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Bancassurance Reconciliation Officer job at Dfcu Bank | Apply Now
Are you looking for Bank Jobs in Uganda 2024? If yes, then you might be interested in Bancassurance Reconciliation Officer job at Dfcu Bank
Kampala, Uganda
Full-time
DFCU Bank is a leading financial institution in Uganda dedicated to transforming lives and businesses through innovative financial solutions that drive economic growth and financial inclusion. Established in 1964 as the Development Finance Company of Uganda, the bank has grown from a development finance institution into a full-fledged commercial bank, with a significant milestone being its acquisition of Crane Bank in 2017. Recognized for its strong financial performance, customer service excellence, and digital banking innovations, dfcu Bank has received multiple industry awards and remains a trusted partner for individuals, SMEs, and corporate clients.
The bank fosters a dynamic and inclusive work culture that emphasizes integrity, customer focus, innovation, teamwork, and excellence, offering employees professional growth, career advancement opportunities, and competitive benefits. With a strong presence across Uganda through an extensive network of branches, ATMs, and digital banking services, dfcu Bank continuously invests in technology to enhance accessibility and efficiency.
Committed to corporate social responsibility, the bank actively supports financial literacy programs, women empowerment initiatives, environmental sustainability efforts, and youth entrepreneurship. Headquartered at 26 Kyadondo Road, Kampala, Uganda, dfcu Bank remains a key driver of financial empowerment and economic development in the country. For more information
Bancassurance Reconciliation Officer job at Dfcu Bank
Dfcu Bank
Reporting to the Head of Bancassurance, the role holder will be responsible for ensuring the accuracy and integrity of financial transactions between the bank and the insurance partners.
The reconciliation officer is responsible for reconciling insurance premiums, commissions, and other financial transactions between the bank and insurance partners.
The Bancassurance Reconciliation Officer oversees the reconciliation process for transactions between the bank and insurance partners.
Monitor premium collection for all issued policies, renewals and monitor liens for unpaid insurance and provide recommendations to improve premium collection.
Reconcile all Insurance Suspense accounts including commission & claims accounts and ensure payments are posted to the P&L accounts.
Process refunds of unused premiums to ensure value for money for the customer
Reconcile all issued policies against premium collections, outstanding premiums, received and outstanding commissions to identify any discrepancies.
Maintain accurate and up-to-date records across multiple platforms, including the insurance portal, Finacle, and shared drives. This includes documenting new insurance policies, renewals, commissions, and other related information.
Prepare regular reports on bancassurance reconciliation activities, including reconciliation status, outstanding items, and resolution progress, for management review.
Ensures compliance with the Bank’s policies, procedures and Regulatory guidelines and requirements.
Process Improvement: Identify opportunities for process improvements to enhance the efficiency, accuracy, and effectiveness of Bancassurance reconciliation procedures.
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
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RESIDENTIAL
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
SERVICES
COMMERCIAL
SERVICES
COMMERCIAL
SERVICES
COMMERCIAL
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
University degree from a recognised university.
A Certificate in Insurance (CIU). A diploma in insurance will be an added advantage.
At least 1 year experience a reconciliation role in insurance operations or finance.
Knowledge of practical application insurance covers.
Thorough knowledge of the financial services industry
High level of integrity and ethical standards
Attention to detail, excellent analytical skills, and ability to demonstrate a high degree of accuracy.
Excellent interpersonal, verbal, written, communications and independent judgement skills.
Good organisational.
Excellent negotiation.
Conflict resolution skills
If you believe you meet the requirements as noted above, please forward your application with a detailed CV including your present position and copies of relevant professional/academic certificates (University Transcript, O & A level), to the email address indicated below;
Vacanciesbank@dfcugroup.com
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