Collections Supervisor

About Al Etihad Cooperative Insurance Co

Al Etihad Cooperative Insurance Company is a public joint-stock company operating in the Kingdom of Saudi Arabia. Established under a decision from the Council of Ministers and a royal decree, the company has a paid-up capital of 500 million Saudi Riyals. It is an extension of United Insurance Company, which began operations in Saudi Arabia in 1983. In 2008, the company was listed on the Saudi Stock Exchange (Tadawul) under the symbol 8170.

The company is regulated by the Saudi Insurance Authority and is licensed to provide various types of insurance, including general insurance, medical insurance, motor insurance, and protection & savings insurance. Al Etihad Cooperative Insurance Co maintains a wide network of offices and regional outlets across the Kingdom and is supported by a dedicated team focused on customer service.

The Role of Collections Supervisor

Al Etihad Cooperative Insurance Co is seeking a Collections Supervisor to join its team in Al Khobar, Eastern Region. This full-time role involves overseeing the collection of outstanding premiums and managing the Collection Team to ensure adherence to company policies and procedures. The position requires 2-5 years of relevant experience.

Key Responsibilities

• Supervise the collection of outstanding premiums and monitor the Collection Team in accordance with approved plans, policies, and procedures.
• Monitor outstanding and overdue customer balances, ensuring appropriate collection actions are taken within required timelines.
• Review Aging Reports, analyze overdue balances, and identify high-priority accounts for collection.
• Monitor payment plans and schedules, ensuring customer compliance with agreed payment dates and installments.
• Reconcile collected amounts with bank records and the accounting system, ensuring accurate recording and allocation of payments to customer accounts.
• Follow up on delinquent customers and high-risk accounts, providing recommendations in coordination with relevant departments.
• Utilize negotiation and communication skills to manage discussions with customers and brokers regarding outstanding balance settlements and payment plans.
• Supervise the performance of Collection Team members, assign tasks, monitor progress, and provide observations and recommendations regarding team performance.
• Follow up on accounts referred to the Legal Department or external collection agencies, ensuring all required procedures are completed and collection outcomes are monitored.
• Carry out work-related instructions and assignments issued by the Department Manager or their authorized representative, within the scope of the position's responsibilities.

Qualifications and Experience

• A minimum of 2-5 years of experience in a collections role, preferably within the insurance sector.
• Demonstrated ability to supervise and manage a team.
• Strong understanding of collection processes, policies, and procedures.

Required Skills

• Excellent negotiation and communication skills.
• Strong analytical skills for reviewing aging reports and identifying priorities.
• Proficiency in reconciling financial records and utilizing accounting systems.
• Ability to work effectively with various internal departments and external agencies.

Work Environment

This is a full-time position based in Al Khobar, Eastern Region. The Collections Supervisor will work within a dedicated team, contributing to the company's commitment to customer service and financial management.