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.
• Ensures adherence to low-cost recovery approaches to maximize the recovery for ICIEC.
• 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

• 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

• Focus on Customers - Applying
• Drive Results - Applying
• Collaborate as One Team - Applying
• Strive for Continuous Improvement - Applying
• Serve and Respect All - Applying

Leadership Competencies

• Shape the Future - N/A
• Engage Talent - N/A
• Enable Change - N/A

Technical Competencies

• 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.
• 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.
• 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

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