Job Description

Built on meritocracy, our unique company culture rewards self-starters and those who are committed to doing what is best for our customers.

Claims Finance Administrator (Insurance)

Department

Claims Finance / Finance

Reporting To

Claims Finance Manager / Claims Finance Business Partner

Job Purpose

The Claims Finance Administrator supports the financial management of insurance claims by ensuring accurate processing, recording, and reporting of claim-related financial transactions. The role plays a key part in maintaining robust financial controls across claims payments, reserves, recoveries, and reinsurance, ensuring compliance with internal policies, delegated authorities, and regulatory requirements.

Key Responsibilities

Claims Financial Processing

• Process and validate claims payments, including indemnity, fees, and expense payments, in accordance with policy terms and delegated authority limits
• Ensure accurate posting of claims costs, reserves, and recoveries within claims and finance systems
• Monitor payment requests to ensure appropriate approvals, coverage checks, and documentation are in place
• Support the processing of salvage and subrogation recoveries

Reserving & Reconciliation

• Assist in the setup, maintenance, and review of claim reserves in line with reserving guidelines
• Reconcile claims transactions between claims systems, general ledger, and bordereaux (where applicable)
• Investigate and resolve discrepancies in claims balances, suspense accounts, and aged items

Reinsurance & Third Parties

• Support reinsurance recoveries, including excess of loss and quota share arrangements
• Assist with the preparation and review of reinsurance bordereaux and statements of account
• Liaise with brokers, reinsurers, TPAs, and third-party suppliers to resolve finance-related queries

Month-End & Reporting

• Support month-end and quarter-end close processes, including accruals, journals, and variance analysis
• Produce regular claims finance reports, such as paid vs reserved analysis, large loss tracking, and aged recoverables
• Provide financial data to support actuarial, underwriting, and management reporting

Controls, Audit & Compliance

• Ensure claims financial activity complies with internal controls, SOX (where applicable), and regulatory requirements (e.g. FCA / PRA)
• Assist with internal and external audits by providing supporting documentation and reconciliations
• Maintain accurate and auditable claims financial records

Process Improvement & Administration

• Maintain high-quality documentation and data within claims management systems
• Identify opportunities to improve claims finance processes, controls, and reporting
• Act as a key point of contact for finance-related queries from claims handlers and operational teams

Skills & Experience

Essential

• Experience in a claims finance, insurance operations, or financial administration role
• Strong numerical skills with high attention to detail and accuracy
• Experience working with claims management systems and financial ledgers
• Good knowledge of Microsoft Excel, including basic reconciliations and data analysis
• Ability to work effectively in a regulated and deadline-driven environment

Desirable

• Experience in general insurance, London Market, or commercial insurance
• Understanding of claims reserving, reinsurance structures, and recoveries
• Exposure to actuarial or underwriting data and reporting

Qualifications

• AAT qualification or working towards a professional finance qualification (ACCA, CIMA, or equivalent) desirable
• GCSEs (or equivalent) including Maths and English

Personal Attributes

• Detail-oriented, organised, and methodical
• Strong communication skills with confidence to challenge and escalate where appropriate
• Ability to work collaboratively across claims, finance, underwriting, and actuarial teams
• High standards of integrity and confidentiality

Working Arrangements

• Hybrid or office-based working
• Flexibility required during month-end, quarter-end, and year-end close processes

We are an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.