Accounts Payables and Receivables Specialist
Accounts Payables and Receivables Specialist
Posted on :
14-01-2025
Employer Active
1 Vacancy
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Monthly Salary
50000 - 60000
Vacancy
1 Vacancy
Posted on :
14-01-2025
Job Description
This is a remote position.
Position Title: Accounts Payables and Receivables SpecialistWork Setup: Work From Home
Schedule: 6:00 AM to 3:00 PM
Salary: Php 50000 Php 60000
Signon Bonus: None
JOB DESCRIPTION FOR AN ADMINISTRATIVE ASSISTANT
The Accounts Payables and Receivables Specialist plays a crucial role in managing the financial transactions of an insurance broking business. The role ensures timely and accurate handling of client and insurer payments adherence to trust account regulations and efficient management of financial records in compliance with Australian insurance and financial industry standards.
Key Responsibilities:
1. Accounts Payables (AP)
Insurer and Supplier Payments:
Process payments to insurers for client premiums within agreed settlement terms.
Verify insurer and supplier invoices for accuracy ensuring all amounts align with policy documents and brokerage agreements.
Reconciliation:
Reconcile insurer statements trust accounts and operating accounts to ensure all payments are accounted for.
Investigate and resolve discrepancies between invoices and payments.
Expense Management:
Manage and process operational expenses including office supplies IT services and other business costs.
Compliance:
Ensure all AP transactions comply with trust account and regulatory requirements maintaining clear audit trails.
2. Accounts Receivables (AR)
Client Invoicing:
Generate invoices for insurance premiums brokerage fees and other charges accurately and on time.
Adjust invoices for endorsements cancellations or policy amendments as required.
Payment Collection:
Monitor client accounts to ensure timely receipt of payments.
Proactively follow up on overdue accounts maintaining professional and clear communication with clients.
Receipts Allocation:
Accurately allocate client payments into the system ensuring alignment with trust account requirements.
Reporting:
Prepare aged debtor reports and provide regular updates to management on outstanding payments. Highlight potential risks or delinquent accounts for escalation.
3. Trust Account Management:
Ensure all transactions comply with Australian financial services regulations (e.g. ASIC requirements) for trust accounts.
Regularly reconcile trust account balances ensuring accurate recording of client and insurer funds.
4. Financial Reporting and Compliance:
Prepare detailed AP/AR reports including cash flow projections aged payables/receivables and insurer remittance reports.
Support external audits by maintaining organised records and providing required documentation.
Stay updated on relevant regulations affecting financial transactions in the insurance industry.
5. Collaboration:
Work closely with insurance brokers to resolve client queries regarding invoicing payments and refunds.
Liaise with insurers to address any issues related to statements payments or commissions.
Partner with the management team to improve financial processes and reporting.
Required Skills and Experience
Industry Knowledge:
Familiarity with Australian insurance broking operations including premium funding trust account regulations and insurer settlements.
Technical Proficiency:
Experience using accounting and broking software such as Xero MYOB or WinBEAT.
Strong understanding of GST BAS preparation and financial reporting requirements in Australia.
Attention to Detail:
Meticulous in verifying financial transactions reconciling accounts and ensuring compliance.
Communication Skills:
Clear professional communication with clients insurers and internal stakeholders.
Organisation and Time Management:
Ability to manage multiple deadlines for payments invoicing and reporting.
Your love for Boomering will jumpstart with these meaningful engagement activities and perks. Using the concepts and tools of EOS (Entrepreneurial Operating System) Boomering provides a fun rewarding and stimulating environment where worklike balance meets a commitment to foster growth.
Genuinely caring Leadership Team
Competitive salary package
Companyprovided full setup for desktop/laptop with a backup internet
HMO on the first day of hire
15 Vacation Leaves and 5 Sick Leaves
Annual Performance Reviews
Unlimited Employee Referral Incentives
Employee Loan Facilities
Social Clubs and Interest Workshops
Company events where you get a chance to win amazing prizes and be rewarded for your outstanding performance.
Statutory Benefits: Maternity Paternity and Solo Parent Leaves Magna Carta for Women Retirement Benefits OT and Premium Pays
About Boomering:
Boomering is an ISOcertified leading BPO company in Clark Freeport Zone Pampanga.
Our mission to Enrich Client and Staff Lives through Simple and Smart Offshoring Solutions and our S.T.E.P. Core Values (Service Transparency Excellence and Partnership) are the framers of our continuing success.
Providing equal opportunities and collaborative culture of excellence Boomering is not just your average BPO. We are here to make a difference.
Futureproof your career and pursue your passion with Boomering! We want career thrillseekers who are committed to growth as much as we are.
Website: boomering.ph
Career Portal:
Facebook and LinkedIn: Boomering Inc.; Boomering Careers
Employment Type
Full Time
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