Reconciliation Officer -Banc Assurance job at Family Bank Ltd
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682 Days Ago
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Vacancy title:
Reconciliation Officer -Banc Assurance

[ Type: FULL TIME , Industry: Banking , Category: Banking ]

Jobs at:

Family Bank Ltd

Deadline of this Job:
20 January 2023  

Duty Station:
Within Kenya , Nairobi , East Africa

Summary
Date Posted: Wednesday, January 11, 2023 , Base Salary: Not Disclosed

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JOB DETAILS:
Key Responsibilities:
• Review of monthly underwriter reconciliations for premiums and commissions and ensure that all reconciling issues are resolved on a timely basis
• Preparation of bank reconciliations and ensuring reconciling issues are properly addressed and closed
• Ensure that all commissions receivables and premiums receivables are collected on timely basis
• Monitoring individual Banc assurance officers outstanding debt portfolio
• Recovery of insurance commissions from payments done directly to the Underwriter/Insurance company
• Ensuring adherence to insurer credit policies as stipulated in the respective Underwriter SLAs
• Approve payment receipts in the system
• Process payments to underwriters on the agreed timelines and as per the SLA
• Generating of payment schedules to underwriters
• Generate and share client statements with premium balances
• Follow up IPF disbursement with credit department
• Maintain post-dated cheque register and ensure banking of cheques held is done on the due date.
• Ensure compliance with both external and internal regulatory requirements, i.e. Bank, IRA, CBK guidelines.
• Ensure compliance with the Data Protection laws, policies and procedures of the Bank.
• Compliance with AML/CFT laws and ensuring KYC is done for all clients.
• Provide recommendations for improving procedures and systems for initiating corrective actions.
• Proposing internal control measures in order to minimize exposure i.e. liaising with underwriters and banc assurance officers to correct errors in the system.
• Participate in preparation of financial reports and assisting with year-end audits and other reviews by providing relevant schedules and documents.
• Ensure closure of Audit issues raised within the Finance Department.
• Preparing outstanding premiums reports per Banc Assurance Officer/Branches.
• Preparing outstanding premiums reports per Insurer.
• Recovery of insurance commissions from payments done directly to the Underwriters/Insurance company.
• Ensure implementation and compliance with operational policies and procedures, i.e. IRA, CBK & AML Policy.
• To assist in enforcing credit control and debt collection.
• Ensure excellent customer service and all queries related to Finance Department are attended to as per the stipulated TAT & SLA.
• To communicate and liaise with both internal & external clients and assist in handling finance related communications where need be.
• Please note that your job description may be subject to change from time to time in line with the Bank's strategic direction.
• Any other official duty that may be allocated by the line manager from time to time.

The Person:

The ideal candidate must possess the following qualifications:
• Bachelor’s degree in BCom (Finance/ Accounting)/ Business Management Banking and Finance/ Business related field.
• CPA Finalist will be an added advantage.
• Ms office proficiency certificates.
• Knowledge in accounting and finance.
• Insurance Industry knowledge in Finance Operations or preferably within Banc assurance Intermediary Model and has proficiency in the use of Banc assurance and accounting systems.
• At least 2 years’ experience in insurance industry, preferably in Banc assurance.
• Key Competencies and Attributes:
• Able to spot weakness in internal controls
• Builds networks and maintains strong relationships
• Able to manage and influence others to achieve results
• Has passion and drive to achieve results under difficult circumstances
• Pleasant and able to relate well in diverse social set ups and teams
• Upholds high standard of Professionalism, integrity and respect for others
• Capable of working both independently and as part of a team
• Have a strong attention to detail
• Be results oriented
• Have strong proactive problem-solving skills

Work Hours: 8


Experience in Months: 24

Level of Education:
Bachelor Degree

Job application procedure

ALL applicants MUST apply online to the email; recruitment@familybank.co.ke ; closing date is 20th January 2023. Canvassing will automatically disqualify the candidate. Only shortlisted candidates will be contacted.
“We are an equal opportunity employer”


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QUICK ALERT SUBSCRIPTION

Job Info
Job Category: Banking/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 20 January 2023  
Duty Station: Nairobi
Posted: 11-01-2023
No of Jobs: 1
Start Publishing: 11-01-2023
Stop Publishing (Put date of 2030): 11-01-2065
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