Credit Control Assistant (1 Year Fixed-Term Contract) – Nairobi, Kenya

Credit Control Assistant (1 Year Fixed-Term Contract) – Nairobi, Kenya

Job Summary:

Are you a detail-oriented individual with a knack for numbers? We’re seeking a Credit Control Assistant to join our team on a 1-year fixed-term contract. In this role, you’ll play a vital part in our financial operations, focusing on accounts payable, receipting, reinsurance, fixed assets, taxation, intercompany transactions, bank reconciliations, and general ledger reconciliations. If you’re ready to make an impact in a dynamic environment, apply now!

Key Responsibilities:

Monthly Reconciliation:

• Conduct monthly reconciliation for all debtor balances between the Line of Business system and ERP.
• Prepare monthly debtors report and ensure proper aging of debt.
• Coordinate with appointed debt collectors for uncollectable debt.

Debtor Management:

• Distribute debtor statements to intermediaries, sales, and underwriting teams, addressing any arising matters.
• Draft and issue demand letters to intermediaries, ensuring timely follow-up on suspension and cancellation.
• Collaborate with relevant teams for regular account reconciliation and sign-offs.

Premium Processing:

• Ensure prompt receipting of all premiums received.
• Facilitate timely and accurate payment of monthly and weekly commissions to intermediaries.
• Compile regional, branch, and unit managers’ override payment files monthly.

Reporting and Compliance:

• Prepare quarterly IFRS 17 debtor movement reports.
• Review and maintain up-to-date medical accruals.
• Address intermediary queries promptly and accurately.
• Process premium refunds and incentives/admin fees payments in a timely manner.

Auditing and Support:

• Respond promptly to auditor requests, ensuring compliance and transparency.
• Attend weekly credit control meetings, providing full support for debt collection initiatives.
• Collaborate with the IT team on system enhancements and automation.

Key Performance Measures:

• Achieve objectives outlined in your Personal scorecard.

Requirements:

Education and Experience:

• Bachelor’s degree in a business-related field.
• CPA(K) or equivalent accounting profession qualification.
• 2-3 years of experience in accounting, preferably in a similar role.
• Familiarity with ERP AP systems; experience with Oracle Financials is advantageous.

Skills and Competencies:

• Proficiency in business solutions software and strong computer skills.
• Excellent analytical and problem-solving abilities.
• Knowledge of insurance regulatory requirements and products.
• Sales and marketing management skills.

Application Details:

Location: Nairobi, Kenya

Type: Contractual, Full-time

Shift: Day Job

Posting Date: 22-02-2024

Application Deadline: 29-02-2024

Number of Openings: 1

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Expert Tips To Be A Successful Applicant for Credit Control Assistant Role:

1. Highlight Relevant Experience: Tailor your resume to showcase accounting experience, emphasizing responsibilities related to credit control and financial reconciliation.
2. Demonstrate Technical Skills: Showcase proficiency in ERP systems and accounting software, underscoring your ability to navigate complex financial systems.
3. Emphasize Analytical Abilities: Provide examples of times when you’ve demonstrated strong analytical and problem-solving skills, essential for effective credit control.
4. Showcase Compliance Knowledge: Discuss your understanding of regulatory requirements in the insurance industry, demonstrating your ability to ensure compliance.
5. Illustrate Communication Skills: Highlight instances where you’ve effectively communicated with stakeholders, resolving queries and facilitating smooth financial operations.
6. Discuss Team Collaboration: Describe your experience collaborating with cross-functional teams, showcasing your ability to work collaboratively towards common goals.
7. Highlight Achievements: Quantify your achievements in previous roles, emphasizing improvements in debt collection efficiency or accuracy in financial reporting.
8. Express Interest in Continuous Learning: Demonstrate a willingness to learn and adapt to new technologies and processes, showcasing your commitment to professional growth.
9. Research the Company: Familiarize yourself with our organization and industry, aligning your application with our company culture and values.
10. Prepare for Interview Success: Anticipate common interview questions and prepare thoughtful responses, showcasing your suitability for the Credit Control Assistant role.

SAMPLE COVER LETTER FOR A CREDIT CONTROL ASSISTANT POSITION:

[Your Name]

[Your Address]

[City, State, Zip Code]

[Your Email Address]

[Your Phone Number]

[Date]

[Hiring Manager’s Name]

[Company Name]

[Company Address]

[City, State, Zip Code]

Dear [Hiring Manager’s Name],

I am writing to express my interest in the Credit Control Assistant position at [Company Name], as advertised. With a Bachelor’s degree in Accounting and over three years of experience in financial reconciliation and credit control, I am confident in my ability to contribute effectively to your team.

In my previous role at [Previous Company Name], I successfully managed monthly debtor reconciliations, ensuring accurate reporting and timely follow-up on outstanding debt. My proficiency in ERP systems, coupled with strong analytical skills, allowed me to streamline processes and identify areas for improvement, ultimately enhancing efficiency by 20%.

I am particularly drawn to [Company Name]’s commitment to excellence and innovation in the insurance industry. I am eager to leverage my skills and experience to support your credit control operations and contribute to your continued success.

Thank you for considering my application. I look forward to the opportunity to discuss how my background, skills, and passion align with the needs of your team.

