Binding Authority Technician

Binding Authority Technician

Specializing in Binders / bordereaux / BDX, you will manage the detailed, periodic reports (bordereaux) that outline risks, premiums, and claims for delegated authority or reinsurance business. You will ensure accuracy, handle data mapping and validation, reconcile payments, mainly using Excel, to process data between coverholders and carriers.

Key Responsibilities of a Bordereaux Technician:

• Data Processing: Review, clean, map, and upload premium and claims bordereaux into internal databases.
• Reconciliation: Reconcile bordereaux data against payments to ensure financial accuracy.
• Quality Control: Identify and escalate inconsistencies, errors, or missing data in reports.
• System Management: Manage, update, and maintain records within binder management systems.
• Communication: Coordinate with internal stakeholders and external coverholders regarding submission, queries, and corrections.

Skills and Requirements:

• Technical Proficiency: Strong Excel skills (vlookups, pivot tables) are crucial.
• Industry Knowledge: Understanding of the MGA / Insurance market, particularly delegated authority, reinsurance, or binder management.
• Attention to Detail: High accuracy in handling large datasets.
• Experience: Previous experience in a similar role is usually required, with full training on offer and a sold career path outlined.