Collections Controller at Sanlam Group

Job Purpose

The main purpose of the position is to maximise the collection of monthly premium income – as well as managing the age analysis, allocating to the relevant policies and attending to queries. The position is also accountable for the monthly reconciliations for its relevant portfolio.

Formal Qualifications

• Finance/Accounting qualification preferred

Knowledge and Experience

• Minimum of 2 years’ experience in high volume corporate Collections environment, preferably in insurance industry
• Computer Literacy - Microsoft Excel Skill is critical
• Collections procedures & accounting knowledge
• Experience with MIP system will be an added advantage

Key Performance Areas

Collections

• Ensure that the correct premium due is collected using all methods of collection.
• Ensure that the premium received is in line with the expected rates and number of members.
• Allocate all premiums received to the correct schemes, and also ensure that premium is allocated at member level.
• Ensure that the correct pre-debit (expected premium income) is raised and adjustments are reflected accurately so that the overall debtor’s book reflects the correct balances.
• Provide exceptional and considerate customer service to policy-holders and other stakeholders.

Age Analysis

• Monitor the age analysis for the respective portfolio.
• Ensure that the debtors on ageing do not exceed 60 days.
• Initiate the process to write-off long-outstanding debts.
• Follow up on all outstanding debtors and ensure that proof of follow up is documented and retained.
• Investigate any discrepancies on the age analysis and communicate the resolution with the relevant stakeholders.
• Ensure that all the required documentation is prepared for the cancellation of schemes.
• Provide a weekly report on the status of the age analysis and the progress on follow-ups.
• Send arrear letters on monthly basis and follow up by contacting the client (via telephone, email, sms etc.) where appropriate

Reconciliations

• Ensure that monthly reconciliations are prepared for all schemes.
• Provide explanations for all reconciling items and follow up on long-outstanding reconciling items.

Relationship Management

• Ensure that you build and maintain relationships with both external and internal stakeholders, these include;-
• Debit Order Collection Brokers/ policyholders.
• All Internal departments with special emphasis to (IT/MIP, Membership department, Branches, Compliance department).
• Ensure that an accurate log of interaction is kept of issues that exist with each stakeholder.
• Secure broker visits to address credit control issues, where and when necessary.
• Assist on Automation Projects.
• Support project Implementation from internal stakeholders.
• Set up meetings with your internal departments to ensure regular communication and common understanding of credit control issues.

Query Management

• Ensure that all queries are attended to within the prescribed SLA (to be provided to you at onboarding).
• Ensure all brokers/schemes are kept abreast at all times regarding the status of their query.
• Ensure that proper investigations are done with the concerned departments and that there are SLA’s in place.
• Ensure that Root Cause Analysis (RCA) is performed on all queries.

Refunds

• Initiate refunds based on client requests and membership data.
• Adhere to refunds processes by preparing refunds with correct supporting documents.
• Ensure that clients/all stakeholders are kept up to date with the refunds status.
• Record refunds on the system.

Audit and Compliance

• Ensure adherence to Credit Control Policy and Procedure
• Ensure adherence to regulatory and compliance requirements
• Ensure adherence to audit requirements (both internal and external audit).

Skills and Behavioural Competencies

• Time management skills – ability to handle multiple priorities, organize work and meet deadlines
• Attention to detail.
• Strong Administrative and personal organizational skills
• Strong team player
• Strong problem-solving skills
• Excellent communication skills (both verbal and written)
• Commitment to exceptional customer service