IBA Specialist
Kansas City, United States of America
Finance and Accounting
2401IR
Working at Lockton
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
Business unit
Lockton Management, LLC
Schedule
Full-time
Job type
Standard
Workplace
Hybrid
Your Responsibilities
Responsible for Insurance Brokerage Accounting (IBA) activities. An Insurance Broker is an intermediary who sells,
solicits, or negotiates insurance with an insurer on behalf of their client (insured) for compensation. IBA is the
accounting transactional Team that ensures client monies are accurately and timely applied to Agency Bill
(fiduciary), Direct Bill, or Fees. IBA also ensures client fiduciary monies are remitted accurately and timely to
insurers. In FY24, the US IBA Team processed over $14 billion dollars in cash transactions. The Associate should
have the ability to work and operate effectively within a fast-paced, complex, and dynamic organization.
Responsibilities include:
- Reconcile direct bill commissions to agency management system(s)
- Resolve unapplied carrier and client monies received.
- Reconcile fiduciary payments to insurers.
- Remit return premiums to clients.
- Reconcile multi-entity client payments for large insurance placements.
- Review and provide timely feedback to GFSC (Global Finance Service Center).
- Meet all deadlines in accordance with the dates set by management.
- Ensure compliance with all accounting department policies and procedures.
- Suggest new process improvements.
- Complete special projects as requested.
- Participate on project teams focused on accounting or organizational initiatives.
Skills
- Professional behavior: Represents the company in a reputable, ethical, and businesslike manner and
complies with company operating procedures and requirements. - Ability to remain engaged and focused. Excellent communication skills. Ability to problem-solve.
- Attention to detail and accuracy a must.
- Must be proactive with strong customer service skills, critical thinker, problem solver, able to be
resourceful, organized, and detail & team oriented. - Proficiency with computers and Microsoft Excel, Word, and Outlook.
- Ability to handle various tasks simultaneously under high pressure and within demanding time
constraints. - Consistently reports for work as scheduled, on-time and ready/able to perform job responsibilities.
- Proven ability to interact with all individuals within the organization and be able to communicate
information to customers and vendors. - Discipline to follow Standard Operating Procedures.
- Team player able to build trust and prove dependability.
- Aptitude to be cross-trained and contribute.
Qualifications
- Bachelor’s degree in Business/Accounting/Finance/Insurance/Technology or equivalent
education/experience - Insurance industry experience preferred
- Strong technical ability including advanced Excel skills
- Able to prioritize heavy, time sensitive workloads with the ability to meet aggressive deadlines
- High degree of professional communication and tactful negotiation skills with the personal presence
to interface with all levels of associates
Equal Opportunity Statement
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
About Lockton
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.
At Lockton, we believe in the power of all people. You belong at Lockton.
How We Will Support You
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
No Agencies Please
Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.
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