Billing & A/R Specialist

Job Description

Job Description

Job Summary:

The ideal candidate is a detail-oriented individual with a strong background in accounting, billing processes and accounts receivable management. They should be able to efficiently manage multiple accounts, resolve discrepancies and ensure timely processing of outstanding payments. This person should possess the ability to apply strong analytical, organizational, technical and problem-solving skills on a daily basis.

The Billing and A/R Specialist has moderate interaction with clients and is responsible for managing and overseeing the billing process and accounts receivable related to our clients. This role involves coordinating with internal teams and clients to ensure accurate and timely billing, collection of outstanding payments, and resolution of discrepancies. In this role you are expected to maintain up-to-date records of all transactions, track payments, and manage the payment processes to optimize cash flow for the organization. The position requires strong attention to detail, excellent communication skills, and a deep understanding of billing practices.

Key Responsibilities:

• Accounting Functions:

• Deposit group premiums through check and ACH methods.
• Reconcile invoices in our policy administration system. 
• Monitor accounts receivable. 

• Billing Functions:

• Maintain master billing files for Group Payroll/List Bill groups.

• Follow up:

• Contact agent/broker or client if a problem exists with the invoice.

• Documentation:

• Maintain accurate records of customer payments and transactions in the system.

• Collaboration:

• Provide assistance and/or information as needed from the Client Representative, Account and Sales Managers.
• Asist company representatives in researching and gathering information for various requests. 

Qualifications:

• Bachelor’s degree and/or equivalent previously related work experience desired. 
• One to three years’ experience in the insurance industry.
• Intermediate knowledge of MS Office, particularly in Excel. 
• Ability to apply concepts of basic math principles to calculate discounts, interest, proportions, percentages, etc.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Ability to apply rules of policy contracts to carry out instructions furnished in written or oral form. 

Skills:

• Communication Skills: Ability to convey information clearly and effectively, both verbally and in writing.
• Accounting Knowledge: Intermediate understanding of financial transactions, invoicing, and payment processing.
• Problem-Solving Skills: Quickly identifying issues and finding effective solutions to meet customer needs
• Attention to Detail: Accuracy in entering and managing data efficiently, including maintaining financial records.
• Adaptability: Flexibility to handle various situations and adjust to changing customer needs or company policies
• Product Knowledge: A thorough understanding of the company's products or services to provide accurate information and assistance.
• Problem-Solving Skills: Ability to resolve discrepancies between customer accounts and billing records efficiently.
• Positive Attitude: Maintaining an upbeat demeanor to create a friendly and welcoming atmosphere for customers.
• Time Management: Effectively managing time to handle multiple inquiries and prioritize tasks.

Work Environment / Physical Requirements:

The work environment is a standard office setting with typical office equipment. This role involves professional collaboration with colleagues and clients. Responsibilities may involve extended periods of sitting, occasional walking between departments or meeting rooms, and periodic standing, reaching, stooping, and lifting office items weighing up to 25 pounds.