What are the responsibilities and job description for the Accounts Payable Specialist position at Atrium Staffing?
Our client works in the insurance industry and is looking for a an Accounts Payable Specialist to join their team in their Boca Raton FL office.
Salary/Hourly Rate:
$50k Annually
Position Overview:
The Accounts Payable Specialist is responsible for interpreting data received from employers, participants, and other financial institutions and to apply payment to participant accounts in Sponsor Connect and Omni DC. The ideal candidate will accurately determine when and the type of approval required from Underwriting, or what flags to set to meet regulatory processing deadlines for completing the processing. Additionally, they will complete a multitude of financial transactions which includes verifying adjustments are appropriately affected through review of financial reports and suspense system accounting.
Responsibilities of the Accounts Payable Specialist:
- Analyze requests and documentation received from the regional field office(s) for reallocation of premium, obtain required approval, and ensure the transaction validity.
- Ensure Roth plans are transferred or rolled over to the correct plan, analyze and determine if the basis of the contribution is a periodic conversion or a recharacterization.
- Verify the client’s rollover or transfer eligibility based on the service level.
- Respond to requests from the client and/or regional field office(s) and billing services for participant corrections for misapplied premium.
- Enter information into Salesforce if the necessary data to apply the premium, rollover or transfer is missing and communicate outstanding premium with the field offices so a resolution can be obtained from the client to ensure timely application.
- Responsible for the adjudication of rejected allocated premium, determine correct account status, accounting codes for plan acceptance and coordinate with other departments for finalization or refund.
- Test system enhancements for new products and services.
- Update testing spreadsheets, report problems as appropriate, and work with management to ensure timelines are met while achieving the expected results.
- Maintain relationships with internal departments such as Benefits, Finance, Administration, ODTS, Field Offices, and Underwriting.
- Complete other projects as assigned to support the goals of the department and submit a daily working plan.
Qualifications of the Accounts Payable Specialist:
- Internship experience in cash processing or accounts payable or 1 – 2 years of work experience.
- Knowledge of accounting and accounts payable.
Education Requirements:
- Bachelor’s degree in Accounting or Finance.
Benefits:
- Medical
- Dental
- Vacation