Receivables Analyst

Summary

Liberty Mutual Insurance is seeking an intermediate-level Receivables Analyst to manage billing and collection accounting for multiple plans and programs. The role involves preparing invoices, reconciling accounts, resolving billing disputes, collecting outstanding balances, supporting customers and internal departments, and identifying cash flow and process improvement opportunities.

Responsibilities

• Sets up billing plans in the system using the customer's plan and rate structure, payment mechanisms, premium information, and eligibility information
• Prepares billing invoices and supporting documentation for assigned accounts based on the requirements and billing cycles, ensuring billing information is accurate, complete, and delivered on time
• Communicates with Sales and Underwriting for timely billing instructions as evidenced by Premium Management report results
• Initiates the collection processes for each account, such as the electronic draw from the customer bank account or monthly draw from collateral account (pre-funding cash collateral payment plan)
• Performs various accounting functions, including invoicing, analyzing customer payments and managing the book and receivable account in an automated customer accounting system
• Resolves billing and collection questions and disputes by analyzing financial information, working with internal departments to resolve premium booking discrepancies, negotiating extension of credit, etc
• Partner with market stakeholders to ensure the availability and integrity of all financial information to customers
• Creates exhibits to support and summarize relevant account information
• Initiates phone calls to customers on or before the due date to ensure the customer received and agreed with the invoice amounts, determines whether to initiate the dispute resolution process and collection process for overdue accounts
• Manage dunning activity including negotiating, issuance of non-pay cancellations, and referring accounts to in-house attorney units
• Recommend drawing on letters of credit to satisfy customer balance
• Reconciles balances to reflect activity (e.g., earned premium, loss expenses, vendor charges or rating adjustments), including loss sensitive plans, bank statements and retrospective rating adjustments
• Suggest changes and identify opportunities for improvement of customer service, cash flow and business process improvement
• Deliver prompt and professional service to both internal and external customers

Skills

• Strong critical thinking, analytical, negotiation, written communication, and interpersonal skills
• Solid financial acumen and ability to interpret and analyze business data
• Proficiency in Microsoft Office Suite and mainframe systems
• Basic understanding of the insurance industry, GAAP accounting, state regulatory environments, rating plans, and billing, collection, audit, and booking processes
• Bachelor's degree in Accounting, Finance, Economics, Business Management, or a related discipline
• Minimum of one year of relevant professional experience

Qualifications

Must Haves

• Strong critical thinking, analytical, negotiation, written communication, and interpersonal skills
• Solid financial acumen and ability to interpret and analyze business data
• Proficiency in Microsoft Office Suite and mainframe systems
• Basic understanding of the insurance industry, GAAP accounting, state regulatory environments, rating plans, and billing, collection, audit, and booking processes
• Bachelor's degree in Accounting, Finance, Economics, Business Management, or a related discipline
• Minimum of one year of relevant professional experience

Benefits

• Comprehensive benefits that support your life and well-being
• Workplace flexibility
• Professional development opportunities
• Opportunities provided through Employee Resource Groups
• A corresponding compensation plan may include commission and/or bonus earnings