Premium Administration Operations Lead

About the role:

The Premium Administration Operations Lead oversees the financial administration of premium bookings and payments, provides cash management, billing and collections oversight. Managing a team, they oversee the month end closing process, system enhancements, and provide audit support. They play a key role in managing relationships with external stakeholders and business functions.

Responsibilities:

• Support business partners and stakeholders, serve as the liaison between the Business, Finance, Collections, Reinsurance, Treasury, Actuary, Claims and IT. Address ad hoc questions, queries and issues that arise as it pertains to premium bookings, outstanding payments and collections, month-end processing, system enhancements

• Oversee the administration of premium bookings including daily transactional coding, premium feed uploaded, reconciliations, and reinsurance bookings. Manage premium feed maintenance and troubleshoot booking errors

• Provide cash management and collections oversight. Review active accounts for delinquency reporting and non-payment cancellations, receivables and Stand-Alone Cash. Partner with Collections so that cash received is correctly applied

• Supervise and manage the Shared Services and onshore team. Provide ongoing oversight of service delivery, address team queries and escalations; provide guidance, training and support to team members

• Oversee the month- end closing process. Review premium pipeline projections, estimates and post accruals; work closely with Finance to enhance the accuracy of P&L reporting (Actuals vs Budgets), financial reporting and reconciliations

• Manage policy administration system enhancements as well as involvement in testing and release management. Working with the business and IT, oversee new products and programs set up, configurations and changes to the policy admin system templates

• Point contact and control owner for audit support - Internal Audit, PWC, SOX testing

• Deliver standard operating procedures and controls documentation connected to Premium Administration and Operations processes, and maintain SharePoint/ team workspaces

Job Requirements:

• 3+ years of experience in Premium Administration or similar role
• Accounting and Finance knowledge in the Insurance industry
• Pro-active with issue identification and resolution
• Must be detail-oriented and thorough with the ability to meet deadlines
• Knowledge on system data flows, mapping and configuration enhancements
• Excellent communication and staff management skills
• Proficiency with Microsoft Office suite, Intermediate to Advanced Excel Skills
• Bachelor’s degree preferred or equivalent experience.

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At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

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