Reconciliation Analyst - Premium Accounting
FA - Finance
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
The Financial Operations team is responsible for all incoming premium collections from time of deposit to bank accounts through applying to the policy in the policy admin systems, which includes the progressive movement of transactions through collection systems and related general ledger accounts. The department also manages the flow of policyholder disbursements from the policy admin systems to check/ACH issuance. We assist the various business areas within Operations with research and troubleshooting any issues related to premium collections and policyholder disbursements.
- Monitor and balance suspense clearing accounts daily.
- Prepare SAP manual adjustments, as needed.
- Prepare balance sheet account reconciliations weekly/monthly.
- Work with business teams in identifying discrepancies in a timely manner to avoid or mitigate gain/loss.
- Serve as a control function in reporting and escalating issues, working with operations areas to establish controls where risks have been identified.
- Subject matter expert for SAP disbursement issues including open invoices, voids, stop payments, and reversals.
- Process payment reversals back to admin systems.
- Act as a resource for staff as needed in handling or resolving complex inquiries.
- Analyze processes and identify areas for improvement/efficiency/automation.
- Support internal and regulatory audits, UAT, operation enhancement projects, and other ad hoc requests as required.
- Bachelor's degree with major in Accounting, Finance or related field OR four years related work experience.
- 3+ years accounting experience.
- Working knowledge of business and accounting principles and practices.
- Strategic and analytical problem solving skills.
- Advanced Excel knowledge and SAP experience preferred or other accounting system.
- Ability to work at a fast pace and/or handle shifting priorities.
- Good mathematical, oral and written communication skills.
- Ability to work independently and in a team environment.
- Ability to lead projects for departmental goals.
- Ability to understand processes in a larger context to look for improvements and efficiencies.
- Customer focused and willing to make extra effort to ensure Customer satisfaction.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.