Liberty Mutual Insurance

Compensation

Full Description

Description 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 plan 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 ensures billing information is accurate, complete, and delivered on time. Follows with Sales and Underwriting for timely billing instructions as evidenced by preliminary 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, negotiate 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 call to customer 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. Qualifications Critical thinking, negotiation skills, financial acumen, writing, negotiation and interpersonal skills; working knowledge of Microsoft Office Suite and mainframe applications; basic understanding of insurance industry, GAAP accounting, state regulatory environments, rating plans as well as billing, collection, audit and booking processes; as normally acquired through a BS/BA degree with a major in Accounting, Finance, Economics or Business Management plus 12 months of experience About Us 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. As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally. At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow. We are dedicated to fostering an inclusive environment where employees from all backgrounds can build long and meaningful careers. By actively seeking employee feedback and amplifying the voices of our seven Employee Resource Groups (ERGs), which are open to all, we create an environment where every individual can make a meaningful impact so we continue to meet the evolving needs of our customers. 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: https://LMI.co/Benefits 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