Accounts Receivable Representative

SFM Companies (SFM Mutual Insurance)
March 15, 2023
Bloomington, MN
Job Type


The Accounts Receivable Rep will work in a team environment providing high quality financial services, including premium processing and reconciliation, commission, collections, and related customer service to agents and policyholders. Working independently while managing assigned tasks and maintaining quality is key to this role. You are also an integrate part of the Finance team working with others to deliver the best customer service possible.

SFM will provide you the training to be successful as you process the premium receipts received from our policyholders. This is a great way to learn the insurance industry and begin your career at SFM using your accounting knowledge.

Benefits include:

  • Affordable Medical, Dental, Vision Insurance, HSA, FSA
  • Flexible hybrid work environment
  • Traditional and Roth 401(k) plans with company match
  • Company contributions to help pay off student loans
  • Monthly home internet allowance
  • Free life insurance, STD & LTD
  • Opportunities for annual gainshare bonus
  • Pet insurance
  • Generous PTO
  • 9 paid holidays
  • Paid parental leave
  • Annual company-wide volunteer day
  • Discounts on gym memberships, fitness apps and weight loss programs
  • Adoption financial assistance

SFM believes that our exceptional and motivated employees are our greatest strength, and we are committed to creating the best work environment.

This position is hybrid, meaning some office time is needed.. Persons with an accounting background are encouraged to apply.

What You Will Be Doing:

  • Reconciles premium receipts in the policy database to receipts in the bank account timely and accurately.
  • Resolves premium errors, omissions, and differences.
  • Prepares agency commission reconciliation, billing, and return checks.
  • Prepares policyholder direct premium bills, premium returns, dividend, and retention checks.
  • Adheres to collection procedures, creates demand letters and partners with insurance agents, policyholders and collection agencies to resolve payment issues.
  • Identifies and/or issues premium charge-off and write-offs, per procedure and contract requirements.
  • Where applicable, processes Assigned Risk Pool non-electronic insurance applications, enters data, verifies payment, collects missing information, and determines appropriate action to be taken.
  • Provides high quality customer service to policyholders and agents by professionally receiving and responding to inquiries, while maintaining appropriate interactions.
  • Manages non-compliance with audit, sets up payment plans for policyholders for outstanding audits.
  • Identifies and remediates unclaimed property.
  • Monitors and keeps current with all accounts receivable technology and tools.
  • Collaborates with Finance and Assigned Risk Plan team members to share accounts receivable system and strategies.

What We'll Love About You

  • Two-year degree in accounting or related field preferred.
  • Two years' of customer service experience working for an insurance carrier and/or agency environment, preferably workers' compensation and/or casualty insurance, is a plus.
  • Two years' experience working with account receivables or similar field.
  • Strong customer service and interpersonal skills.
  • Proficient in Microsoft Office Suite, with strong excel skills.
  • Ability to understand state applicable workers' compensation rules and regulations.
  • Strong math and analytical skills.

Physical Requirements

Work takes place in a hybrid semi paperless environment within an office setting, or home office setting, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. While performing the duties of this job, the employee is regularly required to talk or hear, and maintain concentration and focus. The employee frequently is required to stand; walk; use hands and fingers, handle or feel; and reach with hands and arms and work with close vision. This position requires the ability to occasionally lift office products and supplies, up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions. Travel as needed. Regular attendance is required.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

SFM is unique in that we are small enough that your voice is heard, but has all the benefits and perks of a larger employer. We value your opinion, help you reach your goals, and make it easy for you to maintain work-life balance. Find out why our employees rate us a top employer and choose to stay and grow with us. Find out why SFM employees have stuck around for 30+ years!

About SFM

Since 1983, our mission has been to be the workers' compensation partner of choice for agents, employers and their workers. In that time, we have expanded to over 25,000 customers in the Midwest and grown our offerings to include vocational rehabilitation, loss prevention, medical services and more. SFM values our employees and believe that their success is our success.

SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. All employment decisions are made without regard to race, color, religion, sex, national origin, age, sexual orientation, marital, familial, or veteran status, medical condition or disability, or any other legally protected classification.

SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify

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