Invoice Reconciliation Specialist

Beneration has helped transform the employee benefit industry with cutting edge financial technology solutions. We digest thousands of data points from insurance carriers, invoices, and benefit administration systems to give employers and brokers much-needed clarity and risk mitigation related to their monthly insurance spend. In a nutshell, we make sure that when companies are paying for employee benefits, they are paying the correct amount, to the correct carriers, for the correct people.

The collection, processing, and reconciliation of employee benefits administration data and carrier invoices is typically a complicated, expensive, and time-consuming process for employers, and our comprehensive suite of technologies and services ensures that businesses can manage their employee benefits programs with ease and precision.

Beneration is a fast-growing startup that has clients ranging from major national brands to fifty-person employers. Our goal is to be able to serve as many employers as possible and we are currently investing heavily in developing the next generation of our software platform.

We are looking for a detail-oriented, self-starter to join our team as an Invoice Reconciliation Specialist. In this role, you would be responsible for collecting health insurance invoices on behalf of the employer and meticulously comparing the premiums to the benefits administration data using our VerifiaBill software. An ideal candidate would be able to recognize that every person in our data is a human being who needs health insurance coverage and will not be satisfied until we’ve done our part to notify their employer if any corrective actions need to be taken. This role is well designed for the person who gets a thrill from crossing items of their list and has a passion for accuracy; we cannot understate the importance of attention to detail in this position!

 

RESPONSIBILITIES

Now that you’re thoroughly captivated, you’re probably wondering what the job is! Below is a non-exhaustive list of all responsibilities, duties, and skills which may be required.

 

  1. Invoice Collection, Conversion, and Import:
    • Collect health insurance invoices from various benefits carriers monthly.
    • Convert the collected invoice data into the appropriate format for use in Beneration’s software.
    • Import the converted data into the Beneration system for analysis and reconciliation.
  2. Report Generation:
    • Once the invoice data has been imported, you will manage a process that compares it to benefit administration data imported by our Analyst team.  
    • Our software is designed to match names automatically between carrier-generated invoices and a company’s internal records. This role involves a layer of quality control – ensuring that we investigate records that couldn’t be matched, looking for systemic errors, and otherwise being responsible for ensuring that our reporting is done correctly.
    • Once name matching is completed and a full review is complete, client reports are posted to our secure portal for them to download.
  3. Proactive Communication:
    • Invoice collection outreach - If carrier invoices are not available when expected, outreach to the carrier, client, and/or health insurance broker will be necessary to ensure our client receives their invoices in a timely manner.
    • Client notifications - When a carrier invoice is running late or reports are delayed, it is critical to escalate the process and ensure that all impacted parties are notified of expected delays.
    • Collaboration – Invoice Reconciliation Specialists work with different departments daily. Collaboration is an important part of our processes and is essential in creating an engaging and encouraging team culture.    

 

QUALIFICATIONS

  • Stellar attention to detail with strong research and analytical skills.
  • Proficient in Microsoft Excel, though advanced experience is preferred.
  • 3+ years of experience in benefits administration, finance, or a related role, with a focus on invoice reconciliation.
  • Bachelor’s degree in Accounting, Finance, Human Resources, Business Administration, Data Analysis, Information Systems, or a related field is preferred.
  • Experience working with health insurance premiums and benefits administration software (e.g. Employee Navigator, ADP, Workday) and is highly desirable.
  • Excellent communication skills, with the ability to translate complex data into actionable insights for stakeholders at all levels.
  • Proven ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.
  • A collaborative mindset and willingness to engage with cross-functional teams to achieve common goals.
  • A cover letter that describes your experience working with employee benefits (if any), why you’re interested in the role, and what your superpower is.

 

WORKING AT BENERATION

 

Beneration has a completely remote workforce. Our company headquarters is in Philadelphia, PA and our team is located across the east coast.

 

We offer a competitive benefits package, including:

  • Discounted health, dental, and vision insurance
    • We have a wide variety of coverage options, ranging from higher-cost full coverage plans, to high-deductible low-cost plans
    • We offer several options for Health Savings Accounts and Flex Spending Accounts
  • We provide company-paid short-term disability insurance, long-term disability insurance, life insurance, and AD&D coverage. Employees can also voluntarily enroll in additional, supplemental coverage of each type.
  • We provide access to multiple, employee-paid voluntary insurance products, including:
    • Accident, critical illness, and hospital indemnity insurance
    • Pet insurance
    • Home & Auto insurance
    • Personal Excess Liability insurance
    • Identity Theft Protection
    • Legal aid
  • All full-time employees are eligible to utilize 401(k) accounts, and after six months of employment, the company will match 100% of 401(k) contributions up to 4% of your annual salary.

 

We consider our team and culture to be our biggest strength, and always work to ensure that Beneration is a fun and collaborative professional environment! We prioritize employee growth and frequently promote from within. We are always open to designing new roles to match company needs with employee skillsets and desires.

 

We are an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.