Account Receivable Executive

2 days ago


Muscat, Muscat, Oman Liva Insurance Oman Full time

This role is about effectively managing Insurance and Reinsurance Premiums receivable (including Receivables from Third Party Insurance Companies where applicable) through embedding the Insurance operations Credit Risk policy, delivering healthy cash flow for the operational needs of the business through timely collection of receivables, managing overdue debts within agreed thresholds, and active engagement of stakeholders across the business on matters relating to credit control.

Managing credit and receivable accounts to contribute to the organization's overall financial stability and profitability.

Conducting regular credit reviews and reassess credit limits based on payment history and changes in creditworthiness.

Assisting in collecting delinquent accounts and applying strategies to encourage timely payments.

Maintaining positive relationships with customers, while effectively mitigating credit risks and ensuring timely collections.

Coordinating with other departments such as underwriting, sales, claims, and customer service to handle all credit-related matters appropriately.

Responsibilities:
  1. Sending Statement of Accounts to Agency/Broker/Customer on a regular basis, issuing receipts on time.
  2. Monitoring and managing the credit control processes, ensuring adherence to company policies and procedures.
  3. Evaluating and assessing the creditworthiness of new and existing customers through financial analysis, credit checks and payment history review.
  4. Setting appropriate credit limits for customers based on risk assessment and maintain accurate credit files and records.
  5. Monitoring customer accounts to ensure timely payments and address any payment delays or discrepancies promptly.
  6. Engaging with customers to establish payment plans, negotiate payment terms and resolve billing inquiries or disputes.
  7. Generating regular reports on accounts receivable, collections and credit risk to management, highlighting areas of concern or improvement opportunities.
  8. Maintaining strong relationships with customers, providing excellent customer service and addressing their queries or concerns related to credit matters.
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