Disbursement Clerk II

Prosperity Life Group•Austin, TX

1d•Hybrid

About The Position

Prosperity is seeking a Disbursement Clerk II to support premium payment processing for its life insurance and annuity business. The role requires strong attention to detail, knowledge of premium payment processing, and reliable service in a regulated insurance environment. The clerk processes and applies renewal premium payments—including checks, credit cards, wire transfers, pre-authorized payments, outgoing EFTs, and group billings—and handles returned checks, ACH transactions, and EFTs. The position also responds to inbound phone inquiries and provides timely service to policyholders and business partners. The clerk works with internal teams, agents, and policyholders to resolve discrepancies, reconcile accounts, obtain documentation, and support timely payment application. Responsibilities include reviewing documentation, following compliance requirements such as anti-money laundering guidelines and IRS cash reporting standards, conducting quality control, communicating about payment updates and declined transactions, investigating billing issues, maintaining accurate records, and providing backup support across premium accounting and disbursement functions.

Requirements

High school education or GED required.
3–4 years of experience processing payments.

Responsibilities

Process and apply premium payments, primarily for renewal policies, including checks, credit cards, wire transfers, pre-authorized payments, outgoing EFTs, and group billings.
Process returned checks, returned ACH transactions, returned EFTs, and other premium-related transactions.
Ensure payments are accurately applied and documented in accordance with established procedures and timelines.
Review payment documentation for accuracy and completeness and resolve discrepancies as needed.
Follow applicable compliance requirements, including federal anti-money laundering guidelines and IRS cash reporting standards.
Perform quality control checks to ensure payment processing procedures are effective and consistently followed.
Generate and respond to correspondence with agents and policyholders about payment updates, declined transactions, and discrepancies.
Communicate with internal and external customers to obtain required documentation and resolve issues in a timely manner.
Identify, research, and resolve billing discrepancies and payment issues.
Determine appropriate reassignment of charges and update files to maintain accurate records.
Provide backup assistance to team members across premium accounting and disbursement functions as needed.
Respond to inbound phone inquiries and provide service to policyholders and business partners.