Role Description
We are seeking an experienced Senior Credit Officer to lead and optimize our efforts in recovering payments from insurance companies. The ideal candidate will have a deep understanding of insurance collections strategies, strong negotiation skills, and the ability to build and maintain effective relationships with insurers. This role is crucial in achieving collection targets, meeting key performance indicators (KPIs), presenting collection status updates weekly, maintaining detailed records of all negotiations and agreements, and coordinating with the Billing department.
Key Duties and Responsibilities
Collections Management:
Implement and lead the insurance collections process to ensure timely and accurate recovery of payments from insurance companies.
Develop and implement strategies to improve collection rates and reduce outstanding balances.
Achieve collection targets and meet KPIs as set by senior management.
Lead and support the collections team
Negotiation:
Negotiate terms and settlements with insurance companies to maximize recovery while maintaining positive relationships.
Address and resolve disputes with insurers in a professional and effective manner. Keep written records of all agreements with the insurance companies
Relationship Building:
Build and maintain strong relationships with key contacts at insurance companies.
Act as the primary point of contact for insurers, fostering a collaborative approach to resolving payment issues.
Performance Monitoring:
Analyse collection performance metrics together with the Finance Manager to identify trends and areas for improvement.
Prepare and present weekly reports on collections activities and outcomes to senior management, detailing progress towards targets and KPIs.
Record Keeping and Documentation:
Create and update files for each insurance company, including all relevant information and documentation, as well as written records of all communications, negotiations and agreements with insurance companies.
Compliance and Risk Management:
Ensure all collections activities comply with relevant laws, regulations, and company policies.
Identify and mitigate risks associated with insurance collections operations.
Coordination with Billing & Insurance Compliance:
Work closely with the Billing & Insurance Compliance
Manager to ensure an optimal process and manage any issues that might affect the company’s collection efforts negatively. Coordinate to ensure accurate and timely invoicing and collections
Requirements
Bachelor’s Degree in Finance, Accounting, Business Administration, or a related field from a recognized institution.
Professional
Certification such as CPA, ACCA, or a similar qualification will be an added advantage.
3+ years of experience in credit management and collections.
Proven experience in handling insurance collections and negotiations within the Kenyan healthcare sector is a MUST
Strong understanding of the healthcare industry, particularly in the context of healthcare, and familiarity with insurance company operations in Kenya.
Relationship Building: Proven ability to build and maintain strong relationships with insurance company representatives.
Strong Negotiation Skills: Ability to negotiate effectively with insurance companies to maximize recovery of payments.
Attention to Detail: High level of accuracy in maintaining detailed records of negotiations and agreements.
Apply via :
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