Reporting to the Credit Control Manager, this role maintains accounts and secures payments on an assigned group of delinquent accounts for selected high-volume producers and complex accounts by means of telephone, correspondence, or personal contact. Maintains complete and accurate financial records. Prepares standard financial statements and reports. Develops basic reports and maintains ledgers.
Responsibilities
Credit Control Operations
Daily review of receipts and payments postings to debtor’s ledger, ensuring they balance with the cash book
Daily identification of un-allocated cash (receipts) and payments in the debtor’s leger
Review of monthly leger and statements – prepare exceptional report and identify write offs, and overdue premiums
Meet weekly collection targets and refer problem accounts to the department managers
Refer defaulting accounts to lawyers to institute legal action or to debt collectors after approval by the credit committee
Ensure the monthly Withholding Tax and annual returns are prepared
Convene the war room and follow up action plans, distribute and explain data to the Underwriting department managers
Recommend to the credit committee which producers should have their credit facility withdrawn
Liaise daily with underwriters on queries raised by the producers
Monthly review of bad debts and provisions
Ensure debtors leger is properly aged and is in agreement with the GL
Check and review broker’s commissions monthly, ensure that the paid commissions are allocated
Ensure that only licensed brokers are paid commissions
Audit & Compliance
Ensure adherence to Credit Control Policy and Procedures
Ensure adherence to Adherence to L2SOS, Accounts Receivables SLA
Ensure adherence to Cancellation / Dunning procedures
Ensure adherence to audit requirements
Ensure adherence to regulatory and compliance requirements
Qualifications
Experience
Undergraduate degree in finance or related field
Professional qualification : CPA (K) or ACCA or Diploma in Credit Control
COP or Diploma in insurance will be an added advantage
Skills/Competencies
Relevant insurance industry experience
Practical exposure to credit control accounting and preparation of producer statements
Good communication skills (both written & oral) and interpersonal skills to effectively work with different departments
Strong analytical, planning and organization skills
Proven ability to perform well under pressure and regularly meet strict deadlines a fast-paced environment
Excellent spreadsheet skills (Excel)
Time Management: Ability to handle multiple priorities, organize work and meet deadlines
Attention to detail: Maintain accuracy of work
Communication: Effective communication skills at all levels of business
Strong team player
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