Bank Reconciliation Specialist

Ventra Health; Chennai District; On-site; INR 300,000 - 500,000; Full time

Job summary

Ventra Health is seeking a Bank Reconciliation Specialist in Chennai, Tamil Nadu. The role involves performing initial steps in payment posting and ensuring accuracy in financial reconciliations.

Key responsibilities include creating monthly reconciliations, logging into bank portals for statements, and investigating variances in posting. Applicants should have a high school diploma and at least one year of banking experience.

Qualifications

• At least one (1) year of experience reconciling bank account deposits.
• Experience using banking and reporting systems.

Responsibilities

• Create monthly reconciliations for individual clients.
• Log into bank portals to download bank statements.
• Investigate and resolve posting variances found in the bank statement.

Skills

Bank account reconciliation

Attention to detail

Knowledge of payor portals

Education

High School Diploma or GED

Job description

Overview

The Bank Reconciliation Specialist is responsible for performing the initial steps in the payment posting process. Daily assignments are provided by the supervisor, and the specialist must develop a plan to complete assigned worklists by the end of each day. The Bank Reconciliation Specialist must comply with applicable billing standards and operate effectively in a team-oriented environment, delivering superior service to providers across the country.

Responsibilities

• Create monthly reconciliations for individual clients. (Monthly)
• Log into bank portals to download bank statements using Month-to-Date filtering and save them to the designated client folder for the current month. (Daily)
• Download Lockbox and Correspondence files. (Daily)
• Rename Lockbox and Correspondence files according to standard file naming conventions and upload them to the document management system. (Daily)
• Input new daily deposit totals from the previous business day for dashboard reporting. (Daily)
• Place prior day deposits on theclient's monthly reconciliation log. (Daily)
• Update post logs daily for current and prior month reconciliations to ensure alignment with the bank statements. (Daily)
• Research and upload any missing remits for posting. (Daily)
• Investigate and resolve posting variances found in the bank statement. (Daily/Weekly)
• Perform daily checks to identify any remits not posted within 3 days and coordinate with the posting team for timely completion. (Daily/Weekly)
• Investigate and coordinate with relevant teams to resolve any variances identified in the reconciliation logs. (Weekly/Monthly)
• Monitor daily ERA checks to ensure they are posting automatically; notify the supervisor if any ERAs are not being received. (Daily/Weekly)
• Provide insurance and check details for ERA setups when necessary. (Weekly/Monthly)
• Review and compare reported deposits against Bank Statement totals to verify that all data is accurate, reconciled, and up-to-date. (Weekly)
• Identify Ventra and Non-Ventra payments.
• Ensure all daily, weekly, and monthly tasks are completed accurately and do not require rework or cross-checking. (Daily/Weekly/Monthly)

Qualifications

• High School Diploma or GED.
• At least one (1) year of experience reconciling bank account deposits.
• Knowledge of payor portals is preferred.