Warm regards,

[Your Name]

Frequently Asked Questions:

Q1: What are the primary responsibilities of a Credit Control Assistant? A1: A Credit Control Assistant is primarily responsible for accounts payable, receipting, reinsurance, fixed assets, taxation, intercompany transactions, bank reconciliations, and general ledger reconciliations.

Q2: What qualifications are required for the Credit Control Assistant role? A2: The ideal candidate should possess a Bachelor’s degree in a business-related field, a CPA(K) or equivalent accounting profession qualification, and 2-3 years of accounting experience in a similar role.

Q3: What technical skills are necessary for this position? A3: Proficiency in ERP systems, strong computer skills, and familiarity with business solutions software are essential for the role of Credit Control Assistant.

Q4: How important is compliance knowledge in this role? A4: Compliance knowledge is crucial for ensuring adherence to regulatory requirements in the insurance industry, making it an essential aspect of the Credit Control Assistant position.

Q5: What are some key performance measures for this role? A5: Key performance measures include achieving objectives outlined in the Personal scorecard, ensuring accurate financial reporting, and facilitating timely debt collection.

Q6: How can candidates demonstrate their suitability for this role during the application process? A6: Candidates can demonstrate their suitability by highlighting relevant experience, technical skills, analytical abilities, and compliance knowledge in their application materials.

Q7: What opportunities for professional growth are available in this position? A7: This position offers opportunities for professional growth through exposure to complex financial operations, collaboration with cross-functional teams, and ongoing learning and development initiatives.

Q8: How does the Credit Control Assistant contribute to the company’s overall objectives? A8: The Credit Control Assistant plays a vital role in ensuring the financial health of the company by managing debtor balances, facilitating timely payments, and supporting compliance with regulatory requirements.

Q9: What qualities are you looking for in candidates for this role? A9: We are seeking candidates who are detail-oriented, analytical, and proactive, with strong communication skills and a commitment to excellence in financial operations.

Q10: How does [Company Name] support diversity and inclusion in the workplace? A10: [Company Name] is committed to attracting and retaining the best employees from all backgrounds and fostering an inclusive work environment where diversity is celebrated and valued.

Possible Credit Control Assistant Interview Questions With Answers:

Q1: Can you walk us through your experience with financial reconciliation and credit control? A1: Certainly. In my previous role at [Previous Company Name], I was responsible for conducting monthly debtor reconciliations, ensuring accuracy and timeliness in reporting. I also collaborated with debt collectors to address uncollectable debt and streamline collection processes.

Q2: How do you prioritize tasks when dealing with multiple deadlines? A2: When faced with multiple deadlines, I prioritize tasks based on urgency and importance. I use tools like to-do lists and calendar reminders to stay organized and ensure timely completion of tasks.

Q3: How do you ensure compliance with regulatory requirements in your role? A3: I stay updated on relevant regulations and guidelines in the insurance industry through continuous learning and professional development. I also collaborate with compliance teams to ensure adherence to regulatory requirements in all aspects of my work.

Q4: Can you provide an example of a time when you identified and resolved an issue in the credit control process? A4: Certainly. In a previous role, I noticed discrepancies in debtor balances during a routine reconciliation. After investigating the issue, I discovered a data entry error and worked with the relevant teams to rectify the mistake, ensuring accurate reporting moving forward.

Q5: How do you approach communication with stakeholders, particularly when addressing queries or concerns? A5: I believe in clear and proactive communication with stakeholders. When addressing queries or concerns, I ensure timely responses and provide detailed explanations to ensure understanding and build trust with stakeholders.

Q6: How do you stay updated on industry trends and best practices in credit control? A6: I stay updated on industry trends and best practices through professional networks, industry publications, and attending relevant conferences and seminars. I also participate in online forums and webinars to expand my knowledge and stay informed of emerging trends.

Q7: Can you discuss a challenging situation you encountered in credit control and how you handled it? A7: Certainly. In a challenging situation where we faced resistance from debtors in settling outstanding balances, I adopted a proactive approach by initiating direct communication with the debtors. Through negotiation and compromise, we were able to reach mutually acceptable payment arrangements, ultimately resolving the issue amicably.

Q8: How do you ensure accuracy and attention to detail in your work? A8: I prioritize accuracy and attention to detail by double-checking my work, using tools like spreadsheets and accounting software to minimize errors, and seeking feedback from colleagues or supervisors when necessary.

Q9: How do you handle high-pressure situations, such as tight deadlines or complex financial issues? A9: I thrive in high-pressure situations by maintaining a calm and focused demeanor, prioritizing tasks effectively, and seeking support from colleagues or supervisors when needed. I also break down complex issues into manageable steps to tackle them methodically.

Q10: How do you contribute to a collaborative team environment in your previous role? A10: In my previous role, I actively participated in team meetings, shared knowledge and expertise with colleagues, and volunteered to assist teammates with their tasks when my workload allowed. I believe in fostering a collaborative team environment where everyone feels valued and supported.

Best wishes on your application! We’re excited to welcome new talent to our team and look forward to reviewing your application. Remember, at Britam, we are committed to attracting and retaining the best employees from all races and backgrounds in our continued effort to become a better development partner. We are an equal opportunity employer and do not charge any application or recruitment fees, whether refundable or not.

THE KENYAN JOBFINDER