Premium Accounting Specialist
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Overview
Job Description
UTG
About Us
Universal Guaranty Life Insurance Company is a 100% owned subsidiary of UTG, Inc. Universal Guaranty is a solid and secure life insurance company established to help ease the financial burdens faced during life’s most stressful times. We continually remind ourselves that the funds we manage belong to our clients and recognize each one as an individual person, not just a policy number. Universal Guaranty is committed to financial responsibility and ensuring the proceeds of every policy are there when needed and due.
Position Summary
The Premium Accounting Specialist ensures life insurance premium payments are applied accurately and on time, including processing bank drafts, government allotments, and returned checks. This position prepares daily reports and monthly reconciliations, reviews suspense inventory, and maintains billing records for client policies. This role also serves as a point of contact for internal teams, answering questions about policy information, premiums, and financial values.
Key Responsibilities
- Review and apply premium payments.
- Process and respond to internal requests involving research on the application of client premium funds.
- Process client checks or drafts returned from the bank.
- Upload and process bank draft files and government allotment payments.
- Generate a variety of daily reports.
- Complete various monthly reconciliations.
- Review suspense inventory.
- Review and update client list bills monthly.
- Reset billing dates for applicable policies monthly.
- Perform other duties as assigned.
- High school diploma or equivalent.
- 1-2 years of experience in accounting, billing, payment processing, or a similar financial role.
- Strong attention to detail and accuracy with numerical data.
- Proficiency in Microsoft Excel and other Microsoft Office applications.
- Excellent written and verbal communication skills.
- Ability to manage multiple tasks and meet daily and monthly deadlines.
- Ability to handle confidential financial and customer information.
Equal Opportunity Employer - All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin.
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