The Mission of The MEMIC Group is to make workers' comp work better with compassion, trusted partnerships, and relentless commitment to workforce safety. The secret to the success and longevity of great organizations is their shared vision and strong values. At MEMIC our values are to be conscientious, to be an expert, to be a partner, to be curious and to be transparent.
Under the direction of the Manager, Financial Operations, the Financial Claims Specialist will
work as a liaison between members of the corporate Finance team, IT, Claims, as well as
external business partners to ensure financial and non-financial transactions are posted correctly
in the Claims CXP system to complete daily and monthly reconciliations and journal entries as
needed. Additionally, this role will work with the financial operations team regarding unclaimed
property and 1099 processing.
Principal Duties and Responsibilities
1. **Daily reconciliation for financial transactions posted by the feed, webhook and claims staff.
Promptly notify Claims and IT of discrepancies. Coding of transactions for daily cash
processing.
2. **Monthly claims cash reconciliation support. Review discrepancies from the analysis of the
direct loss and expense report to multiple internal and external financial reports. Notify
Claims of discrepancies found during analysis and track to make sure corrections are resolved
timely.
3. **Track monthly refunds checks and verify transactions posted as expected. Process journal
entry to appropriate GL accounts.
4. **Work with Financial Accounting team regarding claim questions and discrepancies with the
Direct Loss and Expense journal entry.
5. **Monthly 1099 claim analysis and upload to external system. Partner with claims on tin
mismatches and resolution.
6. **Work with claims to proactively return unclaimed property to payees.
7. **Liaison with Claims and external claim vendors regarding financial transactions that don’t
post as expected to CXP. Notify internal and external partners of negative financial trending
discovered during daily processes or monthly analysis, such as TPA feed or One Inc Webhook
or other issues.
8. **Provides input for all new claims initiatives that have a financial impact. Work with claims
to develop new or updated processes based on current information. Tests and validates
reports as system is updated. Acts as direct liaison with Claim Product Team, IT department
or Business Analyst for process improvement of existing procedures, reporting or data needs
as they relate to these core areas of responsibility.
Minimum Knowledge, Skills, and Abilities
1. Bachelor’s Degree with a minimum of 2 years’ insurance experience or equivalent work and
education experience required. Finance or Claims experience strongly preferred.
2. Ability to work well in tight timeframes and deadlines.
3. Intermediate to advanced data utilization skills to access and gather data, including a basic
understanding of what the data represents.
4. Advanced problem solving and decision-making skills.
5. Advanced skill/competency level demonstrates advanced knowledge and ability; can apply the
competency in new or complex situations.
6. Proficient in Microsoft Excel, Word, PowerPoint, Access is must.
7. Proficient in PowerBI or willingness to learn within the first 6-8 months.
Working Conditions
1. Normal office environment with minimal exposure to excessive noise and temperature
variations.
2. Willingness to travel among company sites as needed.
3. Will be required to stand and/or sit for extended periods.
4. Will be required to work with a Video Display Terminal.
5. May be required to do occasional reaching and bending.
6. May be required to occasionally exert physical effort (lifting/carrying) using appropriate
equipment if needed.
7. Full-time is required.
Reporting Relationship
Manager, Financial Operations
**Denotes Essential Functions
Our comprehensive benefits package includes all traditional offerings such as:
We also offer other benefits to help foster a healthy, balance lifestyle such as:
MEMIC is committed to a policy of nondiscrimination and equal opportunity for all employees and qualified applicants without regard to race, color, religious creed, national origin, ancestry, age, disability, genetics, gender identity, veteran's status, sexual orientation, or any other characteristic protected by law. MEMIC is an equal opportunity employer encouraging diversity in the workplace.
