Collections Supervisor

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company, a publicly traded joint-stock firm located in Saudi Arabia, was established by royal decree and government decision. It originated as an extension of United Insurance Company, Bahrain, founded in 1983, and entered the Saudi Stock Exchange in 2008 under the symbol 8170. Regulated by the Saudi Insurance Authority, it provides a diverse range of insurance products including general, medical, motor, and protection & savings insurance. The company maintains an extensive network of branches to ensure client proximity across the Kingdom and commits to exceptional customer service through a dedicated team.

Role Summary: Collections Supervisor

This position involves overseeing the collection of pending insurance premiums and leading the Collection Team in compliance with established policies and procedures. The supervisor is accountable for monitoring outstanding customer balances, managing payment plans, and ensuring accurate payment reconciliation within the accounting system and bank records.

Key Duties

• Oversee collection efforts of unpaid premiums and supervise the Collection Team adhering to approved policies and procedures.
• Track overdue customer balances and enforce timely collection actions.
• Analyze Aging Reports to highlight and prioritize high-risk accounts for collection efforts.
• Ensure adherence to payment schedules and agreements by customers.
• Reconcile payments received with bank and accounting records, maintaining precise allocation to customer accounts.
• Manage delinquencies and high-risk accounts, collaborating with various departments for recommendations.
• Employ negotiation and communication skills to negotiate settlements and payment plans with clients and brokers.
• Direct Collection Team activities, delegate tasks, monitor progress, and evaluate team performance.
• Coordinate with Legal Department and external collection agencies for referred accounts, ensuring appropriate procedures and timely monitoring of outcomes.
• Execute assignments and directives provided by the Department Manager or authorized personnel within role obligations.

Qualifications & Requirements

• Possession of a Diploma or higher in Business Administration or related disciplines.
• At least three years of experience in Collections or an allied domain.
• Effective communication and negotiation capabilities.
• Strong analytical thinking and problem-resolution skills.
• Proven leadership to manage and supervise a team efficiently.