Claims and Recovery

Job Purpose

The role holder is responsible for guiding the effective and accurate assessment, administration and fair settlement of valid claims submitted by customers in line with the established claims and recovery guidelines. This role will also be responsible for the provision of requisite support to the Head, Claims and Recovery in all the recovery operations for all claims paid in line with defined recovery management procedures.

Key Responsibilities

Claims

• Complies with the guidelines and leads the collection of relevant information for investigation of claim submitted.
• Participates and guides the investigation of submitted claim to analyse the eligibility and verification of submitted claim based on the defined policy terms.
• Coordinates with key stakeholders from Underwriting to solicit any additional information required for analysis of claim submitted.
• Participates in the investigation of the claim submitted by the policyholder and examines reason for non-payment, part payment or delay in payment by buyer in line with established guidelines for recovery or for writing-off the claim.
• Attempts to settle the claim in an amicable manner with the involved stakeholders to ensure safeguarding of the Corporation’s interest and minimize the loss for the Corporation and policyholder.
• Ensures all claims involving legal procedures are handed over to the Legal Department and supports the Lawyers by providing all relevant information.
• Ensures claims notification and settlement in compliance with the policy terms and conditions, regulatory requirements and organizational guidelines governing the claims procedure.
• Ensures all valid claims are settled fairly and documents the case for future reference and to provide inputs on improvement of product.
  
  

Recovery

• Participates in the recovery process and liaises with buyer as and when required for recovery of payment, in line with established guidelines for the recovery process, and provides relevant information to the Legal Department team as and when required for recovery of payment.
• Examines the method for recovery of claim i.e. through mutual agreement, through recovery agents or through Legal procedure while ensuring compliance with the organization procedures.
• Works in close coordination with relevant stakeholders from Legal Department for soliciting legal inputs in the recovery process.
• Forwards all recovery cases requiring Legal intervention to the Legal Department to assess the best possible low-cost recovery approach to maximize the recovery for ICIEC.
• Ensuresadherencetolow-costrecoveryapproachestomaximizetherecoveryforICIEC.
• Maintains good relations with recovery debt collection agencies, lawyers, and other partners to aid in low-cost recovery of claims
  
  

Departmental Responsibilities

• Participates in the development and implementation of the Legal Affairs Department plans with respect to Claims and Recoveries, in line with the corporate objectives.
• Manages the implementation of Legal Affairs mandates, providing leadership and facilitating work processes in order to achieve high performance standards.
• Provides inputs in establishing strategic objectives and formulating work program of the department.
• Ensures compliance with organizational policies, procedures and quality standards in the Legal Affairs Mandates.
• Ensures the maintenance of records, file and data management of losses reported and claims paid.
• Conducts the exercise to measure financial impact of claims and recommend appropriate actions to avoid, retain or transfer the risk.
• Projects and calculates expected losses and make recommendation to the Management for setting loss reserves.
• Designs and maintains loss reports and monitors claim trends.
• Communicates with clients, obligors, banks and all other interested parties in claim processing.
• Provides support in the development of ICIEC policies, guidelines, systems, procedures and tools related to claims and recoveries.
  
  

Policy development

• Proposes and designs appropriate amendments to ICIEC’s instruments including rules, policies, guidelines and regulations etc with respect to claims and recoveries.
• Monitors new developments, including the enactment of new legislations and court decisions and evaluate their impact upon claims and recoveries in the Corporation.
• Participates in various high-level policy-related committees established by the management of the Corporation.
  
  

Legal Documents Processing

• Provides technical guidance to legal counsels with respect to the negotiation, review, drafting, clearance, amendment of policies and all legal documents and formal arrangements pertaining to the claims and recoveries activities of the Corporation, including among others: MoUs and cooperation agreements; non-disclosure agreements; agreements related to hiring of debt collection agencies, law firms, actuaries, consultants, surveyors, and other claim and recovery experts; and retainer documents.
  
  

Support to Legal Affairs

• Provides technical guidance on claims and recovery to legal counsels with respect to advising and assisting client departments in the structuring of projects, finance and investment transactions and undertake review of concept notes, appraisal reports, board documents etc.
• Provides technical guidance on claims and recovery to legal counsels regarding interpretation and application of the Corporation’s instruments (Articles of Agreement, rules and regulations, policies, guidelines, resolutions, instructions etc.) and other contractual documents (financing agreements, procurement contracts etc.).
• Prepares technical opinions as may be requested by the management of the department and the Corporation.
• Assists the Manager, LAD in coordination and quality control of technical services.
• Leads technical negotiations with external counterparts.
• Leads the provision of technical support to Member States in connection with matters pertaining to claims and recovery objectives of the Corporation.
• Leads product development initiatives and handle high technical projects.
• Leads the provision of technical assistance to Member Countries in connection with matters pertaining to the purpose, functions and activities of the Corporation in relation to claims and recoveries.
  
