Banking Operations Analyst

Overview

This role supports the integrity and efficiency of the IHSC program’s financial operations by managing cash flow, payment processing, and bank account activity. The position helps maintain timely, accurate provider payments through robust internal controls and compliance with applicable state and federal financial regulations. It also serves as the primary liaison with banks, vendors, and client fiscal offices.

Responsibilities

Daily Cash & Treasury Management

• Monitor and manage program bank accounts, balances, and transaction activity.
• Ensure adequate funding for all provider payments, capitation runs, and refunds.
• Initiate or approve ACH, EFT, wire transfers, and other disbursements, including automated transfers.
• Coordinate fund draws with the client’s treasury or accounting teams.

Payment Processing Oversight

• Oversee automated and manual payment cycles.
• Ensure payments to providers are accurate, timely, and compliant with federal/state rules.
• Resolve payment failures or returned transactions.
• Manage stop-payments, reissues, voids, and stale-dated checks.

Reconciliation & Financial Reporting

• Perform or oversee daily, weekly, and monthly bank account reconciliations.
• Reconcile payment files, EFT batches, and claim payment reports.
• Identify and resolve reconciliation discrepancies promptly.
• Produce financial reports required by the funding agency, internal audit, or external auditors.

Compliance, Controls & Audit Support

• Maintain internal controls related to:
  • Segregation of duties
  • Authorization checkpoints
  • Fraud detection
  • System access for financial modules
• Prepare or support compliance with:
  • State and Federal financial guidelines as applicable
  • Audit requirements (internal, external, SOC, etc.)

Vendor, Bank, and Agency Coordination

• Serve as the primary contact with:
  • Banks (EFT/ACH issues, file format changes, account setup)
  • Client fiscal offices (funding approvals, reporting)
  • Payment processors/clearinghouses
• Coordinate testing and implementation of banking file formats (e.g., NACHA, BAI2, CTX).
• Read, understand, and adhere to all corporate policies, including policies related to HIPAA and its Privacy and Security Rules.

Note: The list of responsibilities is not intended to be all-inclusive and may expand to include other education- and experience-related duties that management may deem necessary.

Requirements

Required Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, or related field (contractually required)
• 5+ years of experience in treasury operations, cash management, or payment processing
• Strong background in bank reconciliations, ACH/EFT processing, and financial reporting
• Experience working with banks, payment processors, and clearinghouses
• Familiarity with state and federal financial compliance requirements
• Proficiency in banking file formats (e.g., NACHA, BAI2, CTX)
• Advanced Excel skills and experience with financial systems or ERP platforms
• Knowledge of internal controls and audit processes

Preferred Qualifications

• Strong analytical and problem-solving skills
• Excellent attention to detail and accuracy
• Certified Treasury Professional (CTP) or CPA designation
• Experience in healthcare or government-funded programs
• Knowledge of SOC audit requirements and financial compliance frameworks

Experience in Lieu of Degree

For non-clinical roles, or when not required by the contract specifically, the organization will accept:

• A minimum of six (6) years of directly relevant professional experience in lieu of a Bachelor’s degree
• If the candidate has an Associate’s degree, a minimum of three (3) years of directly relevant professional experience in lieu of the Bachelor’s degree

Compensation & Benefits

Pay Range

• USD $89,440.00 - USD $111,600.00 /Yr.

Pay placement within the range is based on considerations such as years of applicable experience and skill level.

Benefits

Benefits may include:

• Comprehensive health plans
• Paid time off
• Retirement savings
• Corporate wellness
• Educational assistance
• Corporate discounts
• Additional benefits as part of the rewards package

Equal Opportunity

Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, disability, status as a protected veteran, or any other status protected by applicable Federal, State, or Local law.