Premium Accounting Manager

Title

Premium Accounting Manager

Reports To

VP of Operations

Summary

The Premium Accounting Manager is responsible for leading and overseeing all premium accounting functions, ensuring the accurate and timely collection, reconciliation, reporting, and administration of insurance premium transactions. This role provides leadership to the Premium Accounting team while maintaining strong partnerships with Accounting, Operations, Customer Service, Sales, Carrier Partners, and Executive Leadership.

The Premium Accounting Manager is accountable for safeguarding revenue integrity, ensuring compliance with internal controls and regulatory requirements, driving operational efficiencies, and developing a high-performing team. The successful candidate will combine strong accounting and analytical expertise with exceptional leadership, communication, and process improvement capabilities. The Premium Accounting Manager is responsible for the collection of premiums on a portfolio of 60,000+ inforce insurance policies each month, using our automated collections system.

Key Responsibilities

Leadership & Team Management

• Lead, coach, develop, and motivate Premium Accounting team members to achieve departmental objectives and performance standards.
• Establish clear expectations, monitor performance, and conduct regular coaching and performance reviews.
• Foster a culture of accountability, collaboration, continuous improvement, and customer service excellence.
• Support employee development through training, mentorship, and succession planning initiatives.
• Manage staffing requirements, workload distribution, and resource planning to ensure operational effectiveness.

Premium Accounting Operations

• Oversee daily, weekly, and monthly premium accounting activities, ensuring accuracy, completeness, and timeliness.
• Manage premium collection processes, payment processing, premium receivables, policy reconciliations, and revenue verification activities.
• Ensure accurate reconciliation of carrier premium statements, policy administration systems, and accounting records.
• Review and approve complex premium adjustments, payment arrangements, refunds, reversals, and exception transactions.
• Monitor aging receivables and implement strategies to minimize outstanding balances and collection risks.
• Ensure all premium accounting activities comply with company policies, carrier requirements, and regulatory obligations.
• Building CSV data files using D&A tools for internal analytics and external reporting.
• Maintaining database of premium collection results using SQL hosted on AWS.
• Monitoring performance of the automated collection system, identifying issues and implementing solutions.

Financial Controls & Reporting

• Develop, maintain, and strengthen internal controls surrounding premium accounting and revenue recognition processes.
• Prepare, review, and analyze premium accounting reports, reconciliation summaries, and operational metrics.
• Investigate and resolve discrepancies, variances, and reconciliation issues in a timely manner.
• Partner with Finance and Accounting teams during month-end, quarter-end, and year-end reporting cycles.
• Support internal and external audit requests by providing documentation, analysis, and process explanations.

Process Improvement & Strategic Initiatives

• Identify opportunities to improve operational efficiency, automation, accuracy, and scalability within premium accounting functions.
• Lead departmental projects and initiatives related to systems enhancements, workflow optimization, and process redesign.
• Establish and monitor key performance indicators (KPIs) and service level standards for the Premium Accounting team.
• Collaborate with cross-functional stakeholders to implement process improvements that enhance customer and advisor experiences.
• Participate in strategic initiatives that support organizational growth and operational excellence.

Stakeholder Management

• Serve as the primary escalation point for complex premium accounting issues.
• Build and maintain strong relationships with internal departments, carrier partners, and external stakeholders.
• Partner with Operations, Accounting, Customer Service, Sales, Compliance, and Technology teams to ensure alignment and effective execution of business objectives.
• Communicate effectively with senior leadership regarding operational performance, risks, and improvement opportunities.

Qualifications

Education & Experience

• Bachelor's Degree or Diploma in Accounting, Finance, Business Administration, or a related field.
• CPA designation or progress toward designation is considered an asset.
• Minimum 5 years of experience in premium accounting, accounting operations, insurance administration, or related financial operations.
• Minimum 2 years of leadership or people management experience.
• Experience within the life insurance or financial services industry is strongly preferred.
• Strong understanding of premium accounting processes, reconciliations, revenue verification, and financial controls.
• Advanced experience with NetSuite or similar ERP/accounting platforms.
• Advanced proficiency with Microsoft Excel and Microsoft Office applications.
• Advanced experience with SQL, Power Query, Alteryx or equivalent D&A software
• Experience working with hosted database solutions, such as AWS.
• Advanced experience with automated collection systems collecting monthly receivables from pre-authorized ACH or credit card customers.
• Experience with systems implementation, identification of bugs and glitches and proposed system logic solutions.

Knowledge, Skills & Abilities

• Strong leadership, coaching, and employee development skills.
• Exceptional analytical, problem-solving, and decision-making abilities.
• High attention to detail with a commitment to accuracy and quality.
• Strong organizational and project management skills with the ability to manage multiple priorities.
• Excellent verbal and written communication skills.
• Ability to identify process improvement opportunities and drive change effectively.
• Strong stakeholder management and relationship-building capabilities.
• Ability to exercise sound judgment, maintain confidentiality, and manage sensitive financial information.
• Commitment to data quality, data formatting, data consistency and producing data that is machine ingestible.

Key Success Measures

• Accuracy and timeliness of premium reconciliations and reporting.
• Premium collection and receivable management performance.
• Reduction in reconciliation discrepancies and processing exceptions.
• Achievement of departmental KPIs and service standards.
• Successful implementation of process improvements and automation initiatives.
• Employee engagement, development, and retention within the Premium Accounting team.
• Positive audit outcomes and compliance with internal controls and regulatory requirements.

About Specialty Life Insurance

Specialty Life Insurance is one of Canada's fastest-growing life insurance organizations, proudly operating in partnership with two of Canada's leading carriers - Empire Life and Humania Assurance. Together, we offer advisors a broad, competitive product shelf to serve the diverse needs of Canadian families.

For over 17 years, we've helped more than 250,000 Canadians access the coverage they need to protect their families - delivering over $10 billion in life insurance coverage along the way. We believe great advisors deserve great support. That means qualified leads, world-class training, real career development, and a culture that genuinely values the people doing the work. We hire for character as much as credentials - and we invest deeply in the people we bring on board. If you're ready to stop grinding and start thriving, we'd love to talk.

Apply today and start building the career you came here for.

Specialty Life Insurance is committed to barrier-free and accessible employment practices in compliance with the AODA. Accommodations are available at any stage of the recruitment process upon request

This job post was created with the assistance of AI. Only qualified candidates will be reached out to.