  

Reporting

• Reviews recovery report and identifies trends from recovery metrics through various MIS and analytics, and defines action plans to minimize delinquencies and maintain health of portfolio
• Reviews and presents monthly management reports on claims, operating costs, claim exposures, loss ratio, etc.
  
  

People Management Responsibilities

• Defines goals and key performance indicators for each member of the team and ensures effective application of the Corporation Performance and Development Review process.
• Ensures high level of employee engagement and capability development by providing on-going feedback and coaching team members
  
  

Job Requirements

Field of Study

• Insurance/Economics/Finance/Law/Business administration (Legal background preferred)
  
  

Academic Qualifications And Relevant Experience

Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree

Doctorate

Experience

8 Years

6 Years

4 Years

Nature of Experience

• 3-5 Years Prior experience in managing claims and recovery operations or risk underwriting, preferably in Export Credit Insurance/Banking Industry.
  
  

Professional Certifications (as applicable)

• N/A
  
  

Business Language Skills

• Good command of written and spoken English essential, additional languages such as Arabic, French is an added advantage
  
  

Generic Key Performance Indicators

• Cumulative recovery ratio
• Turnaround time to settle claims
• Average cost for claims recovery
• Quality of claim submission and claims and recoveries reports
  
  

Core Competencies

Competency

Proficiency

Focus on Customers

Applying

Drive Results

Applying

Collaborate as One Team

Applying

Strive for Continuous Improvement

Applying

Serve and Respect All

Applying

Leadership Competencies

Competency

Proficiency

Shape the Future

N/A

Engage Talent

N/A

Enable Change

N/A

Technical Competencies

Competency

Proficiency

Knowledge of Insurance Laws and Contracts

Intermediate

Awareness of the Legal Environment

Basic

Knowledge of Arbitration Procedures

Intermediate

Knowledge of Legal Drafting and Contracting Norms

Intermediate

ICIEC Business Knowledge

Advance

ICIEC Product Knowledge

Advance

Awareness of Member Countries

Advance

Knowledge Sharing

Advance

Communication and Presentation Skills

Advance

Business Acumen

Advance

Risk Management

Advance

Technological Adaptability

Advance

Customer Relationship Management

Advance

Knowledge of Billing, Invoicing and Claims procedures

Expert

Knowledge of Insurance Information Management System (IIMS)

Expert

Knowledge of Claims Verification Procedures

Expert

Investigation and Examination Skills

Expert

Knowledge of Claims Settlement Procedures

Expert

Knowledge of Recovery Procedures

Expert

KEY INTERACTIONS

Required Level of Interaction

• Influence - Adapts style and uses persuasion in delivering messages. Issues may be complex or audience perspectives may be divergent or information may be non-routine in nature.
  
  

Key Internal Interaction

Nature of Interaction

Commercial/ Sovereign Underwriters

• For coordinating with relevant Underwriters involved to solicit relevant information about the transaction and parties involved
• Provide inputs to underwriters on review of potential or existing insured claim experience
• Suggest improvements in policy wording, process and procedures
  
  

Insurance Operations Legal

• For coordinating all matters related to legal procedures involved in cases of claim settlement and recovery process as and when required
  
  

Country Managers

• For coordinating actions with policyholders
  
  

Specialist, Policy Administration

• For coordinating actions with policyholders
  
  

Policyholders

• For collating relevant information about the claim filed and soliciting requisite information for verification of claim
• Attend client meeting if required to explain claims philosophy and approach to claim handling
  
  

Buyers

• For coordinating on all matters pertaining to recovery operations, identifying reasons for non- payment and identifying innovative for recovery
  
  

Debt Collection Agencies

• Liaise with DCAs to increase the rate of recoveries
  
  

WORKING CONDITIONS

Location

• Jeddah
  
  

Travel Needed

• Yes
  
  

Specific Working Conditions

• N/A
  
  

About Application Process

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

• Resume/CV
• Passport-size photograph