Financial Account Reconciliation Specialist

Overview

This role reconciles suspense and ledger file accounts between CBS and Finance. Responsibilities include preparing monthly reporting, leading complex reconciliations, researching billing discrepancies, supporting month-end close, and helping drive improvements to billing and reconciliation processes.

Responsibilities

Reconciliation & Financial Reporting

• Prepares monthly invoices and reporting for Carrier Fees.
• Leads complex account reconciliations and performs high-level analysis of financial transactions to ensure accuracy.
• Prepares and organizes detailed audit documentation and schedules.
• Oversees the execution of Internal Controls over Financial Reporting (ICFR), including control testing, documentation, and remediation efforts.
• Supports month-end close processes, ensuring timely journal voucher entries and reconciliation accuracy.
• Enters journal vouchers accurately into the accounting system, ensuring proper documentation, coding, and authorization.
• Conducts research and resolution of premium billing discrepancies, misapplied payments, and unreconciled items across systems.
• Manages ACH and suspense account reconciliations, ensuring prompt identification and resolution of variances and missing transactions.
• Partners with Finance and operational teams to address complex billing issues, clarify accounting treatment, and ensure financial alignment.
• Assists with development of recurring reports and dashboards to highlight reconciliation metrics, risk exposures, and process bottlenecks; delivers monthly reports to management.
• Drives continuous improvement initiatives to optimize billing, reconciliation, and reporting processes through automation, standardization, and system enhancements.
• Reconciles premiums transferred between systems and assists in the creation and improvement of reconciliation processes.

Workflow

• Researches, prepares, and completes internal department lockbox transfers.
• Researches forgiven premium requests to ensure accurate processing and communicating next steps.

Other Duties

• Performs other duties as needed/assigned.

Requirements

• High school diploma or GED.
• 2+ years’ experience in financial reconciliation, journal vouchers, and billing operations in a corporate environment.
• Proven experience with billing processes and accounts receivable management.
• Proficiency in account reconciliation and discrepancy resolution.
• Excellent business communication skills (verbal and written).
• Advanced Microsoft Excel skills, including formulas, pivot tables, and VLOOKUP.
• Strong attention to detail and accuracy.
• Excellent problem-solving, communication, and cross-functional collaboration skills.

Preferred Qualifications

• Bachelor’s degree in Finance or Accounting.
• 2+ years billing payroll deduction experience.

Compensation & Benefits

• Pay range: $24.99 - $36.11 per hour (based on the corporate location in Lake Forest, Illinois)
• Final salary offer will be determined based on location, qualifications, experience, skill set, and other relevant factors.
• This position may also be eligible for bonus.
• Comprehensive benefits package, including:
  • Health/dental/vision
  • Life insurance
  • FSA and HSA
  • 401(k) plan
  • Employee Assistant Program
  • Back-up Care for Children, Adults and Elders
  • Health and wellness initiatives (including a Wellness program to help reduce insurance premiums)

Location

Lake Forest, Illinois (based on the corporate location)