Financial Analyst

ESSENTIAL FUNCTIONS:

Responsibilities of the Financial Analyst will vary, based upon company need and upon the capabilities of the employee. The Financial Analyst will be asked to focus on one or more of these Essential Functions, such as the Premium Reconciliation function described below. The employee will be trained, and will be expected to provide backup, on the other essential functions of this position.

Data Analysis & Reporting

  • Compile, organize and assess underwriting, sales and finance data.
  • Create and maintain a production data base that can be used to compile data for analytical and reporting purposes.
  • Design, produce, maintain and distribute reports, both in a production environment and on an ad hoc basis.
  • Perform data and statistical analysis, triggered both by individual initiative and management request.
  • Analyze and interpret results and make recommendations to the Assistant Manager.
  • Conduct self-directed data audits and provide feedback to IT and to PPI production areas to reduce errors, and improve processes and outcomes.
  • Assist Assistant Manager with additional reporting needs, including but not limited to 10/10 reports and audits, departmental production, sales statistics, carrier claim reports, the compilation of premium and claim data, as well as block and trust projections.
  • Assist in the development of business requirements for IT development projects.Broker Commissions

Broker Commissions

  • Perform monthly commission processing, while developing documentation and continuously identifying solutions to improve efficiency and quality.
  • Manage commission work load to ensure that due dates are met.
  • Research and answer commission related questions, research payment issues, recommend solutions and provide superior service to brokers. This includes both commissions paid by PPI and commissions paid by carriers.
  • Assist in the development of business requirements for IT development projects. Premium Reconciliation

Premium Reconciliation

  • Compile and analyze premium information for assigned carriers.
  • Utilize information systems, databases and technology tools in preparing, reporting and analyzing carrier premiums.
  • Use reporting tools to reconcile carrier premiums with premium data provided by the carrier.
  • Identify, investigate and reconcile premium discrepancies.
  • Provide instructions to PPI staff when adjustments are needed to support premium reconciliation.
  • Develop carrier contacts and relationships that facilitate timely resolution of premium issues.
  • While performing ongoing premium reconciliations, identify and document procedural and systematic recommendations to improve efficiency and quality.
  • Manage work load to ensure that carrier deadlines are met.
  • Escalate ongoing premium issues to Assistant Manager, as needed.
  • Follow up until premium discrepancies are resolved. Provide ongoing updates to the Assistant Manager. Seek assistance as needed.
  • Assist in the development of business requirements for IT development projects. Revenue Audits
  • Initiate and conduct pre-renewal underwriting audits to identify accounts with payment issues.
  • For each account, verify compensation to be paid and the source of that payment.
  • Compare system allocations to actual payments, and identify and reconcile all discrepancies
  • Pursue and collect outstanding carrier payments. Escalate ongoing payment issues to Assistant Manager, as needed.
  • Develop carrier contacts and relationships that facilitate timely resolution of payment issues.
  • Work Assistant Manager to pursue outstanding carrier payments, correct allocations, update documentation and resolve discrepancies.
  • Follow up until compensation issues are resolved. Provide ongoing updates to the Assistant Manager, Seek assistance as needed. Special Projects
  • Take on special projects, as directed by the Assistant Manager.
  • Responsible for developing a business plan and achieving deliverables.
  • Define and refine procedures, identify and implement process improvements, and create documentation to facilitate knowledge transfer.
  • Develop and manage assigned projects, and complete assignments within deadline. Provide prompt, courteous and excellent service at an acceptable cost to all customers and operate in accordance with State and Federal law, the company's Statement of Business Practices, Affirmative Action, Diversity and other standards. Bachelor degree or equivalent work experience. This position deals extensively with financial data, including carrier premiums, broker commissions and PPI revenue. This information is considered confidential and proprietary, and requires both care and discretion. Accuracy and attention to detail are required skills, as is the ability to protect confidential information.Must have planning, organizational, problem-solving and time management abilities. Strong oral and written communication skills are required. Must have excellent math and analytical skills, as well as strong word processing, spreadsheet and database skills. Must be self-directed, accurate and detail oriented. May rely on instructions and pre-established guidelines to perform core functions, but is expected to operate independently, think creatively and recommend enhancements to policies and procedures.
  • REQUIREMENTS:

Provide prompt, courteous and excellent service at an acceptable cost to all customers and operate in accordance with State and Federal law, the company's Statement of Business Practices, Affirmative Action, Diversity and other standards.

Bachelor degree or equivalent work experience. This position deals extensively with financial data, including carrier premiums, broker commissions and PPI revenue. This information is considered confidential and proprietary, and requires both care and discretion. Accuracy and attention to detail are required skills, as is the ability to protect confidential information.

Must have planning, organizational, problem-solving and time management abilities. Strong oral and written communication skills are required. Must have excellent math and analytical skills, as well as strong word processing, spreadsheet and database skills. Must be self-directed, accurate and detail oriented. May rely on instructions and pre-established guidelines to perform core functions, but is expected to operate independently, think creatively and recommend enhancements to policies and procedures.


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