The Accounts Receivable / Senior Finance Analyst (OTC) will be responsible for managing commission receivables from insurance companies and ensuring timely collection, receipt, posting, and reconciliation of direct bill commissions. The role involves following up with insurance companies for outstanding commissions, performing daily, weekly, and monthly reconciliations, and processing corrections or changes to broker commission rates.
The specialist will also be responsible for tracking direct bill commission information, including carrier name, check received date, commission amount, and processing completion date, while ensuring all changes are accurately documented. Relevant accounting experience in the insurance brokerage or Property & Casualty (P&C;) insurance industry is preferred. Hands-on experience with EPIC and knowledge of insurance agency management systems such as BenefitPoint and Applied EPIC are preferred.
Key Responsibilities
- Reconcile commission receivables from insurance companies.
- Follow up with insurance companies to ensure collection of commissions due.
- Ensure accurate and timely receipt of direct bill commissions.
- Post and reconcile direct bill commissions on a daily, weekly, and monthly basis.
- Process corrections and changes to broker commission rates as necessary.
- Track direct bill commission information accurately.
- Maintain details such as carrier name, date check received, commission amount, and date processed and completed.
- Ensure all changes to commission information are properly noted.
- Maintain accurate accounting and reconciliation records.
- Support timely completion of commission-related activities.
Required Qualifications & Experience
- Graduate.
- 4–6 years of relevant accounting experience.
- 4–6 years of billing/accounting experience in the insurance or financial services industry.
- Experience in the insurance brokerage industry or P&C; insurance is preferred.
- Working knowledge of insurance agency management systems (AMS) is preferred.