• Collections Associate

    FM (Johnston, RI)


    Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

     

    Reporting to the Transactional Accounts Receivable (AR) & Collections Supervisor, the position will be responsible for performing all collection activities in compliance with defined policies and procedures to support optimal cash flow and ensure timely payment of premiums from customers, brokers, coinsurers or WRP companies. This will include working with account teams worldwide to pursue collection of all receivables. The position will be required to take initiative to improve collections, reporting, methodologies and reconciliations. This position may be required to prepare analysis in support of improving collection efficiency.

     

    + Monitoring and collection of all premiums due with focus on collections within specified due dates to minimize penalty to surplus.

    + Timely follow-up and communication with the account teams and/or customer (internal/external) for any delinquent payments.

    + Support the effort of operations for resolution of outstanding premium.

    + Review and reconcile bordereaux payments for brokers, insureds, and/or WRP companies communicating results to AR associates.

    + Initiate and maintain accurate and timely communication (conversations) within the ERP system.

    + Provide supporting documentation for queries on invoicing and collections questions, potentially coordinating between cross functional groups and international offices.

    + Conducting ad hoc requests, as needed.

    Required Education

    + Bachelor’s degree in finance/accounting preferred, or equivalent education and work experience

    Required Work Experience

    + 1+ year in collections

    Highly Preferred Work Experience

    + 2+ years in collections

    Required Skills

    + Excellent interpersonal and communication skills with both internal and external customers.

    + Excellent organizational skills and the ability to recognize and schedule priorities.

    + Ability to work independently within specific timeframes and deadlines.

    + Proficiency in Microsoft Outlook, Excel, and Word.

    + Possess critical thinking and problem-solving skills with attention to detail.

    + Knowledge of accounts receivable and experience in collections.

    + Work collaboratively across disciplines to share knowledge with others.

    + PeopleSoft experience is highly preferred.

     

    The hiring range for this position is $29.21 – $41.99 per hour. The final salary will be determined based on individual qualifications. Employees enjoy a comprehensive Total Rewards program, including incentives, health and well-being programs, retirement plans, career development, tuition reimbursement, flexible work options, and more!

     

    FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.