Money In Money Out (MIMO) Manager
Jobs at:Old Mutual Kenya
Deadline of this Job:
18 November 2022
Date Posted: Monday, November 07, 2022 , Base Salary: Not Disclosed
Accountable for the Money In Money Out (MIMO) Function in the organization through supervised staff. Carries overall responsibility for the Treasury Operations, Receipting and allocations of transactions, payments (claims, medical providers, suppliers, commissions, staff, statutory, taxes etc), Health provider reconciliations, supplier reconciliations, bank reconciliations, control accounts reconciliations and balance sheet substantiation of transactions emanating from MIMO activities.
• Develops and implements the MIMO strategy and contributes to implementation of the overall Finance Operations strategy.
• Accountable for MIMO processes documentation, processes standardization and processes automation geared towards transformation of the MIMO environment to drive efficiency and seamless customer experience.
• Responsible for maintaining continuous, complete and accurate accounting records emanating from MIMO activities for trail and audit purposes.
• Responsible for all payments (claims, medical providers, suppliers, commissions, staff, statutory, taxes etc), for the group i.e. client and shareholder related payments whilst ensuring that this follows laid down procedures to mitigate against delays, incorrect/wrongful pay-outs and fraudulent payments.
• Responsible for timely and accurate health service provider reconciliations and supplier reconciliations to substantiate creditors liability.
• Proactive open batch management to ensure all journals are posted before month end closure.
• Robust and prudent cash flow management through establishing business cash requirements and investment of surplus funds to ensure optimal liquidity management.
• Accountable for Treasury Operations i.e., Liquidity management, yield enhancement, suspense accounts management, bank reconciliations, asset reconciliations, Treasury control accounts reconciliations, bank mandates and bank relationship management
• Responsible for receipting and allocation of premiums, reinsurance and rental income across all gateways i.e., bank statements, Mpesa, DD and check off
• Manage the Premium Collection activities in ensuring that the process is done efficiently i.e., affordability, Cancellations/Stoppages, Submissions, Collections and allocations to the client accounts
• Review of the various Agent Commission process in ensuring that the process has been effective and efficient before having Sign Off on the Final EFT File for upload in the Bank. Commission is to be paid to the Agents as per the agreed SLA.
• Review the Re-assurance Payment files in ensuring that it is line to the Treaty arrangements and payments are made in a timely manner
• Ensure that the re-assurance Claim recoveries are done and same allocated to the relevant Ledgers within the system for the purpose of reporting
• Ensuring that the Annual Profit Commission Statements are done and collection for the same effected within reasonable time
• Responsible for Balance sheet substantiation of the MIMO ledgers through timely and accurate posting of transactions to the general ledgers and control accounts reconciliations of MIMO ledgers
• Custodian of MIMO policies and procedures and promoting adherence to company values within the team.
• Accountable for delivery of MIMO service level agreements.
• Development and implementation of MIMO MIS and dashboards to measure service delivery and team performance.
• Improve internal controls and de-risk the MIMO environment to minimize operational loss.
• Maintain zero unsatisfactory audits status by putting in place sufficient mitigation action-plans to minimize MIMO risks and clearance of all audit management letter items.
• Risk management in MIMO Function.
• Liaison with auditors on MIMO matters and implementation of the management letter items relating to MIMO.
• Represents MIMO on business projects.
• Continuous engagement with all internal and external stakeholders to ensure that proper financial records are maintained and opportunities to enhance business relationships are harnessed.
• Talent growth, staff motivation, creation of appropriate culture, staff development, succession planning and mobility of staff within MIMO.
• Management of the MIMO team to create a high-performance culture.
• Banking Relationships, Financial Operations, Operational Strategies, Reconciliations, Treasury Management
Closing Date: 18 November 2022
Work Hours: 8
Job Experience: No Requirements
Level of Education: Bachelor Degree
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