Recovery Collection Section Manager

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 Council of Ministers decision and royal decree, the company has a paid-up capital of 500 million Saudi Riyals. It is an extension of United Insurance Company, founded in Bahrain in 1983, and was listed on the Saudi Stock Exchange (Tadawul) in 2008 under symbol 8170. The company is regulated by the Saudi Insurance Authority and licensed for general, medical, motor, and protection & savings insurance. With a wide network of offices and a dedicated team, Al Etihad Cooperative Insurance Co is recognized as a pioneer in the Saudi insurance industry.

The Role of Recovery Collection Section Manager

Al Etihad Cooperative Insurance Co is seeking a Recovery Collection Section Manager to join its team in Al Khobar, Eastern, Saudi Arabia. This full-time role involves leading and managing the recovery collection operations, ensuring the effective collection of company receivables and reimbursements. The manager will be responsible for developing collection strategies, monitoring transactions, and coordinating with various departments to meet collection objectives.

Key Responsibilities

• Provide direct supervision and plan work for recovery collection supervisors, including coordination and ongoing follow-up.
• Develop and implement appropriate plans for the collection of the company’s receivables.
• Formulate escalation policies for claims and establish necessary procedures for delayed client payments, in line with the established collection system.
• Monitor reimbursement transactions with other insurance companies and ensure the collection and recovery of funds owed to the company.
• Coordinate with all internal departments to fulfill departmental requirements.
• Submit accurate and timely reports on collections and outstanding client balances to relevant stakeholders.
• Ensure the correct distribution of client-related tasks among team members.
• Distribute the annual collection target among employees.
• Review technical records related to reimbursements under settlement and collected reimbursements.

Qualifications and Experience

• A minimum of 5 to 10 years of relevant experience in recovery and collection management.
• Demonstrated ability to develop and implement collection strategies and policies.
• Strong understanding of insurance claims and reimbursement processes.
• Proven leadership skills in supervising and coordinating team activities.

Work Environment and Location

This is a full-time position based in Al Khobar, Eastern, Saudi Arabia. The role requires collaboration across various departments and direct supervision of a team, contributing to the company's financial recovery objectives.