Account Receivable Officer at Cornerstone Insurance PLC

Main Responsibilities

• Checking the statements received for accuracy (including verifying information reported to contract terms where applicable) and querying any areas of concern with the underwriters / cedants and/or brokers.
• Investigation of overdue receivables to ensure the associated bookings are correct.
• Updating Brokers balances against cash allocation.
• Ensure accurate processing of all receipts/settlements/payments to the appropriate ledger, having agreed the items with the relevant third party.
• Ensure allocation of all receipts/payments against the respective technical entries on the ledgers, and to be able to reconcile any balance due to/from the third-party statements.
• To investigate any settlement or technical queries promptly and proactively on the ledgers, liaising with the underwriters and claims teams as appropriate to resolve the queries.
• Circularization of accurate and timely statements of account to all third parties, as required to facilitate prompt settlement of balances.
• To produce various management reports and analyses of the ledger balances, cash etc. as requested by the finance & operations director or others in the business.
• To proactively participate in projects or other initiatives designed to improve the effectiveness or efficiency of the finance department.
• To undertake any other tasks as requested by , in order that the team achieve its objectives.
• Prepare all Receivable Reports as required by management.
• Analyse data to establish problem accounts, line of business, distribution channels and booking/collection procedures to rectify receivable issues.
• Establish and refine receipting, matching and reconciliation procedures.
• Performs reconciliation between the company’s statement of accounts vs brokers/insurers/reinsurers statement of accounts.
• Work with internal teams such as Operations and other business units to resolve issues affecting receivables.
• Works with Business Development team to manage the receivable functions.
• Able to work independently and drive solutions with brokers/agents/bank partners as well as internal stakeholders to resolve receivable or reconciliation issues.
• Possesses excellent people-skills to manage and ensure that receivables are collected successfully.
• Takes initiative to follow-up on receivables issues and embark on mini projects to ensure resolution of issues, to meet the company’s receivables benchmarks.
• Prepare all regulatory reports and supply of monthly/periodical statistical analysis to financial reporting or as required by external auditors.
• Performance of additional ad-hoc duties as and when required.

Role Requirements

• Minimum of B.Sc in any relevant discipline from a reputable Institution.
• Professional qualification (ACA will be an added advantage)
• 4-5 years years’ experience in financial operations; particularly Account Receivable of insurance companies.
• Proficient in English and able to relate and communicate effectively with people.
• Work well in a team environment.
• Organized, deadline focused, meticulous with an eye for detail and able to work with minimum supervision.
• Ability to manage ad-hoc, non-standard and often unstructured requests, at short notice.
• Motivated to take ownership of work and to seek further responsibilities.
• Numerical/analytical skills is mandataory.
• Strong interpersonal and communication skills (written and oral).
• Excellent presentation, negotiation, and leadership skills.
• Computer fluency in MS Office suite plus other Insurance software.
• Good technical understanding about underwriting policy construction.
• Able to organize own workload effectively to meet service standards.
• Deadline focused; able to work under pressure to meet tight deadlines.