Head of Debt Reconciliation

Job Purpose
The Head of Debt Reconciliation is responsible for ensuring CIC accounts receivable are reconciled and signed off with the respective intermediaries and clients.

Primary Responsibilities

• Ensure monthly receivables targets are met and minimize bad debt.

• Monitor debtor balances to reduce debtor's Days Sales Outstanding (DSO).

• Ensure credit and collection policies and procedures are followed within the team.

• Visit clients and intermediaries, make calls, and send emails to chase debtors.

• Liaise with sales managers regarding overdue/disputed accounts.

• Review disputes weekly, escalating to the GCFO as necessary.

• Address overdue accounts that have gone dormant and liaise with third-party recovery agencies.

• Coordinate with underwriting and claims departments for closure of reconciling items.

• Resolve reconciling items and ensure their closure.

• Ensure monthly sign-off of intermediary balances with respective debtors.

• Prepare monthly debt reconciliation reports for the credit control strategy committee.

• Respond to client and intermediary inquiries and manage the processing and reconciliation of invoices.

• Check and post receipts to accounting systems.

Key Skills, Knowledge, Experience, and Behavioural Competencies

• Education:

  • Bachelor’s Degree in a business-related field

• Professional Qualifications:

  • CPA (K)

  • Certifications in credit control are an added advantage

• Experience Required:

  • At least 5 years relevant experience in a similar role

• Qualifications & Skills:

  • Strong knowledge of debt management, collections, and reconciliation

  • Excellent communication and presentation skills

  • Strong problem-solving and analytical skills

  • Excellent interpersonal skills

CIC Insurance Values
CIC Insurance Group is committed to providing excellent service, encouraging growth, and employees are expected to align their behavior with the following core values:

• Integrity – Be fair and transparent

• Dynamism – Be passionate and innovative

• Performance – Be efficient and results-driven

• Co-operation – Live the Co-operative spirit

How to Apply
If you meet the above qualifications and are ready to take on this mandate, apply strictly through the link below:
Apply for Head of Debt Reconciliation
The application deadline is January 10, 2025. Only shortlisted candidates will be contacted. If you do not hear from us by January 31, 2025, please consider your application unsuccessful.

Note: This job advert is open to both internal and external candidates.

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