Receivables Analyst

In this intermediate-level financial job, you will perform billing and collection accounting covering several plans and programs, including account reconciliation, preparation and issuance of invoices and use of letters of credit. Receivables Analysts interact with internal departments, attorneys and customers to resolve account disputes and collect outstanding balances. You will describe billing services to external customers in a way that is easy for them to understand. You will also analyze account activity and provide exhibits that support account statements and reports requested by customers and internal departments, as well as analyzing and identifying cash flow opportunities.

Responsibilities

• Sets up billing plan in the system using the customer's plan and rate structure, payment mechanisms, premium information, and eligibility information.
• Prepares billing invoices and supporting documentation for assigned accounts based on the requirements and billing cycles ensures billing information is accurate, complete, and delivered on time.
• Follows with Sales and Underwriting for timely billing instructions as evidenced by premium management report results.
• Initiates the collection processes for each account, such as the electronic draw from the customer bank account or monthly draw from collateral account (pre-funding cash collateral payment plan).
• Performs various accounting functions, including invoicing, analyzing customer payments and managing the book and receivable account in an automated customer accounting system.
• Resolves billing and collection questions and disputes by analyzing financial information, working with internal departments to resolve premium booking discrepancies, negotiate extension of credit, etc.
• Partner with market stakeholders to ensure the availability and integrity of all financial information to customers.
• Creates exhibits to support and summarize relevant account information.
• Initiates phone call to customer on or before the due date to ensure the customer received and agreed with the invoice amounts determines whether to initiate the dispute resolution process and collection process for overdue accounts.
• Manage dunning activity including negotiating, issuance of non-pay cancellations, and referring accounts to in-house attorney units.
• Recommend drawing on letters of credit to satisfy customer balance.
• Reconciles balances to reflect activity (e.g., earned premium, loss expenses, vendor charges or rating adjustments), including loss sensitive plans, bank statements and retrospective rating adjustments.
• Suggest changes and identify opportunities for improvement of customer service, cash flow and business process improvement. Deliver prompt and professional service to both internal and external customers.