Accounts Payable Specialist

Gregory & Appel Inc•Indianapolis, IN

11h

About The Position

The Accounts Payable Specialist is responsible for executing and managing complex accounts payable, carrier payment, and regulatory compliance activities for the agency. This role requires independent judgment to ensure vendor and carrier payments are accurate, properly coded, approved, reconciled, and aligned with finalized billing activity, contractual terms, and accounting standards. In addition to vendor and carrier disbursements, this position is accountable for carrier statement reconciliation, variance resolution, and surplus lines filings and payments. The role operates as a key execution and control function within the finance organization, partnering closely with Accounting, AR/Billing, Operations, and Client Service teams to support accurate financial reporting, compliance, and scalable processes.

Requirements

Strong attention to detail with a demonstrated ability to execute complex accounts payable, carrier payment, and regulatory processes accurately and consistently.
Thorough understanding of accounts payable workflows, including invoice review, approval validation, and payment execution.
Working knowledge of insurance agency accounting processes, including agency bill and direct bill activity.
Experience reconciling carrier current statements to agency management systems and general ledger balances.
Ability to analyze and resolve variances related to commissions, fees, timing differences, unapplied items, and surplus lines charges.
Understanding of invoice coding practices to support variance analysis, reporting, and financial review.
Knowledge of internal control principles, approval frameworks, and documentation standards.
Ability to exercise independent judgment when determining payment readiness based on completed billing activity and reconciliation status.
Familiarity with surplus lines filings, tax calculations, and state remittance requirements.
Familiarity with state-by-state annual filings, tax calculations, and state remittance requirements.
Ability to identify discrepancies, assess root cause, and drive resolution through cross-functional collaboration.
Strong written and verbal communication skills, including the ability to clearly document reconciliations and explain issues to non-financial stakeholders.
Ability to collaborate effectively with Accounting, AR/Billing, Operations, Client Service teams, carriers, vendors, and regulatory entities.
Strong organizational and time management skills with the ability to manage multiple deadlines and recurring monthly and annual obligations.
Driven, accountable, detail-oriented, and a self-starter with a strong sense of ownership.
Willingness to perform hands-on execution work while continuously improving processes and controls.
Minimum of 5 years of progressive accounts payable, insurance accounting, or related financial operations experience.
Prior experience managing carrier payments and reconciling carrier statements in an insurance agency or brokerage environment.
Experience working with agency management systems (e.g., Epic, AMS360, or similar) and general ledger platforms.
Demonstrated experience supporting month-end close, reconciliations, and audit or regulatory review processes.
Bachelor’s degree in Accounting, Finance, Business, or a related field required, or an equivalent combination of education and relevant work experience.

Nice To Haves

Experience with surplus lines filings, tax calculations, and state remittances preferred.
Experience state-by-state annual filings, tax calculations, and state remittances preferred.
Prior experience in a regulated, professional services, insurance, or financial services environment preferred.
Continuing education related to insurance accounting, surplus lines compliance, or regulatory reporting preferred.

Responsibilities

Execute end-to-end accounts payable activities for vendors and insurance carriers, ensuring payments are accurate, timely, properly coded, and aligned with contractual terms, internal policies, and accounting standards.
Ensure vendor invoices and carrier-related charges are coded consistently to support variance analysis, reporting, and financial review.
Verify invoices have appropriate approvals prior to payment in accordance with established authorization guidelines.
Apply professional judgment when determining payment readiness based on completed billing activity, confirmed application of funds, and reconciliation status.
Execute carrier payment processes that align remittances with finalized premium transactions and validated system balances.
Serve as a key control point in carrier-related disbursements by ensuring payments reflect complete, supportable, and reconciled balances.
Perform detailed reconciliations of carrier current statements to agency management systems and general ledger accounts.
Work with AR/Billing and Client Service teams to confirm invoices have been issued and premiums billed prior to carrier remittance.
Analyze and resolve variances related to commissions, fees, timing differences, surplus lines charges, unapplied items, or system discrepancies.
Partner cross-functionally to research discrepancies and drive timely resolution.
Prepare and submit required surplus lines filings on a monthly basis in accordance with state regulatory requirements.
Prepare and submit required state-by-state annual filings in accordance with state specific regulatory requirements.
Calculate surplus lines taxes and fees and ensure accurate, timely remittance to applicable states, including annual payments made each January.
Maintain documentation to support surplus lines compliance, audits, and regulatory inquiries.
Communicate directly with carriers, vendors, and regulatory entities to clarify statements, resolve discrepancies, and confirm payment alignment.
Provide accurate status updates and supporting documentation related to reconciliations, variances, carrier payments, and surplus lines activity.
Act as a subject matter resource for carrier payment workflows, reconciliation methodology, and surplus lines processes.
Support month-end close by ensuring carrier payables and related accounts are accurate, reconciled, and properly supported.
Maintain documentation to support internal review, audit, and compliance requirements.
Contribute to continuous improvement of accounts payable, carrier reconciliation, and regulatory reporting processes, including system or automation enhancements.
Assist in documenting and maintaining standard operating procedures.