Credit Controller – Nairobi, Kenya – 2024

Credit Controller – Nairobi, Kenya – 2024

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• Position: Credit Controller
• Company: First Reinsurance Brokers Africa Ltd
• Location: Nairobi, Kenya
• Type of Job: Full-Time
• Reporting to: GFC (General Finance Controller) or MD (Managing Director)
• Application Deadline: November 5, 2024

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Introduction

First Reinsurance Brokers Africa Ltd is seeking an experienced Credit Controller to join our team in Nairobi, Kenya. This full-time role is integral to our financial operations, focusing on maintaining accurate accounts and facilitating smooth credit processes with clients. As a Credit Controller with First Reinsurance Brokers, you’ll experience growth opportunities in insurance and risk management, contributing to a team that values precision, accountability, and customer-centric service. This position is onsite, requiring interaction with multiple departments and close collaboration with senior finance personnel.

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Key Responsibilities

• Proactively follow up on outstanding debts, ensuring timely payments within the designated credit period.
• Reconcile debtor and creditor statements to maintain accurate financial records.
• Update and send statements biweekly to clients, ensuring up-to-date account status.
• Ensure payment breakdowns are received and allocate receipts promptly.
• Address client queries related to debt, providing solutions that align with company standards.
• Raise and post journal entries in designated accounts, maintaining organized and accessible records.
• Reconcile allocated General Ledger (GL) accounts to ensure accuracy.
• Assist in audit preparations, responding to audit queries to ensure compliance.
• Prepare and circulate reports to provide insights into financial performance.
• Process premium payments and maintain up-to-date records.
• Perform additional tasks as directed by the GFC or MD.

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What You Will Need

Core Skills and Abilities

• Strong Communication and Negotiation Skills: Effectively engage clients to facilitate debt collection and address related queries.
• Analytical Abilities: Conduct thorough reconciliations and assess account accuracy.
• Multitasking Proficiency: Handle multiple client accounts while adhering to timelines.
• Team Player: Collaborate effectively with team members and other departments.
• Adaptability at All Levels: Confidently work with personnel at varying levels within the organization.
• Proactive and Self-Driven: Demonstrate initiative in problem-solving and daily tasks.

Qualifications

• University Degree in Commerce, Finance, or Business Administration.
• Professional Certification in CPA, ACCA, or Credit Management.
• Minimum 5 Years of credit control experience, preferably within the financial sector.

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Company Culture and Values

At First Reinsurance Brokers Africa Ltd, we prioritize integrity, collaborative work culture, and a strong commitment to customer satisfaction. Our culture supports growth and fosters an environment where proactive team members thrive. We are dedicated to providing quality services in insurance and risk management, upholding a reputation for excellence and reliability.

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Apply Now for Credit Controller at First Reinsurance Brokers Africa Ltd

To apply, please submit your resume and a cover letter detailing your experience in credit control and finance. Only shortlisted applicants will be contacted.

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We are an equal opportunity employer and are committed to attracting and retaining the best employees from all backgrounds.

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Expert Tips to Be a Successful Applicant for the Credit Controller Position

As an experienced recruiter, here are 10 in-depth tips to help you excel in your application for the Credit Controller position at First Reinsurance Brokers Africa Ltd. These insights are tailored to provide concrete strategies, examples, and role-specific guidance for crafting a compelling application and interview response.

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1. Emphasize Your Credit Control and Debt Management Experience

• When detailing your experience, provide specific examples of managing outstanding debts. For instance, you might describe a situation where you managed to reduce overdue accounts by a significant percentage, e.g., “At [Previous Company], I reduced overdue accounts by 25% within three months by implementing a structured follow-up process for all outstanding invoices. This involved systematic calls, emails, and reminders to clients, as well as clear escalation steps.”
• Include quantifiable achievements. These could be monthly collection targets, specific financial metrics, or accounts handled. For instance, “Consistently achieved a monthly collection rate of 90%, exceeding the company target by 15%.”

2. Showcase Proficiency with Financial Software and Tools

• Mention specific financial tools or systems you’ve mastered, such as QuickBooks, SAP, Sage, or Oracle Financials. For example, “In my last role, I utilized QuickBooks for account reconciliation and Sage for generating real-time client statements, which significantly streamlined our financial reporting process.”
• Include any time-saving techniques you’ve developed for processing journal entries. For instance, “I automated our journal entry posting process by creating templates within SAP, which reduced posting time by 20% and minimized entry errors.”

