At a Glance
- Tasks: Review invoices, manage payments, and ensure compliance with insurance regulations.
- Company: Join a diverse and inclusive team at Ryan Specialty in London.
- Benefits: Competitive salary, career growth, and a supportive work environment.
- Other info: Opportunity for process improvement and automation in premium accounting.
- Why this job: Make a real impact in the insurance industry while enhancing your accounting skills.
- Qualifications: Bachelor’s degree in Finance or Accounting and 2 years of relevant experience.
The predicted salary is between 30000 - 40000 £ per year.
The Senior Premium Accounting Coordinator 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.
What will your job entail?
- 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 the insurance industry is preferred.
Licenses & Certifications
- Certified Public Accountant (CPA) a plus.
Accounts Payable Associate employer: Ryan Specialty
Ryan Specialty is an exceptional employer located in the heart of London, offering a dynamic work culture that prioritises diversity and inclusion. Employees benefit from comprehensive training and development opportunities, fostering professional growth while working in a collaborative environment that values each individual's contributions. With a commitment to excellence in premium accounting and customer service, Ryan Specialty provides a rewarding career path for those looking to make a meaningful impact in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Accounts Payable Associate
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and accounting sectors. You never know who might have a lead on an Accounts Payable Associate role or can refer you directly to hiring managers.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of premium accounting and insurance regulations. Be ready to discuss how you've handled invoicing and reconciliations in the past, as this will show you're the right fit for the job.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for openings that suit your skills and interests, and make sure to tailor your approach to each one!
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. Mention something specific from your conversation to remind them why you’re the perfect candidate for the Accounts Payable Associate position.
We think you need these skills to ace Accounts Payable Associate
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Accounts Payable Associate role. Highlight relevant experience in premium accounting and any specific skills that match the job description. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your experience makes you a great fit. We love seeing enthusiasm and a personal touch, so don’t hold back!
Showcase Your Attention to Detail:Since the role involves reviewing invoices and ensuring compliance, it's crucial to demonstrate your attention to detail. Include examples of how you've successfully managed similar tasks in the past. We appreciate candidates who can keep things precise and organised!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Ryan Specialty
✨Know Your Numbers
Brush up on your accounting knowledge, especially around premium calculations and reconciliations. Be ready to discuss how you ensure accuracy in financial records and compliance with regulations, as this will show your understanding of the role.
✨Customer Service is Key
Prepare examples of how you've handled policyholder inquiries or billing discrepancies in the past. Highlight your approach to maintaining high-quality customer service, as this is crucial for the position.
✨Showcase Your Process Improvement Skills
Think about times when you've identified opportunities for process enhancements in your previous roles. Be ready to share specific examples of how you’ve implemented changes that improved efficiency or accuracy in accounting practices.
✨Stay Updated on Regulations
Familiarise yourself with current insurance regulations and industry best practices. Being able to discuss recent changes and how they impact premium accounting will demonstrate your commitment to staying informed and compliant.
