Job Title: European Credit Control Manager Department:Operations Division:Business Support Location: One of our European Offices Type:Permanent Role of Department The European Cash & Credit Control department in Europe is a key operational department in the region. It is responsible for the following:

  • Collection, reconciliation and allocation of cash receipts across the Europe Region.
  • Effective Credit Control across the Europe Region.
  • Oversight and management of overdue debt levels within appropriate Service Levels.
  • Establishing and leveraging internal/external relationships to maintain cashflow and keep overdue debt within acceptable levels.
  • Ensuring that processes are consistent and that thresholds are met.
  • The Europe Region team is resourced from local operational teams and Liberty Specialty Markets global outsourcing partner. The function is accountable to the European Head of Operations/COO directly. Key Responsibilities Cash Collection & Allocation

  • Oversight and ownership over the end-to-end cash collection and allocation processes for Europe.
  • Consistent and defined processes to better manage cash flow between leaders and followers for our co-insurance portfolio.
  • Managing allocation processes as part of extended team with our strategic outsource partners, using KPIs and SLAs to manage performance.
  • Root cause analysis and correction of any misallocated cash issues, implementing process improvements if/where required.
  • Implementation and oversight of monthly insurer and broker statements to support cash collection cycle.
  • Ensure all payment documentation is stored according to record keeping guidelines to meet audit requirements.
  • Establish market relationships to establish best practice cash allocation activity and deliver exceptional customer service.
  • Effective management of cash queries, collaborating with other functions and stakeholder groups including underwriters, claims, brokers and booking teams to resolve issues.
  • Credit Control & Debt

  • Oversight and ownership of the credit control and debt processes and keep debt within agreed thresholds.
  • Ongoing action plans for the reduction of overdue debt volumes/values.
  • Continuously improve oversight and processes to review and investigate overdue premium debt, effectively tracking actions across multiple functions and partners to ensure positive outcomes. (includes external brokers/co-insurance leaders)
  • Identify booking improvements which impact on cash & debt processes and collaborate with underwriters and data entry teams to implement.
  • Manage and establish clear plans to clear outstanding premium for closed years of account, drive team plans to clear and close these years off.
  • Set and deliver clear debt targets across the Europe Region and ensure Year on Year progress.
  • Ensure that all identified issues are documented, and root cause analysis is converted to solutions.
  • Customer Services

  • Establish/maintain good market relationships directly with brokers and co-insurers to help manage the flow of cash and management of debt.
  • Work to standardize broker and commission statements where possible, including the use of unique identifiers to better support internal processes.
  • Meet with Brokers where required to discuss and help drive payment performance.
  • Regular meetings with internal stakeholders (underwriters, underwriting operations, distribution teams, finance and group functions)
  • Regular meetings with country managers to ensure alignment and transparency.
  • Reporting & Data

  • Co-Ownership of reporting, data and analytics associated with cash allocation and debt for the Europe region.
  • Business partner with the central MI team to help define, design and test improvements to existing reports and new reports/tools as required.
  • Function as the conduit to the reporting team on behalf of the Europe cash & credit control function, ensuring that all members of the team are familiar with reports and use them frequently to drive daily activity.
  • Calibrate KRIs with the Credit Risk Team and explain any issues as required.
  • Assist with the analysis and presentation of data for the Company business as required.
  • Deliver operational metric reporting for all internal business stakeholders including clarity on all SLAs and KPIs.
  • Leadership

  • Line management duties for local teams and via our outsourcing partner.
  • Cash & Credit Control governance in the region.
  • Collaboration with other managers and functions regionally and globally to ensure successful outcomes.
  • Work with the regional Head of Operations/COO to ensure that the Cash & Credit Control Function is managed effectively within the operations function of the Europe region.
  • Manage/drive day-to-day activities, service delivery and output of the Cash & Credit Control teams.
  • Hold regular team and individual meetings.
  • Ultimately responsible for cash allocation volumes and values.
  • Ultimately responsible for debt targets and clearance rates.
  • Ultimately responsible for successful query management.
  • Manage the Outsourcing contract & ensure teams are meeting agreed KPIs and SLAs.
  • Manage metrics and communication to all business units and stakeholders.
  • Build the brand, ensure that visibility of function/team and escalation processes are identified, and communicated to the business.
  • Team/Department development

  • Continuously develop the Cash & Credit Control risk framework & governance structure.
  • Ensure personal development plans for team members are appropriate and help refine the skills required for Cash & Credit Control activities in the future.
  • Work with COO to refine the functions value proposition and guiding principles.
  • Set realistic but ambitious service level agreements and performance indicators within the team.
  • Take a lead as subject matter expert and sponsor on any key change activities that are in place relating to the regional function.
  • Align regional function to support central and group (GRS/GRSI) ambitions.
  • Frequent individual meetings to discuss the development of team and function.
  • Professionalism

  • Manage all Audit related queries that relate to Credit Control and ensure confident and accurate resolution/implementation.
  • Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM’s commitment to placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include Solvency.
  • Skills and Experience

  • Significant Cash Allocation & Credit Control Experience in European & Company insurance markets.
  • Considerable experience in insurance markets.
  • Experience in a leadership role.
  • Team Management experience.
  • Strong Stakeholder management skills.
  • Data Manipulation and Analytical skills
  • Advanced Excel & MI tools.
  • Understanding of basic financial reporting.
  • Working knowledge of source systems.
  • Fluent in English and local language is essential 
  • About Liberty Specialty Markets (LSM) Liberty Specialty is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets. Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

  • Offering a vibrant and inclusive environment and committing to their career development.
  • Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
  • Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
  • A supportive culture, which includes promoting a healthy work-life balance and working flexibly.