Recovery Collection Section Manager

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company stands as a distinguished public joint-stock entity established in the Kingdom of Saudi Arabia, authorized by a decision from the Council of Ministers and a royal decree. With a robust paid-up capital of 500 million Saudi Riyals, the company represents the evolution of United Insurance Company, which originated in the Kingdom of Bahrain in 1983 as a foreign entity licensed to conduct insurance operations in Saudi Arabia. Following its transformation into a cooperative insurance company and subsequent public listing in 2008, Al Etihad became a publicly traded entity on the Saudi Stock Exchange (Tadawul) under the ticker symbol 8170. The company operates under the stringent supervision and regulation of the Saudi Insurance Authority, holding licenses to provide a comprehensive range of insurance products, including general insurance, medical insurance, motor insurance, and protection & savings insurance.

Al Etihad’s unwavering commitment to excellence and customer-centric service has positioned it as a trailblazer in the Saudi insurance sector. The company boasts an extensive network of offices and regional branches strategically located across the Kingdom to ensure accessibility and convenience for its valued clientele. Backed by a highly skilled and dedicated team, Al Etihad consistently delivers superior service standards, fostering trust and long-term relationships with its customers.

Key Qualifications and Requirements

• Location: Head Office – Al Khobar
• Experience: Minimum of 7 years in the insurance industry, with a proven track record in recovery and collection processes.
• Education: Bachelor’s degree or equivalent diploma in a relevant field.
• Language Proficiency: Fluency in English, both written and spoken, is essential.
• Nationality: Open exclusively to Saudi nationals.

Core Responsibilities

As the Recovery Collection Section Manager, you will play a pivotal role in overseeing and optimizing the company’s receivables management processes. Your leadership will be instrumental in driving efficiency, ensuring timely collections, and maintaining robust financial health for the organization. Your key responsibilities will include:

• Team Leadership and Coordination: Directly supervising and managing a team of recovery collection supervisors, including work planning, coordination, and continuous performance monitoring at the company level.
• Strategic Collection Planning: Developing and implementing a comprehensive plan for the collection of the company’s receivables, aligned with organizational objectives and industry best practices.
• Policy Formulation and Escalation Management: Establishing clear policies and procedures for claims escalation and handling client payment delays, in strict adherence to the company’s established collection system.
• Inter-Company Reimbursement Oversight: Monitoring and managing reimbursement transactions with other insurance companies to ensure the timely collection and recovery of funds owed to Al Etihad.
• Cross-Departmental Collaboration: Working closely with all internal departments to meet the operational and strategic requirements of the Recovery Collection Section.
• Reporting and Documentation: Preparing and submitting accurate, timely reports on collections, outstanding client balances, and recovery activities to relevant stakeholders and management.
• Task Distribution and Performance Management: Ensuring the equitable and efficient distribution of client-related tasks among team members and setting annual performance targets in alignment with company goals.
• Technical Record Review: Evaluating technical records related to reimbursements under settlement and collected reimbursements to ensure accuracy, compliance, and financial integrity.

This role offers a unique opportunity to contribute to the financial stability and growth of Al Etihad Cooperative Insurance Company while leading a dynamic team in a fast-paced and rewarding industry. If you are a seasoned professional with a passion for insurance and a commitment to excellence, we invite you to join our team and make a lasting impact.