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| POSITION DESCRIPTION | GENERAL INSURANCE INDUSTRY NOVEMBER 2008 |
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Claims Recovery Officer |
| Position Code: | 2360 | | Career Level: | 2 |
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Responsible for
Maximising the Recovery of debt through diligent and effective actioning of an assigned portfolio of debt files. |
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Reports To
Claims Recovery Team Leader. |
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Supervises
No supervisory responsibilities. |
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Main Activities
Reviewing incoming files for liability and entering potentially recoverable files into the computer system.
Pursuing and negotiating either verbally or through written communication with a debtor and/or their advisers a satisfactory conclusion regarding outstanding debts.
Maximising the rate of recovery amounts from responsible third parties.
Maintaining and administering files detailing the status of debtors financial affairs.
Instructing Solicitors on the action to be taken for Recovery of debt as authorised by Management and corresponding with debtors and their counsel as required.
Negotiating and settling with third parties of the organisation's insured’s liability consistent with common law principles of contributory negligence and relevant legislation / acts, and in accordance with company policy.
Making payments to clients, third parties, insurers and/or legal representatives within authority limits.
Liaising with customers/intermediaries/business units.
Conducting inquiries/searches to locate missing debtors.
Referring complex claims to Team Leader.
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Key Skills
Comprehensive knowledge of collection procedures.
Effective negotiation and communication skills.
Working knowledge of legislation affecting collections.
Comprehensive knowledge of liability issues and electronic debt collection system.
Time management and analytical skills.
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Internal Contacts
Claims; Finance; Legal. |
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External Contacts
Debtors or their representatives, Solicitors and Trustees. |
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Typical Experience
1 - 3+ years experience in industry. Degree or AAII qualification or studying towards the same. |
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Other Comments
Alternative Title: Debt Recovery Officer, Collections Officer. |
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