Cash Reconciliation Specialist

Cash Reconciliation Specialist

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Job Summary

The Cash Reconciliation Specialist plays a vital role in maintaining accurate financial records and ensuring the integrity of payment processing within UMC. Reports to : Financial Controller

Job Specific Responsibilities

• Daily Cash Reconciliation : Monitor, verify, and reconcile payments received from various sources, including patients, insurance companies, and third-party payers, to ensure accuracy in financial reporting.
• Bank Deposits & Account Management : Prepare, verify, and process daily deposits across multiple accounts while maintaining proper documentation of transactions.
• Discrepancy Resolution : Investigate inconsistencies or errors in financial transactions, collaborating with internal teams to promptly resolve discrepancies and ensure accounting accuracy.
• Payment Processing : Handle electronic and manual payment processing, including checks, credit cards, and automated billing, while ensuring compliance with financial regulations.
• Financial Reporting & Documentation : Maintain up-to-date records of cash transactions, revenue journal entries, and financial reports to support audits and ensure transparency.
• Training & Staff Support : Provide guidance and training to clinic and retail staff regarding best practices for cash handling, reconciliation procedures, and compliance requirements.
• Compliance & Security : Ensure adherence to financial policies, internal controls, and industry regulations related to cash management, safeguarding sensitive payment information from fraud or misuse.
• Collaboration & Communication : Work closely with accounting teams, revenue cycle management personnel, and department leaders to support seamless financial processes.
• All other related assigned tasks

Education and Experience

High School Diploma or GED +2 years of experience in banking, accounting, or financial reconciliation, with a strong background in handling cash transactions

Skills and Abilities

Interaction with Other Departments and Other Relationships

This individual will regularly work with point of service locations that collect money, accounting department, and the UMC and UMC Physicians Controllers.

Physical Capabilities

The position involves sitting for extended periods of time. Use of a computer, copier, scanner, calculator is necessary. Visual and auditory acuity required.

Environmental / Working Conditions

This position is subject to normal inside conditions (i.e., protected from weather conditions, not necessarily from temperature changes).

UMC Health System provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment on the basis of race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. Request for accommodations in the hire process should be directed to UMC Human Resources.