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Premium Allocation Specialist

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Manulife

Oct 8, 2024

  • Job
    Full-time
    Entry, Junior & Mid Level
  • Accounting & Tax
    Business, Operations & Strategy
  • Waterloo
  • Quick Apply

AI generated summary

  • You must have a Bachelor's in business/finance, strong communication and problem-solving skills, attention to detail, keyboarding of 35 WPM, and good organization and spreadsheet skills.
  • You will analyze and validate billing, prepare journal entries, reconcile statements, allocate premiums, and resolve client inquiries while meeting service commitments.

Requirements

  • Graduate of a 4-year bachelor’s degree course preferably business/finance or other related courses
  • Above average written and verbal communication skills
  • Ability to clearly understand and act on presented problem statements
  • Ability to compose a grammatically correct, clear, and concise email
  • Candidate must demonstrate good problem-solving skills
  • Speedy keyboarding skills of at least 35 words per minute and strong attention to details
  • Good organizational and time management skills with the ability to be flexible to changing environments and meet tight deadlines
  • Spreadsheet skill, an asset

Responsibilities

  • Review, analyze, interpret, and validate non-complex billing and/or commission work.
  • Capture applicable data, calculate, prepare, and complete accounting which includes Journal Entries.
  • Summarize, adjust, and balance client premium statements and payments using Excel to ensure accurate input on the administration.
  • Allocate client premium payments accurately and promptly on the applicable administration systems.
  • Support suspense management and all financial reporting and investigation processes which may include providing direction on coding of adjustments and/or completion of required coding on applicable admin system(s).
  • Validate premiums in preparation for client renewals.
  • Reconcile financial statements to the ASO Billing system.
  • Interact with the Client, Underwriters, RGOs and other CFS Staff to understand the client’s requirements or to resolve any billing/payment-related issues including outstanding payment, and billing issues.
  • Handling of non-complex inquiries coming from the client and/or different departments within Group Benefits.
  • Consistently achieving established service commitments including both individual productivity/quality goals and service standards as defined by the department's clients.
  • Other tasks/responsibilities as assigned/required.

FAQs

What is the role of a Premium Allocation Specialist?

The Premium Allocation Specialist is responsible for ensuring premium payments are processed accurately and timely, handling billing-related inquiries, and managing reinstatement applications for lapse policies.

What qualifications are required for the Premium Allocation Specialist position?

A 4-year bachelor’s degree in business, finance, or a related field is preferred, along with strong written and verbal communication skills.

What skills are essential for success in this role?

Essential skills include good problem-solving capabilities, speedy keyboarding skills (at least 35 words per minute), attention to detail, and proficiency in spreadsheet applications.

Is prior experience in financial services necessary?

While specific prior experience in financial services is not mentioned as a requirement, candidates should have a solid understanding of billing and financial accounting processes.

What are the working hours for this position?

The position offers a hybrid work arrangement, but specific working hours may vary based on organizational needs.

What kind of career development opportunities does Manulife offer?

Manulife provides a focus on career growth, professional development, and leadership opportunities to encourage employees to pursue their passions and learn new skills.

Does the company offer benefits for employees?

Yes, Manulife offers a competitive salary and benefits package, including health, dental, mental health, retirement savings plans, and various paid time off programs.

How does Manulife prioritize diversity and inclusion?

Manulife is committed to creating an inclusive workplace, fostering diversity, and ensuring fair recruitment, retention, and advancement practices for all employees.

What is the salary range for the Premium Allocation Specialist position?

The expected salary range is between $41,925 CAD and $69,875 CAD, depending on local market conditions and relevant job factors.

How can I request a reasonable accommodation during the application process?

You can contact recruitment@manulife.com to request a reasonable accommodation during the application process.

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Manulife

Finance
Industry
10,001+
Employees

Mission & Purpose

Manulife is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We have more than 40,000 employees, over 116,000 agents serving ~34 million customers worldwide, and over $1.3 trillion in assets under management and administration.