Position Overview
The Reconciliation Analyst will serve as a key liaison between our carrier partners and internal Operations Team to ensure enrollment, billing, and payment data are accurately aligned across systems. This role is responsible for reviewing carrier eligibility reconciliations, managing daily cash postings, and ensuring accurate payment application through bank transactions and online payment vendors. Additionally, the Reconciliation Analyst will provide support to the Collections Administrator.
Key Responsibilities
Cash Posting & Reconciliation:
- Manage daily cash postings and reversals from bank lockbox deposits and manual payments.
- Verify posted payments in the enrollment system for accuracy.
- Investigate and resolve shortages, overpayments, and returned payments.
- Coordinate with clients for replacement funds on returned or insufficient payments.
- Post refunds once issued.
- Process phone check payments via the Check Writer system.
- Review Auto Debit report twice a month to ensure accurate ACH authorizations.
- Review the weekly balance report and add credit balances to the refund log and notify collection team members regarding open balances.
- Review and address short payments daily, sending appropriate communications to clients.
Carrier Reconciliations - Respond to carrier reports per established deadlines, including:
- Enrollment Billing Report (EBR)
- SOX Audit Report
- Top 20 Audit Report
- Individual Account Reconciliation Requests
- Review monthly reconciliations performed by Finance Team; coordinate with internal departments to correct eligibility discrepancies and provide responses to carrier partners.
- Submit ACA balance errors to management for review and processing.
- Maintain a reconciliation log (Excel or Monday.com ) to track eligibility issues and support team training and performance improvement.
- Coordinate client communication regarding billing changes in advance of invoice generation.
- Ensure thorough documentation of all actions, communications, and decisions (e.g., diary notes, saved emails, proper recordkeeping).
- Miscellaneous Responsibilities:
- Provide backup support for the Collection Coordinator during absences or high-volume periods.
- Assist with account reconciliations to support collections efforts.
- Perform other duties and special projects as assigned.
Competencies
- Strong analytical skills with a broad working knowledge of group benefits insurance administration
- Background with financial experience-audit and reconciliation processes
- Strong interpersonal and communication skills – listening, oral and written.
- Exceptional attention to detail and ability to manage multiple tasks concurrently, prioritize appropriately, and produce results
- Demonstrates initiative to learn more and take on more challenges.
- Strong documentation and time management skills.
- Enthusiastic, detail-oriented, and team player who is also focused on delivering results.
- Demonstrated solid customer service and interpersonal skills in a fast-paced environment.
- Able to work extended hours during periods of high demand – quarter/year-end.
Pursuant to Maryland regulation, the compensation range for this position is $50,000 - $55,000 annually and includes eligibility for performance-based bonuses.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Ability to respond to common inquiries or complaints from customers or members.
- Personal computer software and mathematical skills are necessary.
- Ability to effectively communication information and respond to questions from clients, customers, and members.
- Attention to details is essential.
- Demonstrated proficiency in Microsoft Excel, Word, Power Point and Outlook.
Education And Experience
Minimum 2 years of experience related to accounting.
