Position Overview
The Accounts Receivable Analyst is responsible for ensuring accurate, timely application and reconciliation of premium payments for insurance products. This role is integral to maintaining financial integrity, supporting audit requirements, and delivering operational excellence. The ideal candidate has strong attention to detail, communication skills, and experience working with third-party administrators (TPAs), vendors, and internal partners.
Key Responsibilities
- Apply Premium Payments: Accurately process and apply payments, reaching out for backup worksheets, correcting backup documentation, and sending variance correspondence.
- Return Premium Disbursements: Handle all disbursement transactions for returned premiums, ensuring compliance and proper documentation.
- Variance Reporting & Reconciliation: Prepare and analyze variance reports to reconcile incorrectly applied premiums; send variance communications for short or overpayments to TPAs; maintain detailed journal notes of all corrections.
- Premium Adjustments: Process premium backouts and reapplications due to Policy Administration system changes.
- Vendor & ACH Setup: Initiate and process ACH setups for new vendors and accounts, ensuring correct procedures and authorizations.
- Email Management & Communication: Assist and respond to queries from the Skyward team and TPAs; manage a high volume of daily working emails; maintain an organized premium payment email folder.
- Audit Support: Collect and prepare backup documentation for internal and external audits; assist in auditor requests and compliance checks.
- Regulatory Reports: Generate and distribute annual 5500 – Schedule A reports as required.
- Folder & Document Management: Create and manage daily/monthly cash reconciliation folders, including organizing backup worksheets from TPAs for audit purposes.
- Process Improvement: Identify and suggest process optimizations for greater efficiency and accuracy in AR functions.
Additional Responsibilities
- Support month-end and year-end closing activities.
- Maintain comprehensive AR records in accordance with company policy and insurance regulations.
- Collaborate cross-functionally with Finance, Underwriting, Claims, and IT teams to resolve billing issues.
- Track key AR metrics and report on status, trends, and outstanding items.
- Provide training support to team members as needed.
- Assist with special projects and ad hoc assignments as delegated.
Qualifications
- Bachelor’s degree in Accounting, Finance, or related field (or equivalent experience).
- 2+ years in accounts receivable, insurance billing, or similar role preferred.
- Thorough knowledge of AR processes, reconciliation, and regulatory reporting (insurance industry experience a plus).
- Proficiency with accounting systems, Excel, and document management tools.
- Strong written and verbal communication skills.
- Excellent organizational skills and attention to detail.
Skills
- Data analysis and reconciliation
- Problem-solving mindset
- Ability to manage multiple priorities in fast-paced environment
- High degree of integrity and confidentiality
- Customer service orientation
- Prefer ability to maintain training documentation
Compensation & Benefits
The applicable base salary for this opportunity is $60,000 - $75,000. The base pay offered will be determined by factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements. In addition to the base salary, this opportunity may be eligible for performance-based incentives. We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition and professional certification assistance, 401k savings, elective participation in the Employee Stock Purchase Program, paid time off, paid holidays, and child bonding leave, as well as other employee assistance.
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