Job Title: FINANCIAL INSURANCE ADMIN TEAM LEADER
Company:Tower Group
Job description: Job SummaryMonth End Process:
- Reconcile monthly collection tapes per Insurer and Broker and balance back to Bank
- Reconcile insurer bank accounts to Bordereaux after close off and the 16th of the month (Clearing recon)
- Binder recon across different binder entities / brokers
- Ensuring premium allocated or transferred to the correct month
- Agent bordereaux to be reconciled and paid by the 28th of the month.
- Insurer premium loaded on the 12th to be paid by the 15th of the month.
- Rejections uploaded daily and matched to PowerBi.
- Allocate Deposits daily and keep track of unallocated deposits for weekly follow up with brokers.
- Reconcile bank ledger with rejections, deposits and refunds before close off
- Binders checked against binder list and bord sent to finance for invoicing
- Claim payments and send POP/Statements to claims department
- Payments
- Daily Cover to be reconciled and paid over to Qsure
- Any changes in process to be communicated with Training co Ordinator and Internal TIAl team to update manuals and training to be provided to team.
REPORTING
- New reporting requests to be discussed and specified with the requesting party to get an understanding of what is being requested.
- Request logged with Internal TIAL team
- Follow up on CRS’s relating to Business unit
- Testing of new reports
- Any errors on reports to be investigated and CRS logged with the internal TIAL team.
- Have discussions to explain request or provide more information.
- Documentation to be completed when logging a CRS.
DEBTORS/CREDITORS:You will be responsible for the following:
- Broker Queries to be investigated and advised
- Insurer queries to be investigated and relevant department informed to amend policies
- Ensure proper debtor’s controls are implemented and adhered to thus reducing the risk of bad debt and late collections.
- Ensure proper payment controls are implemented and adhered to thus reducing the risk of over payment, early payment, fraudulent payment, and misallocations to policies.
- Propose and implement improvements in internal controls to facilitate accurate and timely reporting.
GENERAL:You will be responsible for the following:
- Develop external relationships with appropriate contacts (insurers, bankers, and brokers)
- Keep abreast of changes in financial regulations and legislation.
- Develop operational mechanisms that minimize financial risk.
- Communicate with other business units to ensure that premium is reconciled in the correct entity and paid over from the correct entity.
Communicate any changes regarding rules and processes to the relevant partiesTower GroupRecruiter
Expected salary: R400000 – 650000 per year
Location: Durban, KwaZulu-Natal
Job date: Tue, 10 Dec 2024 00:29:14 GMT
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