Accounts Payable Associate

Position Summary:

The Senior Premium Accounting Lead is responsible for reviewing premium invoices, ensuring compliance with policy terms and regulatory standards, and resolving policyholder inquiries to maintain customer satisfaction. The role manages premium payment processing, conducts reconciliations, and monitors collections to address overdue accounts efficiently. They coordinate policy administration tasks, maintain accurate records, and ensure adherence to insurance regulations.

Location:

London - UK - Fenchurch

What will your job entail?

Job Responsibilities:
• Reviews premium invoices for policyholders and ensures alignment with policy terms and coverage guidelines. Ensures precision in premium calculations, upholding adherence to accounting standards and regulatory requirements.
• Conducts regular reconciliations of premium receipts with bank deposits and accounting records to ensure accuracy and integrity. Generates comprehensive reports on premium collections, outstanding balances, and aging receivables for thorough management review.
• Manages and resolves inquiries from policyholders regarding premium invoices and billing discrepancies, ensuring high-quality customer service.
• Processes premium payments via multiple methods, including checks, electronic transfers, and credit card transactions, while meticulously reconciling payments with invoices.
• Monitors payment collections and proactively addresses overdue accounts, implementing necessary follow-up procedures as required.
• Maintains up-to-date and precise records of policyholder information, premiums, and payments within the company's database or management system.
• Ensures strict adherence to insurance regulations, accounting standards, and internal policies and procedures governing premium accounting and billing practices.
• Identifies opportunities for process enhancement and optimization in premium accounting procedures, including automation and system improvements.
• Coordinates policy administration tasks such as data entry, policy issuance, policy updates and maintenance of accurate records.
• Remains informed about changes in regulatory requirements and industry best practices relevant to premium accounting and collections.
Work Experience and Education:
• Bachelor’s degree required; Finance, Accounting and Business Administration, preferred. Any other related discipline or commensurate work experience considered.
• Minimum of 2 years of experience in premium accounting or accounting in Insurance Industry is preferred.

Disclaimer

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.