Sr. Collections Specialist

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Date: Sep 25, 2021

Location: Bethlehem, PA, US

Company: New York Life Insurance Co

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

GBS2021

 

 

This position is responsible for the collection of overdue premium for an assigned book of business that is comprised of clients’ accounts that are maintained on various system platforms for New York Life Group Benefit Solutions. Core responsibilities include that individual collection efforts are met and maintained, researching status of payment receipt, analyzing payment history to ensure proper allocation and ensure the accuracy of  >90 day receivables. This position will ensure that all departmental collection metrics are met and maintained, in addition to facilitating the efforts of other teams responsible for executing the daily account transactions.  This position is also responsible for working directly with the clients as well as Account Management on the resolution of any issues that may arise during the normal course of business.  Applicant is expected to provide excellent customer service to all internal and external business partners. 

Responsibilities:

  • Manages the assigned accounts to the current department collection metrics and timeliness standards.
  • Meets or exceeds all timeliness, productivity and quality standards established for the position.
  • Monitors and coordinates the efforts of the Cash Application and Reconciliation teams to ensure timely posting and reconciliation of all payments as it relates to their book of business.
  • Works directly with clients in order to facilitate resolution of any outstanding premium
  • Appropriately escalates to managers for review and support of their collection plans
  • Begin collection efforts for clients in the >60 day outstanding bucket to prevent client from aging further
  • Researches information as needed from various resources in resolution of issues or anomalies
  • Identifies potential problem areas needing further exploration and communicates such matters to their management as well as to Account Management and the client/customer as necessary
  • Utilizes effective communication, courtesy and professionalism in all interactions, both internally and externally
  • Maintains data within internal applications and or tracking tools
  • Participates in the implementation of process improvement initiatives
  • Supports training initiatives or quality initiatives, as assigned.

Qualifications:

  • College Degree in Business or Accounting and/or equivalent work experience
  • Basic understanding of Group Insurance products and functional processes and supporting systems
  • Strong Verbal/Written Communication skills
  • Analytical and problem solving ability
  • Strong organizational skills, attention to detail, and results oriented
  • Ability to work within strict time constraints
  • Ability to adapt within a fast-paced environment and to changing scope
  • Multi-task oriented
  • Ability to work independently with multiple systems
  • Excellent customer service skills
  • Basic accounting skills required
  • Proficient in Microsoft Office Suite(Excel, Word, Outlook, Access)

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by our Foundation. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 83921

 

 

 


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