Benefits Reconciliation Specialist

DOXA Talent, Inc.; Taguig; Hybrid; PHP 450,000 - 650,000; Full time

Job summary

DOXA Talent, Inc. is seeking a Benefits Reconciliation Specialist to review and reconcile monthly invoices and deductions across multiple client-employer benefit accounts.

You will collaborate with benefits, payroll, and accounting teams to resolve discrepancies and ensure accuracy of carrier payments. The ideal candidate has at least 2 years in reconciliation or auditing, strong data entry skills, and proficiency in Microsoft Office.

Qualifications

• Bachelor's degree in finance or related field.
• Minimum of 2 years of relevant experience.
• Familiarity with and understanding of PEO operations preferred.
• Knowledge of employee benefits laws (ERISA, Section 125, COBRA, HIPAA) preferred.
• Thorough knowledge of reconciliation and auditing principles and practices.
• Excellent data entry skills.
• Proficient in Microsoft Office and audit software, with ability to learn new systems.
• Ability to perform mathematical computations.
• Ability to understand, analyze, and explain benefit cost.
• Ability to identify audit problems and take corrective action.

Responsibilities

• Review and audit insurance carrier invoices to reconcile with client benefits plans and payroll deductions.
• Verify monthly premium statements and ensure timely payments to carriers.
• Monitor changes in deductions and premiums; investigate billing discrepancies with client employers and carriers.
• Input benefit deductions into payroll software and reconcile plans monthly.
• Develop process improvements and maintain audit documentation.

Skills

Reconciliation

Auditing

Data entry

Analytical thinking

Cost analysis

Communication

Education

Bachelor's degree in finance or related studies

Tools

Microsoft Office

Payroll/audit software

Job description

About the role

We're seeking a Benefits Reconciliation Specialist. This role is designed for someone with thorough knowledge of reconciliation and auditing principles who can identify, resolve, and explain billing discrepancies as they affect carriers and client-employers. You'll play a key role in administering and reconciling monthly invoices and deductions across multiple client-employer benefit and insurance accounts, managing internal communication between the benefits, payroll, and accounting departments.

Key responsibilities

• Review and audit insurance carrier invoices to be reconciled with client employer benefits plans and payroll deductions
• Verify the calculation of monthly premium statements for all client benefit policies, working with accounting to ensure payments are made to carriers monthly
• Monitor changes in client employer/employee deductions and premiums, and audit and investigate monthly billing discrepancies, serving as the contact between client employers and carriers to resolve issues
• Input benefit deductions into the payroll software system and reconcile all benefit plans on a monthly basis, ensuring 100% accuracy
• Develop process improvements to improve the quality and effectiveness of deliverables, and maintain audit documentation according to established standards

About you

• Bachelor's degree in finance or any related studies
• Minimum of 2 years of relevant experience
• Familiarity with and understanding of PEO operations preferred
• Preferred knowledge of employee benefits laws, including ERISA, Section 125, COBRA, and HIPAA
• Thorough knowledge of reconciliation and auditing principles and practices
• Excellent data entry skills
• Proficient in Microsoft Office and other related audit software, with the ability to learn new computer system applications quickly
• Ability to perform appropriate mathematical computations
• Ability to understand, analyze, and explain benefit cost
• Ability to identify audit problems and take corrective action