Accounts payable specialist

Location: Downtown Toronto

Workplace: 3 days on-site

Salary: $55,000-65,000

Role Overview

The Accounts Payable Specialist is responsible for managing financial transactions between the brokerage and insurance carriers. This includes ensuring the accurate and timely processing of carrier statements, commission payables, and premium remittances, while maintaining compliance with internal controls and carrier agreements. The role requires strong analytical ability, exceptional attention to detail, and a solid background in accounting or financial operations within the insurance industry. This position also ensures all records reconcile accurately with carrier statements and provides backup support for vendor and tax payments.

Key Responsibilities

• Review and reconcile monthly carrier statements to confirm the accuracy of premiums, commissions, and adjustments.
• Prepare and issue carrier payments in accordance with contractual terms and internal policies.
• Validate policy, premium, and commission data between agency management systems and carrier statements.
• Investigate and resolve billing discrepancies, overpayments, and missing transactions in collaboration with carriers and internal teams.
• Maintain accurate documentation of carrier payments, balances, and reconciliations; assist with financial reporting for management.
• Act as a key liaison between accounting, operations, and carrier representatives to ensure efficient payment and reconciliation processes.
• Adhere to internal controls, audit requirements, and regulatory standards related to carrier funds.
• Identify and recommend process improvements to enhance efficiency and automation within carrier payables workflows.
• Verify remittance details for first-time payments to ensure accuracy and security.
• Provide support for other payment-related functions within the accounting department as needed.
• Perform additional analyses or tasks as assigned.

Qualifications

• College diploma or bachelor’s degree in Accounting, Finance, or a related field (bachelor’s degree preferred).
• Minimum of 1 year of experience in accounts payable, insurance accounting, or financial reconciliation.
• Experience in an insurance brokerage or MGA environment strongly preferred.
• Strong understanding of accounting principles related to invoicing, payments, and reconciliations.
• Proficiency with Applied EPIC or other broker management systems highly preferred.
• Advanced Excel skills (Pivot Tables, VLOOKUP, SUMIF, etc.) required.
• Excellent organizational, analytical, and time-management skills.
• Strong communication and interpersonal abilities.

Next Steps:

• We here at Clarity Recruitment would like to thank you for your application
• Only those chosen for a phone interview will be contacted via email and text to set up a phone interview

Clarity Recruitment and our client are firmly committed to fostering diversity within our community. Our clients welcome those who would contribute to the further diversification of their staff, including, but not limited to, women, visible minorities, Aboriginal people, persons with disabilities, and persons of any sexual orientation or gender identity. Please note that all qualified candidates are encouraged to apply. Please notify us if you require accommodation in the application process.

Clarity Recruitment helps start-ups and scale-ups build top-performing finance & accounting teams with a structured recruitment process and better results. Visit findingclarity.ca to learn more

JOB ID # 3481142