Insurance Premium Recovery Specialist
4 weeks ago
Position Overview
The role is pivotal in enhancing the collections operations and elevating successful recovery rates, ultimately contributing to the overall profitability of the organization.
The Collections Specialist will oversee the relationship with collections partners and manage the operational processes associated with collections.
This position also entails maintaining relationships with banking institutions and ensuring compliance with regulations set forth by the Payments Association of South Africa and banking authorities.
Key Responsibilities
• Formulate and execute effective strategies for collections.
• Conduct monthly analyses of collection data to identify trends and implement improvements to operational processes.
• Prepare and present monthly reports detailing collection activities, performance metrics, and trends to senior leadership.
• Collaborate with various departments, including finance, sales, and customer service, to optimize collection processes and improve overall efficiency.
• Review and revise collection policies and procedures to ensure adherence to regulatory standards.
• Ensure compliance with all applicable collection and banking laws and regulations.
• Manage communication and administrative functions with collections partners.
• Oversee the transactional banking relationship and operational activities with banking partners.
Qualifications and Requirements
• Education: Bachelor's degree in Finance or a related field.
• Experience: Minimum of 5 years in electronic collections within the financial services sector, with exposure to the insurance industry considered advantageous.
• Skills: Strong analytical abilities to assess data, identify trends, and derive actionable insights.
• Attributes: Detail-oriented, highly organized, with a commitment to enhancing collection success rates.
• Technical Proficiency: Familiarity with collection software and Salesforce CRM systems.
• Knowledge: Comprehensive understanding of debt collection laws, regulations, and industry best practices.
We appreciate your interest in this opportunity.
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