1 Collections Analyst Job in Jersey City, NJ
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Arch Insurance Group Inc. is Hiring a Collections Analyst Near Jersey City, NJ
The Position
The Collections Analyst will be responsible for analyzing policy premium balances and the timely collection of outstanding premiums. In this position, you will be assigned group of accounts to manage. This role will have interactions with brokers, insureds, underwriters and other members of the finance team.
Job Responsibilities
- Communicating outstanding premium balances to brokers
- Issuing cancellation notices for non-payment of premium
- Reconciliation of outstanding balances
- Troubleshoot discrepancies involving premium, commission and payment differences
- Requesting disbursements for return premium balances
- Unapplied cash resolution
- Direct Collection of outstanding final audit balances to insureds
- Maintain proper account of collection efforts
- Work to clarify the resulting final audit and remove any doubt the insured may have disputing the amount owed
- Provide Collection Agency Support preparing and submitting account documentation necessary for direct collection
- Provide Legal Support by compiling account documentation necessary for litigation
- Special projects and system user acceptance testing as needed
Required Skills/Experience
- Strong reconciliation, analytical and business problem solving skills
- Strong interpersonal and organizational skills
- Excellent written and verbal communication skills
- Ability to work well independently and as part of a team
- Ability to work on several tasks simultaneously
- Attention to detail
- Advanced knowledge of Microsoft Office products
- Experience with Cognos, Power BI, Great Plains, or Alteryx are a plus
Education
- Bachelor’s degree – preferably in Accounting or Finance
- 2 – 4 years Insurance experience preferably finance, collections or premium audit collections
The Company
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries. With nearly 20 years of operating history and strong financial ratings, our track record remains solid.
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.
Job Summary
Other
Insurance
07/22/2022
12/12/2022
archinsurance.co.uk
LONDON
200 - 500
2004
STEPHEN NEIL BASHFORD
$10M - $50M
Insurance
Related Companies
The following is the career advancement route for Collections Analyst positions, which can be used as a reference in future career path planning. As a Collections Analyst, it can be promoted into senior positions as a Collections Supervisor that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Collections Analyst. You can explore the career advancement for a Collections Analyst below and select your interested title to get hiring information.
If you are interested in becoming a Collections Analyst, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Collections Analyst for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Collections Analyst job description and responsibilities
Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
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Work remittance advice from Medicaid and Medicare ensuring accuracy of payments, correcting account billing according with Medicaid or Medicare disposition.
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Maintain active communication with supervisor and co-workers to develop a cohesive and supportive unit.
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Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Collections Analyst jobs
Interpret all complex terms for collection process and affiliate agreement terms and maintain relationships with all internal and external customers.
02/25/2022: Syracuse, NY
Assist manager to provide resolution for all collection and manage large amount of data for invoices and maintain knowledge on all variances to ensure prevention in reoccurrence.
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Analyze collection processes to recommend improvements.
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Contact customers to collect payments on delinquent accounts.
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Confer with credit association and other business representatives to exchange credit information.
04/09/2022: Baton Rouge, LA
Step 3: View the best colleges and universities for Collections Analyst.
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