Carrier Payables Specialist

Job Summary

The Carrier Payables Specialist is responsible for the full cycle of insurance premium payables, including, but not limited to, timely and accurate payment of Insurance carrier accounts and reconciliation, research, and balancing of complex general ledger account transaction activity, ensuring critical timelines are met. The Carrier Payables Specialist is part of a team effectively processing transactions for over 100 carriers across multiple entities, branches, and departments, including external and intercompany transactions.

Essential Job Functions

• Accurate and timely reconciliation of carrier statements and/or individual carrier invoices against EPIC invoicing, ensuring accuracy and compliance with internal policies and external regulations (both state and insurance carrier requirements)
• Research and resolve discrepancies such as missing statements, payment variances, billing discrepancies and unapplied cash, working with brokers and carriers to resolve issues, as well as with internal Account Managers to determine the appropriate corrective action needed
• Develop and maintain focused knowledge on assigned carriers to ensure effective execution of the processes around each carrier’s expectations
• Verify client billing and collection has occurred, and/or escalate for advance payment consideration
• Process payments, using multiple bank accounts, depending on the entity
• Independently create adjusting entries, as necessary, throughout the reconciliation process
• Process payments to finance companies as needed for financed policies
• Process returned premiums, including the appropriate determination for when returns should be issued to customers vs. premium finance companies
• Critical thinking and decision making involved with reconciliation of general ledger liability balances, against detailed subsidiary, for all carriers in areas of responsibility, to anticipate E&O exposure and risk of financial errors for accurate record keeping in the agency management system
• Develop and maintain effective relationships with carrier contacts, ensuring open communication and a joint resolution process, as issues arise
• Support team members in similar roles, as a backup or in heavy volume times, in support of a strong team environment, including mentoring newer members to the team
• Support other Insurance Accounting functions, with knowledge and developed experience, as needed
• Expectation for the use of AI/Technology as an ongoing resource in the performance of essential job functions, ensuring overall efficiency
• Perform all actions relating to customers and companies in a manner that will avoid issues involving potential errors and omissions
• Participate in seminars and other training for knowledge and skill development

Additional Responsibilities
This job description is intended to describe the level of work required of the person performing the position. Essential functions are outlined; however, other duties may be assigned, as needs arise, or as required to support the essential functions. Specific performance objectives may be developed each year to measure the performance of the tasks and functions listed in this job description.
Telecommuting opportunities vary by location, department, and business need and are subject to change, as needed. Each manager will provide details on any telecommuting opportunities, as well as scheduling, within their department.