Position Summary:
This position involves day-to-day responsibilities that require independent judgment and discretion, contributing to the department’s ongoing success.
Essential Functions & Basic Duties:
(This job specification may not include all the duties listed, nor do the examples cover all the duties that may be performed.)
- Manage and oversee the daily operations of the Premium Accounting group which is responsible for the timely, accurate payment of all carrier payables; monitoring of accounts receivables and application of cash collected and collaboration with insurance servicing employees.
- Collaborate with the other department managers to support overall company and department goals and objectives. Support Controller and CFO with special projects and workflow process improvements
- Active participant in the operations of the department. Exercise discretion and independent judgment when assigning work and ensuring that tasks have been completed by his or her staff.
Premium Carrier/Payables:
- Manage the timely and accurate payment to all insurance carriers and brokers.
- Respond to Account Executives and Carrier requests and inquiries.
- Distribute monthly client statements to Account Executives and Producers for collections.
- Process, track, and monitor collection of any premiums advanced on behalf of clients.
- Oversee company receivable and payable accounts and monitor collections activity.
- Prepare ad hoc account analyses for clients regarding their premiums and payments.
- Overall responsibility for timely and accurate collection of premiums from brokers/clients. Continuous follow up with service staff for collection of overdue balances. Maintain and manage all items referred to outside debt collections firm.
- Maintain and manage all legal collections activity.
- Oversee management of Program AR/AP processing monthly for each individual program (RPG Fee processing, BDX processing, Deposit Premium utilization, etc).
Financial Reporting & General Ledger:
- Review AR/AP balances to ensure agreement to GL balances
- Assist with the auditors review of AR and AP balances
- Monitor customer advances process (approval, disbursement, collection) and follow-up on uncollected items
- Monitor special client payment plans. Reconcile with VIP clients on periodic basis
Supervisory Duties:
- This job has a high level of supervisory responsibilities. Supervision includes but is not limited to:
- Manage and oversee the daily operations of the Premium Accounting group
- General supervision of two staff positions to include monitoring workload, planning for vacations/backup coverage to ensure that all financial deadlines are met
Knowledge, Skills, & Abilities:
- Proficiency at intermediate level in Outlook, Word, and all Microsoft Office applications, specifically Excel
- Comprehensive knowledge of AR/AP functions
- Excellent interpersonal and managerial skills
- Strong accounting and insurance knowledge including understanding of both general ledger and relationship of premiums and commissions
- Strong organizational and communication skills
- Detail oriented with special attention to accuracy and timeliness
- Ability to foster teamwork within the department and strong working relationships outside the departmentv
- Ability to recognize problems and correct process issues
- In-depth knowledge of Internal Controls
- Exceptional organizational skills
- Ability to exercise effective judgment
- Team-oriented
Education and Work Experience:
- Bachelor’s Degree, combined with a minimum of 5 years’ experience managing AR/AP and insurance industry experience, OR 10 years’ experience managing AR/AP and insurance industry experience
Why SterlingRisk?
Salary:
The estimated base salary range for this full-time position is $90,000 – $105,000 annually, plus benefits, and can vary based on location.
