Officer - Premium Administration

The role holder will be responsible for the accurate, timely and efficient administration of premium collections, allocations, reconciliations and policy servicing activities. The role ensures the integrity of premium data, supports operational excellence through process optimization and data-driven insights, maintains compliance with regulatory and internal governance requirements and delivers exceptional service to both internal and external stakeholders.

• Process premium receipts, contributions, transfers, refunds, reinstatements, policy amendments, and other premium-related transactions accurately and within agreed turnaround times.
• Ensure timely and accurate allocation of premiums to the appropriate policies and investment funds.
• Monitor premium collections and follow up on outstanding premiums, arrears, and unpaid contributions.
• Coordinate with New Business, Customer Experience, Claims Teams and Ordinary Life Distribution teams to ensure accurate premium schedules and policy updates.
• Manage Direct Debit Authority (DDA) mandates, ensuring timely submission to banks and accurate maintenance of DDA records.
• Manage Salary Deduction Advices mandates, handle the allocation of receipted funds from the various schemes.
• Support policy servicing activities relating to premium administration while maintaining high standards of customer satisfaction.
• Perform daily reconciliation of premium collections against bank statements, treasury records and policy administration systems.
• Investigate and resolve unmatched, unallocated or suspense premiums within agreed timelines.
• Liaise with Finance, banks, agents, brokers and clients to resolve payment discrepancies.
• Ensure financial transactions comply with internal controls, accounting standards, and reconciliation procedures.
• Support month-end, quarter-end and year-end financial reconciliation activities.
• Respond to customer, intermediary and internal stakeholder enquiries within established service level agreements.
• Provide accurate information regarding premium payments, outstanding balances, policy status and payment options.
• Build and maintain effective relationships with policyholders, intermediaries, Finance, Underwriting, Customer Experience and other internal stakeholders.
• Escalate complex customer issues appropriately while ensuring timely resolution.
• Share regular reports on mandates and deduction orders launched, and transaction success.
• Identify opportunities to improve premium administration processes, turnaround times, and service delivery.
• Participate in automation initiatives and digital transformation projects aimed at enhancing operational efficiency.
• Recommend and implement process improvements that reduce operational risk and manual intervention.
• Maintain compliance with established operational procedures, internal controls, and quality standards.
• Contribute to departmental initiatives that improve productivity and customer experience.
• Analyse premium collection trends, payment patterns, arrears, lapses, and operational performance to identify risks and opportunities.
• Prepare accurate daily, weekly, monthly, and ad hoc operational reports for management.
• Monitor departmental KPIs, SLAs and operational metrics, providing insights to support decision-making.
• Ensure the accuracy, completeness, and integrity of premium administration data.
• Identify data anomalies and recommend corrective actions.
• Support business planning, audits, regulatory reporting.

• Attention to Detail: Ability to work with a high degree of accuracy and precision when processing premium transactions, performing reconciliations and maintaining policy and financial records.
• Analytical Thinking: Strong analytical skills to interpret premium administration data, identify trends and discrepancies, generate meaningful insights and support informed decision-making.
• Customer Focus: Commitment to delivering exceptional service by understanding customer and stakeholder needs, responding promptly to enquiries, and providing accurate and timely solutions.
• Communication: Effective verbal and written communication skills to engage with internal and external stakeholders, explain premium-related processes, resolve queries, and foster collaborative working relationships.
• Problem-Solving: Ability to identify operational and premium-related issues, conduct root cause analysis, exercise sound judgment and implement practical solutions within established policies and procedures.
• Planning and Time Management: Excellent organizational skills with the ability to prioritize multiple tasks, manage competing deadlines and consistently meet agreed turnaround times and service level agreements.
• Collaboration: Ability to work effectively with cross-functional teams, build positive working relationships and contribute towards achieving departmental and organizational objectives.
• Continuous Improvement: Proactive approach to identifying opportunities for process enhancement, supporting automation initiatives and driving operational efficiencies.
• Accountability: Demonstrates ownership of assigned responsibilities, delivers quality outputs, adheres to internal controls and upholds high standards of integrity and professionalism.
• Adaptability: Ability to adjust to changing business priorities, regulatory requirements, new technologies and evolving operational processes while maintaining performance and service quality.
• Knowledge of actuarial modelling tools e.g., Prophet or equivalent.