Key Responsibilities:
Review of monthly underwriter reconciliations for premiums and commissions and ensure that all reconciling issues are resolved on a timely basis
Preparation of bank reconciliations and ensuring reconciling issues are properly addressed and closed
Ensure that all commissions receivables and premiums receivables are collected on timely basis
Monitoring individual Banc assurance officers outstanding debt portfolio
Recovery of insurance commissions from payments done directly to the Underwriter/Insurance company
Ensuring adherence to insurer credit policies as stipulated in the respective Underwriter SLAs
Approve payment receipts in the system
Process payments to underwriters on the agreed timelines and as per the SLA
Generating of payment schedules to underwriters
Generate and share client statements with premium balances
Follow up IPF disbursement with credit department
Maintain post-dated cheque register and ensure banking of cheques held is done on the due date.
Ensure compliance with both external and internal regulatory requirements, i.e. Bank, IRA, CBK guidelines.
Ensure compliance with the Data Protection laws, policies and procedures of the Bank.
Compliance with AML/CFT laws and ensuring KYC is done for all clients.
Provide recommendations for improving procedures and systems for initiating corrective actions.
Proposing internal control measures in order to minimize exposure i.e. liaising with underwriters and banc assurance officers to correct errors in the system.
Participate in preparation of financial reports and assisting with year-end audits and other reviews by providing relevant schedules and documents.
Ensure closure of Audit issues raised within the Finance Department.
Preparing outstanding premiums reports per Banc Assurance Officer/Branches.
Preparing outstanding premiums reports per Insurer.
Recovery of insurance commissions from payments done directly to the Underwriters/Insurance company.
Ensure implementation and compliance with operational policies and procedures, i.e. IRA, CBK & AML Policy.
To assist in enforcing credit control and debt collection.
Ensure excellent customer service and all queries related to Finance Department are attended to as per the stipulated TAT & SLA.
To communicate and liaise with both internal & external clients and assist in handling finance related communications where need be.
Please note that your job description may be subject to change from time to time in line with the Bank’s strategic direction.
Any other official duty that may be allocated by the line manager from time to time.
The Person:
The ideal candidate must possess the following qualifications:
Bachelor’s degree in BCom (Finance/ Accounting)/ Business Management Banking and Finance/ Business related field.
CPA Finalist will be an added advantage.
Ms office proficiency certificates.
Knowledge in accounting and finance.
Insurance Industry knowledge in Finance Operations or preferably within Banc assurance Intermediary Model and has proficiency in the use of Banc assurance and accounting systems.
At least 2 years’ experience in insurance industry, preferably in Banc assurance.
Key Competencies and Attributes:
Able to spot weakness in internal controls
Builds networks and maintains strong relationships
Able to manage and influence others to achieve results
Has passion and drive to achieve results under difficult circumstances
Pleasant and able to relate well in diverse social set ups and teams
Upholds high standard of Professionalism, integrity and respect for others
Capable of working both independently and as part of a team
Have a strong attention to detail
Be results oriented
Have strong proactive problem-solving skills
go to method of application »
ALL applicants MUST apply online to the email; recruitment@familybank.co.ke; closing date is 20th January 2023. Canvassing will automatically disqualify the candidate. Only shortlisted candidates will be contacted.“We are an equal opportunity employer”
Apply via :
recruitment@familybank.co.ke
