Job Summary
The
Banking & Reconciliation Specialist is responsible for supporting and executing key Health & Welfare (H&W) banking, reconciliation, and billing functions, with a primary focus on consolidated billing, vendor bill audit quality assurance, and daily client banking operations. This role owns the end-to-end execution of consolidated billing activities in partnership with our broker partner, including client onboarding, monthly invoicing, fund movement, and reconciliation. The position also supports core banking and reconciliation activities across reimbursement, COBRA, and premium billing clients, ensuring accurate fund flow, timely payments, strong internal controls, and adherence to SLAs. The ideal candidate is detail-oriented, process-driven, and comfortable owning a service line while collaborating with internal teams, external partners, carriers, and brokers.
Primary Duties And Responsibilities
Banking & Reconciliation (Genera)
- Perform and manage bank account reconciliations for all applicable H&W clients, including reimbursement, COBRA, Direct Billing, Premium Billing and Consolidated Billing services.
- Support daily client funding operations, including balance monitoring, funding coordination, and execution of online banking transactions; serve as banking backup as needed.
- Support new client banking setup and ongoing bank maintenance with TRI-AD banking partners.
- Partner with the Banking & Reconciliation Manager to ensure effective controls, accurate reconciliation, audit readiness, and continuous process improvement.
- Maintain a strong understanding of operational workflows impacting accounting activity and provide recommendations to improve reconciliation, reporting, and control effectiveness.
- Support internal and external audits, including annual SOC audits, by performing and documenting required banking and reconciliation controls.
Consolidated Billing (HTC) – Service Line Ownership
- Own the consolidated billing service line end-to-end, including monthly execution, controls, reconciliation, and documentation.
- Manage day-to-day operational partnership with the broker partner, including new client implementation, onboarding support, and resolution of billing or invoice issues.
- Prepare, review, and distribute consolidated billing invoices to clients on a monthly basis.
- Coordinate receipt of carrier invoices, track missing items, and escalate discrepancies or delays through broker partner as needed.
- Execute client fund pulls, verify cleared funds, and remit payments to carriers in accordance with established timelines and SLAs.
- Reconcile and maintain operating accounts used for consolidated billing and track all billing, collections, carrier payments, and related fees to ensure accuracy and auditability.
- Ensure all consolidated billing activities consistently meet defined SLAs.
Vendor Bill Audit & Quality Assurance
- Perform monthly vendor bill audits by reconciling premium activity, disbursement reports, and bank balances.
- Identify, research, and document discrepancies, ensuring timely resolution and accurate payment processing.
- Conduct QA reviews to confirm withdrawals, carrier payments, and system records align with audit results.
- Partner with CSMs and internal teams to resolve vendor bill discrepancies and clarify client configuration.
- Assist with maintenance and enhancement of vendor bill audit documentation, processes, and training materials.
Communication & Collaboration
- Prepare and send required client and partner communications related to consolidated billing invoices, funding, and carrier confirmations and receipts.
- Coordinate closely with internal and external partners to support timely, accurate banking and billing execution.
- Provide clear status updates and reporting on billing, funding, reconciliation, and audit activity.
- Maintain clear documentation and trackers to support transparency and audit readiness.
Minimum Requirements
Education
- Bachelor's degree in Accounting, Finance, or related field preferred.
Experience
- Experience with corporate banking operations and bank account reconciliations.
- Experience supporting or owning billing processes, invoicing, and fund movement.
- Familiarity with auditing financial processes and performing reconciliation-based QA.
- Experience identifying and implementing process improvements.
License/Certification
- Accounting degree or accounting certification preferred but not required.
Knowledge / Skills / Abilities
- Strong reconciliation and financial control skills.
- High attention to detail with strong troubleshooting and analytical abilities.
- Ability to manage multiple deadlines and meet SLAs consistently.
- Comfort owning a process or service line and coordinating with external partners.
- Ability to clearly document processes and communicate across teams.
- Strong organizational, follow-through, and accountability skills.
