Premium Accounting Coordinator

Position Summary

The Premium Accounting Coordinator is responsible for generating accurate premium invoices, processing payments via multiple methods, and ensuring adherence to underwriting guidelines. The role supports the management and analysis of premium-related financial transactions, reconciles premium payments, and ensures accurate processing of coverage and billing. They support audits by reviewing necessary documentation and apply accounting principles to ensure accuracy and validity of audit results.

What will your job entail?

Job Responsibilities: • Assists in the management and analysis of premium-related financial transactions and compiles relevant coverage and financial documents. • Generates premium invoices for policyholders based on policy terms and coverage and ensures accuracy in premium calculations and adherence to underwriting guidelines. • Receives premium payments from policyholders, generates reports on premium collections, outstanding balances, aging receivables and follows up on overdue accounts. • Maintains accurate and up-to-date records of policyholder information, premiums, and payments in the company's database or management system. • Supports the team to review records and client data in systems and handles inquiries from policyholders regarding premium invoices and billing discrepancies. • Reconciles premium payments received from policyholders with the policy records in the company's database to ensure accuracy and identifies any discrepancies. • Identifies and investigates discrepancies or irregularities in premium accounting records and take appropriate corrective actions. • Carries out administrative tasks such as data entry, policy issuance, and modifies policy information while ensuring alignment with industry standards and regulations. • Identifies opportunities to improve efficiency and effectiveness in premium accounting processes, such as automation, system enhancements, or workflow optimizations. • Assists with internal and external audits by providing documentation, reconciliations, and explanations related to premium accounting activities. 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 6 months of experience in premium accounting or accounting in the Insurance Industry is preferred.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates 

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target hourly rate range for this position is $24.00 - $30.00 per hour.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/. 

 

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [email protected] 

 

The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.