Premium Accounting Manager
Posted on Aug 11, 2019 by ICW Group
ICW Group is hiring for a Premium Accounting Manager. The Premium Accounting Manager is to lead a Premium Accounting team to ensure that premium payments are received and applied timely and accurately as well as reduce bad debt and collect customer payments in support of the Companys financial goals.
Directly supervise the Premium Accounting team while you carry out managerial responsibilities in accordance with the organization's policies and applicable laws. We are looking for a manager to be involved with interviewing, hiring, developing and training employees; planning, assigning, and directing work as well as resolving problems
Day to Day
Manages premium accounting payment activities
- Monitors team results for receivables processing by exception and reports.
- Communicates with Brokers and other Company personnel to resolve discrepancies and to verify policy and commission information.
- Monitors accuracy, completeness and timeliness of payments, financial deposits and reporting.
- Trains, assists, and provides guidance on the review of the financial statements from our policyholders.
- Monitors and provides guidance on deductible recoveries.
Establishes and maintains processes and procedures for premium accounting
- Strategically plans departmental activities considering the state of the market and workflow needs.
- Formulates organizational policy that will have far reaching impact on the organization.
- Manages certain reports specific to the department and provides analysis of reports.
- Interprets, executes and develops functional policies, procedures and processes.
- Identifies system problems, recommend solutions, and follow through until the problem is resolved.
- Participates in new system projects and the implementation of new systems and enhancements.
- Identifies, researches, resolves and follows up on problems and opportunities generated by the reconciliation of accounts including any inefficiency of department policies and procedures.
- Oversees the development, implementation, and use of operational metrics for the organization, streamlining data collection and automation when possible.
Assists with Department of Insurance (DOI) complaints, legal matters, and pending lawsuits with attorneys in efforts to resolve bad debt
- Provides data and information to executives in regards to bad debt and trends in overdue and collection activities.
- Works alongside various internal departments to gather data for and resolve Department of Insurance (DOI) complaints.
- Prepares comprehensive reports and detailed explanations concerning legal matters and requests from the Department of Insurance.
Develops and leads a team of premium accounting professionals
- Organizes team workloads, assigns projects and manages resources and results.
- Sets performance expectations, team and individual goals and timelines in alignment with Department goals.
- Provides regular feedback and coaching to team members.
- Mentors and develops team members to further their skills and knowledge; creates and monitors development plans.
- Prepares and conducts performance evaluations.
- Hires and develops employee, and prepares disciplinary actions (including terminations).
- Approves direct reports expense reports and expenses beyond their authority.
- Establishes and maintains the overall work cadence and in partnership with other team leaders, ensures performance and outcomes strive for excellence in delivery and customer experience.
- Ensures that direct reports are engaged and that leadership practices in the department encourage development, recognition and retention.
- Establishes and holds supervisors accountable to hiring criteria, on-boarding and training requirements for incoming staff.
- Oversees the performance management and development process for direct reports and performs performance management duties, development planning and coaching.
Supervises directly and indirectly supervisors and teams of Premium Accounting Associates and Representatives.
EDUCATION and/or EXPERIENCE
Bachelor degree (B.A.) with applicable major from a four-year college or university or equivalent combination of education and work experience in similar positions. Masters degree in finance or accounting desirable.
Minimum of 7+ years professional experience in general and/or premium accounting. Minimum of 5+ years of experience leading a team of accounting professionals. Experience in the insurance industry preferred. Extensive experience effectively consulting with others, facilitating and presenting information and demonstrated ability to influence others. Experience managing the full life cycle of billing and accounts receivables operation.
KNOWLEDGE AND SKILLS
Advanced knowledge of MS Excel with the ability to manipulate data, create reports, pivot tables, charts and other intermediate to advanced Excel functions. Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply principles of logical or mathematical thinking to a wide range of intellectual and practical problems. Ability to read, analyze and interpret common technical journals, financial reports and legal documents and ability to respond to common inquiries or complaints from customers, regulatory agencies or members of the business community.
While performing the duties of this job, the employee is frequently required to sit. The employee is regularly required to stand; walk; reach with hands and arms; stoop, kneel, crouch, or crawl; talk and hear. The employee must occasionally lift and/or move up to 30 pounds. Specific vision abilities required by this job include close vision. The worker is required to have visual acuity and be capable of operating and viewing computers and other electronic devices for extended periods of time.
The noise level is usually quiet in the work area with moderate noise in the department.
Occasional travel may be required.