Policy Administrator - Centurion, South Africa - Momentum Life

Momentum Life

Verified Company

Centurion, South Africa

3 weeks ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Introduction

Through our client-facing brands Metropolitan and Momentum, with Momentum Multiply (our wellness and lifestyle rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

Role Purpose

To administer and coordinate unallocated funds, cash in advance, and perform other administrative duties.

Requirements:

Qualification(s)
Matric or equivalent

Business related qualification preferred

Relevant product training

Knowledge
Knowledge of relevant systems, products and procedures.

Knowledge of relevant legislation.

Basic knowledge of finance (such as back account reconciliation and fund allocation)

Duties & Responsibilities

Outputs

INTERNAL PROCESS
Maintain day-to-day policy financial and fund allocation instructions and related operations.

Assess complex policy financial allocations, track and identify errors and correct accordingly where necessary.

Administer and monitor the financial system to ensure that the policy's records are maintained in an accurate and timely manner.

Coordinating policy activities and tax-related operations to ensure efficiency and compliance with company policies.

Ensuring that transactions, on which inquiries are raised, are executed to the required standards to minimize and/or mitigate risks for the business.

Support stakeholders such as Finance, Product Houses, and Group Forensics Service on efficient policy administrative projects and related requirements.

Identify possible money laundering and fraudulent actions and reporting thereof to Group Forensics Services, Risk and Compliance

Identify FICA documentation in accordance with Client Due Diligence processes and procedures.

Create and update records and related databases where applicable.

Ensure allocation of all contributions received on the Investo platform accurately and on time.

Request deposit reports from finance.

Get the allocation instruction from the client or intermediary.

Collate the instructions and allocate the funds accordingly.

Ensure that relevant communication is sent to the client or intermediary and finance department.

Analyse, record, and communicate trends that you pick up to the relevant manager or department.

Accurately record and store your reports in the shared Investo folder (the raw data and calculations).

Align the information you receive from the product house and finance department with Investo's processes and procedures.

Assist with Adhoc telephone queries from Companies/Clients.

Adhere to Investo's two-hour turnaround time on escalated inquiries

Process all changes to contracts as requested by policyholders or Companies.

Manage work items to ensure all work is processed within Service Level Agreement

Hold Investo client relationships and ensure all stakeholders receive the required service levels

Ensure all schedules are reconciled to payments received on the system and clients

Ensure all payments are allocated in accordance with client requirements.

Generate Monthly reports for Companies.

CLIENT
Build and maintain relationships with stakeholders.

Deliver service level agreements applicable to ensure that client expectations are managed.

Participate and contribute to a culture that builds rewarding relationships.

Make recommendations to improve client service and fair treatment of clients within the area of responsibility

Continuously monitor turnaround times and quality standards and resolve issues speedily to enhance client service delivery

PEOPLE
Build and maintain productive and collaborative working relationships with peers and stakeholders.

Positively influence and participate in change initiatives.

Take ownership of driving career development.

Live the company values.

FINANCE
Identify solutions to enhance cost-effectiveness and increase operational efficiency

Manage company resources under your control with due respect.

Competencies

Behavioural competencies