Team Lead -Credit Control (Fixed Term Contract ) at Old Mutual South Africa

Job Description

• Delivers, maintains and enhances service / work standards and work quality via a team of clerical staff, within a given process/es

Responsibilities

• Assist in technical decision making of a function as well as management of work volumes / flow
• Establishes and maintains client / customer relationships
• Could take accountability for the implementation of a strand of an operational project
• Extensive experience in day-to-day management
• Manages the financial reporting requirements for the business unit
• Drives & collates monthly submission consisting of reports and commentary by agreed deadline
• Prepares monthly financial reports for management including a high-level variance report by agreed deadline
• Compile ad-hoc reports based on requirements
• Develops, reports on and interprets cost drivers, KPIs and benchmarks
• Provides commentary on financial results and the implications thereof and advises on corrective action to be taken
• Ensures that all financial accounting transactions the team is responsible for are accurately reflected in the business unit ledger
• Accountable for governance and compliance at an operational level
• Creates a healthy internal control environment to ensure safeguarding of assets & integrity of financial information
• Monitors & reports on status of all control accounts in the business unit
• Effects on-going changes to internal controls as necessitated by changes in business and corporate governance
• Emphasis of the role is on interpretation and predictive results
• Assist in maintenance of complex business models
• Assists in internal and external audits
• Assist in preparation of annual business plans and quarterly forecasts
• Recording of financial transactions to trial balance level
• Assist in preparation of annual financial statements

Premium Management

• Ensure and monitor compliance with the premium collection policy and relevant service level agreements
• Review and authorize all premium refunds requested from Underwriting
• Set up, at minimum, monthly meetings with respective stakeholders to resolve overdue and persistent queries. These engagements will be aligned to the escalation process and timeline as outlined in the various SLAs and SOPs
• Review the debtors control account reconciliation monthly, report and escalate any reconciling differences which exceed the 1.5% reconciling variance threshold.
• Perform a monthly trend analysis to pick up any spikes and drops in outstanding premium in order
• to identify, report on, escalate and rectify any anomalies as soon as possible.
• Produce and distribute a monthly debtors report providing an overview of the premium debtor state of accounts which includes a view of the Rand value in outstanding premium that is disallowed in the Solvency Capital Requirement Calculation
• Facilitate the monthly Premium Collection Oversight Committee meetings to address all areas of concerns pertaining to a slower than expected collection rate, underwriting queries, premium backdating and also the effect of long overdue premium on the Solvency Capital Requirement (SCR) calculation.

GL Management & Other

• Timeously review and evidence review of General Ledger Reconciliations
• Follow up and escalate any unresolved and long outstanding recon items.
• Monitor and enforce strict adherence to both company and departmental policies within your area of responsibility.
• Ensure that the necessary journals are processed to account for any financial misstatements where aware of
• Ensure queries and problems are responded to and resolved timeously
• Ensure that all daily and monthly deadlines are met timeously within the respective teams.
• Perform other ad-hoc function related tasks assigned to you by the manager from time-to-time
• Drive a high-performance culture within the team
• Preparation and distribution of management reports to FinOps Management team
• Maintain service, quality, and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.
• Resolve escalated customer queries and complaints and provide feedback to customers on matters resolved.
• Develop work routines in line with operational plans / schedules to manage achievement of service delivery goals
• Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

Experience, knowledge & skills required

• Bachelor’s degree in commerce or finance is essential
• 5 to 8 years’ experience working in a credit control environment is essential
• 3 to 5 years’ proven management experience is essential
• 3 to 5 years’ proven operational (credit control) management is preferred
• 3 to 5 years’ working experience in insurance is preferred
• Strong analytical and problem-solving skills
• Strong interpersonal and client relationship skills
• Strong communication skills (both verbal and written)
• Proven ability to work independently and proactively
• Ability to implement controls to reduce risk to the business
• Good Excel and operating systems skills