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Accounts Payable/Treasury Analyst

Employer
Allied World Insurance
Location
Farmington, Connecticut, United States
Closing date
Mar 7, 2024

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Job Role
Accounts Payable
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Job Objectives:

Reporting to the Senior Treasury Analyst, the Treasury Analyst will be part of a team of five responsible for efficiently managing the payment of claims and return premiums, as well as collections of deductibles and other treasury functions. The main objective of this role is to ensure timely and accurate processing of payments, maintain proper records and approvals, and contribute to the regional cash management strategy.

Duties and Responsibilities:

To fulfill these objectives, the Treasury Analyst will be responsible for the following tasks:

* Tracking and Payment Processing: Keep track of all manual check and electronic payment requests and ensure timely payments are made. This includes reconciling daily claims reports from the claims system to the payments that need to be processed for that day.
* Record Keeping and Approvals: Maintain accurate records of payment requests and ensure proper approvals are obtained and documented. Accurately code expenses to the general ledger system for proper financial tracking.
* Wire Payments: Enter wire payments into the online banking system for approval, in accordance with established procedures.
* Cash Management: Contribute to the regional cash management strategy by effectively managing outstanding check volumes, reviewing and taking necessary actions on exceptions within the banking platform, and ensuring compliance with internal controls and Sarbanes-Oxley requirements.
* Support Internal Claims Staff: Provide reliable and consistent support to the internal claims staff, addressing their queries and assisting with payment-related issues.
* Liquidity Management: Oversee liquidity levels across banks within the United States to ensure sufficient funding for the organization's operations.
* Intercompany Transfers: Participate in the daily/monthly/quarterly intercompany transferring and associated ledger entries.
* Process Improvement: Continuously improve existing processes related to payment processing, record-keeping, and cash management to increase efficiency and accuracy.
* Backup Support: Serve as a backup for the collection and cash application of deductible receivable balances as needed.
* Cash Forecasting: Support the cash forecasting process to ensure accurate financial planning and management.
* Special Projects: Assist with special projects as needed, which may include process improvements, system implementations, or other initiatives related to treasury operations.

Requirements:

To be successful in this role, the ideal candidate should possess the following qualifications and skills:

* Education: Bachelor's degree in finance or accounting.
* Experience: Two plus years of direct collections experience is preferred.
* Technical Skills: Strong MS Excel and analytical skills, including the ability to use functions such as VLOOKUPs, Pivot Tables, and formulas to analyze high volume transactional data. General ledger experience is also required.
* Ability to Work Independently: The candidate should have the ability to work independently in a fast-paced, high-pressure environment, managing multiple priorities and meeting deadlines.
* Communication Skills: Strong written and oral communication skills are essential, as the Treasury Analyst will be interacting with internal stakeholders and external vendors.
* Industry Experience: Experience in the insurance industry is preferred, as it will provide a better understanding of the specific requirements and processes involved in payment processing and treasury operations.

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