Accounts Payable Specialist

Job Overview

The Accounts Payable Specialist-Insurance is responsible for managing the accounts payable process, ensuring accurate and timely processing of company, brokers and vendor invoices, and other disbursements.

Responsibilities include but are not limited to:

• Invoice Processing -- review, verify and process company, brokers, and vendor invoices. Ensure proper coding, approval and adherence to company policies and procedures.
• Verify and reconcile vendor statements and accounts.
• Reconcile accounts payable transactions, ensuring all discrepancies are identified and resolved promptly with internal and external clients.
• Maintain accurate company, brokers, and vendor records ensuring proper documentation for audits.
• Monitor accounts to ensure payments are up-to-date and avoid late fees or penalties.
• Prepare and process electronic transfers, ACH payments and check payments.
• Assist in month-end and year-end financial closing.
• Support internal audits and external regulatory audits as needed.
• Identify opportunities for process improvements and implement solutions to streamline the accounts' payable function.
• Ensure compliance with insurance industry standards, tax laws, and company policies.

Required Skills:

• Strong understanding of accounting principles and general ledger systems.
• Excellent organization and time management skills.
• Strong attention to detail.
• Ability to work independently and collaboratively in a team environment.
• Strong communication skills for interactions with vendors and internal teams.
• Knowledge of insurance-related financial processes is a plus.

Required Experience:

• High School diploma or GED.
• Minimum of 3 years of experience in accounts payables, preferably in the insurance industry.

Preferred Experience:

• Bachelor's degree in accounting, finance or a related field.
• Knowledge of accounting software Applied Epic, Concur and Microsoft Excel.