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Collections & Recoveries Manager – Riyadh, SA

Website MEDGULF MEDGULF

MEDGULF

Collections & Recoveries Manager – Riyadh, Saudi Arabia. Develop and administer a comprehensive commission plan for third party contractors that will reward successful achievement of corporate goals

Purpose :

  • To support the ongoing financial success of MEDGULF by collecting bad debts due to clients in a professional and effective manner
  • To investigate the circumstances and reasons for non-payment and advice the internal concern to avoid bad debts due amount
  • To recommend/take action as appropriate in line with prevailing regulations, policies, and procedures
  • To direct and manage the recovery of the due amount from third parties/clients across all Business lines.
  • Maintain and keep good business relation with the bad debts clients while collecting a settling the due amounts

Collections & Recoveries Manager – Riyadh, Saudi Arabia

Responsibilities:

  • Develop and administer a comprehensive commission plan for third party contractors that will reward successful achievement of corporate goals, identify industry standards and benchmarks, create a commission plan with strategic, achievable, and measurable goals as well as develop and implement measurement mechanisms to track performance.
  • Collections & Recoveries Manager. Develop and maintain business plans and manage operations within budgeted guidelines, responsible for the development and the management of a comprehensive operating budget.
  • Maintenance of departmental staffing levels and training to ensure that the customer experience is optimized.
  • Maintain, monitor, and measure collections efforts, develop and revise standardized internal reports and processes, ensure compliance with all regulations when performing collections activities in a multi-product environment, measure, and review collection performance by local area and region.
  • To optimize Company income by effectively pursuing the collection of premium bad debts properly due to clients (referring as necessary to the Finance Department) through direct contact with clients, initially by verbal contact to ascertain the reasons for non-payment and to endeavor to achieve a satisfactory resolution; thereafter by written communication and attendance at meetings as necessary and, as a last resort, referring to litigation action.
  • Collections & Recoveries Manager.To promote customer retention by assisting with renewals of business in cases where a customer who owed premium is nevertheless considered to be a ‘good’ customer.
  • To help minimize Company costs and time by pursuing the efficient and cost-effective recovery of monies due from third parties by direct communication, obtaining letters of authority from clients to deal with the claim on their behalf, and endeavoring to reach settlements within agreed limits without recourse to court litigation where possible.

Collections & Recoveries Manager

  • To ensure enforcement of settlements for collections and recoveries by producing and formalizing (notarised) agreement letters and following up to ensure that payments are made (a reference to SIMAH being used as an incentive).
  • To limit Company expense by avoiding unnecessary litigation by ensuring that all relevant information is obtained on collections and recoveries, making fair assessments of the circumstances and endeavoring to reach a settlement where appropriate
  • To support bad debts collection and recovery by recommending litigation where necessary, preparing necessary and accurate documentation to effectively brief and prepare the legal case to pursue effective collection and recovery through the courts.
  • To prepare the required statistics & reports, solving problems and identifying appropriate resolutions during daily work
  • To develop, design and amend collection and recovery manuals, procedures and system

 Collections & Recoveries Manager. Minimum Requirements:

  • Minimum of 7 years of experience in Collections & Recoveries (which at least 3 years should be in an insurance-related field).
  • Minimum of 3 years of management experience
  • IFCE

Qualifications:

  • Bachelor Degree – Law OR Accounting

 Collections & Recoveries Manager. Competences and Skills:

  • Good communication skills – written and verbal
  • Arabic and English
  • Good people skills
  • Good negotiating skills
  • Commercial awareness.
  • Interpersonal, Social & Cooperative
  • Meticulous & Analytical mind
  • Decision Maker.

 Collections & Recoveries Manager. Key Relationships:

External :

  • Clients -Third Parties.
  • SIMAH – Saudi Credit Bureau.
  • Legal Counsels in Jeddah, Dammam (Al-Khobar) & Riyadh.
  • Health Claims Service (Head of Health).

Collections & Recoveries Manager. Internal :

  • Finance Manager
  • General Claims Manager.

Location

Preferable: Saudi Nationality.

Industry

  • Insurance

Employment Type

Full-time

Job Functions

  • Sales
  • Health Care Provider
  • Customer Service

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