Credit Control Manager

Our client in the Insurance sector is looking to hire a Omani Credit Control Manager for their company.

Purpose

• To manage the credit control function.
• To supervise team and resolve issues in reconciliation of client’s balances.
• To provide strategic insight on the direction to the team members to achieve their goals.
• To maintain technical cashflows.
• To approve entries in the system processed by the team.
• To assist with general accounting.
• To prepare management reports on regular basis.
• To follow performance measure with team on regular basis.
• To co-ordinate with General Finance for technical bank reconciliation items

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Functions and duties

Management

• Set collection targets and their monitoring for the team.
• Ensure that the team is achieving the KPIs and business targets.
• Perform intercompany, Re-takaful and interbranch balances reconciliations and resolve the discrepancies.
• To keep track of quarterly borderaues sent to different MGAs alongwith their over-rider payment status.
• To ensure that settled transactions in borderaues and over-rider commission calculated by TAD is correct and matching Finance records.
• Assist in retro balances allocation and provide insight to manage differences in allocations due to different schemes of rendering and bookings.
• Provide comprehensive reports to the Head of Finance on the performance of the department and achievement of targets.
• Prepare AI driven reports for the department.
• Develop a proper check and balance system for the documents sent to TAD and Claims for bookings and allocations and prepare a report for delayed and un-booked transactions.
• Prepare a report showing cash calls requests and payments to ensure that every cash call is paid within the stipulated timeline.
• Ensure that there is no un-allocated transaction in MGA related un-assigned accounts.
• Ensuring proper coordination between credit control and other departments. Ensure that Credit Control department book all their monthly receipts and payments on time and co-ordinate with General finance team for and pending reconciliation item.
• Supervise the team and resolve issues facing them with other departments and with clients.
• Reconcile the balances of outstanding reserves and other paid balances for the purpose of commuting.

Financial Reporting

• Ensure monthly reconciliation for the MGA accounts with OMS.
• Ensure and perform the interbranch accounts recon with accounts of MGA and OMS.
• Ensure that there is no difference in Re-takaful and Oman conventional intercompany account and timely settlement of cash between accounts.
• Coordinate with external auditor for the verification of receivable balances and external confirmations.
• Review of entries prepared by the credit control team and post them in GL accordingly.

Management Reporting

• Compile the status of all clients fortnightly along with actions performed and prepare a comprehensive report for head of department.
• Provide fortnight plans and update on achievement in the reports.
• Liaise with retro department on reconciliation of the GL and the rendering reports.
• Prepare proposals to senior management on write off and commutations.
• Prepare monthly cashflow and Departmental report for senior management.
• Monitor department functions against approved budgets.

Health & Safety:

• Report any unsafe work or potential dangers in the office and submit them to concerned department
• Active participation in emergency drills that are held at the facility on a regular basis.
• Attending and actively participating in safety trainings that are held periodically.
• Providing suggestions and solutions about occupational health and safety and send them to the concerned department.

Experience

10 + years experience with professional qualification /degree

Level 3 – Expert application: