Claims Finance Administrator

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.