Premium Reconciliation Consultant

JOB SUMMARY

In partnership with our outside vendor BPO this position will be responsible for premium reconciliation discrepancies and monitoring policies financial status.

The Premium Reconciliation Consultant is expected to perform and prioritize billing and/or premium functions executing tasks and responsibilities while building and maintaining positive relationships with internal and external clients. Direct ownership of a block of business as it relates to premium management. This position will support the largest and most complex book of clients.

This position requires strong analytical skills relationship management communication judgment organizational skills and problem resolution to meet the diverse needs of our clients.

RESPONSIBILITIES

• Effectively manage a block of multiple policies and National Accounts from a premium accounting and billing standpoint including select full Broker blocks of business.
• Work with BPO to ensure accuracy of premium payments and application.
• Conduct premium payment audits when required to help clients identify incorrect or missing payments.
• Communicate policy financial status to internal and external partners.
• Responsible for past due management billing discrepancies and error templates for assigned block. This includes lapsing payment collections and member detachment.
• Communicate and collaborate with internal departments including client services underwriting and others to provide timely and effective resolution to any premium or billing challenges changes updates or errors; effectively communicate findings to the appropriate parties; take initiative and follow-through as the liaison with other internal departments as necessary.
• Partner with the client finance representative on any communication necessary to resolve billing vs. remittance challenges and past due invoices.
• Responsible for suspense management unapplied premiums and reconciliation for assigned block.
• Develop and maintain positive relationships and rapport with internal and external clients.
• Attend Implementation calls with our groups to serve as the SME for billing-related matters sharing your extensive knowledge of the billing processes systems and best practices.
• Provide on-going client support for premium and billing to ensure members no longer employed by the group are appropriately transitioned to direct billing.
• Provide any premium reports to necessary areas to continue servicing the account. Handle salesforce items to resolution for inforce customers.
• Partner with necessary areas on account reviews and audits to highlight broker or client concerns with the account overall and assist with development of action plans to address issues risks and opportunities.
• Support teammates as needed and drive results for goals and key performance indicators.
• Ensure process maps and documentation are kept up to date. Create any needed documentation when gaps are identified or new processes are created.
• Conduct any necessary testing for new processes systems or equipment to ensure low impact to team and clients.
• Perform other duties as assigned.

COMPETENCIES

• Relationship-Builder Is helpful respectful approachable team and service-oriented building strong working relationships and a positive work environment; maintains an exceptional client service mindset
• Problem Solving Takes an organized and logical approach to thinking through problems and complex issues. Simplifies complexity by breaking down issues into manageable parts. Looks beyond the obvious to get at root causes. Develops insight into problems issues and situations.
• Continuous Learning Demonstrates a desire and capacity to expand expertise develop new skills and grow professionally. Seeks and takes ownership of opportunities to learn acquire new knowledge and deepen technical expertise. Takes advantage of formal and informal developmental opportunities. Takes on challenging work assignments that lead to professional growth.
• Initiative Willingly does more than is required or expected in the job. Meets objectives on time with minimal supervision. Eager and willing to go the extra mile in terms of time and effort. Is self-motivated and seizes opportunities to make a difference.
• Adaptability Ability to re-direct personal efforts in response to changing circumstances. Is receptive to new ideas and new ways of doing things. Effectively prioritizes according to competing demands and shifting objectives. Can navigate through uncertainty and knows when to change course.
• Results Orientation Effectively executes on plans drives for results and takes accountability for outcomes. Perseveres and does not give up easily in challenging situations. Recognizes and capitalizes on opportunities. Takes full accountability for achieving (or failing to achieve) desired results.
• Values Orientation Upholds and models Chubb values and always does the right thing for the company colleagues and customers. Is direct truthful and trusted by others. Acts as a team player. Acts ethically and maintains a high level of professional integrity. Fosters high collaboration within own team and across the company; constantly acts and thinks One Chubb.
• Detail Oriented Has exceptional attention to detail and focus on accurate and timely delivery.
• Creativity Possess the ability to analyze a situation and develop an alternative method for handling a situation when traditional methods arent successful.

SKILLS

• Excellent verbal and written communication interpersonal and customer service skills
• Excellent analytical accounting and problem-solving skills
• Ability to structure and manage work across multiple functions & locations
• Ability to build consultative trust-based relationships
• Ability to identify issues remediation tactics and escalation paths
• Personal initiative and accountability
• Sound judgment and ability to problem solve
• Sound organizational and time management skills
• Ability to multi-task in an extremely fast paced environment
• Ability to prioritize and manage multiple priorities

EDUCATION AND EXPERIENCE

• 4-year college degree or equivalency strongly preferred; equivalent work experience may substitute
• Experience with group insurance premium/billing. 4 years of group benefits insurance industry experience preferred.
• At least 3 years direct customer-facing experience with brokers and employers
• Proficient in MS Office including Outlook Word Excel & PowerPoint