Billing & Collection Specialist

CNA Insurance • Lake Mary, FL

4d • $54,000 - $103,000 • Hybrid

About The Position

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential. Under technical direction assigns cases and provides technical expertise to legal collection staff including guidance and setting collection strategies for the most complex accounts with the highest financial exposures. JOB DESCRIPTION: Essential Duties & Responsibilities Performs a combination of duties in accordance with departmental guidelines: Serves as technical expert to the legal collections staff providing guidance on collection strategies and evaluations. Evaluates most complex cases and establishes collection strategies. Assigns cases to collection agencies and/or attorneys as required. Responsible for trial preparation, witness preparation, mediation, negotiation and settlement of collection actions. Evaluates case exposures, cost benefit analysis, and determines best practices or strategy to resolve matter including negotiated settlement, write-off, revision, and premium re-audits. Initiates action to resolve matter in manner that is in the best interest of CNA including using assigned write-off authority and settlement authority. Maintains detailed file activity documentation through closure of collection efforts. Ensures accounts are reconciled between collection central and source ledger processing systems. Trains and mentors collection and accounting staff in the legal collections area. Reporting Relationship Manager or above

Requirements

• In-depth knowledge of legal collections methods, systems and related interfaces and claims systems and claims reports.
• Strong understanding of accounting principles and procedures and cash flow concepts, collateral arrangements, and finance agreements.
• Strong understanding of the insurance industry and property casualty products for large commercial clients.
• Excellent communication, negotiating and influencing skills needed to deal effectively with high profile individuals often regarding sensitive collection issues.
• Ability to mentor others and foster teamwork.
• Strong analytical and problem-solving skills.
• Knowledge of computer applications, including Microsoft Office Suite and other business related software.
• College degree or equivalent experience.
• Typically a minimum of seven years related experience in collections

Responsibilities

• Serves as technical expert to the legal collections staff providing guidance on collection strategies and evaluations.
• Evaluates most complex cases and establishes collection strategies.
• Assigns cases to collection agencies and/or attorneys as required.
• Responsible for trial preparation, witness preparation, mediation, negotiation and settlement of collection actions.
• Evaluates case exposures, cost benefit analysis, and determines best practices or strategy to resolve matter including negotiated settlement, write-off, revision, and premium re-audits.
• Initiates action to resolve matter in manner that is in the best interest of CNA including using assigned write-off authority and settlement authority.
• Maintains detailed file activity documentation through closure of collection efforts.
• Ensures accounts are reconciled between collection central and source ledger processing systems.
• Trains and mentors collection and accounting staff in the legal collections area.

Benefits

• CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals.
• For a detailed look at CNA’s benefits, please visit cnabenefits.com.
• CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact [email protected].
• At CNA, we are focused on success, individually and collectively. We pride ourselves on promoting a culture that challenges and engages people. We strive to connect people, departments and business areas, to function as a team, and to serve our customers and communities with professionalism and respect. Our dedication to employee engagement, continuous learning and the open exchange of ideas is the cornerstone of our business. These ideals, combined with our focus on the customer, enable us to explore new market opportunities and build on our success.
• Our values, culture and financial strength are what differentiates us from other employers and make CNA the place you want to work.
• At CNA, we are committed to advancing a culture of inclusion – one that attracts talent from all walks of life, fosters respect and collaboration, and enables all of our colleagues to do their best work.
• At CNA, we have a long standing commitment to the diverse communities in which we live and work. We actively make a difference for the greater good through partnerships, sustainability, initiatives, and working together for a better tomorrow. Corporate Social Responsibility is not one person, or one department, it's the entire enterprise coming together to make the world a better place.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees