Premium Accounting Representative

Warren, NJ

Post Date: 10/06/2017 Job ID: 7796 Industry: Accounting

SUMMARY

This position will bill and collect premium dollars and maintain low outstanding receivables for assigned book of business. To identify errors in premium receivables and reconcile them with appropriate areas, requiring frequent contact with producers, branch underwriting, operations and the audit department. To reconcile and balance cash receipts to bank and general ledger.



RESPONSIBILITIES

  • Reconcile Agency and Direct bill receivables on assigned book of business.



  • Improve cash flow by proactively reviewing accounts.



  • Manage statutory overdue items.



  • Work closely with zone offices, brokers, insureds and audit department to resolve open items, discrepancies and collection issues.



  • Written and verbal communication with agents, underwriting and policyholders regarding open items and collection issues.



  • Document collection activity in accordance with department procedures.



  • Process cash daily in the WINS Premium Accounting system, cash balancing and bank deposits.



  • Processing of check disbursements.



  • Manage regarding aged items, collection and customer service issues.



  • Research statutorily overdue items monthly and provide required information to department management for reporting on a quarterly basis.



  • Identify items for adjustments.



  • Review and analyze various monthly Premium Accounting reports to assist management in identifying trends and potential collection problems.



  • Reconcile unapplied cash, initiate cash disbursements and identify write-offs in accordance with department guidelines.



  • Mail monthly statements to agents and insureds, and file statements, cash receipts, cash disbursements, write-offs and account current statements in the appropriate files for an accurate audit trail.



  • Complete quarterly and annual asset impairment analysis.



  • Reconcile and balance department cash to the bank and general ledger.



  • Deductible billings, collateral tracking, collections, cash application and account reconciliation.



  • Special projects, system upgrades, system testing.



  • Daily team functions as assigned on a rotation basis.



  • Calculation, billing and collection of retrospective premium adjustments.





QUALIFICATIONS

  • High school diploma or GED is required along with a minimum of 3 years commercial insurance experience.



  • Premium Accounting or collection experience a plus



  • Must have the ability to multi-task, prioritize and clearly and effectively communicate both verbally and in written form.



  • Must have strong attention to detail and be analytical



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