Summary
Overview
Work History
Education
Skills
Affiliations
Languages
Accomplishments
Timeline
Generic

MinhTan Tran

Hammonton,NJ

Summary

Results-driven insurance professional with 20 years of experience in the P&C insurance industry, specializing in financial analysis, process optimization, and strategic decision-making. Adept at managing large-scale financial operations, driving continuous improvement initiatives, and collaborating cross-functionally to align business operations with strategic objectives. Strong analytical skills with proficiency in Excel, and financial reporting tools.

Overview

21
21
years of professional experience

Work History

Cash Receipt Manager

STARR COMPANIES
01.2020 - Current
  • Designed and delivered comprehensive training programs for staff on process improvements, compliance, and system usage, ensuring high levels of operational efficiency and accuracy
  • Manage cash identification for 16 bank accounts, including foreign currency payments, overseeing approximately 2,000 cash deposits and 6,000 transactions per month
  • Ensure timely distribution of daily Cash Reports to the Cash Application, Collection, and Business Units
  • Oversee and deliver Weekly Cash Receipt Reports to Executive Management in the USA and Canada, handling $1.5 billion quarterly while reducing processing time by 67%
  • Oversee preparation of Collection Weekly Age Receivable Reports for Executive Management and assist in producing various Weekly Collection Reports
  • Manage unidentified cash payments, with an average unidentified balance of $25M daily, peaking at over $50M
  • Collaborate with brokers, underwriters, and partner organizations to verify payments and address inquiries
  • Created and maintained performance metrics to track process performance and implemented continuous improvement feedback loops, reducing the average unidentified cash balance by 50%
  • Manage internal and external audits, ensuring regulatory compliance and financial risk controls by providing necessary documentation for cash receipts and receivables
  • Partner with executive leadership to create and deliver strategic risk mitigation frameworks for cash and premium reconciliation
  • Facilitate quarterly reinsurance settlements with London for US Desk programs and ensure the accuracy of contracts with Managing General Agents through quarterly reconciliation
  • Document and ensure compliance with all departmental procedures per company guidelines
  • Maximized performance by monitoring daily activities and mentoring team members.
  • Enhanced customer satisfaction by resolving disputes promptly, maintaining open lines of communication, and ensuring high-quality service delivery.
  • Cross-trained existing employees to maximize team agility and performance.
  • Achieved departmental goals by developing and executing strategic plans and performance metrics.
  • Reduced operational costs through comprehensive process improvement initiatives and resource management.
  • Negotiated favorable terms with suppliers, cutting operational costs while maintaining quality of service.
  • Organized professional development programs for staff, leading to improved performance and skill sets.
  • Coordinated with IT department to upgrade technology infrastructure, enhancing operational efficiency and data security.
  • Enhanced product quality by instituting rigorous quality control procedures, resulting in fewer customer complaints.
  • Maintained positive customer relations by addressing problems head-on and implementing successful corrective actions.

Premium Reconciliation Specialist

STARR COMPANIES
06.2010 - 01.2020
  • Facilitate quarterly reinsurance settlements with London for US Desk programs and ensure the accuracy of contracts with Managing General Agents through quarterly reconciliationAssist the Premium Collections Director on day-to-day accounting functions of this start-up unit
  • Work with cross-functional departments UW, IT for booking flow accuracy completeness controls
  • Spearheaded data analytics initiatives to streamline premium collections, reducing transaction discrepancies
  • Identified cash payments from 10 bank accounts including Well Fargo, Everest, and JP Morgan
  • Developed meaningful relationships with brokers and created procedures to obtain cash backup
  • Partnered with JP Morgan to create data input and extract procedures to improve cash identification process
  • Negotiated cost & reduce unnecessary functions to reduce cost & improve data output
  • Developed new staff, mentoring interns at all job functions within the collection department from cash identification, cash application to collections for all LOBs from start to finish
  • Identified, recommended, and worked directly with the Great Plains team to implement new processes and streamline the cash application process
  • Established necessary checks and balances across all systems
  • Reduced financial discrepancies by consistently monitoring and resolving account variances.
  • Developed custom reports for management review, highlighting significant findings from the reconciliation process.
  • Ensured timely completion of reconciliations by adhering to strict deadlines and prioritizing tasks effectively.
  • Assisted in periodic reviews of existing policies and procedures, suggesting updates as needed for optimal effectiveness.
  • Provided training for new team members on department procedures, fostering a supportive work environment and promoting skills development.
  • Managed high volumes of transaction data efficiently while maintaining attention-to-detail necessary for accurate reconciliations.
  • Collaborated with cross-functional teams to resolve complex account imbalances, ensuring accurate financial reporting.
  • Conducted root cause analysis for recurring discrepancies, implementing corrective actions to prevent future occurrences.
  • Exceeded performance metrics consistently, demonstrating dedication to excellence in the Reconciliation Specialist role.
  • Improved communication between departments through regular collaboration on reconciliation matters.
  • Supported audit preparation with thorough documentation of all reconciliations, reducing time spent during audits.
  • Strengthened internal controls by identifying areas for improvement and implementing robust procedures.
  • Contributed to cost-saving initiatives by identifying opportunities for process improvements in the reconciliation function.
  • Assisted in the implementation of a new reconciliation software system, leading to increased productivity and reduced errors.
  • Analyzed data trends to proactively identify potential issues before they escalated into larger problems affecting financial statements.
  • Increased efficiency by developing and maintaining comprehensive reconciliation databases and reports.
  • Reconciled account information and reported figures in general ledger by comparing to bank account statement each month.
  • Strengthened financial operations by conducting bank reconciliations and financial reporting.
  • Reconciled company bank, credit card and line of credit accounts, investigating, and resolving discrepancies to keep accounts audit-ready.

