Role Name: Accounts Payables - Premium payables.
Job Location: Pune
Responsibilities:
- Strong understanding of producer and broker payable operations, ensuring accurate and timely completion of commission and bonus payments. Demonstrates ability to provide guidance or training to another employee.
- Monitor, review and approve producer and broker payable transactions, including commissions, bonuses, and other related payments.
- Collaborate with internal departments, such as accounting, sales, and human resources, to gather necessary information and resolve any payment-related issues.
- Completes a higher volume of tasks and demonstrates ability to navigate complex processes.
- Accurate and timely receipt, posting, and reconciliation of direct bill commissions from insurance companies on a daily, weekly, and monthly basis
- Process corrections and changes to broker commission rates as necessary.
- Track direct bill commission information not limited to carrier name, date check received, commission amount, and date processed and completed. Ensure all changes are noted.
- Frequently coordinate and correspond with other internal departments.
- investigate and resolve issues not limited to commission discrepancies, and follow up on outstanding items
- Ensure all correspondence and requests are documented and attached to the appropriate file in the appropriate systems
Technical Skills
- Bachelor's degree in accounting, finance, or a related field (preferred)
- 2 years of insurance accounting experience in processing payments or commissions to sales individuals
- Excellent knowledge of insurance products, sales processes, and commission structures as well as knowledge of producer and broker payment processes, including commissions and bonus calculations.
- Working knowledge of various insurance agency management systems (AMS) such as Benefit Point Applied EPIC is preferred
- Willingness to work in US shift hours (CST hours)
Skills & Experience.
- Bachelor of Science degree in accounting, finance, or a business-related field.
- 1-6 years of relevant accounting experience in the insurance brokerage industry or P&C insurance is preferred.
- Working knowledge of various insurance agency management systems (AMS) such as Benefit Point Applied EPIC is preferred.
- Proficient with MS Office Suite.
- Ability to maintain a high level of confidentiality.
- Strong analytical and organizational skills with attention to detail .
- Ability to execute transactions as per prescribed guidelines and timelines in order to meet the SLA and quality standards.
- Willingness to work in US shift hours (CST hours).
