Job Openings at ICEA Lion Group

Job Summary

• The Senior Assistant Manager, Credit Control is responsible for developing and enforcing credit control policies and procedures in order to reduce credit risk exposure and improve cash flow

Roles and Responsibilities

• Oversees the credit control section from a strategic view and ensure appropriate strategic decisions to improve collections are out in place.
• Reduce the overall premium debt to an agreed amount and below.
• Managing the company’s debtors’ accounts - of all intermediaries that comprises the debtors i.e. direct clients, agents, and brokers.
• Ensuring that brokers/agents observe the statutory credit period; and collect all premiums due.
• Ensuring all monies due to the company are collected on a timely basis and that the debt level is within statutory requirements
• Scrutinising and dispatching monthly premium statements to all brokers, agents, and direct clients, latest by the 10th of the following month. 
• Handling correspondence from brokers, agents, and direct customers relating to premium collection.
• Paying commission to agents and withholding tax to the Income Tax Department on a regular basis and within the statutory limit. Liaise with underwriters on matters relating to premium collection and account reconciliations.
• Ensuring that all receivable balances are reconciled every month and signed off as a control measure before statements are printed.
• Preparing monthly reports relating to debt collection and liaise with our legal debt collectors where debt collection has been referred to them.
• Ensuring that returns required by various authorities are submitted as required.
• Regularly making contact with intermediaries, ensuring all relevant debts are managed as necessary and also to resolve any queries arising and reconciling where necessary.
• Ensuring company’s policy of cash and carry is adhered to as well as monitoring credit limits issued to various clients.
• Maintaining accurate records of activities of the credit control team in relation to collecting outstanding premium
• Ensuring that proper documents are available for all new intermediaries before an account is opened.
• Overseeing production and issuance of statements for clients as well as reports for auditors and management.
• Producing a monthly report for discussion by the credit committee.
• Proposing changes to the current computerized system and following up with it to ensure that the approved changes are implemented.
• Ensuring credit control databases are updated regularly and maintained with current activity.
• Ensuring all receipts are promptly allocated to respective debtor balances.
• Ensuring that information on policies which are to be cancelled are promptly communicated to the underwriting team.
• Ensuring that all bounced cheques are promptly communicated to underwriting team for policy cancellation.
• Liaise with bank officials in following up of IPF’s and EFT’s processing.
• Ensuring the credit control team regulatory contact debtors by telephone, e‐mail, letters and personal visitations for purpose of collection.
• Verifying Claims Files to ensure premiums are paid before claim is processed.
• Review customer balances to identify any assets that require surrender to the Unclaimed Assets Authority (UFAA) and facilitate the surrender of the same.
• Talent Management
• Supervise, mentor, and coach the credit control team. 
• Encourage teamwork and facilitate job enrichment to involve team members in activities beyond their defined job descriptions.
• Ensure that employee development plans are prepared each year.
• Ensure the annual performance appraisal cycle is complied with.

Requirements

• Bachelor Degree in Accounting, Finance, Economics, Business or related discipline from a reputable university.
• Professional qualification(s) in insurance e.g. ACCA, CPA (K) or equivalent.
• At least five (5) years’ experience in credit management in a busy finance institution preferably a General Insurer
• Must be a self-starter, highly organized, and able to work well with people at all levels in the organization
• Strategic thinking and problem-solving skills
• Analytical and creative thinking skills
• Project management skills
• Good customer relationship management skills (internal and external customers)
• Good communications skills, both written and verbal.
• Self-motivated but able to work as part of a team.
• Good organizational and time-management skills.

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Job Summary

• The Assistant Manager, Credit Control will provide leadership to the credit control team overseeing the agency and direct business in following up on outstanding premiums in a timely manner, and reporting on the performance of allocated accounts against targets on a regular basis and ensuring that the accounts have been updated and reconciled at all times

Roles and Responsibilities

• Carrying out continuous collection of debt balances via telephone and direct visits to corporate, retail, and direct clients and intermediaries while ensuring that we retain business.
• Taking responsibility for the debtors’ book and preparing monthly debtors reports to facilitate decision making.
• Sharing Commercial, Retail, and direct debtors on a monthly basis to the business development and underwriting teams to facilitate collection and appropriate decision making.
• Ensuring that payment terms are kept within the company-approved policy.
• Managing accounts arrears.
• Preparing accounts for management decisions and legal handovers.
• Liaising with the Business Development team on any queries that may facilitate debt collection.
• Carries out account reconciliations on a monthly basis and ensuring that the reconciliations are signed off.
• Supporting the weekly cash flow forecasting and reporting.
• Building relationships between clients, business partners, dealers, colleagues, departments, branches, etc., to enhance the company's capacity to collect debt.
• Ensuring that the receivables system is fully automated at all times to assure efficient debt collection process.
• Offering leadership and development to the credit control team through training and mentorship.
• Ensuring that reconciled client statements are sent out by the 5th of the following month.
• Ensuring that commissions are paid on time.
• Ensuring that withholding tax on commissions are paid on a weekly basis or at such frequency as required by the tax guidelines.

Requirements

• Bachelor’s degree in Accounting, Business Administration, Economics or any other related field.
• Professional qualification(s) in insurance e.g. ACCA, CPA (K), or equivalent.
• Professional training in debt management will be an advantage.
• At least 5 years experience in debt collection, especially in respect of corporate clients and intermediaries
• A good understanding of the Kenyan insurance industry dynamics, with a good network of contacts with key intermediaries in the industry.
• Must be a self-starter, highly organized, and able to work well with people at all levels in the organization
• Strategic thinking and problem-solving skills
• Analytical and creative thinking skills
• Project management skills
• Good customer relationship management skills (internal and external customers)
• Good communication skills, both written and verbal.
• Self-motivated but able to work as part of a team.
• Good organizational and time-management skills.