What are the responsibilities and job description for the Accounting Analyst- MSI position at Millennial Specialty Insurance LLC?
When, Millennial Specialty Insurance ("MSI") partnered with Baldwin Risk Partners in 2019, we were a single-product tech-enabled renters insurance platform with only 18 colleagues. Today, MSI has grown to over 900 colleagues with more than 10 insurance products thru a combination of rapid organic growth and strategic, tech-enabled partnerships. Our goal is to produce proprietary products to our customers that are fast, easy to use, and customizable with a deep focus on the customer experience. We believe that through our scalable, tech-enabled, proprietary platform and products, we will fundamentally change the insurance industry. Internally, we are dedicated to a culture that has innovation at its core and providing a world class colleague experience. Since 2021, we have tripled our colleague headcount to support the growth of the business. MSI is looking for top talent to join our journey as we continue to grow. Come join us at Millennial Specialty Insurance, the MGA of the Future!
Position Summary :
Under general supervision, responsible for accurately and timely applying cash for multiple bank accounts of moderate complexity with a high level of confidentiality. Responsibilities also involve identifying discrepancies, resolving issues with customer accounts, and collaborating with various departments to maintain accurate financial records.
Principal Responsibilities :
- Records cash receipts and cash disbursements directly debited and credited from multiple bank accounts.
- Processes approved payable disbursements for commissions, premiums, and claims.
- Investigates and assist in resolving payment discrepancies, including unapplied cash, incorrect amounts, or mismatched customer information.
- Performs regular reconciliations of cash receipts against customer invoices to ensure accuracy.
- Contacts insurance partners when appropriate to resolve reconciling / billing related issues and to obtain or relay account information.
- Processes and distributes all incoming accounting department mail.
- Identifies opportunities to automate manual tasks and streamline the cash application process.
- Ensures compliance with company policies and accounting standards related to cash handling.
- Raises issues and discrepancies with appropriate leadership.
- Other duties as assigned.
Knowledge, Skills, and Abilities :
Special Working Conditions :
Fast paced, multi-tasking environment.
Important Notice :
This position description is intended to describe the level of work required of the person performing in the role and is not a contract. The essential responsibilities are outlined; other duties may be assigned as needs arise or as required to support the organization. All requirements may be subject to reasonable accommodations to applicants and colleagues who need them for medical or religious reasons.
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