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  • Posted: Mar 21, 2022
    Deadline: Not specified
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    Since our establishment in 1918, Sanlam has been a prominent part of the South African business landscape. We have always held a long-term view of how business adapts to the demands of the environment in which it operates. Today, in a dynamic world, we see an evolving set of social, economic, political and environmental imperatives that require our skilfu...
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    Collections Team Leader

    Job Purpose

    The position of Collections Team Leader is responsible for overseeing the collection efforts of premium income as well as the Debtor's books and records. The Team leader is also responsible for the supervision of the collections staff. In addition, the Team leader will also work closely with the Collections Manager to ensure the correct premiums are collected at the right time.

    Formal Qualifications

    • Bachelor’s degree or equivalent

    Knowledge and Experience

    • 3-5 years high volume corporate collections experience
    • Knowledge of billing and collections procedures and practices
    • Experience in a long-term insurance company will be advantageous

    Computer Literacy

    • MS Office package, particularly Excel and Word, PowerPoint, Internet and Outlook

    Key Responsibilities

    • Collections
    • Ensure that correct premium due is collected using all methods of collection
    • Work directly with clients and ensure that all payments by clients are duly received on time as agreed, without delay
    • Ensure that the premium received is in line with expected rates and number of members
    • Ensure that all premiums received is allocated to the correct schemes and to the correct members
    • Oversees the clean-up of unallocated premiums
    • Ensure that the correct pre-debit (expected premium income) is raised and adjustments are book reflects the correct balances. Review and approve material adjustments

    Age Analysis

    • Monitor the age analysis
    • Ensure that the debtors on ageing do not exceed 60 days
    • Monitor the follow up of 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 (this is to be done in collaboration with the Compliance Department) and Initiate the process to write-off long-outstanding debts within the agreed upon Approval Framework
    • Provide a report weekly on the status of the age analysis and the progress on follow-ups
    • Monitor the sending of arrear letters and contacts (via telephone, email, sms etc.) with the client is done (and recorded) where appropriate and ensure that the evidence is stored appropriately for ease of retrieving as and when required

    Reconciliations

    • Ensure that monthly reconciliations are prepared for all schemes and that explanations are provided and follow-up is done for all reconciling items

    Biliing

    • Review the compiled billing schedules/statements to clients
    • Oversee the process of updating billing schedules in collaboration with the Membership Department
    • Review the balancing of monthly billing statements for existing clients after changes are entered into the system (by the Membership Department) and adjust as necessary to the schedules
    • Work closely with the Membership Department to ensure that amendments on existing membership data are processed on the system as per the client`s request within the agreed turnaround times with 100% accuracy
    • Oversee the process of debit order and Persal collections.

    Reporting

    • Submit the monthly Collections reports to the Accounts Department
    • Review and monitor monthly reports that need to be sent to stakeholders - ensuring that they are accurate and are sent on specified dates (e.g. debit order and Persal)
    • Report on the department progress and statistics on a weekly, monthly basis etc. to all the relevant forums
    • Perform data analytics, trend analysis etc. and provide explanations/interpretations

    Refunds and Queries

    • Review refunds based on client requests and membership data in conjunction with the Compliance Department
    • Ensure that clients/all stakeholders are kept up to date with the refunds status
    • Ensure that all refunds on the system
    • Oversee the process of ensuring that collections related queries are resolved and that feedback is provided to the relevant clients

    Accounting

    • Monitor and review the records and documentation for monthly closing and accounting reports
    • Compile and analyse financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions
    • Establish, maintain, and coordinate the implementation of accounting and accounting control procedures
    • Monitor and review accounting and related system reports for accuracy and completeness
    • Analyze premium income trends and recommend appropriate budget levels, and other business action
    • Prepare and present Collections forecasts for the company
    • Interact with internal and external auditors in completing audits

    Leadership, management and supervision

    • Manages the Collections employees
    • Develops ongoing training modules, implementing industry changes within the collection department
    • Trains new employees and holds training reviews for established employees

    Other

    • Tracks the rate of success of the entire process and continues to make adjustments when necessary
    • Establishes quality control standards and maintains and enforces them over time
    • Assist with ad-hoc projects in the department
    • Maintain a good relationship with all stakeholders

    Behavioural Competencies

    • Persuasive and influential
    • Target-driven
    • Manages expectations
    • Resilient
    • Responsible & accountable
    • Problem solver
    • Change agility
    • Professional and ethical
    • Planning and Organizing
    • Excellent verbal and written communication
    • Strong mathematical skills
    • Strong attention to detail, goal oriented
    • Highly proficient in computer software programs such as, word processors, spreadsheet programs and database system
    • Incumbent must be multi-task oriented, organized, set priorities and meet deadlines

    Method of Application

    Interested and qualified? Go to Sanlam Group on careers.sanlamcloud.co.za to apply

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