Head of Collection (Insurance)

Head of Collection (Insurance)

Job Description:

Responsible for managing and optimizing the collections process to ensure timely recovery of premiums and outstanding payments while maintaining strong customer relationships. The ideal candidate will have a proven track record in collections management, a deep understanding of the insurance industry, and the ability to lead and inspire a high performing team.

This role is critical in minimizing financial losses, improving cash flow, and ensuringcompliance with regulatory requirements while upholding the organization's commitment to customer satisfaction.

Key Responsibilities:

Collections Strategy and Leadership:

• Develop and implement a comprehensive collections strategy aligned with the organization's financial goals and regulatory requirements.
• Lead, mentor, and motivate the collections team to achieve and exceed performance targets.
• Establish clear objectives, KPIs, and metrics to monitor and evaluate the effectiveness of the collections function.
• Foster a culture of accountability, professionalism, and continuous improvement within the team.

Operational Management:

• Oversee the end-to-end collections process, including premium recovery, overdue account management, and dispute resolution. 
• Monitor and analyze collections performance, identifying trends, risks, and opportunities for improvement.
• Implement best practices and innovative solutions to enhance collections efficiency and effectiveness.
• Ensure compliance with industry regulations, company policies, and legal requirements throughout the collections process.

Customer Relationship Management:

• Balance collections activities with a customer-centric approach to maintain positive relationships with policyholders.
• Resolve escalated customer issues and disputes in a timely and professional manner.
• Collaborate with customer service and sales teams to address customer concerns and improve payment behaviors.
• Develop and implement communication strategies to educate customers on payment obligations and options.

Technology and Process Improvement:

• Leverage collections software, analytics tools, and automation to streamline processes and improve outcomes.
• Identify and implement technology solutions to enhance collections efficiency and reporting capabilities.
• Continuously review and optimize collections workflows to reduce delinquency rates and improve recovery rates.

Reporting and Analysis:

• Prepare and present regular reports on collections performance, including delinquency rates, recovery rates, and aging analysis.
• Provide insights and recommendations to senior management based on data driven analysis.
• Monitor industry trends and benchmark collections performance against industry standards.

Qualifications:

• Bachelor's degree in Finance, Business Administration, or a related field. A Master's degree or professional certification (e.g., CPA, CFA) is a plus.
• Minimum of 10 years of experience in collections, credit management, or a related field, with at least 3 years in a leadership role within the insurance industry.
• Strong knowledge of general insurance products, premium billing, and collections processes.
• Proven experience in developing and implementing collections strategies that drive results.
• Excellent understanding of regulatory requirements and compliance standards in the insurance industry.
• Strong analytical, problem-solving, and decision-making skills.
• Exceptional communication, negotiation, and interpersonal skills.

Key Competencies:

• Strategic thinking and ability to align collections goals with organizational objectives.
• Strong leadership and team management skills.
• Customer-focused mindset with the ability to balance recovery goals with customer satisfaction.
• Results-oriented with a focus on achieving measurable outcomes.
• Adaptability and resilience in a fast-paced and dynamic environment.

Work setup: Full Onsite

Shift: Dayshift

Location: Alabang, Muntinlupa

By Applying, you give consent to collect, store, and/or process personal and/or sensitive information for the purpose of recruitment and employment may it be internal to Cobden & Carter International and/or to its clients.