Receivables Analyst

In this intermediate-level financial job, you will perform billing and collection accounting covering several plans and programs, including account reconciliation, preparation and issuance of invoices and use of letters of credit. Receivables Analysts interact with internal departments, attorneys and customers to resolve account disputes and collect outstanding balances. You will describe billing services to external customers in a way that is easy for them to understand. You will also analyze account activity and provide exhibits that support account statements and reports requested by customers and internal departments, as well as analyzing and identifying cash flow 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.

• 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.

Pay Philosophy: The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive. We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions. This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups. Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work. Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit:

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.

Fair Chance Notices

• California
• Los Angeles Incorporated
• Los Angeles Unincorporated
• Philadelphia
• San Francisco

Originally posted on Himalayas