The Premium Accounting Analyst performs various duties assigned that are related to incoming payments from clients including collection of premiums from clients, monthly client billing, premium reconciliation, and payments to retrocessionaires. This position is responsible for recording payment information in the policy administration system and interacts with internal departments and clients.
It also supports the Administration teams by acting as the gate keepers and controllers of internal and external communication impacting policy management and assists with cash entry, light maintenance and terminations.
MAIN AREAS OF RESPONSIBILITY
Premium Accounting Services:
Perform daily premium receivable and payable tasks which include:
- Determine the allocation of receivables for each client account.
- Create billing statements and cash receipts.
- Track and handle collection of late premiums from clients.
- Assist in resolving premium related issues with internal and external clients. (Is this intermediate?)No, this is related to Premium and File discrepancies.
- Compile client payment requests for outgoing remittances. Record corresponding annotations and send notification to external clients for premium reimbursements.
- Accurately compile and review quarterly reports for retrocessionaires and brokers according to established time standards.
- Adhere to quality and time service standards and established internal controls.
- Serve as the communication hub for payment and payment details provided by the clients.
Administration Support Responsibilities:
- Navigate incoming files and communication from the ADMIN E-mail Mailbox to internal client folders being sure to update internal tracking tools in an accurate and timely manner. Escalate any time sensitive items to account analyst and their manager.
- Establish an individual inventory record for policy administration in our ADMIN system for future processing of New Business and Maintenance records.
- Assist Production Team in processing of non-complex maintenance and terminations.
- Assist in the entering detailed policy payments from our client’s billing reports that balance with their overall payment
- Validate manual block claims and cash surrender values.
Assisting in Administration team and departmental duties as needed such as:
- Ad Hoc Projects
- Assist with other Administration Division duties as needed or assigned.
KNOWLEDGE, SKILLS, ABILITIES AND QUALIFICATIONS
Knowledge, Skills & Abilities:
- Detailed oriented - comfortable with numbers and math.
- Ability to work independently after sufficient training.
- Ability to multi-task and manage time effectively.
- Solid written and verbal communication.
- Strong collaboration skills.
- Strong organization skills
Intermediate Premium Accounting Analyst:
- Eager to learn and will ultimately become a subject matter expert
- Strong Interpersonal skills
- Ability to train and support their peers (Added Bonus: ability to create user friendly procedures.)
- Someone who can identify areas for improvement in efficiency and communicate effectively suggested ideas for change.
- Exhibits careful attention to details with large, diverse sets of data in a fast-paced environment.
- Highschool graduate and/or some college
- 1-2 Years of office experience
- Basic skills using Microsoft Outlook, Excel and Word.
Intermediate Premium Accounting Analyst:
- 3-4 Years of office experience
Optimum Re Insurance Company
We aim to build successful partnerships and are committed to supporting the development of life insurance companies of all sizes in the United States. We offer our clients competitively priced reinsurance solutions, additional capacity when needed most, expert underwriting services, insightful research and development, state-of-the-art individual cession administration and skilled claims adjudication know-how. We are a leader in critical illness insurance and other niche markets, thanks to our extensive and recognized knowledge in risk management and claims assessment.
Our customized solutions tailored to the needs of our clients have allowed us to grow in a rapid yet controlled manner. We continue to expand our market presence organically and through select acquisitions.
Since 1987, we serve our clients throughout the United States from our office in Dallas, Texas. Our financial strength rating is “A” (Excellent) with a stable outlook.
1345 River Bend Drive, Suite 100
Dallas, TX 75247
Tel.:+1 214 528-2020