Collections Associate

4 weeks ago

Johnston RI United States FM Global Full time

FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.

Schedule & Location:

This non-exempt (37.5 hours per week) position is based in Johnston, RI and follows an on-site work model. Employee is required to work on-site four days per week with the option to work one day per week from a home office based on business needs.

The first month of employment is expected to be on-site 5 days per week 8:30 AM to 4:30 PM.


Reporting to the Transactional Accounts Receivable (AR) & Collections Supervisor, the position will be responsible for performing all collection activities in compliance with defined policies and procedures to support optimal cash flow and ensure timely payment of premiums from customers, brokers, coinsurers or WRP companies. This will include working with account teams worldwide to pursue collection of all receivables. The position will be required to take initiative to improve collections, reporting, methodologies, and reconciliations. This position may be required to prepare analysis in support of improving collection efficiency.

  • Monitoring and collection of all premium due with focus on collections within specified due dates to minimize penalty to surplus.
  • Timely follow-up and communication with the account teams and/or customer (internal/ external) for any delinquent payments.
  • Support the effort of operations for resolution of outstanding premium.
  • Review and reconcile bordereaux payments for brokers, insureds, and/or WRP companies communicating results to AR associates.
  • Initiate and maintain accurate and timely communication within the ERP system.
  • Provide supporting documentation for queries on invoicing and collections questions, potentially coordinating between cross functional groups and international offices.

Required Education:

Bachelor's degree in finance/accounting preferred, or equivalent education and experience.

Required Work Experience:

1+ year in collections

Highly Preferred Work Experience:

  • 2+ years in collections
  • Experience in the insurance industry.

Required Skills:

  • Excellent interpersonal and communication skills with both internal and external customers.
  • Excellent organizational skills and the ability to recognize and schedule priorities.
  • Ability to work independently within specific timeframes and deadlines.
  • Proficiency in Microsoft Outlook, Excel, and Word.
  • Possess critical thinking and problem-solving skills with attention to detail.
  • Knowledge of and experience in Collections and Accounts Receivable.
  • Work collaboratively across disciplines to share knowledge with others.

Highly Preferred Skills:

  • PeopleSoft experience is preferred.
  • Understanding and hands on experience working with different currency.

The hiring range for this position is $26.63 - $38.32 per hour. The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FM Global's comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

FM Global is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.

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