Finance Consultant – Collections, Lapses & Finance Operations (Talent Pool)

Job Description,

Role Purpose

To provide accurate, efficient and responsive finance operations support to PPS Health Professions Indemnity. The role takes hands-on responsibility for collection exceptions, unpaid contracts, EFT allocations, refunds, lapses and arrears follow-up, finance queries and routine month-end processing. It supports sound financial control through timely reconciliations, disciplined investigation and escalation, accurate system updates, clear stakeholder communication and complete supporting documentation.

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Requirements,

Minimum Qualifications

• A BCom in Finance or Accounting (or an equivalent finance / accounting degree).
• Sound understanding of month-end processes, reconciliations and financial controls.

Experience

• Two to three years’ relevant experience in finance operations, accounting, collections, bookkeeping or financial administration.
• Practical experience in reconciliations, payment processing, exception investigation, supporting documentation and the resolution of financial discrepancies.
• Experience working with Microsoft Excel and a financial, accounting or policy administration system.
• Experience managing recurring monthly tasks and meeting prescribed collection, payment and reporting deadlines.

Advantageous Experience

• Insurance or financial services experience.
• Premium collection, debit-order, arrears or lapse-processing experience.
• Exposure to MIP or a comparable policy administration system.

Skills & Competencies

• Technical finance skills – reconciliations, accruals, IBNR and recalculated-balance logic.
• Strong Excel ability – comfortable working in structured workbooks and large data sets.
• Accuracy and attention to detail – totals must reconcile and processing must be error-free.
• Follow-up and escalation discipline – persistent, organized, and able to manage high case volumes (hundreds of rejections per cycle).
• Communication – clear, professional contact with members and internal stakeholders.
• Problem-solving and initiative – a self-starter who can think beyond the obvious and improve processes.
• Time management – able to work to strict month-end deadlines and collection dates.
• Accountability and integrity
• Resilience and adaptability
• Results orientation

Key Performance Indicators

• Collection reconciliations and assigned month-end tasks completed accurately within agreed deadlines.
• Reconciling items, payment allocation exceptions, refunds and lapse cases tracked to resolution with evidence of follow-up and timely escalation.
• Client and internal finance queries responded to within agreed service standards, with reduced repeat queries.
• Accurate and timely system updates for unpaid contracts, EFTs, refunds, lapses and cancellations.
• Complete, current and audit-ready trackers, reconciliations and supporting documents.
• Demonstrable reduction in aged exceptions and contribution to practical process improvements.

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Duties and Responsibilities,

Key Responsibilities Month-End Processing & Reconciliations

• Perform assigned month-end tasks within the agreed close timetable.
• Prepare and maintain reconciliations and supporting schedules for gross written premium, collections and premium movements.
• Support accrual preparation, claims-paid and outstanding-claims listings, and month-end working papers as assigned.
• Investigate variances, clear reconciling items, retain supporting evidence and provide progress updates.
• Support monthly analysis so trends and anomalies are identified earlier.

Collections & Cash Management

• Prepare and review collection files in line with agreed cut-off dates and controls.
• Perform collection reconciliations and investigate differences caused by late changes, banking issues, unpaid debits, policy amendments and timing differences.
• Maintain an exception tracker, follow up unreconciled items and escalate overdue or unresolved matters.
• Work across Finance, Service, Underwriting and Operations to clear exceptions and prevent repeat issues.
• Support stricter adherence to the requirement that policy maintenance, frequency changes, payment arrangements, suspensions and collection-method changes are submitted at least five working days
• Assist with the bank release chain, respecting segregation of duties (load ? first release ? final approval).
• Ensure accurate allocation of receipts, refunds, reversals and adjustments.

Lapse Management, Follow-Up & Escalation (primary Focus)

• Own routine lapse and arrears administration, including 30-day notice processes, regular monitoring and monthly lapse reporting.
• Follow up overdue balances and payment arrangements and maintain a complete audit trail of contact and outcomes.
• Escalate unresolved cases promptly to the appropriate owner in Finance or Operations.
• Process or coordinate cancellation and system updates in accordance with approved rules and controls.
• Identify members at risk of lapsing and support proactive reminders before cancellation becomes necessary.

Unpaid contracts, EFTs and payment allocation

• Process unpaid debit orders and capture EFT receipts accurately and promptly.
• Reconcile payments received, update client records and outstanding balances, and investigate incorrect or missing references.
• Ensure receipts, reversals and adjustments are allocated to the correct policy or account.
• Monitor batch uploads and system updates and resolve allocation exceptions.

Refund processing

• Verify that refunds are due and calculate amounts in accordance with approved methodology.
• Prepare refund documentation, obtain approvals and process payments through the approved banking process.
• Update operational systems and perform refund reconciliations.
• Investigate complex refund scenarios, maintain the refund tracker and escalate delays or exceptions.

Finance queries and stakeholder support

• Respond professionally to operational finance queries from Service, Underwriting and Operations.
• Provide guidance on premiums, collections, payment arrangements, policy changes and reconciliations.
• Require originating teams to complete reasonable investigation and provide supporting information before escalation.

Controls, SOPs & Improvement

• Comply with PPS policies, financial controls, confidentiality requirements and segregation of duties.
• Maintain complete, accurate and audit-ready supporting documentation.
• Document and maintain procedures for collections, lapses, refunds, EFTs and month-end activities.
• Identify recurring root causes and recommend automation, dashboard or exception-reporting improvements.
• Support approved process and system changes and execute change within the prescribed authority.