Premium Reconciliation Specialist-Chicago, IL / Columbia, SC / Portland, ME / Chattanooga, TN

Premium Reconciliation Specialist

Location: Chicago, IL / Columbia, SC / Portland, ME / Chattanooga, TN

Duration: 6 Months (CTH)

Job schedule- 40 hours per week in office

Work hours-8:00 am - 5:00pm (CST or EST)

Interview-Virtual -2 rounds

Other locations the manager is allowing this hire to sit, in office 40 hours per week are as follows:

• Chicago, IL
• Columbia, SC
• Portland, ME
• Chattanooga, TN

Job Summary

In partnership with our internal business partner, BPO (Business Process Outsourcing) this position will be responsible for premium reconciliation, discrepancies, and monitoring policies' financial status for all distribution channels. The Premium Reconciliation Specialist is expected to perform and prioritize billing and/or premium functions, executing tasks and responsibilities while building and maintaining positive relationships with internal and external clients. Direct ownership of a block of business as it relates to premium management.

Job Responsibilities

• Effectively manage a block of multiple policies and accounts from a premium accounting and billing standpoint.
• Work with the BPO Team to ensure accuracy of premium payments and application.
• Conduct premium payment audits when required to help clients identify incorrect or missing payments.
• Communicate policy financial status to internal and external partners.
• Responsible for past due management, billing discrepancies, and error templates for assigned block. This includes lapsing, payment collections, and member detachment.
• Communicate and collaborate with internal departments including client services, underwriting, and others to provide timely and effective resolution to any premium or billing challenges, changes, updates, or errors; effectively communicate findings to the appropriate parties; take initiative and follow-through as the liaison with other internal departments as necessary.
• Partner with the client finance representative on any communication necessary to resolve billing vs. remittance challenges and past due invoices.
• Responsible for suspense management, unapplied premiums, and reconciliation for assigned block.
• Develop and maintain positive relationships and rapport with internal and external clients.
• Attend Implementation calls with new groups to serve as the SME for billing-related matters and present billing options.
• Provide on-going client support for premium and billing to ensure members no longer employed by the group are appropriately transitioned to direct billing.
• Provide any premium reports to necessary areas to continue servicing the account. Handle salesforce items to resolution for in force customers.
• Partner with necessary areas on account reviews and audits to highlight broker or client concerns with the account overall and assist with development of action plans to address issues, risks, and opportunities.
• Perform other duties as assigned.

Skills

Relationship and collaboration skills with internal and external clients and partners

Analytical skills -This position requires strong proficiency with Excel utilizing Pivot tables, Vlookup, and standard formulas

Communication -written and verbal communication with participation in internal, as well as external calls and/or Webex meetings

Judgment- the role is part of the CWB Premium and Billing team and collaborates as part of the team, as well as with cross-functional partners, and will work independently managing a block of business (as noted under responsibilities)

Organizational skills

Problem resolution to meet the diverse needs of our clients.

Education and Experience

4-year college degree or equivalency strongly preferred; equivalent work experience may substitute

Experience with group insurance premium/billing. 2 years of group benefits insurance industry experience preferred.

At least 2 years direct customer-facing experience with brokers and employers

Proficient in MS Office

Outlook- be responsible for managing their own calendar, and sending and replying to emails within their own inbox, as well as the billing inquiry

Word -Client has many templates that are utilized

PowerPoint- Many meetings utilize PP for training and presentation decks; needs to have the ability to review and navigate through the decks as necessary. There is also potential to create or contribute to the creation of PP decks.

Competencies

Problem Solving: Takes an organized and logical approach to thinking through problems and complex issues. Simplifies complexity by breaking down issues into manageable parts. Looks for the root causes and develops insight into problems, issues and situation.

Continuous Learning: Demonstrates a desire and capacity to expand expertise, develop new skills and grow professionally. Seeks and takes ownership of opportunities to learn, acquire new knowledge and deepen technical expertise. Takes advantage of formal and informal developmental opportunities. Takes on challenging work assignments that lead to professional growth

Initiative: Willingly does more than is required or expected in the job. Meets objectives on time with minimal supervision. Eager and willing to go the extra mile in terms of time and effort. Is self-motivated and seizes opportunities to make a difference.

Adaptability: Ability to re-direct personal efforts in response to changing circumstances. Is receptive to new ideas and new ways of doing things. Effectively prioritizes according to competing demands and shifting objectives.

Results Orientation: Effectively executes on plans, drives for results and takes accountability for outcomes. Perseveres and does not give up easily in challenging situations. Recognizes and capitalizes on opportunities. Takes full accountability for achieving (or failing to achieve) desired results

Values Orientation: Upholds and models Client values and always does the right thing for the company, colleagues and customers. Is direct truthful and trusted by others. Acts as a team player. Acts ethically and maintains a high level of professional integrity. Fosters high collaboration within own team and across the company; constantly acts and thinks "One Client"