3. Provide Detailed Examples of Communication Skills in Debt Collection

• Illustrate how you’ve handled sensitive debt-related client interactions. For example, “While addressing overdue accounts at [Previous Company], I successfully negotiated a revised payment plan with a major client. This reduced their debt incrementally without straining our professional relationship.”
• Highlight situations where your diplomacy and active listening helped in resolving complex debt issues. You might say, “When a client expressed dissatisfaction with our invoice breakdown, I initiated a call to understand their concerns, explained each line item, and resolved their issues promptly, resulting in the full payment within a week.”

4. Highlight Your Certifications and How They Enhance Your Expertise

• Certifications like CPA, ACCA, or Credit Management not only strengthen your qualifications but also reflect your commitment to professional growth. Mention how these certifications have equipped you for the role. For instance, “My ACCA certification deepened my understanding of credit risk assessment, allowing me to better evaluate client creditworthiness and forecast cash flows.”
• Show how you apply certification knowledge practically. “During audit preparation, I applied techniques from my CPA training, ensuring that all reconciliations were accurate and adhering to compliance standards.”

5. Demonstrate Problem-Solving Skills with Real-World Examples

• Think of a challenging situation where you successfully managed a complex reconciliation or recovered an overdue debt. Describe the approach you took, like this: “When a significant client’s payment was delayed due to a dispute, I coordinated a reconciliation meeting with their finance team, presented supporting documents, and reached an agreement that allowed us to recover 80% of the outstanding amount within two weeks.”
• Highlight your troubleshooting abilities and how you identify root causes. “After noticing recurring issues with certain client payments, I analyzed patterns in their payment history and identified common bottlenecks. By addressing these issues directly with the clients, we streamlined the payment process and improved collection times.”

6. Emphasize Multitasking and Time Management Abilities with Specific Examples

• Outline instances where you balanced multiple critical tasks, such as processing payments, preparing reports, and addressing client queries simultaneously. For example, “In my previous role, I managed bi-weekly report generation, daily client statement updates, and premium processing, all while coordinating responses to client debt queries.”
• Provide examples of prioritization techniques. “I implemented a priority system for client follow-ups based on outstanding amounts and aging, which allowed me to focus on high-impact accounts first, thereby reducing overdue amounts by 30% in high-priority cases.”

7. Use ATS-Friendly Keywords in Your Application

• Tailor your resume and cover letter with terms like “debt reconciliation,” “journal entry posting,” “credit analysis,” “premium processing,” and “financial reporting.” To optimize for ATS, incorporate both primary and long-tail keywords naturally. Example: “Experienced in debt reconciliation processes, particularly in premium processing and financial reporting, with a proven record in resolving complex credit issues.”
• Additionally, review the job description and incorporate its terminology precisely where it matches your skills to enhance ATS readability.

8. Demonstrate Knowledge of the Insurance and Financial Sector

• Show familiarity with the financial or insurance sector by referencing sector-specific knowledge. “At [Previous Insurance Company], I managed the credit control function for over 200 high-value clients, which required understanding of insurance-specific terms and complex premium calculations.”
• Mention any experience or understanding of risk management, reinsurance principles, or how credit impacts insurance. “I understand the nuances of credit management within the insurance industry, particularly the regulatory requirements and risk assessments needed for high-value policyholders.”

9. Explain Your Audit and Compliance Experience in Detail

• If you have audit preparation experience, mention specific compliance measures you implemented. For example, “In preparing for external audits, I designed a pre-audit checklist that ensured all reconciliations were updated and documentation was easily accessible. This checklist not only saved time but also reduced auditor follow-up questions by 40%.”
• Outline your role in facilitating a smooth audit process. “During the last fiscal year audit, I was responsible for preparing all General Ledger (GL) accounts for review, responding promptly to auditor inquiries, and making necessary adjustments within 24 hours.”

10. Highlight Teamwork and Cross-Functional Collaboration with Examples

• Provide examples of how you’ve worked with other departments. “While at [Company], I collaborated with sales and billing teams to resolve discrepancies in client invoices, reducing instances of payment delays by coordinating early issue resolution.”
• Emphasize adaptability by sharing examples of working effectively with colleagues at various organizational levels. “I frequently coordinated with senior management to present aging analysis reports, using these sessions to align collection strategies with company goals. My adaptability and communication skills helped bridge understanding across teams.”

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