Debt Collector Recovery📣 Job Ad

About the Role

Mutakamela Insurance, a prominent entity in Saudi Arabia's insurance sector, is seeking a dedicated Debt Collector Recovery professional to join its team in Riyadh. This full-time position is integral to maximizing financial recoveries for the company.

Role Overview

The Debt Collector Recovery role is responsible for identifying and pursuing opportunities to recover funds from third parties involved in accidents or losses. This involves employing legal actions, negotiation strategies, and coordination with various stakeholders to achieve optimal recovery outcomes. The core challenge lies in navigating complex legal frameworks and negotiation processes to secure favorable results.

Key Responsibilities

• Identify potential recovery opportunities from third parties involved in accidents or losses.
• Initiate legal action when necessary to recover funds.
• Negotiate settlements with third-party entities.
• Maintain accurate records of recovery efforts and outcomes.
• Prepare reports on recovery activities and results.
• Ensure compliance with all relevant laws and regulations related to claims recovery.
• Extract weekly reports from the system.
• Contact individuals to collect recovery amounts.
• Visit government centers and coordinate for fund collection.
• Follow up with insurers on a weekly and monthly basis to collect amounts.
• Achieve targets set by management.
• Update the system with collected amounts.
• Issue Debit Notes (D/N) and discharges systematically.
• Coordinate with the Finance department for the allocation of collected funds.
• Provide daily, weekly, and monthly reports.

Required Qualifications and Experience

• Bachelor's degree in business administration, insurance, or a related field.
• 2-5 years of experience in insurance claims processing or a related field.
• Experience with legal procedures and negotiations.
• Experience in data analysis and reporting.
• Professional certifications in insurance or claims handling may be beneficial.

Essential Skills and Attributes

• Basic understanding of legal principles related to claims recovery.
• Understanding of insurance products, coverage, and claims processes.
• Effective negotiation skills to secure favorable settlements.
• Ability to analyze data related to recovery efforts.
• Effective communication skills to interact with legal counsel, third-party entities, and internal stakeholders.
• Willingness to pursue recovery efforts in complex or challenging cases.
• Ability to identify and resolve issues related to claims recovery.
• Meticulous attention to detail in documenting recovery efforts and tracking progress.
• Ability to collaborate with other departments within the company.

Work Environment

This is a full-time position based in Riyadh. The role requires active engagement with internal teams and external parties to achieve recovery objectives.