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