Accounting Specialist

The Role

The Premium Accounting Specialist role is primarily responsible for managing receivables for direct delegated agreements. This role involves reviewing the Canopius US Insurance Inc. (CUSI) premium trust account for remittances received, ensuring remittances tie to supporting paid premium bordereaux, processing paid premium bordereaux via OWIT Global BDX-Central, reviewing past due balances and working with MGAs to resolve outstanding amounts due.

• Monitor the CUSI premium trust account for remittances received
• Review the premium trust account regularly for remittances received.
• Ensure that the remittance total matches the total net amount due on the corresponding paid premium bordereaux for direct agreements.
• Ensure that the remittance total matches the total net amount due (assumed premium less losses) for assumed agreements. Follow up with appropriate MGA or reinsurance broker contact to resolve discrepancies between remittance and remittance detail.
• Follow up with MGAs and/or reinsurance brokers for remittances not received by the due date.
• Process payments
• Process all paid premium bordereaux via OWIT Global BDX-Central prior to closing each month.
• Manage Accounts Receivable balances
• Continually monitor aging of receivables, including unapplied payments and suspense payments, and engage with appropriate accounting contacts (MGA for direct agreements or reinsurance broker for assumed agreements) to address past due balances.
• Escalate collection issues to the appropriate underwriter to pursue collections when necessary.
• Work with the Data Operations team to address risk transaction reporting issues that may be identified as past due credit or debit balances in aged receivables, unapplied payments and suspense payments.
• Process write-offs as appropriate within authority for balances that are deemed uncollectable.
• Support the month end closing process
• Produce a bank reconciliation on a monthly basis to detail changes in balance comparing the beginning and ending of each accounting period.
• Request premium disbursements (refunds) as necessary.

• 2+ years of insurance accounting experience.
• Knowledge of insurance policy administration and billing/accounting systems a plus.
• Math skills
• Bookkeeping skills
• Microsoft Excel skills
• Ability to work in a team environment
• Strong customer service skills
• Strong interpersonal and written/verbal communication skills
• Excellent interpersonal skills to effectively provide accurate and timely responses to internal and external customers
• Ability to work effectively in a customer-oriented and team-based environment
• Ability to quickly build relationships with underwriters and brokers and work closely with them to resolve policy discrepancies.
• Strong research and analytical skills.
• Ability to effectively prioritize daily work efforts.
• Ability to acclimate self to new systems quickly and proficiently.
• Ability to deal with time pressures and multiple priorities.
• Business Process Improvement
• Change Management
• Control Assurance
• Data Management
• Documentation & Records Management
• Insurance Industry Expertise
• Regulatory Compliance
• General Ledger Accounting & Reconciliation
• Process Standardization & Automation
• Tax & Accounting Principles and Standards
• Tax & Financial Accounting
• Tax & Financial Reporting
• Salary Range: $50,000 - $70,000