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CNA Insurance · 1 day ago

Billing & Collection Specialist

Chicago, IL

Full-time

Onsite

Mid, Senior Level

$54K/yr - $103K/yr

7+ years exp

CNA Insurance is a company dedicated to fostering a culture where employees feel valued and can reach their career potential. They are seeking a Billing & Collection Specialist who will provide technical expertise to legal collection staff, establish collection strategies for complex accounts, and ensure effective resolution of collection matters.

FinanceFinancial ServicesInformation ServicesInformation TechnologyInsuranceProperty ManagementReal EstateRisk Management

Responsibilities

Serves as technical expert to the legal collections staff providing guidance on collection strategies and evaluations

Evaluates most complex cases and establishes collection strategies

Assigns cases to collection agencies and/or attorneys as required

Responsible for trial preparation, witness preparation, mediation, negotiation and settlement of collection actions

Evaluates case exposures, cost benefit analysis, and determines best practices or strategy to resolve matter including negotiated settlement, write-off, revision, and premium re-audits

Initiates action to resolve matter in manner that is in the best interest of CNA including using assigned write-off authority and settlement authority

Maintains detailed file activity documentation through closure of collection efforts

Ensures accounts are reconciled between collection central and source ledger processing systems

Trains and mentors collection and accounting staff in the legal collections area

Qualification

Legal collections methodsAccounting principlesInsurance industry knowledgeAnalytical skillsNegotiating skillsMicrosoft Office SuiteCommunication skillsMentoring ability

Required

In-depth knowledge of legal collections methods, systems and related interfaces and claims systems and claims reports

Strong understanding of accounting principles and procedures and cash flow concepts, collateral arrangements, and finance agreements

Strong understanding of the insurance industry and property casualty products for large commercial clients

Excellent communication, negotiating and influencing skills needed to deal effectively with high profile individuals often regarding sensitive collection issues

Ability to mentor others and foster teamwork

Strong analytical and problem-solving skills

Knowledge of computer applications, including Microsoft Office Suite and other business related software

College degree or equivalent experience

Typically a minimum of seven years related experience in collections

Benefits

CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals.