Accounting Operations Analyst
Company: Accident Funds
Posted on: January 16, 2020
Pay Rate: $18.02/hr
This job is primarily responsible for Enterprise wide cash
receipts, refunds and uncollectible processes. This position
requires working in several billing, receivable and ancillary
systems that require manual intervention due to complexity of
systems and products underwritten by the Enterprise. Supports
financial reporting via complex multi-entity ledger entries and
daily reconciliation of cash and receivable transactions.
Responsible for providing accurate and consistent services
regarding premium and non-premium payment transaction activity,
uncollectible transactions and other ad hoc requests. Contacts
include various employees of the Enterprise, agents, policyholders,
customers, medical facilities, other insurance companies, NCCI and
- Maintains an in-depth knowledge of Enterprise billing, policy,
claim, dividend and commission structures, Enterprise systems, and
applicable regulatory requirements related to specialty lines
(servicing carrier, commercial auto, retro policies), claims and
- This position requires working in several billing, receivable
and ancillary systems that require substantial manual efforts due
to system limitations or complexity of products underwritten by the
- Prepares complex multi-entity journal entries from Enterprise
system reports, including but not limited to, premium receivables,
small deductibles, agency receivables, write-offs, claims,
miscellaneous cash and refunds.
- Independently researches issues related to cash receipts, makes
appropriate inter-company fund transfers or corrections. Makes
independent general ledger correcting entries when deemed
- Completes daily reconciliation of cash receipts from multiple
sources against receivable reports from various Enterprise and
- Balances, validates and posts incoming cash remittances and
other receivable-based transactions to various billing and
ancillary systems for the Enterprise, including but not limited to,
premium receipts, commission recoverable, claim recoveries and
- Researches, reconciles and processes premium and miscellaneous
refunds for the Enterprise involving manual effort due to system
- Completes all premium write-off requests for the Enterprise.
Reviews requests and ensures proper authorization before completing
- Reconciles write-off requests to the bad debt database and
policy processing systems. Sends the external collection agency
uncollectible policy balances and ensures it agrees to the
Enterprise's uncollectible database.
- Researches and monitors suspended cash for the Enterprise.
Follow-up with policyholders, agencies and various institutions to
ensure timely and accurate posting of cash receipts. Requests
refunds as necessary.
- Receives, researches, identifies, and batches all incoming
checks for posting by verifying amounts, dates, addresses, and
other details via systems for the Enterprise.
- Responsible for calculating and creating statements for
Enterprise Dividends and responding to internal and external
inquiries regarding Dividends.
- Researches and identifies all NSF and returned ACH payments for
the Enterprise. Applies fees as necessary.
- Prepares, balances and performs check deposits for the
- Monitors and tracks collateral to ensure loss funds are
- Responds to internal and external customer requests via
telephone, written or electronic correspondence. Ad hoc
correspondence is drafted to address complaints or requests for
information, including but not limited to, regulatory inquiries
related to claim recoveries, reconciliation of premium payments,
uncollectible balances, and commission receivables and
- Administers petty cash fund and reconciles available funds and
- Processes pay by phone transactions
- Maintains confidentiality of information processed.
Additional Responsibilities for Senior Accounting Operations
- Provides support and direction to the Accounting Operations
- Leads inquiries for internal and external audit requests
- Completes ad-hoc projects as assigned by management
- Reviews and provides feedback on documentation
- Supports various system implementations or upgrades as
This description identifies the responsibilities typically
associated with the performance of the job. The percentage of time
in any responsibility may vary between positions. Other relevant
essential functions may be required.
High school diploma or G.E.D. Minimum of an Associates degree in
Accounting, Finance or related field. Combinations of relevant
education and work experience may be considered in lieu of credit
Minimum of two (2) years experience in accounts receivable, general
ledgers and financial reporting systems or equivalent work which
provides the necessary skills, knowledge and abilities.
Bachelor's degree in Accounting or Finance
Additional Experience for Senior Accounting Operations Analyst:
Minimum one year of experience as an Accounting Operations
SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:
Accounting Operations Analyst
- Basic knowledge of financial reporting, including journal
entries, general ledger accounts and cost center structures.
- Ability to analyze details of policy billing and payment data
and, based on this analysis, make efficient and effective
independent decisions within authority.
- Ability to proofread documents for accuracy of spelling,
grammar, punctuation, and format.
- Basic Knowledge of insurance operations. Specifically, as they
pertain to state specific requirements.
- Excellent math skills with the ability to use a ten-key adding
- Ability to accurately interpret and analyze data.
- Ability to process transactions on multiple processing
- Ability to use diplomacy, discretion and appropriate judgment
when addressing internal and external customers.
- Ability to manage multiple priorities and meet established
- Ability to proofread documents for accuracy of
- Excellent organizational skills and ability to prioritize work
in order to meet strict deadlines.
- Excellent oral and written communication skills.
- Excellent analytical and problem-solving skills.
- Knowledge of computers and ability to enter alpha/numeric data
- Knowledge of word processing software.
- Basic knowledge of database software.
- Advanced knowledge of spreadsheet software.
- Ability to effectively exchange information clearly and
concisely, reports facts and other information and respond to
questions as appropriate.
- Knowledge of general ledger, policy and claim processing
Additional Skills/Knowledge/Abilities required for Senior
Accounting Operations Analyst
- Advanced knowledge and demonstrated proficiency in financial
reporting, including journal entries, general ledger accounts and
cost center structures.
- Advanced knowledge and demonstrated proficiency of insurance
operations. Specifically, as they pertain to state specific
- Advanced knowledge and demonstrated proficiency in general
ledger, policy and claim processing systems.
ADDITIONAL EDUCATION, EXPERIENCE, SKILLS, KNOWLEDGE AND/OR
- Bachelor's degree in Accounting, Finance or Business.
- Knowledge of departmental procedures, workflows and
- Insurance education coursework.
- Knowledge and experience of policy processing, claim and
financial reporting systems.
Work is performed in an office setting with no unusual hazards.
Math, 10-key data entry, alpha-numeric data entry, Intermediate
Word, Advanced Excel, Intermediate Windows, Proofreading, Reading
Keywords: Accident Funds, Lansing , Accounting Operations Analyst, Professions , Lansing, Michigan
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