The Senior Direct Bill Commission Specialist provides accounting support and direction for any new acquisitions. The individual in this position is the Subject Matter Expert of their respective Division and is also the main point of contact for new acquisitions. The individual in this position also oversees and assists in the day-to-day operation of their respective Division. The Senior Direct Bill Commission Specialist ensures all month end processes are completed and balanced.
- Maintains the Monthly Revenue Log, Carrier Website Login spreadsheet, and Direct Bill (DB) commission statement folders for both the Division and any new acquisitions.
- Responsible for ensuring all commission due statements are processed for both the Division and new acquisitions. Assigns DB Commission Specialists to research and ensure funds have not already been paid to carriers, and initiates payments to carriers when necessary. Ensures the return has been reviewed and completed.
- Tracks and clears any DB Retro posting. Assists with processing benefits, personal, and/or commercial lines direct bill commissions. Searches customer and policy numbers and enters premiums and commissions received from insurance carriers.
- Oversees the processes of the intercompany journal entries and commission re-classes. Manages the direct bill receivables report.
- Ensures that the DB general ledger accounts deposited are appropriately recorded in the general ledger, commission statements have been posted, and all outstanding items for month end are cleared. Completes all carry over month end items.
- Assists as needed with the communication of carriers to obtain commission statements and pulls monthly statements from company websites.
- Assists as needed with the communication of company personnel to resolve discrepancies and exceptions, and to verify policy and commission information.
- Ensures DB commission downloads merge timely and correctly and oversees the accuracy of all other division downloads; works with corporate business support as needed.
- Assists in any escalations of DB Posting issues related to outsourcing company and new acquisitions.
- Researches and resolves any DB posting issues or questions from Producers, Account Managers, Producer Compensation, Financial Analysts, and outsourcing company. Provides research and documentation of DB process during annual audits.
- Mentors and leads all Direct Bill Specialists and Direct Bill Commissions Clerks.
- Performs other duties or projects as assigned.
- Basic knowledge of accounting rules, regulations, policies, and procedures that is reflective of the financial service industry.
- Working knowledge of Microsoft applications especially Word.
- Advance Knowledge of Excel and its functions
- Advanced analytical and mathematical skills.
- Advanced interpersonal skills; strong oral and written communication.
EDUCATION AND QUALIFICATIONS
- BA in Accounting, Finance, Economics, Business or Statistics preferred
- Advanced course work in bookkeeping and accounting
- 2+ years finance and accounting experience preferred
- 1+ year experience as a Relation Direct Bill Commission Specialist
- Prior Direct Bill Commissions experience at another Insurance/Brokerage company would be considered