Senior Specialist, Collections

Title: Senior Specialist, Collections

Location: United States

Job Description:

Location Designation: Hybrid - 3 days per week

Group Benefit Solutions delivers comprehensive insurance and absence management solutions for mid-sized and large companies. Our work fosters a healthier, happier, and more secure workforce, contributing to New York Life's legacy of being there when we're needed most. Here, youll design, implement, and support these solutions directly impacting employees' lives. At our core, we provide financial security and peace of mind to people through our absence, accident, disability, voluntary benefits, and life insurance solutions. Click here to learn more about Group Benefits solutions.

Role Overview:

This position is responsible for the collection of overdue premiums 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. Applicants are expected to provide excellent customer service to all internal and external business partners.

What Youll Do:

• 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 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 clients from aging further
• Research 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.

What Youll Bring:

• 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 under 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)and OneNote

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Pay Transparency

Salary range: $48,000-$55,000

Overtime eligible: Nonexempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Actual base salary within that range will be determined by several components including but not limited to the individuals experience, skills, qualifications, and job location. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

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 the Foundation. Were proud that due to our mutuality, we operate in the best interests of our policy owners. 

Job Requisition ID: 94358

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