Officer - Premium Administration

Role Overview

This position sits at the heart of a life insurance operations team, where every premium transaction must be captured, allocated, and reconciled with precision. Day to day, you will process incoming payments, maintain direct debit and salary deduction mandates, resolve unmatched funds, and support policy servicing so that customer accounts remain accurate and compliant. By keeping premium data clean and flowing across finance, distribution, and customer experience teams, you directly protect revenue integrity and enable the business to make confident, data-driven decisions.

Key Responsibilities

• Process the full range of premium transactions—receipts, contributions, transfers, refunds, reinstatements, and amendments—ensuring each one is completed accurately within defined service timelines.
• Allocate incoming premiums to the correct policies and investment funds, and investigate any unallocated or suspense items to resolve discrepancies quickly.
• Monitor outstanding premiums and arrears, following up on unpaid contributions and coordinating with distribution teams to keep payment schedules current.
• Administer Direct Debit Authority and Salary Deduction mandates, including timely submission to banks, record maintenance, and reconciliation of receipted funds from various schemes.
• Reconcile daily premium collections against bank statements, treasury records, and policy administration systems, and liaise with banks, agents, brokers, and internal finance teams to resolve payment mismatches.
• Respond to inquiries from customers, intermediaries, and internal stakeholders, providing accurate information about premium due dates, policy status, outstanding balances, and available payment options.
• Support month-end, quarter-end, and year-end financial close processes by preparing reconciliations and operational reports that feed into management and regulatory submissions.
• Identify opportunities to streamline premium administration workflows, reduce manual intervention, and contribute to automation and digital transformation initiatives.

Requirements & Qualifications

• A bachelor’s degree in insurance, finance, business, or a related field; a diploma in insurance, LOMA, CII, IIK, or an equivalent professional certification is an added advantage.
• At least 1–2 years of hands-on experience in premium processing, policy servicing, and financial reconciliation within an insurance or financial services environment.
• Strong working knowledge of premium allocation rules, payment collection methods, direct debit operations, and suspense account management.
• Advanced Microsoft Excel skills, including the ability to model data, build automated reports, and perform statistical analysis; exposure to data analytics tools such as R, Python, or SQL is a plus.
• Demonstrated ability to interpret operational data, identify trends and anomalies, and produce clear daily, weekly, monthly, and ad hoc reports for management.
• Familiarity with life insurance product structures, regulatory and solvency requirements, IFRS 17 reporting concepts, or reinsurance fundamentals is advantageous but not mandatory.
• Proven experience managing customer and intermediary inquiries while consistently meeting service level agreements.
• Strong attention to detail, analytical problem-solving skills, and the ability to prioritize competing deadlines in a fast-paced operations environment.

What We Offer / Why Join

This role provides a solid foundation for growth within a large, established insurance group, with exposure to cross-functional projects and continuous improvement initiatives. You will work alongside finance, distribution, and technology teams, gaining valuable insight into how premium administration drives broader operational and regulatory outcomes. The company actively supports professional development through structured training plans and encourages participation in group-wide projects that build leadership, collaboration, and innovation capabilities.