Benefits Financial Analyst

Kentucky Personnel Cabinet • Frankfort, KY

7d • $3,961 - $5,942 • Hybrid

About The Position

The Personnel Cabinet offers the great opportunity to work with and serve state agencies, employees, and citizens across the Commonwealth of Kentucky. The Personnel Cabinet’s mission is to provide leadership and guidance to attract, develop, motivate, and retain a talented, diverse workforce; foster an understanding of and adherence to regulatory requirements; and create a positive, supportive work environment that values all employees. The Department of Employee Insurance (DEI) administers an approximate $2 billion, self-funded, health insurance program along with optional life, dental and vision insurances, and flexible spending accounts for nearly 300,000 public employees and their dependents. The Financial Management Branch (FMB) is responsible for the financial activities of DEI including processing accounts receivable and payable, and deposits while maintaining internal financial controls including segregation of duties that meets the standards of the general accepted accounting principles (GAAP) as well as maintain the level of service needed to accurately reconcile financial activity and produce financial statements for health, FSA, life, dental, and vision insurance funding accounts.

Requirements

• Graduate of a college or university with a bachelor's degree.
• Three years of experience in human resource (HR) administration, the administration of employee benefit programs or similar employee assistance programs, life or health insurance administration or sales, the reconciliation of financial or benefit accounts or financial transactions, statistical analysis, accounting, auditing, planning, bookkeeping, banking, business administration, public administration or a related field.
• Master's degree will substitute for the required experience on a year-for-year basis.
• Additional experience in the above areas will substitute for the required education on a year-for-year basis.
• Current certification as a Certified Medical Office Manager (CMOM), Certified Accounts Payable Professional (CAPP). Certified Credit and Risk Analyst (CCRA), Accounts Receivable Specialist (ARS), or Accounts Receivable Manager (ARM) will substitute for up to two years of the required experience.

Nice To Haves

• Advanced skills with standard reporting and analytic Microsoft Office products such as Excel and Access.
• Experience with eMARs.
• Experience with health insurance, optional insurances, FSA and HRA enrollment, and financial administration.
• Experience working with the Kentucky Human Resource Information System (KHRIS), insurance, or billing and collections systems.
• Exceptional attention to detail and accuracy.
• Excellent communication skills, both written and verbal.
• Works well as part of a team.

Responsibilities

• Performs specialized financial and policy analysis for accounts receivable, accounts payable, and contract billing compliance for all benefits offered by the Department of Employee Insurance including reviewing all financial documents in eMARs.
• Responds to inquiries and researches special problems submitted from State Executive and Legislative personnel, DEI vendors, and others regarding financial issues and questions. This includes, but is not limited to, auditor requests and researching member eligibility for benefits being billed by vendors.
• Assists in the Annual Financial Audit and Financial Closing Package for DEI.
• Receives training to monitor, review, and record financial tracking for benefit administration for department management.
• Learns to analyze and monitor receipts, expenditures, fund balances, and other financial elements.
• Monitors and tracks receipts, ensuring they are recorded in accordance with departmental policies and procedures.
• Records or posts check lots.

Benefits

• A 37.50-hour work week
• Paid time off (sick and vacation) and paid holidays
• Training and career development opportunities
• A variety of affordable health, dental and vision insurance options, as well as flexible spending accounts
• Life insurance
• Retirement
• Optional deferred compensation program (pre- and post-tax options - 401K, 457b and IRA)
• Wellness incentive programs
• Employee discounts on electronics, health and wellness, retail, travel, events, entertainment, services, and education

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level