Islamic Development Bank
The role holder is responsible for analyzing, reviewing the claims filed and recommending on valid claims while ensuring that all procedures are as per the established guidelines of ICIEC. The role holder will also be responsible for liaising with buyers in cases of non-payment and undertaking innovative measures for recovery in the interest of ICIEC. The role holder is also responsible for analyzing claims and recovery cases to identify trends and recommend action plans to minimize the same.
- Assists in the investigation of a claim submitted by a policyholder by gathering and collating all the necessary information and documentation necessary to verify the authenticity of the claim submitted.
- Examines reason for non-payment, part payment or any delays in payment by the buyer to analyze possible recovery options.
- Liaises with the Underwriting, Policy Administration and the Policyholders/Obligors for any additional information required for analysis of claim submitted.
- Implements all administrative processes to carry out the settlement of claims in line with the policy terms and conditions, regulatory requirements and organizational guidelines governing the claims procedure.
- Prepares claim submissions with appropriate recommendation for the Head of Claim and Recovery.
- Documents every claim submitted and analyses the information periodically to recommend action plans for future reference.
- Ensures updating customers periodically on the status of the claim submitted and also manages all cases of customer complaints/queries pertaining to claims and addresses them on time.
- Responsible for all claim documentations and filing, maintaining electronic and hard copies.
- Implements various recovery methods to be adopted for the claim submitted by assessing the information gathered and possible risk involved, to the Head of Legal Claims and Recoveries.
- Interacts with the buyer to initiate the recovery process basis and the agreed method of recovering through mutual consent, legal procedures or through recovery agents, in line with established guidelines for the recovery process.
- Liaises with underwriters and Legal Counsel to seek inputs on the claim submitted, recovery approach, possible risk assessment and suggestions to ensure maximizing the recovery for ICIEC.
- Ensures entry of written off claims in the General Ledger to settle the account in the accounting books once classified as non-recoverable claim.
- Coordinating between the Departments and Claims & Recovery Function in case of any claim and recovery case.
- Responsible for writing business letters, reports and office memoranda as requested, and prepare and modify documents including correspondence, reports, drafts, memos and emails.
- Meetings Facilitator: Schedule and coordinate meetings, and appointments as required, preparation of meeting agenda and circulation of minutes of the meetings.
- Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating legal documents preparation.
- Conserves Head of Claims & Recovery’s time by reading, researching, reviewing, verifying, and routing correspondence, reports and legal documents; drafting memos, letters and documents; collecting and analyzing information; initiating telecommunications; organizing client conferences, and C&R Function’s meetings; managing couriers, memos, management decisions, preparing expense reports and other special functions.
- Maintains C&R Function’s calendar by planning and scheduling conferences, teleconferences and travel; recording and monitoring deliverables’ dates.
- Represents Legal Department by communicating and obtaining information; following-up on delegated assignments; knowing when to act and when to refer matters to C&R Function.
- Maintains client confidence by keeping client/C&R Function information confidential.
- Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Nature of Experience
- Prior experience in managing claims and recovery operations with minimum 2 years of relevant experience, preferably in Export Credit Insurance/Banking Industry
Field of Study
- Finance/Business Administration (Legal background preferred)
Academic Qualifications and Relevant Experience
High School Diploma
Job Type: Full-time
To apply for this job please visit sa.indeed.com.