Premium Accounting Cordinator

Ryan Specialty Group • Melville, NY

4d • $24 - $30

About The Position

Position Summary The Premium Accounting Coordinator is responsible for generating accurate premium invoices, processing payments via multiple methods, and ensuring adherence to underwriting guidelines. The role supports the management and analysis of premium-related financial transactions, reconciles premium payments, and ensures accurate processing of coverage and billing. They support audits by reviewing necessary documentation and apply accounting principles to ensure accuracy and validity of audit results. What will your job entail? Job Responsibilities:

Requirements

• Bachelor's degree required; Finance, Accounting and Business Administration, preferred.
• Any other related discipline or commensurate work experience considered.
• Minimum of 6 months of experience in premium accounting or accounting in the Insurance Industry is preferred.

Responsibilities

• Assists in the management and analysis of premium-related financial transactions and compiles relevant coverage and financial documents.
• Generates premium invoices for policyholders based on policy terms and coverage and ensures accuracy in premium calculations and adherence to underwriting guidelines.
• Receives premium payments from policyholders, generates reports on premium collections, outstanding balances, aging receivables and follows up on overdue accounts.
• Maintains accurate and up-to-date records of policyholder information, premiums, and payments in the company's database or management system.
• Supports the team to review records and client data in systems and handles inquiries from policyholders regarding premium invoices and billing discrepancies.
• Reconciles premium payments received from policyholders with the policy records in the company's database to ensure accuracy and identifies any discrepancies.
• Identifies and investigates discrepancies or irregularities in premium accounting records and take appropriate corrective actions.
• Carries out administrative tasks such as data entry, policy issuance, and modifies policy information while ensuring alignment with industry standards and regulations.
• Identifies opportunities to improve efficiency and effectiveness in premium accounting processes, such as automation, system enhancements, or workflow optimizations.
• Assists with internal and external audits by providing documentation, reconciliations, and explanations related to premium accounting activities.

Benefits

• Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals.
• In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
• For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level