JOB DESCRIPTION AND SPECIFICATION
November 2020
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Name:
Position: General Accounting Officer
Division/Department: Accounts
Reports to: Chief Accountant
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Job specifications
Minimum Required Education and Experience
1. Diploma from a tertiary institution majoring in Accounts or its equivalent. 2. Professional certification in Accounts.
3. Minimum of three years’ working experience in the field of Accounting. 4. Working in the insurance sector would be an asset.
Required competencies
Core
1. Very good written, verbal and presentation skills
2. Very good customer relationship management techniques
3. Very good analytical, problem solving and decision-making skills
4. Good knowledge of the technological environment to support business operations.
Technical
1. Basic knowledge of insurance relevant to the accounting functions
2. Basic knowledge of Insurance Broking software.
3. Good knowledge of other accounting software systems.
4. Good knowledge of Microsoft Office, particularly Word and Excel, plus familiarity with the internet and accessing information.
5. Compliance with organization and regulatory policies and procedures.
6. Compliance with standard accounting practices.
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Job Purpose
The incumbent in this position is responsible for:
Monitoring and maintaining ALL accounts receivable according to the company’s credit policy which includes:
1. Follow-up on collections
2. Prepare client statements
3. Recommend write-offs
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Key Outputs
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Performance Criteria
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Financial
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1. Clients’ accounts monitored and managed.
2. Agreed balances to be written off.
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Insurers amounts payable are based on client collection and are paid within established the company and general accounting policies and practices.
Reconciliations are done within established company and general accounting policies and practices.
Amounts agreed are communicated to the Financial Controller and written off within agreed timelines manner and within established the company general accounting policies and practices.
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Customer
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1. Quality customer service is delivered to external and internal customers.
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a. Not more than two (2) complaints (where the company is at fault) related to assigned clients’ accounts that could significantly impact the company’s business or customer relationships in a negative way within six-month period.
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b. Clients’ accounts queries are
communicated, investigated and resolved quickly according to established the company
policies and procedures.
c. Client account reconciliations and reports are accurately done on a timely basis so that they are useful.
d. Good relations are maintained with clients, staff and insurance companies.
e. Unresolved conflicts should not
negatively and significantly impact on the employee’s and/or department’s
performance and workplace harmony.
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Internal Business Process
Quality control of assigned accounts, reports, standards, policies and procedures are maintained.
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a) Credit information is accurately produced and communicated within the given time frame.
b) Collection is maintained at or within the period required as per the credit policy.
c) No incidence of inefficiencies in the monitoring and reporting of assigned
accounts that could significantly and
negatively impacts the business.
d) Client account reconciliations are done within established the company and general
accounting policies and practices.
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Learning and Growth
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∙ Monitor and reinforce positive company values
∙ Pursue personal development initiatives that are consistent with company goals (such as seminars, membership in a
professional organization and/or pursuit of further professional qualifications
relevant to the post).
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Full conformance with company values
At least (1) one or more internal and/or external developmental experiences arranged or discussed during the fiscal year.
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Job Duties
Management/Administrative Responsibilities
1. Communicate with Department Managers and Producers to ensure that all billings to clients are accurately inputted on the system on a timely basis.
2. Liaise with Producers regarding proper monitoring of client accounts and efficient collection of amounts outstanding.
3. Liaise with producers, Finance Companies and clients regarding premiums that are financed. 4. In collaboration with the Financial Controller, maintain the credit policy and help to oversee compliance with this policy.
5. Maintain constant communication with insurance companies to address reconciliation and other accounting queries.
6. Liaising with Life Insurance companies to ensure prompt collection of commission due and reconcile to ensure completeness.
7. Recommending cancellation of cover when necessary in liaison with Department Managers and Producers.
Technical/Professional Responsibilities
1. Analyze aged receivable reports, identify past due accounts, communicate with clients and Producers, coordinate, and document client collection issues.
2. Identify and resolve problems and inconsistencies and suggest appropriate corrective procedures. 3. Research and resolve Client Payment Disputes.
4. Reconcile client accounts on a consistent basis and process the relevant transactions to reconcile the respective policies, in agreement with the instructions of insurers and with confirmation, where necessary, of Producers or Department Managers.
5. Determine amounts to be written off by liaising with insurance companies and Producers. 6. Prepare periodic reports for the Financial Controller for the purpose of Accounts Receivable analysis.
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Human Resource Responsibilities
1. Identifies, discusses and commits to professional development opportunities. 2. Participates positively in performance management conversations and experiences. 3. Promotes healthy relationships with co-workers and external business partners 4. Maintains professional conduct based on the values, human resource policies and practices of the company.
Other Responsibilities
Any other duties as assigned by the Financial Controller or Chief Accountant.
Reports to:
Directly: Chief Accountant
Indirectly: Group Financial Controller
Direct reports:
∙ N/A
Authority:
∙ Directly request amounts outstanding from Customer Service Clients.
∙ Recommend amounts for write off.
∙ Access to company’s vault.
Working conditions:
∙ Regular work hours and on occasions may be required to work outside of normal working hours.
∙ Normal office environment