Bancassurance Reconciliation Officer

• University degree from a recognised university.

• A Certificate in Insurance (CIU). A diploma in insurance will be an added advantage.

• At least 1 year experience a reconciliation role in insurance operations or finance.

• Knowledge of practical application insurance covers.

• Thorough knowledge of the financial services industry

• High level of integrity and ethical standards

• Attention to detail, excellent analytical skills, and ability to demonstrate a high degree of accuracy.

• Excellent interpersonal, verbal, written, communications and independent judgement skills.

• Good organisational.

• Excellent negotiation.

• Conflict resolution skills

• University degree from a recognised university.

• A Certificate in Insurance (CIU). A diploma in insurance will be an added advantage.

• At least 1 year experience a reconciliation role in insurance operations or finance.

• Knowledge of practical application insurance covers.

• Thorough knowledge of the financial services industry

• High level of integrity and ethical standards

• Attention to detail, excellent analytical skills, and ability to demonstrate a high degree of accuracy.

• Excellent interpersonal, verbal, written, communications and independent judgement skills.

• Good organisational.

• Excellent negotiation.

• Conflict resolution skills

• The Bancassurance Reconciliation Officer oversees the reconciliation process for transactions between the bank and insurance partners.

• Monitor premium collection for all issued policies, renewals and monitor liens for unpaid insurance and provide recommendations to improve premium collection.

• Reconcile all Insurance Suspense accounts including commission & claims accounts and ensure payments are posted to the P&L accounts.

• Process refunds of unused premiums to ensure value for money for the customer.

• Reconcile all issued policies against premium collections, outstanding premiums, received and outstanding commissions to identify any discrepancies.

• Maintain accurate and up-to-date records across multiple platforms, including the insurance portal, Finacle, and shared drives. This includes documenting new insurance policies, renewals, commissions, and other related information.

• Prepare regular reports on bancassurance reconciliation activities, including reconciliation status, outstanding items, and resolution progress, for management review.

• Ensures compliance with the Bank’s policies, procedures and Regulatory guidelines and requirements.

• Process Improvement: Identify opportunities for process improvements to enhance the efficiency, accuracy, and effectiveness of Bancassurance reconciliation procedures.