Why Jencap? We are one of the largest wholesale insurance intermediaries in the United States with expertise in wholesale brokerage, binding authority, and program management. The common thread woven throughout our success story is our collaborative and driven team of people. Our teams are empowered and work together to find solutions. We have a passion culture – with teamwork, collaboration and a focus on growing individuals and giving them the tools & development opportunities to have a successful career.
HRMP, a Jencap company, is a third-party administrator for risk takers and is uniquely positioned to offer business solutions to carriers, reinsurers, and underwriters. We provide a variety of services and solutions within the insurance market such as stop-loss program administration, group life and medical conversions, auditing services, back office or run-out administration, quota share and excess medical reinsurance.
The Program Accountant role will work a hybrid schedule in our Danvers, MA office.
Responsibilities:
- Validates client self-bills, verifying rates paid match sold rates and making judgments as to whether variances in month-to-month reported enrollments are reasonable. When enrollments reported appear unreasonable, coordinates with underwriting to determine action steps.
- Reviews daily premium deposits listed in the lockbox accounts transaction reports and enters deposits into the check register.
- Executes daily premium deposits to the stop loss system or reviews daily premium deposits made by Accounting Assistants.
- Analyzes claim fund balances to assess whether balances are sufficient to cover claims due and coming due, coordinating with Claims Department.
- Calculates and initiates funds transfers and calls cash from carriers needed to pay claims.
- Executes claims disbursements from the stop loss system.
- Manages accounting relationship with assigned clients.
- Represents HRMP’s clients to their policyholders, positioning themselves as the “Go To” contact when accounting questions or issues arise.
- Builds relationships with peers at HRMP’s clients, their policyholders, and their policyholder’s representatives such as brokers and TPAs. As possible, extends network of contacts so that clients and policyholders see Incumbent as a key problem solver.
- Reconciles all monthly transactions by comparing entries in the stop loss systems made by the Accounting Assistant to entries in the check register, researching and resolving any discrepancies.
- Calculates and prepares monthly commission and expense disbursement to carrier, reinsurer(s) and administrator by collecting information, generating reports from stop loss systems, preparing worksheets, and other reports.
- Reconciles and reviews monthly reporting to carrier, reinsurer and/or administrator.
- Supports carrier audits and year-end audits.
Requirements:
- B.S. in Accounting is preferred or a combination of education and experience.
- 3 plus Years of Accounting Level experience required.
- Must be able to oversee and complete heavy volumes of work, meet strict month-end deadlines, attend to details and work independently.
- Solid knowledge of accounting applications required.
- Must be proficient with Microsoft Word and Excel (ability to formulate spreadsheets is required).
- Good verbal communication skills will be vital for frequent interaction with customers and for cash collections on delinquent accounts.
- Basic knowledge of the insurance industry, laws and regulations preferred.
Want the opportunity to build something new? Expand your knowledge and stretch your experience through new and emerging risks? Have your voice heard, your skills properly applied, and to add tangible value to an organization? You’re in the right place. Jencap is dynamic, bold, tenacious, and trusted in the industry.
Here, you are not just one of the many, you are one of us. We truly are better together.
Jencap is an Equal Opportunity Employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin or citizenship status, sexual orientation, gender identity or expression, pregnancy, marital or familial status, disability status, medical condition, genetic information, military or veteran status, political affiliation, or any other characteristic protected by law. We are committed to fostering a work community where every colleague feels welcomed, valued, respected and heard, as we believe that creating an environment where every employee feels included and empowered helps us to deliver the best outcome to our clients.
