Insurance - Assistant Manager Recovery

Join our Insurance Recovery team as an Assistant Manager. Lead recovery operations, manage delinquent accounts, coordinate with legal teams, and drive recovery targets. Ideal for candidates with strong analytical, negotiation, and leadership skills in financial services.

Key Responsibilities:

• Oversee the preparation and timely submission of recovery files in accordance with internal guidelines, legal standards, and regulatory requirements, including submissions to third-party insurers, MVIAC, courts, and other stakeholders.
• Supervise and support recovery officers in gathering required documents from internal claims handlers and external service providers such as garages, surveyors, and legal advisors.
• Monitor and manage the entire recovery portfolio, including defaulted, disputed, and legal claims, ensuring strategic follow-up actions and efficient resolution.
• Initiate and coordinate recovery efforts with third parties and defaulters, while maintaining proper documentation of all communications and agreements.
• Represent the company in court proceedings when necessary, and liaise with legal teams and external agencies to expedite litigation processes and maximize recovery outcomes.
• Negotiate settlements and repayment terms with clients and third parties; ensure all settlement agreements and discharge receipts are accurately documented and filed.
• Ensure timely processing of cheques, recoveries, and payments; maintain updated tracking systems, litigation registers, and recovery records on a daily basis.
• Lead the team in achieving monthly recovery targets and KPIs; track performance, analyze gaps, and implement corrective strategies.
• Coordinate and attend regular meetings with third-party insurance companies to follow up on outstanding cases and maintain professional working relationships.
• Prepare and present detailed reports and performance analyses on recoveries, disputes, and litigation progress to senior management on a monthly and ad-hoc basis.
• Ensure strict compliance with company policies, regulatory norms, and legal recovery procedures while identifying potential risks and recommending strategic improvements.
• Provide ongoing guidance, mentoring, and training to junior recovery staff, fostering a high-performing and collaborative team environment.

Requirements:

• Bachelor's degree in Finance, Law, Business Administration, or related field.
• 3 to 5 years of experience in recovery or related department in the insurance sector.
• ACII or any relevant courses pertaining to the insurance sector will be an advantage.

Skills:

• Strong negotiation and communication skills
• Familiarity with legal recovery procedures
• Analytical mindset
• Proficiency in Microsoft Office Tools

Key Competencies:

• Integrity and professionalism
• Problem-solving and decision-making
• Attention to detail
• Customer-focused approach
• Team collaboration