Credit Controller at Africa Merchant Assurance Company ltd

Job Purpose

The purpose of this role is to oversee the credit control function by ensuring timely premium collection, minimizing bad debts, enforcing credit policies, reconciling accounts, and managing stakeholder relationships. The role ensures full compliance with company and regulatory guidelines while optimizing cash flow and mitigating credit risks.

Key Responsibilities

• Oversee the credit control function, ensuring timely collection of premiums from brokers, corporate clients, retail customers, and bancassurance partners.
• Monitor outstanding receivables, enforce credit control policies, and ensure compliance with company and regulatory requirements to minimize bad debts.
• Review, assess, and approve credit terms for brokers, corporate clients, and bancassurance partners in accordance with company policies.
• Ensure accurate and timely reconciliation of premium accounts, working closely with finance, underwriting, and claims departments to resolve discrepancies.
• Supervise and support the credit control team, including the Assistant Accountant – Credit Control (Brokers & Corporate) and the Assistant Accountant – Credit Control (Retail & Bancassurance), ensuring efficiency and professional growth.
• Prepare, analyze, and present aged debt reports, highlighting risks, collection progress, and recommended interventions to senior management.
• Manage relationships with brokers, corporate clients, and bancassurance partners to ensure clear communication on outstanding balances, payment terms, and account issues.
• Oversee the issuance and authorization of credit notes, refunds, and adjustments, ensuring accuracy, documentation, and compliance.
• Implement and strengthen internal controls and debt recovery processes to reduce overdue accounts and enhance collection efficiency.
• Provide accurate and timely credit control documentation and schedules to support internal and external audits.
• Coordinate with the legal department on debt recovery, including negotiations, follow-ups, and necessary escalations.
• Ensure accurate and timely regulatory reporting in line with IRA and other applicable requirements relating to credit control, premium collections, and outstanding debts.
• Provide regular operational, compliance, and risk exposure reports to the Head of Finance on credit control performance and trends.
• Perform any other duties assigned by the supervisor from time to time.

Educational Requirements

• Bachelor’s degree, preferably in Finance or Accounting.
• CPA (K) or ACCA qualification required.
• Active membership with ICPAK or ACCA.

Work Experience

• Minimum of five (5) years of relevant experience, including at least three (3) years in an insurance company.