Banking Operations Analyst

Overview

This role supports the IHSC program’s financial operations by managing cash flow, payment processing, and bank account activity. The position helps ensure timely, accurate provider payments, safeguarding funds through robust internal controls, and compliance with state and federal financial regulations. It also serves as a 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 for:
  • 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, including NACHA, BAI2, and CTX.
• Read, understand, and adhere to corporate policies, including policies related to HIPAA and its Privacy and Security Rules.

Qualifications

Required Qualifications

• Bachelor’s degree contractually required (may be in any field; Finance, Accounting, Business Administration, or a related field is preferred)
• 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:
  • Minimum of six (6) years of directly relevant professional experience in lieu of a Bachelor’s degree
  • Minimum of three (3) years of directly relevant professional experience in lieu of an Associate’s degree

Compensation & Benefits

Pay Range

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

Benefits

• Comprehensive health plans
• Paid time off
• Retirement savings
• Corporate wellness
• Educational assistance
• Corporate discounts
• Additional benefits

Location

Not specified in the provided description.