Premium Payables Associate
This position reports directly to the Accounting Supervisor and functions as part of a team. The team is responsible for the regional financial accounting processes for the 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.
- 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
- 2 years of experience in the accounting field is preferred
- Insurance brokerage experience preferred
- Excellent written and verbal communication skills
- Basic Excel skills at a minimum
- Strong analytical and problem solving skills
- Ability to work under pressure to meet 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 the availability to put in extra hours during peak/growth times
- Accounting experience
- Excel - intermediate level skills (v-lookups, pivot tables)
- Experience in a shared services accounting environment is a plus
Required Experience: 1-2 years of relevant experience
Required Travel: No Travel Required
Required Education: High school or equivalent
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