Accounting Operations Analyst

Job Description

JOB DESCRIPTION

Accounting Operations Analyst and Senior Accounting Operations Analyst

SUMMARY:

This job is primarily responsible for Enterprise wide cash receipts, refunds and uncollectible processes. This position requires working in several billing, receivable and ancillary systems that require manual intervention due to complexity of systems and products underwritten by the Enterprise. Supports financial reporting via complex multi-entity ledger entries and daily reconciliation of cash and receivable transactions. Responsible for providing accurate and consistent services regarding premium and non-premium payment transaction activity, uncollectible transactions and other ad hoc requests. Contacts include various employees of the Enterprise, agents, policyholders, customers, medical facilities, other insurance companies, NCCI and legal representatives.

PRIMARY RESPONSIBILITIES: Maintains an in-depth knowledge of Enterprise billing, policy, claim, dividend and commission structures, Enterprise systems, and applicable regulatory requirements related to specialty lines (servicing carrier, commercial auto, retro policies), claims and cash management. This position requires working in several billing, receivable and ancillary systems that require substantial manual efforts due to system limitations or complexity of products underwritten by the Enterprise. Prepares complex multi-entity journal entries from Enterprise system reports, including but not limited to, premium receivables, small deductibles, agency receivables, write-offs, claims, miscellaneous cash and refunds. Independently researches issues related to cash receipts, makes appropriate inter-company fund transfers or corrections. Makes independent general ledger correcting entries when deemed necessary. Completes daily reconciliation of cash receipts from multiple sources against receivable reports from various Enterprise and ancillary systems. Balances, validates and posts incoming cash remittances and other receivable-based transactions to various billing and ancillary systems for the Enterprise, including but not limited to, premium receipts, commission recoverable, claim recoveries and miscellaneous income. Researches, reconciles and processes premium and miscellaneous refunds for the Enterprise involving manual effort due to system limitations. Completes all premium write-off requests for the Enterprise. Reviews requests and ensures proper authorization before completing requests. Reconciles write-off requests to the bad debt database and policy processing systems. Sends the external collection agency uncollectible policy balances and ensures it agrees to the Enterprise's uncollectible database. Researches and monitors suspended cash for the Enterprise. Follow-up with policyholders, agencies and various institutions to ensure timely and accurate posting of cash receipts. Requests refunds as necessary. Receives, researches, identifies, and batches all incoming checks for posting by verifying amounts, dates, addresses, and other details via systems for the Enterprise. Responsible for calculating and creating statements for Enterprise Dividends and responding to internal and external inquiries regarding Dividends. Researches and identifies all NSF and returned ACH payments for the Enterprise. Applies fees as necessary. Prepares, balances and performs check deposits for the Enterprise. Monitors and tracks collateral to ensure loss funds are adequately funded. Responds to internal and external customer requests via telephone, written or electronic correspondence. Ad hoc correspondence is drafted to address complaints or requests for information, including but not limited to, regulatory inquiries related to claim recoveries, reconciliation of premium payments, uncollectible balances, and commission receivables and payables.

Administers petty cash fund and reconciles available funds and receipts monthly. Processes pay by phone transactions

Maintains confidentiality of information processed.

Additional Responsibilities for Senior Accounting Operations Analyst: Provides support and direction to the Accounting Operations Analyst Leads inquiries for internal and external audit requests Completes ad-hoc projects as assigned by management Reviews and provides feedback on documentation Supports various system implementations or upgrades as necessary

This description identifies the responsibilities typically associated with the performance of the job. The percentage of time in any responsibility may vary between positions. Other relevant essential functions may be required.

EMPLOYMENT QUALIFICATIONS: EDUCATION REQUIRED:

High school diploma or G.E.D. Minimum of an Associates degree in Accounting, Finance or related field. Combinations of relevant education and work experience may be considered in lieu of credit hours.

EXPERIENCE REQUIRED:

Minimum of two (2) years experience in accounts receivable, general ledgers and financial reporting systems or equivalent work which provides the necessary skills, knowledge and abilities.

OR

Bachelor's degree in Accounting or Finance

Additional Experience for Senior Accounting Operations Analyst:

Minimum one year of experience as an Accounting Operations Analyst

SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:

Accounting Operations Analyst Basic knowledge of financial reporting, including journal entries, general ledger accounts and cost center structures. Ability to analyze details of policy billing and payment data and, based on this analysis, make efficient and effective independent decisions within authority. Ability to proofread documents for accuracy of spelling, grammar, punctuation, and format. Basic Knowledge of insurance operations. Specifically, as they pertain to state specific requirements. Excellent math skills with the ability to use a ten-key adding machine. Ability to accurately interpret and analyze data. Ability to process transactions on multiple processing systems. Ability to use diplomacy, discretion and appropriate judgment when addressing internal and external customers. Ability to manage multiple priorities and meet established deadlines. Ability to proofread documents for accuracy of calculations. Excellent organizational skills and ability to prioritize work in order to meet strict deadlines. Excellent oral and written communication skills. Excellent analytical and problem-solving skills. Knowledge of computers and ability to enter alpha/numeric data accurately. Knowledge of word processing software. Basic knowledge of database software. Advanced knowledge of spreadsheet software. Ability to effectively exchange information clearly and concisely, reports facts and other information and respond to questions as appropriate. Knowledge of general ledger, policy and claim processing systems.

Additional Skills/Knowledge/Abilities required for Senior Accounting Operations Analyst Advanced knowledge and demonstrated proficiency in financial reporting, including journal entries, general ledger accounts and cost center structures. Advanced knowledge and demonstrated proficiency of insurance operations. Specifically, as they pertain to state specific requirements. Advanced knowledge and demonstrated proficiency in general ledger, policy and claim processing systems.

ADDITIONAL EDUCATION, EXPERIENCE, SKILLS, KNOWLEDGE AND/OR ABILITIES PREFERRED: Bachelor's degree in Accounting, Finance or Business. Knowledge of departmental procedures, workflows and systems. Insurance education coursework. Knowledge and experience of policy processing, claim and financial reporting systems.

WORKING CONDITIONS:

Work is performed in an office setting with no unusual hazards.

REQUIRED TESTING:

(For HR use only)

Math, 10-key data entry, alpha-numeric data entry, Intermediate Word, Advanced Excel, Intermediate Windows, Proofreading, Reading Comprehension. #J-18808-Ljbffr