POSITION OVERVIEW:

Seeking a self-motivated professional to assist with collections. This position will work within a dedicated Collections Team as part of the Finance Operation Organization.

PURPOSE and SCOPE:

The Collection Officer is responsible for coordinating the various activities associated with billings and the collection of unpaid premiums.

RESPONSIBILITIES:

• Timely collection of premiums to comply with the credit term of the insurers and to achieve zero bad debt.
• Exercise independent judgment while developing an understanding of functions, policies, procedures, and requirements needed for Collections.
• Establish a good working relationship with the clients and principals via direct calls, emails, or client visitations, for the purpose of collecting delinquent and problematic accounts and bringing to final closure past due amounts.
• Prompt resolution of client payments including refunds and unapplied cash receipts.
• Regular collaboration with the Marketing groups to resolve billing and service-related problems and disputes within target timelines.
• Identify and analyze delinquent accounts and prepare a monthly report to management as needed on aging, collection, and highest-risk accounts including recommendations for resolution.
• Regular reconciliations with clients and principals on unpaid premiums to maintain accurate/up-to-date accounts records which will be used for reference and audit purposes.
• Utilize technology and industry-leading practices in the monitoring, payment processing, and collection of past-due account receivables and identify process improvement opportunities.
• Actively participate in projects and new tasks including system development, enhancements, upgrades, or business-related projects related to the billing and collection systems to add value to the business and support strategic business initiatives.
• Good communication with internal and external clients, both written and verbal with our goal of providing excellent client service.
• Maintain, update, and submit reports to senior management and supporting documentation for accounts extending credit terms.
• Perform other duties that may be assigned from time to time and at the discretion of Management.

REQUIREMENTS:

• Education: Bachelor’s Degree in Accounting or Business Management.
• Experience: 1 to 4 years of accounting-related experience preferably in the insurance industry.
• Special Skills:
• Proficiency in Microsoft Office, accounting software, and other computer programs.
• High level of accuracy and work ethic.
• Strong analytical and problem-solving skills and keen attention to detail and ability to multitask.

RELATIONSHIPS:

Internal: Management and staff of the Company

External: Principals, clients

Note: This is not necessarily an exhaustive list of all responsibilities, skills, duties, and requirements associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or require that other or different tasks be performed when circumstances change.

Please refer to job description.