Accounts Receivable Supervisor

POSITION DESCRIPTION The Accounts Receivable Supervisor will be responsible for the overall functioning of the insurance program’s accounts receivable cycle. This position main responsibilities includes supervising and coordinating the daily operations of the accounts receivable cycle, ensuring accurate and timely collection of receivables of the Company.

MAIN DUTIES AND RESPONSIBILITIES Accounts Receivable Process

• Supervise and coordinate the daily operations of the account receivable cycle.
• Ensure accurate and timely invoicing of MGA taxes and other state fees.
• Review and approve the reconciliation of MGA receivable and payable accounts, ensuring proper allocation of payments.
• Oversee the posting and recording of incoming operating cash transactions in the accounting system.
• Manage collection activities such as sending follow-ups to past-due accounts and referring to upper management.
• Ensure that cash collections are recorded and approved within department expectations.
• Ensure that cash collection entries and account receivable reconciliations are prepared and approved within the Department's expectations. Monitoring and Reporting
• Monitor the aging of accounts receivable balances and implement strategies to minimize overdue accounts.
• Analyze collection days, bad debt levels, and other key performance indicators (KPIs).
• Prepare and present reports on accounts receivable performance to management
• Identify trends, patterns, and areas for improvement in the accounts receivable process.
• Assist in the financial planning with the help of cash and accounts receivable forecasting.
• Assist financial reporting with the explanation of accounts receivable and cash flow variances. Process Improvement
• Continuously review and enhance the efficiency and effectiveness of the accounts receivable process. Compliance and Risk Management
• Ensure compliance with insurance accounting guidelines, regulations and internal policies, such as SSAP 4 (Non Admitted Assets) and ASC 310-10 (Receivables).
• Ensure accurate records and documentation in accordance with accounting standards and SOX compliance requirements. Collaboration and Communication:
• Collaborate with other departments, such as Credit, Underwriting PMs, to ensure accurate invoicing and payment reconciliation.
• Communicate effectively with stakeholders, including MGAs, Reinsurance Brokers, Reinsurers, and finance units.
• Resolve any interdepartmental issues that may impact the accounts recievable function.
• Build and maintain strong relationships with MGAs and establish effective communication channels to facilitate timely payments.
• Communicate and explain work procedures related to the accounts receviable process to program accountants and general accountants. Training and Development:
• Stay updated with insurance industry best practices and changes in regulations.
• Provide training to program and general accountants for tasks related to the accounts receivable process. Other responsibilities will include, but are not limited to:
• Assist with financial and state departments’ audits.
• May participate in special projects to include the development of new systems, products and entities.
• May assist the CAO and CFO in other tasks and special accounting and finance projects EDUCATION AND QUALIFICATIONS
• Bachelor's Degree in Finance or Accounting, CPA preferred
• 5+ years of relevant business experience in general accounting
• Property and casualty insurance experience is a plus.
• Proven knowledge of GAAP accounting principles, practices, standards, laws and regulations, statutory knowledge a plus.
• Advanced computer skills in MS Office, accounting software and databases.
• High attention to detail and accuracy.
• Strong organizational skills