IDB3447 - Senior Specialist - 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 linewith the establishedclaims andrecovery 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

• Complieswiththeguidelinesandleadsthecollectionofrelevantinformationforinvestigationofclaimsubmitted.

• 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.

• Attemptstosettletheclaiminanamicablemannerwiththeinvolvedstakeholderstoensuresafeguardingofthe 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 byproviding 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.

• Ensuresallvalidclaimsaresettledfairlyanddocumentsthecaseforfuturereferenceandtoprovideinputson improvement of product.

Recovery

• Participates in the recovery process and liaises with buyer as and when required for recovery of payment, in line with establishedguidelinesfortherecovery process,andprovidesrelevantinformationtotheLegalDepartmentteam asand 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 inlow-cost recovery of claims

DepartmentalResponsibilities

• 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.

• Providesinputsinestablishingstrategicobjectivesandformulatingworkprogramofthedepartment.

• Ensurescompliancewithorganizationalpolicies,proceduresandqualitystandardsintheLegalAffairsMandates.

• Ensuresthemaintenanceofrecords,fileanddatamanagementoflossesreportedandclaimspaid.

• Conductstheexercisetomeasurefinancialimpactofclaimsandrecommendappropriateactionstoavoid,retainor transfer the risk.

• ProjectsandcalculatesexpectedlossesandmakerecommendationtotheManagementforsettinglossreserves.

• Designsandmaintainslossreportsandmonitorsclaimtrends.

• Communicateswithclients,obligors,banksandallotherinterestedpartiesinclaimprocessing.

• Provides support in the development of ICIEC policies, guidelines, systems, procedures and tools related to claims and recoveries.

Policydevelopment

• ProposesanddesignsappropriateamendmentstoICIEC’sinstrumentsincludingrules,policies,guidelinesandregulations 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.

• Participatesinvarioushigh-levelpolicy-relatedcommitteesestablishedbythemanagementoftheCorporation.

LegalDocumentsProcessing

• Provides technical guidanceto legalcounsels withrespecttothe 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.

SupporttoLegalAffairs

• 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’sinstruments(ArticlesofAgreement,rulesandregulations,policies,guidelines,resolutions,instructionsetc.) and other contractual documents (financing agreements, procurement contracts etc.).

• PreparestechnicalopinionsasmayberequestedbythemanagementofthedepartmentandtheCorporation.

• AssiststheManager,LADincoordinationandqualitycontroloftechnicalservices.

• Leadstechnicalnegotiationswithexternalcounterparts.

• Leads the provision of technical support to Member States in connection with matters pertaining to claims and recovery objectives of the Corporation.

• Leadsproductdevelopmentinitiativesandhandlehightechnicalprojects.

• 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

• ReviewsrecoveryreportandidentifiestrendsfromrecoverymetricsthroughvariousMISandanalytics,anddefinesaction plans to minimize delinquencies and maintain health of portfolio

• Reviewsandpresentsmonthlymanagementreportsonclaims,operatingcosts,claimexposures,lossratio,etc.

PeopleManagementResponsibilities

• Definesgoalsandkeyperformanceindicatorsforeachmemberoftheteamandensureseffectiveapplicationofthe 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

KEY INTERACTIONS

WORKING CONDITIONS

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):

1. Resume/CV
2. Passport-size photograph