Assistant Manager, Insurance

Job purpose

This position is responsible for overseeing the company’s trade credit insurance and fidelity guarantee insurance arrangements, along with related financial insurance lines from start to finish. The role focuses on keeping policies administered on time, assessing risk accurately, coordinating efficiently with insurers, and supporting internal teams across the business. The right candidate will be highly detail-focused, analytical, and able to perform well in a fast-moving, deadline-driven setting.

Key accountabilities

Policy and risk management

• Support the handling of trade credit insurance and fidelity guarantee policies, including renewals, endorsements, and record maintenance.
• Manage Binzagr’s RVS and client credit cover portfolio across business units in coordination with cluster heads, business development, and credit control teams, while safeguarding the overall credit quality of the portfolio.
• Examine credit limits, monitor exposures, and make sure policy deadlines and terms are followed.
• Assist in assessing customer creditworthiness and risk profiles.
• Monitor overdue balances and work with internal teams on issuing dunning notices to defaulting accounts, escalating them to insurers, reviewing recovery action plans, and supporting internal risk mitigation and litigation steps.
• Work with the credit control team when granting temporary credit extensions to customers.
• Coordinate with CFT to ensure timely reconciliation of MT and Principles claims accounts at the frequency set by management, helping avoid insurance breaches.
• Coordinate with Internal Audit, HR, and Legal during investigations and reporting of losses from RVS operations, and when filing fidelity guarantee claims with the insurer.
• Partner with the legal team and external collection agencies on bad-debt recovery and pre-litigation actions.
• Review accounts receivable aging regularly and follow up on overdue and aged balances with sales and branch accounts teams to close them in a timely manner.
• Keep the active client portfolio under periodic review and recommend appropriate ratings and mitigation actions based on the latest financial position and other insights.

Coordination and communication

• Act as the main contact point between the company and insurance providers.
• Prepare and submit documents required for KYC, claims, credit limit requests, customer trading history, and turnover declarations.
• Share policy updates, limit approvals, withdrawals, and other related requirements with sales, finance, legal, and management teams.

Claims handling

• Support the creation of claim files, collection of supporting documents, and follow-up with insurers.
• Track claim timelines and ensure all policy conditions are met.
• Follow up on claim settlements and ensure correct accounting treatment is applied.

Reporting and analysis

• Maintain precise records of credit limits, exposures, policy usage, and loss ratios.
• Assist with data analysis to identify trends, risk areas, and opportunities for improvement.
• Prepare recurring credit risk management reports covering concern areas or concentration risks, claim status, and policy performance.

Process improvement

• Suggest and help implement improvements to SOPs, processes, modelling, and mitigation practices to strengthen control efficiency in credit risk management.
• Ensure adherence to internal controls and regulatory obligations.
• Build awareness among key stakeholders on credit risks and practical mitigation measures.

Qualifications

• A bachelor’s degree in finance, business, economics, or a related discipline is required.
• Experience in trade credit insurance, credit analysis, or accounts receivable for large corporate accounts is preferred.
• Strong understanding of credit principles, policies, and procedures.
• Working knowledge of accounting treatment for insurance contracts and claims.
• Strong communication and negotiation abilities.
• Good analytical and numerical capability.
• Strong control awareness.
• Ability to handle several tasks at the same time.
• Proactive, collaborative, and able to work effectively both independently and as part of a team.
• Advanced proficiency in MS Office; experience with the SAP AR module is highly preferred.

Additional information

This is a full-time, onsite role based in Jeddah, Makkah, Saudi Arabia.