other departments and external partners to resolve discrepancies, streamline processes, and improve data quality and efficiency in BDX and LPAN workflows.
Key Responsibilities
BDX (Bordereaux) Processing Oversight
1. Supervise and review the processing of Bordereaux data from coverholders and brokers, ensuring accuracy, completeness, and compliance with market standards.
2. Support the team in analyzing and reconciling premium and claims Bordereaux data, identifying discrepancies, and resolving issues.
3. Maintain and update records in the Bordereaux management system, ensuring accuracy and easy accessibility for internal stakeholders.
4. Ensure all BDX processing aligns with regulatory standards, including GDPR, and company policies.
LPAN (London Premium Advice Note) Creation Oversight
1. Oversee the creation and submission of LPANs, ensuring that all premium and claims transactions are accurately recorded and compliant with London Market requirements.
2. Collaborate with brokers and underwriters to gather and verify necessary information, ensuring LPAN accuracy and adherence to deadlines.
3. Supervise the reconciliation of LPAN records with internal systems, managing discrepancies and troubleshooting issues as they arise.
4. Ensure all LPAN submissions are completed on schedule, reducing delays in premium collections and claims settlements.
Team Support and Development
1. Assist the Manager in leading, training, and mentoring team members on Bordereaux processing and LPAN creation tasks, fostering a high standard of accuracy and efficiency.
2. Act as a point of contact for team members with complex BDX and LPAN queries, providing guidance and solutions.
3. Conduct periodic performance reviews and support team development, ensuring alignment with company goals and standards.
4. Allocate tasks and resources effectively within the team, balancing workloads to meet deadlines.
Process Improvement and Reporting
1. Identify areas for improvement in BDX and LPAN workflows and contribute to the development and implementation of solutions to increase efficiency.
2. Collaborate with IT and other teams to enhance systems supporting Bordereaux processing and LPAN creation.
3. Generate regular reports on BDX and LPAN processing status, highlighting issues, risks, and improvement areas for senior management.
4. Stay updated on industry changes, including regulatory updates and best practices, ensuring the team remains compliant and efficient.
Cross-Functional Collaboration
1. Work with underwriting, finance, and operations teams to improve data integrity and process flows for both BDX and LPAN processing.
2. Engage with brokers, coverholders, and clients to address questions, discrepancies, or concerns related to Bordereaux submissions or LPANs.
3. Coordinate with the credit control team to support timely premium collections and ensure alignment on debt management goals.
Skills and Qualifications
1. Education: Bachelors degree in Finance, Business, Accounting, or related field preferred.
Experience:
Minimum 5+ years of experience in Bordereaux processing and LPAN creation, preferably within the London insurance market.
Previous experience in a supervisory or team lead role is advantageous.
Technical Skills:
Proficiency in systems used for BDX and LPAN processing, such as Xchanging/IMR or similar.
Advanced Excel skills for data analysis and reconciliation.
Attention to Detail:
High level of accuracy and attention to detail, especially when handling large volumes of data.
Communication Skills:
Strong verbal and written communication skills to interact effectively with both internal teams and external partners.
Other Requirements:
Knowledge of UK insurance market practices, including regulatory requirements.
Ability to work under pressure, manage priorities, and meet deadlines.
Key Performance Indicators (KPIs)
1. Accuracy and timeliness of Bordereaux data processing.
2. On-time LPAN creation and submission rates.
3. Improvement in team performance and efficiency.
4. Reduction in BDX and LPAN discrepancies.
5. Quality and insightfulness of reports generated for senior management.
Job Classification
Industry: Software ProductFunctional Area / Department: Finance & AccountingRole Category: Accounting & TaxationRole: Accounts ManagerEmployement Type: Full timeContact Details:
Company: EXLLocation(s): Pune+ View Contact
Keyskills: Assistant Manager
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