Premium Receipts Specialist – Accounts Receivable Operations

Job Description

Associate Accountant-Cash Operations | EMC Insurance Companies

The Tone:
This is a hybrid Associate Accountant role at EMC Insurance Companies, requiring three days on-site in Des Moines, Iowa. EMC is a 2,185-person organization focused on working together to make an impact, offering opportunities to grow, contribute, and gain valuable experience. The company fosters a collaborative environment, striving to be caring leaders, close partners, and responsive experts who consistently support each other to achieve their best work. This position is vital for ensuring the accurate and timely processing of cash receipts and returns, directly contributing to EMC’s financial operational efficiency and commitment to service excellence.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Hybrid, Des Moines, IA
• Pay: $46990–$71385 yearly
• Mission: To ensure accurate processing of premium payments, manage returns, and maintain financial records to support the company’s cash operations.
• Tech Stack: Guidewire Billing Center, Workday general ledger, Microsoft Excel, Microsoft Word

What You’ll Actually Do
• Payment Processing: Review lockbox reject items that do not meet payment acceptance rules, conduct thorough research using both billing and agency systems, and collaborate directly with the Field Billing team to secure missing data necessary for processing. This includes accepting or rejecting payments strictly following established timelines and procedures to ensure accurate application of funds.
• Return & Account Updates: Process all ACH and check returns efficiently within the appropriate system, meticulously uploading return documentation to relevant agent or policyholder accounts for complete record-keeping. Additionally, send notification of change documentation to the Field Billing team and agency team members for required account updates to maintain data integrity.
• Procedure & Reporting: Create and consistently maintain comprehensive procedure manuals specifically for Guidewire Billing Center functions, partnering with management to meticulously review and finalize all updates to ensure accuracy and compliance. This role also involves reviewing monthly legacy and Billing Center reports of outstanding agent balances and external collections transaction registers submitted by regions.
• Financial Reconciliation & Audit Support: Provide crucial supporting documentation for agency bill payment reconciliation and accurately route lockbox correspondence to the appropriate department. Furthermore, prepare monthly management summary reports based on reviewed regional data, contacting the Field Billing team to resolve discrepancies. This also includes providing documentation for internal and external audit inquiries and reviewing Model Audit Rule (MAR) narratives related to the premium receipts process quarterly.
• Daily Cash Operations: Ensure all check payments are accurately reviewed and applied to the correct billing systems on the same day, collaborating with Finance team members as needed to resolve issues. This includes completing daily deposit tickets and serving as backup for other accounting team members when required.

The Must-Haves
• Background: Possess an Associate degree in accounting or have equivalent relevant experience that demonstrates a foundational understanding of accounting principles and practices.
• Experience: A minimum of two years of hands-on experience in accounts receivable, cash operations, or a closely related financial processing role, ideally within an insurance or financial services environment.
• Skills: Demonstrated excellent computer proficiency, particularly with Microsoft Excel and Word; strong analytical problem-solving and accurate account reconciliation abilities; a solid understanding of banking terms; robust verbal and written communication skills; the capacity to manage multiple tasks and prioritize deadlines effectively; and strong organizational skills coupled with exceptional attention to detail.
• Bonus: Prior practical experience utilizing Guidewire Billing Center or Workday general ledger systems is preferred.