Disbursement Clerk II
About The Position
The Disbursement Clerk II processes premium payments and related transactions for the company’s life insurance and annuity business. The role handles payments including checks, credit cards, wire transfers, pre-authorized payments, outgoing EFTs, and group billings, as well as returned checks, ACHs, and EFTs. It ensures transactions are accurately documented and processed in accordance with established procedures and timelines. The clerk reviews payment documentation, resolves discrepancies, performs quality checks, and follows applicable compliance requirements, including federal anti-money laundering guidelines and IRS cash reporting standards. The role works with internal teams and, when needed, agents and policyholders to resolve payment issues, obtain documentation, reconcile accounts, and support timely premium application. It also provides backup support across premium accounting and disbursement functions.
Requirements
- High school education or GED.
- 3–4 years of experience processing payments.
Responsibilities
- Process and apply multiple forms of premium payments, primarily for renewal policies, including checks, credit cards, wire transfers, pre-authorized payments, outgoing EFTs, and group billings.
- Process premium-related returned transactions, including returned checks, ACHs, and EFTs.
- Ensure payments are accurately applied and documented, and completed 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 documentation and support timely resolution.
- Investigate and resolve billing discrepancies and payment issues.
- Determine appropriate reassignment of charges and update files to maintain accurate records.
- Provide backup assistance across premium accounting and disbursement functions as needed.
Benefits
- Comprehensive medical coverage
- Dental coverage
- Vision coverage
- Health savings account (HSA)
- 401(k) company match
- Paid time off
- Employer-paid life insurance
- Employer-paid disability insurance
- Variable compensation package
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What This Job Offers
Job Type
Full-time
Education Level
High school or GED
