Job Summary

The Collection Assistant is responsible for managing and collecting outstanding premium receivables from an assigned roster of intermediaries. You will ensure compliance with the company’s standard operating procedures to maintain up-to-date records and ensure all accounts remain current.

Key Responsibilities

• Active Collection & Relationship Management: Execute daily follow-ups via calls, SMS, and email to achieve collection goals, and conduct quarterly meetings with intermediaries to improve collection rates and strengthen professional relationships.
• Billing & Documentation Oversight: Prepare and distribute monthly statements of account, manage collection/cancellation notices, and monitor returned check payments to ensure all intermediaries are billed accurately and promptly.
• Financial Reconciliation: Reconcile intermediary remittance schedules upon payment and proactively identify unknown deposits to ensure that all premium receivables are accurately applied to the correct policies.
• Operational Monitoring: Approve claims for paid policies within a strict three-day turnaround time and process premium refund requests for cancelled or double-paid policies to ensure seamless service delivery.
• Compliance & Reporting: Update daily collection reports and provide quarterly assessments of account collectibility to assist in the mitigation of risk exposure and bad debt (AFDA) provisioning.

Qualifications

• Education: Candidate must possess a College Degree, preferably in a Business-related course (e.g., Finance, Accounting, Management).
• Skills: 
• Must have collection experience supporting insurance brokers and bancassurance.
• High level of accuracy and attention to detail in financial reconciliation.
• Ability to handle multiple tasks and meet strict monthly deadlines.
• Proficiency in basic office software (Excel, etc.).
• Strong verbal and written communication skills for effective negotiation and follow-ups.

Key Performance Indicators (KPIs)

• Collection Rate: Achieve a minimum collection of 75% of total assigned overdue accounts.
• Report Accuracy & Timeliness: Ensure 100% complete and accurate billing reports, sent on or before the 10th of each month.
• SLA Compliance: Maintain a 1 to 3 working day turnaround time (TAT) for processing claims, returned checks, reconciliation requests, and refund processing.
• Intermediary Engagement: Conduct field visits or structured meetings with a minimum of six (6) intermediaries per quarter.
• Customer Inquiry Resolution: Respond to and resolve client or intermediary inquiries within 24 hours of receipt.