What are the responsibilities and job description for the Lead Remittance Processing Analyst position at ConnectiCare?
Summary of Position
- Responsible for reconciling the day-to-day operations of the Treasury Remittance Processing functions.
- Partner with Remittance Lead Analyst and Manager in ensuring team resolves all pending receipts in a timely and accurate manner by posting in applicable accounts receivable system and/or general ledger, and meeting or exceeding established directives.
- Perform research for problematic issues, working with internal and external team to determine root cause and provide recommendations for process improvements.
- Assist in supervising, developing, leading staff. Act as backup when manager is unavailable or out of office.
Principal Accountabilities
- Perform daily premium remittance reconciliation for HIP, EHPI & CCI. For each entity, maintain daily folders consisting of system-generated and team-generated reports as support for reconciliation balancing report. Each balancing report to be supported by payment channel tabs displaying reconciliation work performed, applicable items marked as pending suspense and follow up with team for resolution.
- Maintain control log of premium posting and banking activity, plus supporting documents for each entity. Compile monthly posting and suspense activity reports providing payment detail and aging of suspense items. Send reports for each entity to Accounting team within established timeframes. Handle inquiries from Accounting team and Treasury management.
- Ensure Cognos/Facets reports are in good order and populate data as expected. Troubleshoot using all available tools and resources to improve reporting function. Communicate deficiencies and suggested improvements with fellow lead analyst, manager and Facets reporting team as needed.
- In coordination with Lead Processing Analyst, manage daily workflows and supporting worksheets/folders; monitor and track all incoming lockbox, electronic and manual premium from members, groups and other sources; ensure staff applies suspense payments identified in daily reconciliation of payments.
- Perform due diligence in daily work, especially for ad hoc requests.
- Assist fellow lead analyst in coordinating the monthly closing process with remittance team.
- Monitor workflow, identify inefficiencies and create/recommend solution(s).
- Participate in team meetings, engaging staff to help them succeed in their roles.
- Establish safeguards and effective protocols to secure financial information
- Build/develop/maintain/enhance relationships with internal departments (Billing & Enrollment, Customer Service, Accounting, etc) external vendors (CTS and Banking partners etc), collaborating to resolve problematic issues. Create service requests as needed.
- Maintain proficiency in internal and vendor portal platforms, including reporting capabilities for use in daily and reconciliation work, trend analysis, and root cause analysis.
- Assist in the establishment and maintenance of departmental policies and procedures manual.
- Ensure compliance with Internal Audit requirements.
- As SME, assist in team projects, UAT testing, and approvals as needed.
- Analyze transactions/volumes of all remittance types; prepare statistical reporting for distribution to management and affected stakeholders as needed.
- Perform other related functions/tasks as directed, assigned, or required.
Qualifications:
- Bachelor’s degree, preferably in Accounting, Finance, or related field of study
Relevant Work Experience, Knowledge, Skills, and Abilities
- 3 – 5 years of relevant, professional work experience (R)
- Experience within a Remittance Processing or Cash Application environment (R)
- Understanding of best practices as they apply to Remittance Processing/Cash Application (R)
- Strong leadership skills with strong coaching and team building skills (P)
- Experience interacting with external vendors (R)
- Strong communication skills (verbal, written, presentation, interpersonal) with all types/levels of audiences (R)
- Excellent analytical skills and the ability to identify and resolve problems in a timely manner (R)
- Proven track record of completing assignments/projects within specified schedules (R)
- Organizing/prioritizing/time management skills; ability to successfully manage simultaneous tasks/projects (R)
- Proficient in MS Office (Word, Excel, PowerPoint, Outlook, Teams, SharePoint, etc.) (R)
Additional Information
- Job Type: Standard
- Schedule: Full-time
- Employee Status: Regular
- Requisition ID: 1000001296
- Hiring Range: $52,000-$92,000
Salary : $52,000 - $92,000
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