The Collections Analyst will be responsible for analyzing policy premium balances and the timely collection of outstanding premiums within our Open Brokerage Finance Team. In this position, you will be assigned a group of captive accounts to manage. This role will have interactions with Program Administrators, Brokers, Insureds, Underwriters and other members of the finance team.
Responsibilities:
· Communicating outstanding premium balances to brokers
· Issuing cancellation notices for non-payment of premium
· Reconciliation of outstanding balances
· Troubleshoot discrepancies involving premium, commission and payment differences
· Requesting disbursements for return premium balances
· Unapplied cash resolution
· Direct Collection of outstanding final audit balances to insureds
· Maintain proper account of collection efforts
· Work to clarify the resulting final audit and remove any doubt the insured may have disputing the amount owed
· Provide Collection Agency Support preparing and submitting account documentation necessary for direct collection
· Provide Legal Support by compiling account documentation necessary for litigation
· Special projects and system user acceptance testing as needed
· Strong reconciliation, analytical and business problem solving skills
· Strong interpersonal and organizational skills
· Excellent written and verbal communication skills
· Ability to work well independently and as part of a team
· Ability to work on several tasks simultaneously
· Attention to detail
· Understanding of Captives and/or Reinsurance business are a plus
· Bachelor’s degree – preferably in Accounting or Finance
· 4 – 6 years Insurance experience preferably finance, collections or premium audit collections
· Advanced knowledge of Microsoft Office products
· Experience with Cognos, Power BI, Great Plains, or Alteryx are a plus