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Loss Fund Optimisation Analyst

Vitesse PSP

Vitesse PSP

IT
England, UK
Posted on Thursday, June 20, 2024
The Team

The Solutions team is responsible for managing clients and related third parties through their implementation journey with Vitesse. Sitting within Vitesse's Commercial function it has a vital, strategic role in delivering on the company's ambitious growth targets.

The team function is multifaceted with one aspect being the management and delivery of projects to onboard existing client funds set aside to facilitate insurance claim payment activity. Loss Fund Optimization is a service that we offer to our insurance customers to enable them to streamline their data, recover cash from any dormant funds and migrate those that remain to the Vitesse platform. The role of the Loss Fund Manager sits within this Solutions team function.

What is loss fund optimization?

Loss fund optimization is a critical service that is embedded into Vitesse's core offering. There are circa $100m sitting idle in legacy accounts across the market. Deploying capital effectively and efficiently is critical in the current climate; loss fund optimization plays a pivotal role in achieving this for our customers. In addition, as part of this process we are able to sanitise an insurers end-to-end data to enable them to take full advantage of the digitalisation of the insurance market.

Your Mission

As a Loss Fund Optimization Analyst, you will be responsible for delivering across the company's key priorities, which are outlined below:

  • Supporting business development and relationship management to sell the service
  • Assist Solutions Managers in the end-to-end implementation process (internal and external stakeholders)
  • Work closely with TPAs and Brokers to obtain, analyse and validate insurer data
  • Make Recovery, Migration and Optimization recommendations based on analysis of the Loss Fund data. Include and record justifications for recommended actions
  • Manage all TPA and Broker engagement and communicate clearly with the Insurer
  • Provide first rate reporting to Insurers to monitor and evaluate project status
  • Support the Finance team in the invoicing process for the recovery of funds


About Us

Formed in 2014 by a team of proven FinTech entrepreneurs, we are an FCA-regulated business providing global claim funds management and payment solutions. Operating one of the largest banking and payment settlement networks in the world, we give our customers direct access to 200 countries and currencies. Through a single integration, insurers can use this network to pay claims in as fast as 45 seconds and deliver a superior claimant experience. Our market-leading treasury proposition provides insurers with transparency and control over their claim funds, even when delegated to third-parties, allowing them to have their money in the right place, at the right time, to make that all-important payment when customers need it most.

With over 175 employees across our London headquarters, Europe, and the US, $93m Series C funding secured, and exceeding £10bn in processed transactions, we are only just getting started.

We are collaborative, customer centric and work with integrity, whilst partnering with some of the biggest insurance leaders including Lloyd's of London and Many Pets. We take huge pride in our company culture, ensuring that everyone has a part to play, an opportunity to be heard, be involved, and the ability to make a real difference. As we continue to scale up, we want like-minded humans to join us on this exciting journey. Are you ready?

We are an Equal Opportunity Employer

We are committed to creating an inclusive environment that enables everyone to perform at their best, where we recognise the rights of all individuals to mutual respect and where there is an unbiased acceptance of others. Our policies and practices aim to promote an environment that is free from all forms of Unfair discrimination and values the diversity of all people. At the heart of our policy, we seek to treat people fairly and with dignity and respect.

Requirements

  • We are looking for a personable, hardworking, logical and diligent candidate with 2-4 years' experience in an analytical role.
  • Experience in the payments or insurance industry (London Market) is beneficial.
  • Knowledge in the use of London Market systems (Velonetic) for claims payment administration whilst not crucial would be seen as highly advantageous.
  • The successful candidate will be an excellent communicator and have the ability to manage multiple workstreams effectively.


Benefits

  • 25 days Holiday per year + Bank Holidays
  • Hybrid working arrangements
  • Contributory pension scheme
  • Enhanced Parental leave
  • Cycle to Work Scheme
  • Private Medical Insurance
  • Access to Mental Health Therapy
  • Discounted Gym membership
  • Financial Coaching with Octopus Wealth
  • 2 days of volunteering leave per year
  • Sabbatical after 5 years' service
  • Ongoing Learning and Development to support you reach your career goals