Overview
This Accounts Receivable Analyst role focuses on ensuring accurate, timely application and reconciliation of premium payments for insurance products. The position supports financial integrity, audit readiness, and operational excellence while partnering with third-party administrators (TPAs), vendors, and internal teams.
Responsibilities
- Apply premium payments: Accurately process and apply payments; request and review backup worksheets; correct backup documentation; send variance correspondence.
- Return premium disbursements: Handle returned premium disbursement transactions while ensuring compliance and proper documentation.
- Variance reporting & reconciliation: Prepare and analyze variance reports to reconcile incorrectly applied premiums; send variance communications for short or overpayments to TPAs; maintain detailed journal notes of all corrections.
- Premium adjustments: Process premium backouts and reapplications related to Policy Administration system changes.
- Vendor & ACH setup: Initiate and process ACH setups for new vendors and accounts, ensuring correct procedures and authorizations.
- Email management & communication: Respond to inquiries from internal teams and TPAs; manage a high volume of daily working emails; maintain an organized premium payment email folder.
- Audit support: Collect and prepare backup documentation for internal and external audits; support auditor requests and compliance checks.
- Regulatory reports: Generate and distribute annual 5500 – Schedule A reports as required.
- Folder & document management: Create and manage daily/monthly cash reconciliation folders, including organizing TPA backup worksheets for audit purposes.
- Process improvement: Identify and suggest process optimizations to improve efficiency and accuracy in AR functions.
Additional Responsibilities
- Support month-end and year-end closing activities.
- Maintain comprehensive AR records in accordance with company policy and insurance regulations.
- Collaborate cross-functionally with Finance, Underwriting, Claims, and IT to resolve billing issues.
- Track key AR metrics and report on status, trends, and outstanding items.
- Provide training support to team members as needed.
- Assist with special projects and ad hoc assignments as delegated.
Qualifications
- Bachelor’s degree in Accounting, Finance, or related field (or equivalent experience).
- 2+ years in accounts receivable, insurance billing, or a similar role (preferred).
- Thorough knowledge of AR processes, reconciliation, and regulatory reporting (insurance industry experience a plus).
- Proficiency with accounting systems, Excel, and document management tools.
- Strong written and verbal communication skills.
- Excellent organizational skills and attention to detail.
Skills
- Data analysis and reconciliation
- Problem-solving mindset
- Ability to manage multiple priorities in a fast-paced environment
- High degree of integrity and confidentiality
- Customer service orientation
- Ability to maintain training documentation (preferred)
Compensation & Benefits
- Base salary: $60,000 - $75,000
- Base pay may be determined by factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements.
- May be eligible for performance-based incentives in addition to base salary.
- Competitive total rewards package including:
- Health and welfare benefits
- Tuition and professional certification assistance
- 401k savings
- Elective participation in the Employee Stock Purchase Program
- Paid time off
- Paid holidays
- Child bonding leave
- Other employee assistance