Cash Reconciliation F&A Operations

VOYA INDIA Overview

VOYA INDIA is a joint venture between U.S. financial services company Voya Financial and SLK, a software services company. We are a dynamic technology & business process transformation company that provides world-class technology & business process management services, with an emphasis on quality, speed & optimization driven through automation. VOYA INDIA leverages the expertise of both firms to deliver innovative solutions to Voya's Retirement, Employee Benefits and Investment Management businesses.

More information is available at : - www.voyaindia.com

Role Overview

The Reconciliation Specialist is responsible for gathering, posting, and reconciling payments that are received by Revenue Team, including daily and weekly and monthly reconciliation. The Reconciliation Senior Associate independently solves complex problems. The individual integrates in-depth recon area knowledge with a solid understanding of industry standards and practices.

Profile Description

• Good understanding of insurance accounting, good accounting background and reporting understanding, understanding of reconciliation, open items, resolution of open items.
• Monitors and manages incoming payments.
• Retrieves and posts remittances from applicable payor websites when the remittance is not available from clearinghouse.
• Reviews remittances for applicable adjustments, and transfers balance to secondary or patient responsibility when appropriate.
• Responds to questions related to payment application and works closely with onshore Team to resolve any account variances.
• Researches and corrects keying errors as needed.
• Documenting the root cause and discrepancies and generating the reports based on department protocols.
• Documenting the results of research and amends appropriate systems as required to reconcile payments.
• Identifying trends in improved internal processes, systems, etc. as needed.
• Conforming to the defined platform, client, payer, and / or internal standard operating procedures (sops) and / or other applicable guidelines and regulations in completing job duties.
• Ensuring all workflow items are completed within the set turn-around-time within quality expectations.
• Reconciling payments to ensure the accounting system reflects the correct transactions
• Performing daily financial transactions such as verifying, calculating and posting accounts receivable data

Desired Experience and Skillset

Skills Required

Word, Financial statement preparation, Outlook, Access, Excel, Technical Accounting