Premium Accounting Assistant

Location: ,
Job Category:
Job ID: 117777
Employment Type:
Salary:
Posted: 12.23.2024

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Occupations:

Accounting-Finance : General-Other: Accounting-Finance

Job Description:

Job  Description:

Are you detail-oriented and ready to take on a rewarding challenge? Join our team as a Premium Accounting Assistant and play a key role in managing and ensuring the accuracy of premium accounts. If you enjoy working with numbers, thrive in a fast-paced environment, and are eager to contribute to a dynamic team, this is the perfect opportunity for you! Bring your skills to a company that values precision and offers growth opportunities.

JOB OBJECTIVE
The Premium Accounting Assistant is responsible for the timely and accurate application of premiums and reversals (Life, Health, Pensions), preparation of account reconciliations, data entry of journals and resolution of premium-related queries with super-standard customer care.


About Guardian Life of the Caribbean Limited
Guardian Life of the Caribbean Limited leads the charge in Life, Health, and Pension solutions throughout the Caribbean Region. Our unwavering mission is to cultivate financial freedom for our stakeholders through transformative interactions, fuelled by the relentless power of technology. With innovation at our core, we strive to redefine the landscape of financial services, empowering individuals, and businesses alike to pursue their dreams with confidence and security.


JOB RESPONSIBILITIES
1.    Premium Processing:

• Future Payment set-up
• Verification of receipt of funds
• Scanning of source data 
• Preparation of batch files for automation
• Allocation of unmatched transactions 
• Application of Premium Payments on a rotational basis for the following Premium Collection methods:
• Salary Deduction (Ministries & Private Groups)- Cheque remittances
• Direct Debit
• Bankers Order (TT &US- FCB, Scotia, RBL, RBC)
• ACH (TT - FCB, Scotia, RBL, RBC)
• Direct Credits (TT - FCB, Scotia, RBL, RBC)
• Online Banking Payments (TT - FCB, Scotia, RBL, RBC)
• Post-dated Cheques
• Individual and Group Health applications
• (Recurring US Credit Card- new)

2.    Post application processing:

• Preparation and data entry of various journals (approved by TL)
• Systematic filing (both electronic and hard-copy as required)

3.    Reconciliation of various premium-related accounts.

4.    Reversal of Premiums, updating of logs, reconciliations, journals, agent and client correspondence for:

• Direct Debit NSFs 
• Bounced Cheques

5.    Reconciliation of over-the-counter STOTs (with bank statement) and preparation of journals for data entry by GSSL.

6.    Preparation of various reconciliations, transfers, refunds, journals and reports related to other lines of business, viz.:

• GLOC Agency payments
• RBC Comfort Plan
• Personal Accident
• Public-servants terminated Health Plans

7.    Resolve premium payment queries along with the necessary journals, logs and correspondence for:

• Confirmation of excess funds on policies
• Misapplications
• Missing Payments 
• Policy status and premium history inquiries
• Liaising with agents/client to regularize future payments.

8.    Open, log and distribute incoming mails.

9.    To perform any other job related duties as assigned by the Team Leader


EDUCATION

• 5 CXC/CSEC Passes including Mathematics and English Language.
• 2 A’ Level/ CAPE passes.
• Pursuing Level 1 ACCA.
• LOMA 280, 290, ACS 100 and all related parts.

EXPERIENCE

• 1 - 2 years’ experience in an Accounting department 
• 1 year experience in the Insurance Industry.

ADDITIONAL REQUIREMENT

• As a regulated entity with obligations under the Know Your Employee guidelines, a Certificate of Character is required.

PERSON SPECIFICATION
The Premium Accounting Assistant must be very dynamic. He/ She must be able to work in a fast paced environment and should possess strong work ethics. The Premium Accounting Assistant must display a high level of Initiative and must be self- motivated. 

Job Requirements:

​EDUCATION

• 5 CXC/CSEC Passes including Mathematics and English Language.
• 2 A’ Level/ CAPE passes.
• Pursuing Level 1 ACCA.
• LOMA 280, 290, ACS 100 and all related parts.

EXPERIENCE

• 1 - 2 years’ experience in an Accounting department 
• 1 year experience in the Insurance Industry.

ADDITIONAL REQUIREMENT

• As a regulated entity with obligations under the Know Your Employee guidelines, a Certificate of Character is required.