Premium Payables Associate
In a rapidly changing world, HUB advises businesses and individuals on how to prepare for the unexpected. As one of the world's largest insurance brokers, our focus is dedicated to providing our customers with the peace of mind that what matters most will be protected - through unrelenting advocacy and tailored insurance solutions that put our clients in control. Our growing team of professionals across North America represents a broad, deep and one-of-a kind aggregation of entrepreneurs and leaders recognized for their excellence throughout the insurance community.
About the Position:
This position reports directly to the Premium Payables Supervisor and functions as part of a team. The team is responsible for the Premium Payables and Broker commission payables process for the Property & Casualty, Benefits and Wholesale business in various Broker Management system(s), GL system(s) and any additionally acquired systems. Key responsibilities include ensuring premiums are remitted to the carriers accordingly to carrier market terms and broker commissions are paid to external brokers on a periodic basis timely and accurately in accordance with company policies.
Role Description & Responsibilities:
- Function as primary contact with assigned insurance markets; focus on expedient resolution of billing discrepancies, obtain missing carrier invoices/statements from Insurance carriers and wholesalers in order to achieve three-way match status and timely disbursement.
- Prepare reconciliations in the Broker Management System in conjunction with invoices and/or statements received from markets in accordance with payment terms.
- Monitor timely resolution of billing discrepancies in order to achieve a three-way match status on or before payment due date.
- Process return premium requests to clients and premium finance companies.
- Prepare analysis of aged open payables on a periodic basis.
- Analyze research and resolve exceptions.
- Build and maintain positive working relationships with client service operations team and markets.
- Contribute to a cooperative team environment in which cross functions are assumed as necessary in order to meet department deadlines and goals.
- Other duties as assigned.
- Requires at least 2 years' experience in accounting field.
- Experience in a shared services accounting environment preferred.
- Insurance Brokerage Experience preferred.
- Must have excellent written and verbal communication skills
- Intermediate Word and Excel Skills required
- Strong analytical and problem solving skills
- Work under pressure to deadlines
- High degree of accuracy with a good eye for detail
- Self-motivated and proactive
- Demonstrated ability to take initiative and achieve results in a fast-paced and changing environment
- Must have some flexibility of work hours and have ability to potentially put in extra hours during peak times.
- High School Diploma or equivalent required and college courses in accounting required
Required Experience: 1-2 years
Required Travel: Negligible
Required Education: High school or equivalent
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