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Senior Associate, Premium Management

Req. #:  14136
Department: Premium Management
Location: Montreal, QC CA
Job Status: Permanent Full-time
Grade:  04
Category: Group Insurance - Health & Wellness
Description:

As part of the National unit of Premium Management team, the Senior Associate, Premium Management effectively proceeds with the money-in deposits functions and with the collection activities for GI regular accounts and for all types of invoices, in accordance with the national accounts payable and arrears policies established.

By providing quality and timely services related to premiums and financial activities required in the management of GI regular accounts, the Business outcome of this Team has a direct impact on the retention and profitability targets. These activities, which include various functions associated with the management of GI premium accounts and commission functions, contribute to the financial results and profitability indicators of Group Insurance.  

  • Prepares daily bank deposit of payments received from regular clients and makes manual entries in the administration system, in accordance with the established quality standards. Depending on the type of invoice, performs the necessary entries to clear the invoice and allocate the money appropriately to regularize the account receivable.
  • Conducts daily controls to ensure accuracy of manual entries, which have a direct impact on GL accounts.
  • Reviews daily reports from the bank to process any payment made via EFT transfer and proceeds with the manual entries to record the payment and to transfer the money from the general bank account to the GI account, in order to allocate the money to the appropriate GI client and to regulate the GL account receivable.
  • Takes required action to collect outstanding premiums for regular accounts according to the timeframes specified in the premium arrears policy. Analyzes and approves cases that deviate from the arrears policy with respect to established standard criteria.
  • Proceeds with the interruption or reinstatement of claims payment services when dictated by the Arrears follow up policy.
  • Documents cases where actions were not successful in trying to collect outstanding premiums after a second notice, in order to transfer these files to the Expert, Premium Management & Litigious cases.
  • Proceeds with termination of accounts or group policies in accordance with the established timeline and quality standards and submit final invoice to ensure that collection of outstanding balances or refund of overpaid amounts are processed in a timely manner.
  • Responses in a timely matter to any service issue related to premium management activities.
  • When necessary, prepares reconciliation of monthly invoices to confirm the overall amount due. 
  • Promotes team spirit, recognition and a positive attitude focused on customer service and Total Customer Satisfaction (TCS).

REQUIREMENTS

  • Bachelor's degree in Business Administration or a related field, or collegiate diploma (DCS) in Administration.
  • Two to three years' experience in group insurance or equivalent experience.
  • Professional title (HIAA, LOMA or CEBS) is a definite asset.
  • Knowledge of the Compass administration system and Finances module in PeopleSoft.
  • Knowledge of Group insurance products.
  • Knowledge of Business and Controls related to money-in functions in order to mitigate financial risk.
  • Knowledge of particularities of Financial Arrangements for ASO, HSA and Cost-Plus Agreements.
  • Excellent verbal and written communication skills, with the ability to communicate professionally, in both English and French.

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The personal information gathered on this website is considered strictly confidential and will be used exclusively for recruitment purposes by the Human Resources department at The Standard Life Assurance Company of Canada. Under no circumstances will this information be used for other purposes or forwarded to a third party without the candidate’s authorization.





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