Palomar Holdings, Inc. (“Palomar”) is the ultimate parent and insurance holding company of its operating subsidiaries. Palomar is an innovative insurer and managing general agency that focuses on the provision of specialty property insurance for residential and commercial clients. Palomar’s underwriting and analytical acumen allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, wind and flood insurance.
Palomar is a growing insurance provider that is building an extraordinary business around an exceptional team of employees. As a result, we are seeking both experienced professionals and recent college graduates who are up to the challenge of helping us build a unique brand in the insurance business. If you are looking to thrive in a dynamic work environment where your contributions will be recognized and rewarded, we would like to talk to you about joining our collaborative, energetic, and hard-working team.
For more information about our company, visit us at www.palomarspecialty.com. No phone calls or agency solicitation please. Palomar is an Equal Opportunity Employer.
At Palomar, we are committed to safeguarding the health and well-being of our employees, customers, partners, suppliers, and job candidates. We are actively monitoring the situation related to COVID-19 and are continuing to hire qualified candidates to better serve our customers. To ensure your safety as a job candidate and compliance with our COVID-19 protocols and recommendations/guidelines from the CDC, State and Local Health Officials, we may be relying on virtual interviewing and other digital communications. Our recruiting team is committed to providing the support you need throughout the hiring and onboarding process. We appreciate your understanding and flexibility during this time.
We are currently seeking to fill the following position:
Job Title: Premium Reconciliation Specialist
Primary Location: La Jolla, CA
Schedule: Full Time
Job Level/Band: Support- S2 or S3
Overtime Status: Non-Exempt
Department/Category: Accounting Operations
Job ID Number: Not Applicable
The Premium Reconciliation Specialist is responsible for multi-part billings/invoices, accounts receivable and accounts payable functions as a result of the monthly premium reconciliation process between the organization, client and insurance carrier. The primary focus of the position is the timely and accurate reconciliation of complex accounts and the generation of monthly financial reports. This position performs detailed analysis of reconciliation variances and takes appropriate action to resolve them.
Responsibilities and Essential Duties include but are not limited to:
• Performs accurate, timely reconciliations of premium between the organization and the insurance carriers
• Researches and analyzes financial variances as a result of premium reconciliation process and report appropriate corrective action
• Standardizes and documents most efficient reconciliation processes
• Maintains accurate and organized paper and electronic files with supporting documents
• Ensures data integrity by maintaining appropriate controls for audit verification
• Monitors, ages in the monthly premium reconciliation process for financial reporting
• Keeps updated with the latest methodologies, procedures, and client-specific information
• Coordinates premium reconciliation on a monthly basis to meet contractual or other specified deadlines
• Interfaces with internal staff to resolve system issues affecting premium reconciliation process and timetable
• Other duties as assigned or requested
Education Requirements/Professional Experience and Qualifications:
• Bachelor’s Degree or equivalent preferred
• Attention to detail, producing accurate and high-quality work
• Ability to multi-task, meet deadlines and be able to thrive in a fast-paced, high demand work environment
• Strong written, verbal, and presentation communication skills
• Must be able to manipulate and create Excel spreadsheets; including standardizing reports, utilizing filtering and formulas to generate desired results (Intermediate to Advanced level Microsoft Excel 2007+ skills)
• Experience analyzing premium records and remittance payments received
• Ability to provide analysis support for premium adjustments to financial statements as needed
• Ability to comply with operating policies, procedures and rules is essential
• Must be able to use discretion and handle sensitive/confidential information
• Must be able to maintain regular and predictable attendance; the ability to work overtime as required
• Must maintain positive and cooperative communications and collaboration with all levels of employees, clients, and customers
Palomar will consider reasonable accommodations to ensure a qualified applicant with a disability can be considered for the position. Palomar will also consider necessary modifications to the physical work environment, or to the way a job is usually performed, so an individual with a disability can perform the essential functions of the position. Additional accommodations will be considered that enable an employee with a disability to enjoy equal benefits and privileges of employment like those that are enjoyed by other employees without disabilities.
Compensation and Benefits:
Palomar offers a competitive compensation and benefits package that includes but is not limited to: Medical, Dental, Vision, Company-paid Life and AD&D Insurance, Company-Paid Long Term Disability benefits, Annual and Long-Term Financial Incentives, 401(k) Retirement Plan (with Company-paid Contributions), Paid Time Off, Paid Holidays, Professional Development Assistance, Paid Parking and more.