Receivables Associate -AutoSMART Business Unit

The Receivable Clerk is responsible for executing the company’s credit policy.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Assumes responsibility for executing the company credit policy.

•  Collection of the company’s fund within agreed credit terms (60 Days)
• Liaise with Direct clients and Agents concerning disputed items, collection procedures, and cancellation of policy cover.
• Liaise with the Underwriting department regarding adjustments relating to receivable balances.
• Liaise with the Finance Department regarding outstanding payments to be posted

Assumes responsibility for monitoring and controlling receivables.

•  Prepare Month End Statements and dispatch the same to Agents within two days after month-end close.
• Investigate and communicate with the agents, list of outstanding premiums to be collected and policies to be cancelled before requesting cancellation from the underwriting department. 
• Prepare cancellation notices for unpaid premiums after 60 days. It is expected that notifications will be sent within 75 days as a standard.
• Rescind cancellation notices for which premiums are collected within the notice period.
• Investigate and communicate with the underwriting department, list of premiums collected/refunded for which transactions have not been raised on our system.
• Ensure that all policies are cancelled after the cancellation notices have expired.
• Communicate with the claims department the status of premium for policies having claims.
• Prepare monthly a report of policies over 90 days with detailed reasons for policies being outstanding.
• Review weekly client accounts before the period end close to ensure that all refunds/cancellations are offset.
• Liaise with external finance companies regarding policies being premium financed

 OTHER

Other tasks assigned by any senior member of the department