PREMIUM ACCOUNTING CLERK

Summary of Key Duties & Responsibilities :

1. PREMIUM COLLECTIONS
1.1 Ensure the collection of all premiums through the various collection methods.
1.2 Create standing instructions and lodge stop order mandates for SSB and other financial institutions.
1.3 Prepare the necessary schedules to facilitate the loading of premiums onto the system.
1.4 Check from reports generated that premiums have been loaded correctly and make any necessary Adjustments.
1.5 Prepare billing schedules and send out invoices to groups and companies for premium collection.
1.6 Prepare schedules and initiate SMS’s to clients for premium payment reminders and for those in arrears to avoid lapsing of policies.
1.7 Make follow ups on group administrators with group policies in arrears.

2. PREMIUM RECONCILIATIONS
2.1 Reconcile revenue streams by generating and checking Business Intelligence reports of all premiums collected and correcting variances to regularize clients’ policies
2.2 Update bank statement on a daily basis with details of premiums received
2.3 Liaise with Ledgers in cases of missing or insufficient remitter details
2.4 Engage clients, branches and IT department to correct errors in premiums collected where necessary

3. POLICY ADMINISTRATION
3.1 Handle queries of policy alteration and policy reinstatement
3.2 Assess underwriting issues, advise clients of changes in premiums and/or arrears and update premium collection method with changes for policy alterations and policy reinstatements
3.3 Prepare and dispatch policy reinstatement letters and updated policy schedules to clients
3.4 Amend records of existing group policies in the event of policy
adjustment and communicate with clients to adjust premiums remitted
3.5 Provide updated statements of contributions for GEP and statuses of
policies to the claims department for claim validation
3.6 Resolve all policy administration enquiries received at the front desk escalating complex cases to supervisors and engage clients to give feedback on query resolutions
3.7 Prepare and provide clients with updated statements of contributions and policy documents on request

4. RISK MANAGEMENT
4.1 Assess underwriting risk on all applications for policy alterations and reinstatements received
4.2 Positively identify all clients and recall policies for verification in query resolution to mitigate risk of making fraudulent amendments to policies and/or making incorrect refunds
4.3 Prepare reports on refunds made, Life Guarantee Attachment Report, Actuary Report for regular review

5. COMMISSIONS ADMINISTRATION
5.1 Consolidate all the premium payment methods to come up with a schedule of commissions payable
5.2 Send each agent a statement of commissions due to them for verification and confirmation
5.3 Prepare schedules for the payment of commissions.

6. ANY OTHER DUTIES
6.1 Undertake any other duties as may be assigned by Management from time to time.

Qualifications, Experience, Knowledge, Skills & Attributes

6’0′ Level passes including English Language and Mathematics obtained and passed with symbol ‘IV or better and 2’A Level passes
3-4 Year Degree in Accounting
Diploma in Accounting
Certificate of Proficiency (COP) is an added advantage
At least one year experience in the premium administration department of a reputable insurance company (not necessary for undergraduates)
Computer literacy, MS Word, Excel, Powerpoint etc.
Knowledge of records management procedures
Knowledge and understanding of insurance products
Ability to work under pressure and meet exact deadlines
Good interpersonal and communication skills ( oral and written)

Applicants should email their applications together with certified copies of certificates of academic and professional qualifications and a detailed Curriculum Vitae, including contact telephone numbers, clearly marked Actuarial & Product Development Manager/Premium Accounting Officer/Premium Accounting Clerk to [email protected] no later than Sunday 14 July, 2019.