Contractual Insurance Controller Jobs (NOW HIRING)

Job Responsibilities ***Only current PEBA employees will be considered for this position.*** The SC Public Employee Benefit Authority (PEBA) is the administrator and co-trustee of retirement and insurance programs for over half a million active and retired public employees of the State of South Carolina and their dependents. Under limited supervision, this position is responsible for directing and managing the Accounts Payable and Banking areas for the agency's Insurance Benefits' Finance Department, which includes oversight of the financial requirements of contractual vendor disbursements, prescription drug subsidies and rebates. Additionally, this position is responsible for ensuring that all billing deposits, rebates and subsidies, and miscellaneous revenue are posted as appropriate in the Insurance accounting system and the South Carolina Enterprise Information System (SCEIS)

Job duties include: Managing, reviewing, and approving all vendor disbursements pertaining to reimbursement of claims, payment of administrative fees and billed premiums for fully insured products ensuring accuracy and timeliness. Ensuring all other miscellaneous payments as requested by management and as required by federal regulations governing health care plans are processed in a timely manner. Reviewing and approving journal entries as necessary.

Managing, reviewing, and ensuring all billing deposits, Electronic Funds Transfers (EFT) cash receipts, and miscellaneous revenue are processed and recorded accurately and in a timely manner within the Insurance accounting system and SCEIS. Ensuring that all returned checks are identified, recorded and the monthly reclassification is posted. Managing, reviewing, and ensuring the contractual obligations and transactions related to the Employer Group Waiver Plan (EGWP) subsidies and the drug rebates are calculated accurately and coded properly in the Insurance accounting system and SCEIS.

Attending internal PBM and Medicare Part D meetings to stay abreast of rebate/EGWP issues impacting financial reporting, including year-end payable reporting. Reviewing and approving journal entries as needed. Maintaining the Self-Insured Reserve balances in the Insurance accounting system.

Monitoring and reviewing all transactions affecting the State Health Plan, MUSC, Dental, and Disability Life reserves and ensure that they are recorded accurately in the Insurance accounting system. Validating revenue postings, claims disbursements, and manual transactions not generated through the Insurance accounting system (Operating Transfers, EGWP Subsidies, Prescription Drug Rebates, Adoption Assistance payments, State Treasurer income sweep, and Vendor Fees) and ensuring that they are posted accurately in the reserve balances. Working with IT on corrections or modifications to reserve structure.

Working closely with PEBA's Fringe Benefit Administrator to receive annual forfeitures, stale dated checks, and ensures PEBA has received all funds in a timely manner. Prepares and uploads stale dated check information to the Stock Transfer Order (STO) as part of the Unclaimed Property reporting. Participating in monthly meetings with vendor, calculates and requests payments needed for contractual prefunding requirements and helps resolve other vendor issues as needed.

Ensuring staff accountability by monitoring and addressing employee performance and conduct. Effectively utilizing the EPMS process in setting expectations and evaluating performance. Following agency policies for addressing disciplinary concerns.

Serving as an advocate for employee interests by communicating with agency leadership. Collaborating with Insurance Controller on financial matters to ensure proper accounting and financial reporting of Insurance Benefits and performs other related duties as requested. Minimum and Additional Requirements A bachelor's degree in finance or accounting and at least seven (7) years of professional experience in a related area such as management, accounting, auditing, or finance.

Extensive knowledge of investments, accounting and management principles. Knowledge of Insurance Benefit's organizational structure, the people who manage the work and processes applicable to investment and accounting related work. Knowledge of the SCEIS financial platform.

Ability to interpret and apply rules and regulations. Ability to interpret/analyze complex financial data and provide financial information/reports to help management make sound financial decisions. Ability to plan, assign, review, and supervise the work of others and communicate effectively.

Additional Comments In addition to 13 paid holidays, this position is eligible for comprehensive insurance programs, retirement plans, and a generous paid leave program.