Reconciliation Officer – Bancassurance
Are you a go-getter, ambitious
and positive minded individual who fits the role profile captured below? Then
you are the one we are looking for to take up the above mentioned role.
The Role:
Reporting to Finance
Manager, the Reconciliation Officer will be responsible for the review of
monthly underwriter reconciliations of premiums and commissions, ensuring
operational efficiency by booking all insurance business, 100% premium
collection from client and subsequent payment to underwriters. The role holder
will also ensure adherence to insurers credit policy on premiums payable and
timely collection of commission receivable hence contributing to the smooth
running of the day-to-day activities in the finance and accounts department.
Key Responsibilities:
• Review of monthly
underwriter reconciliations for premiums and commissions and ensure that all
reconciling issues are resolved on a timely basis
• Preparation of bank
reconciliations and ensuring reconciling issues are properly addressed and
closed
• Ensure that all commissions receivables and premiums receivables are collected on timely basis
• Monitoring individual
Banc assurance officers outstanding debt portfolio
• Recovery of insurance
commissions from payments done directly to the Underwriter/Insurance company
• Ensuring adherence to
insurer credit policies as stipulated in the respective Underwriter SLAs
• Approve payment receipts
in the system
• Process payments to
underwriters on the agreed timelines and as per the SLA
• Generating of payment
schedules to underwriters
• Generate and share
client statements with premium balances
• Follow up IPF
disbursement with credit department
• Maintain post-dated
cheque register and ensure banking of cheques held is done on the due date.
• Ensure compliance with
both external and internal regulatory requirements, i.e. Bank, IRA, CBK
guidelines.
• Ensure compliance with
the Data Protection laws, policies and procedures of the Bank.
• Compliance with AML/CFT
laws and ensuring KYC is done for all clients.
• Provide recommendations
for improving procedures and systems for initiating corrective actions.
• Proposing internal
control measures in order to minimize exposure i.e. liaising with underwriters
and banc assurance officers to correct errors in the system.
• Participate in
preparation of financial reports and assisting with year-end audits and other
reviews by providing relevant schedules and documents.
• Ensure closure of Audit
issues raised within the Finance Department.
• Preparing outstanding
premiums reports per Banc Assurance Officer/Branches.
• Preparing outstanding
premiums reports per Insurer.
• Recovery of insurance
commissions from payments done directly to the Underwriters/Insurance company.
• Ensure implementation
and compliance with operational policies and procedures, i.e. IRA, CBK &
AML Policy.
• To assist in enforcing
credit control and debt collection.
• Ensure excellent
customer service and all queries related to Finance Department are attended to
as per the stipulated TAT & SLA.
• To communicate and
liaise with both internal & external clients and assist in handling finance
related communications where need be.
• Please note that your
job description may be subject to change from time to time in line with the
Bank’s strategic direction.
• Any other official duty
that may be allocated by the line manager from time to time.
The Person:
The ideal candidate must
possess the following qualifications:
• Bachelor’s degree in
BCom (Finance/ Accounting)/ Business Management Banking and Finance/ Business
related field.
• CPA Finalist will be an
added advantage.
• Ms office proficiency
certificates.
• Knowledge in accounting
and finance.
• Insurance Industry
knowledge in Finance Operations or preferably within Banc assurance
Intermediary Model and has proficiency in the use of Banc assurance and
accounting systems.
• At least 2 years’
experience in insurance industry, preferably in Banc assurance.
Key Competencies and
Attributes:
• Able to spot weakness in
internal controls
• Builds networks and
maintains strong relationships
• Able to manage and
influence others to achieve results
• Has passion and drive to
achieve results under difficult circumstances
• Pleasant and able to
relate well in diverse social set ups and teams
• Upholds high standard of
Professionalism, integrity and respect for others
• Capable of working both
independently and as part of a team
• Have a strong attention
to detail
• Be results oriented
• Have strong proactive
problem-solving skills
How to Apply
ALL applicants MUST apply
online to the email; recruitment@familybank.co.ke; closing date is 20th January 2023. Canvassing
will automatically disqualify the candidate. Only shortlisted candidates will
be contacted.
“We are an equal
opportunity employer”
