Description:
Introduction:As the Debtors Clerk, you will be responsible for ensuring that all administration is complete, maintained and resolved in order to facilitate a seamless collection of the outstanding premium.
Description:
THE JOB AT A GLANCE
As the Debtors Clerk, you will be responsible for ensuring that all administration is complete, maintained and resolved in order to facilitate a seamless collection of the outstanding premium.
WHAT WILL YOU DO?
Debtors Account Maintenance
- Review accounts, track debit orders and verify payments
- Keep the cash flow forecast up to date to enable prompt follow up`s on accounts that have defaulted, including debit orders
- Send cash flow to accountants for tracking for legal/compliance records
- Allocate receipts/creditors notes to debt account on a daily basis
- Manually capture all payments at member level and allocate these to the correct invoice, including those identified by debtors clerks
- Ensure that all payments identified for reallocations (from mailbox or as informed by collections agents/contact centre/membership and sales) are completed once documents are received from debtor
- Compile a list of balances that need to be cleared from the age analysis and ensure that the list submitted for the transactions are created and matched to remove the balance via journals
- Ensure that interest calculation is correct and successfully uploaded in the financial system
- Maintain a list of all interest reversals for the allocated book. Ensure that interest is reversed on a weekly basis for cancellations and that the financial system status is updated
- Maintain the Invalid Contact Details Report including bounced e-mails by analysing the report and sending it to membership for update of member details
- Resend bounced invoices and statements to members (based on receipt of updates)
- Manually change/flag changing statuses as the account progresses through various stages
- Prepare Term Letters and ensure that the records are updated. Check that the member is fully compliant before the letter is drafted and submitted for approval. Updates on financial system done.
Management of Risk accounts
- Keep track of debt risks, such as but not limited to, closures or cancellations due to deregistration’s, liquidations, wrongly classified, duplicated accounts
- Ensure that credit notes are raised by Membership by doing regular follow up`s
- Maintain suspense accounts by referring accounts to the bank after investigation, where necessary
- Ensure that all Business rescue accounts are handed to legal, that statuses are updated all relevant correspondence is forwarded to them.
Reconciliations
- Conduct reconciliations between the various debtor accounts by interrogating rates, premiums and interest charged
- Conduct bank recons on receipts from premium balances against bank statements, on a daily and monthly basis
- Prepare monthly control account recons with relevant supporting documentation for submission within specific time frame
- Conduct monthly recon of trial balance to age analysis across company and debtors’ type
- Calculate, reconciliate and process refunds as a result of cancellations, incorrect payments or adjustments made by membership, by preparing a refund pack and uploading the documents onto the system, subsequent to getting approval
- Conduct legal recons by assessing what payment has been handed over to attorneys for litigation and ensuring no duplicate payments are made
- Ensure all integrations between systems are successful and invoices have been scheduled and dispatched to members.
Maintain the department central mailbox and respond to/resolve customer queries
- Manage the e-mail inbox and attend to open queries as directed from all stakeholders (internal and external)
- Maintain referrals from collections and respond to customer queries within the stipulated SLA.
Reporting and Billing
- Analyse report received from sales and establish if customers have been billed/not and if payment has been received/not
- Maintain manual billing process for all inter-company related costs including but not limited to the CF, Welkom and ad hoc costs (i.e. tribunal)
- Prepare and submit quarterly FICA report to the compliance team
- Report on all individual tasks, as per the list above.
WHAT WILL YOU GET IN RETURN?
We offer great opportunities for personal and professional development in a stable company that is 130 years strong. The role comes with a competitive salary package and various benefits. Furthermore, you will be part of a dedicated group of colleagues who value teamwork and collaboration.
Turnaround time
The shortlisting process will only start once the advert due date has been reached. The time taken to complete this process will depend on how far you progress within the recruitment process and the availability of our managers. Kindly note that should you not receive a response within 21 days, please consider your application unsuccessful.
Our Commitment to transformation:
In accordance with the employment equity plan of Rand Mutual Assurance and its employment equity goals and targets, preference may be given, but is not limited, to candidates from under-represented designated groups.
Requirements:
WHAT YOU'LL BRING TO THE TABLE
- NQF Level 5: Higher Certificates and Advanced National (Vocational) Certificate in Finance
- RE5 Certificate
- 2-3 years’ experience
- Experience using Excel at an intermediate level
- Basic understanding of accounting principles
- Ability to work with large volumes of accounts.
Requirements:
- Review accounts, track debit orders and verify payments
- Keep the cash flow forecast up to date to enable prompt follow up`s on accounts that have defaulted, including debit orders
- Send cash flow to accountants for tracking for legal/compliance records
- Allocate receipts/creditors notes to debt account on a daily basis
- Manually capture all payments at member level and allocate these to the correct invoice, including those identified by debtors clerks
- Ensure that all payments identified for reallocations (from mailbox or as informed by collections agents/contact centre/membership and sales) are completed once documents are received from debtor
- Compile a list of balances that need to be cleared from the age analysis and ensure that the list submitted for the transactions are created and matched to remove the balance via journals
- Ensure that interest calculation is correct and successfully uploaded in the financial system
- Maintain a list of all interest reversals for the allocated book. Ensure that interest is reversed on a weekly basis for cancellations and that the financial system status is updated
- Maintain the Invalid Contact Details Report including bounced e-mails by analysing the report and sending it to membership for update of member details
- Resend bounced invoices and statements to members (based on receipt of updates)
- Manually change/flag changing statuses as the account progresses through various stages
- Prepare Term Letters and ensure that the records are updated. Check that the member is fully compliant before the letter is drafted and submitted for approval. Updates on financial system done.
- Keep track of debt risks, such as but not limited to, closures or cancellations due to deregistration’s, liquidations, wrongly classified, duplicated accounts
- Ensure that credit notes are raised by Membership by doing regular follow up`s
- Maintain suspense accounts by referring accounts to the bank after investigation, where necessary
- Ensure that all Business rescue accounts are handed to legal, that statuses are updated all relevant correspondence is forwarded to them.
- Conduct reconciliations between the various debtor accounts by interrogating rates, premiums and interest charged
- Conduct bank recons on receipts from premium balances against bank statements, on a daily and monthly basis
- Prepare monthly control account recons with relevant supporting documentation for submission within specific time frame
- Conduct monthly recon of trial balance to age analysis across company and debtors’ type
- Calculate, reconciliate and process refunds as a result of cancellations, incorrect payments or adjustments made by membership, by preparing a refund pack and uploading the documents onto the system, subsequent to getting approval
- Conduct legal recons by assessing what payment has been handed over to attorneys for litigation and ensuring no duplicate payments are made
- Ensure all integrations between systems are successful and invoices have been scheduled and dispatched to members.
- Manage the e-mail inbox and attend to open queries as directed from all stakeholders (internal and external)
- Maintain referrals from collections and respond to customer queries within the stipulated SLA.
- Analyse report received from sales and establish if customers have been billed/not and if payment has been received/not
- Maintain manual billing process for all inter-company related costs including but not limited to the CF, Welkom and ad hoc costs (i.e. tribunal)
- Prepare and submit quarterly FICA report to the compliance team
- Report on all individual tasks, as per the list above.
- NQF Level 5: Higher Certificates and Advanced National (Vocational) Certificate in Finance
- RE5 Certificate
- 2-3 years’ experience
- Experience using Excel at an intermediate level
- Basic understanding of accounting principles
- Ability to work with large volumes of accounts.
17 Mar 2025;
from:
careers24.com