Sr. Financial Analyst, Management Reporting & Expense Analysis

CHUBB (ACE GROUP OF INSURANCE)
12.2007 - 05.2010
  • Prepare and provide monthly, quarterly, and yearly reporting and analysis for ACE’s operating expenses
  • Gathered expense data from Hyperion Essbase and PeopleSoft to tie into internally published P&L's
  • Identified variance and trend analysis for actual to a monthly plan to prior year
  • Investigated variances by submitting PeopleSoft queries, contacted source of expense, analyzed journals
  • Prepared and processed expense journals, and accruals in PeopleSoft as appropriate and provided monthly account reconciliation
  • Populated exhibits for use by finance and internal businesses and support units
  • Supported the quarterly forecasting process and annual planning process
  • Created and maintained the expense plan/forecast Excel models that accumulated direct expenses, allocations, and simulated actual results
  • Consolidated, analyzed and reported all expenses and allocation data needed for expense models
  • Facilitated accurate expense tracking through diligent maintenance of general ledger accounts and reconciliations.
  • Streamlined financial reporting processes, resulting in more efficient delivery of critical information to stakeholders.
  • Improved budget forecasting through meticulous monitoring of expenses and revenue streams.
  • Maximized company resources by performing ad-hoc analyses supporting cost reduction initiatives across departments.

Financial Analyst, ACE Casualty Risk

ACE GROUP OF INSURANCE
05.2005 - 12.2007
  • Performed weekly and monthly reconciliations for all casualty risk divisions to ensure premiums were registered timely and accurately to the respective registration systems agreed
  • Validated that premium/commissions are coded to the correct treaty for percentage and coverage/policy
  • Prepared monthly Facultative Premium Report
  • Provided data analysis to reinsurance brokers on treaty reporting packages and treaty renewal information
  • Performed follow-up on outstanding registration issues across business units
  • Provided the actual premium booking month-end results from black book drilldown to senior management
  • Served as liaison, performed ad hoc analyses, and supported in special operational projects across LOB
  • Responsible for validating Sarbanes Oxley controls and updating the database
  • Responsible for financial analysis on deductibles and new broker producer appointments
  • Assisted with the periodic updates to yearly plan that includes weekly forecast and quarterly reforecast
  • Utilized ACE internal published P&L to provide ACR Divisions’ P&L, Commission, Expenses, and T&E reports
  • Created and analyze monthly MIS reports including Divisional, Regional, and Broker Scorecards

Collection Analyst, ACE Reinsurance

ACE GROUP OF INSURANCE
03.2004 - 05.2005
  • Facilitated & expedited the collection of payments from brokers & reinsurers by addressing issues with all involved parties
  • Prepared monthly outstanding balance reports to brokers and reinsurers
  • Followed up with reinsurers to ensure their understanding of the claim and request prompt payment
  • Analyzed and researched files to respond to technical issues and objections to payment
  • Calculated, initiated, and maintained ACE ceded statistical and accounting registration records
  • Resolved receivable & payable discrepancies with reinsurers and brokers to produce cash payments
  • Maintained thorough documentation of all claim and market collection activity
  • Involved in multiple projects in times of organizational change that improved communication

Education

Master of Science - Enterprise Risk Management

Boston University
Boston, MA
06.2025

CPCU - Chartered Property Casualty Underwriter

The American Institute
720 Providence Road Suite 100, Malvern, PA 19355
07-2007

Bachelor of Science - Business Administration, Finance and International Business

Drexel University
Philadelphia, PA
01.2005

Skills

  • Process Design & Optimization
  • Cross-functional Collaboration
  • Continuous Improvement
  • Training & Documentation
  • Complex Problem-solving
  • Staff training and development
  • Staff management
  • Task delegation
  • Goal setting
  • Documentation and reporting
  • Relationship building
  • Operations management
  • Cross-functional teamwork
  • Performance management
  • Staff development
  • Financial management

Affiliations

  • The Marquis Who's Who

Languages

Vietnamese
Native or Bilingual

Accomplishments

  • Supervised team of [Number] staff members.
  • Achieved [Result] through effectively helping with [Task].
  • Used Microsoft Excel to develop inventory tracking spreadsheets.
  • Collaborated with team of [Number] in the development of [Project name].
  • Achieved [Result] by completing [Task] with accuracy and efficiency.
  • Achieved [Result] by introducing [Software] for [Type] tasks.
  • Documented and resolved [Issue] which led to [Results].
  • Resolved product issue through consumer testing.

Timeline

Cash Receipt Manager

STARR COMPANIES
01.2020 - Current

Premium Reconciliation Specialist

STARR COMPANIES
06.2010 - 01.2020

Sr. Financial Analyst, Management Reporting & Expense Analysis

CHUBB (ACE GROUP OF INSURANCE)
12.2007 - 05.2010

Financial Analyst, ACE Casualty Risk

ACE GROUP OF INSURANCE
05.2005 - 12.2007

Collection Analyst, ACE Reinsurance

ACE GROUP OF INSURANCE
03.2004 - 05.2005

Bachelor of Science - Business Administration, Finance and International Business

Drexel University

Master of Science - Enterprise Risk Management

Boston University

CPCU - Chartered Property Casualty Underwriter

The American Institute

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MinhTan Tran