Bill to Cash - IEFP internship
WTW · Lisbon
About Us
WTW is an award-winning advisory, broking, and solutions company that supports clients worldwide in transforming risk into opportunities for growth. With a rich insurance heritage dating back to 1828, from the Titanic in 1912 to the Moon Buggy in 1971, WTW brings deep industry expertise and longstanding experience. Our WTW Regional Delivery Center, based in the heart of Lisbon, brings together a strong global team of more than 400 colleagues who deliver operational excellence every day through innovation and streamlined, efficient solutions.
The Opportunity
From day one, you will be assigned your own responsibilities, giving you exposure to client assignments and enabling you to build up valuable experience and skills. You will have opportunities to gain exposure to different aspects of our business and will be able to gain a solid understanding of what we do and how we do it.
What will you do?
- Assist in reviewing account ledgers to identify outstanding payments due to insurers, clients, sub-brokers and other relevant parties.
- Support the preparation of payment documentation and supporting evidence to facilitate the accurate allocation of funds.
- Assist in reconciling insurer statements with WTW’s accounting records, investigating and resolving discrepancies where necessary.
- Support the review of outstanding ledger balances and the processing of small balance write-offs and offsets in accordance with established accounting guidelines.
- Assist in monitoring and resolving outstanding or uncleared payments, including uncashed cheques.
- Respond to queries and requests from internal teams, field offices and insurance partners in a timely and professional manner.
- Follow established Standard Operating Procedures (SOPs), client and insurer requirements, and applicable statutory and regulatory guidelines.
- Contribute to identifying opportunities for process improvements and supporting initiatives to enhance operational efficiency.
- Assist in recording commission transactions against the relevant clients and insurance policies, based on documentation received from insurance companies.
- Collaborate with Client Managers and insurance companies to investigate and resolve discrepancies and unallocated cash.
- Support the timely processing and clearance of return commissions payable to insurance companies, helping to minimise the risk of potential penalties.
- Develop knowledge of accounting processes, financial controls and insurance operations while working closely with experienced team members