Accounts Receivable Specialist
The Mission of The MEMIC Group is to make workers' comp work better with compassion, trusted partnerships, and relentless commitment to workforce safety. The secret to the success and longevity of great organizations is their shared vision and strong values. At MEMIC our values are to be conscientious, to be an expert, to be a partner, to be curious and to be transparent.
The Accounts Receivable Specialist is responsible for monitoring the status of all accounts, including those in collection and legal status. The role ensures that collection payments are entered accurately into the billing system monthly and coordinates with the Finance Department to request collection expenses.
Principal Duties and Responsibilities:
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1. **Reviews Accounts Receivable Reports to identify accounts overdue by 30-60 and 60-90 days, proactively contacting agents, policyholders, and underwriters regarding payments.
2. **Establishes and manages payment plans for policyholders unable to pay audit premiums in full, ensuring compliance with terms.
3. **Sends accounts to collection agencies after exhausting collection efforts and assists the Senior Collection Analyst with account write-offs.
4. **Researches and resolves billing inquiries from internal and external stakeholders and manages disputes involving audits with collection agencies, insureds, underwriting, and audit departments.
5. **Accurately inputs collection payments and expenses, including write-off forms, and maintains status reports on legal accounts, reporting findings to the Customer Accounting Manager.
6. Processes offsets or checks related to policies in collection and balances these at month-end.
7. Provides monthly Key Performance Indicators (KPIs) for collections and prepares related documents such as settlement proposals, court cost requests, affidavits, and updates collection logs. Also provides coverage for Premium Customer Account Analysts.
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Requirements:
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1. A college degree or equivalent is preferred. Two to four years of collection and/or accounting experience preferred.
2. Excellent verbal and written communication skills are essential.
3. Ability to work accurately in a fast-paced environment and handle interactions patiently with various stakeholders including departments, collection agencies, attorneys, customers and agents.
4. Flexibility, self-direction, and efficient time management skills are necessary to manage changing priorities.
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Working Conditions |
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1. Normal office environment with minimal exposure to excessive noise and temperature variations.
2. Willingness to travel among company sites as needed.
3. Will be required to stand and/or sit for extended periods.
4. Will be required to work with a Video Display Terminal.
5. May be required to do occasional reaching and bending.
6. May be required to occasionally exert physical effort (lifting/carrying) using appropriate equipment if needed.
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Our comprehensive benefits package includes all traditional offerings such as:
- Health Insurance options, Dental Insurance options and Vision Insurance
- Employee Life Insurance/AD&D and Dependent Life Insurance options
- Short-term & Long-term Disability
- Health Savings Account with potential employer match
- Flexible Medical and Dependent Care Account
- Accident Insurance
- Critical Illness Insurance
- Employee Assistance Program
- Legal/Identify Theft Insurance options
- Long Term Care Insurance
- Pet Insurance
- 401 (k) Retirement Plan with match up to 5%, plus profit sharing & discretionary contributions (subject to vesting)
- 4 weeks of Paid Time Off (PTO)
- 11 paid holidays
We also offer other benefits to help foster a healthy, balance lifestyle such as:
- Flextime schedules
- Paid Parental Leave
- Student loan paydown and refinancing assistance
- Educational assistance for job related courses, seminars, certifications or degrees
- One paid day every year to volunteer for your non-profit of choice
- On-site fitness center (Maine only) or fitness reimbursement
- Subsidized parking
- Sit-Stand desks & daily stretch breaks
MEMIC is committed to a policy of nondiscrimination and equal opportunity for all employees and qualified applicants without regard to race, color, religious creed, national origin, ancestry, age, disability, genetics, gender identity, veteran's status, sexual orientation, or any other characteristic protected by law. MEMIC is an equal opportunity employer encouraging diversity in the workplace.
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