Collections Analyst Job at Arch Insurance Group Inc.
The Position:
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.
The Collections Analyst will be responsible for analyzing policy premium balances and the timely collection of outstanding premiums within our Alternative Market Finance Team. In this position, you will be assigned a group of captive accounts to manage. This role will have interactions with Program Administrators, 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
- 4 – 6 years Insurance experience preferably finance, collections or premium audit collections
- Advanced knowledge of Microsoft Office products
- Experience with Cognos, Power BI, Great Plains, or Alteryx are a plus
- 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
- Understanding of Captives and/or Reinsurance business are a plus
- Bachelor’s degree – preferably in Accounting or Finance
- For individuals assigned or hired to work in , the base salary range is USD $53,300.00/Yr. to USD $66,600.00/Yr. as of the time of posting. Position is incentive eligible.
- Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above range may be modified in the future
- Click here to learn more on available benefits
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.
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