Premium Reconciliation Specialist
What’s the opportunity?
Working under general supervision, 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 health 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.
What will I be doing?
- Performs accurate, timely reconciliations of substantial billings/invoices between the organization, client and the health insurance carrier
- Set-up of monthly monetary wiring instructions and verified receiving account status
- Researches and analyzes financial variances as a result of premium reconciliation process and takes 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 time table
- Other duties as assigned or requested
What skills do I need?
- Minimum 5 years’ experience with financial reconciliations in an analytical role. Preferably, prior experience in financial analysis and in a health or commercial insurance environment
- 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
- The salary range is $45k to $47k annually, DOQ
- Please call for more information on this position
Royal Staffing Services will consider for employment qualified Applicants with Criminal Histories in a manner consistent with the requirements of the Los Angeles Fair Chance Initiative for Hiring.