Cash Management & Control Specialist II

Health Care Service Corporation • Chicago, IL

21d • Hybrid

About The Position

At HCSC, our employees are the cornerstone of our business and the foundation to our success. We empower employees with curated development plans that foster growth and promote rewarding, fulfilling careers. Join HCSC and be part of a purpose-driven company that will invest in your professional development. Job Summary BASIC FUNCTION This position is responsible for daily bank balance management and money movement, including analyzing cash flow in bank accounts and investment accounts, transferring funds as needed, and monitoring cash activity. Will be responsible for managing cash flow by accessing, developing, and maintaining daily records of bank balances, deposits, disbursements, and transfers; creates new worksheets and reporting formats and procedures, analyzes and maintains cash management worksheets and reports. Also, responsible for initiating and approving electronic fund transfers between internal bank accounts and performing independent reconciliations of the investment general ledger accounts to supporting investment sub-ledgers, custodial bank records, and other supporting information. Serves as mentor to junior team members on cash management and transactional issues that occur in the normal course of operations. The organizational work model is hybrid/flex and requires in-office visibility three days per week, working from home the other two days. NOTE: this role is located in CHICAGO IL. Relocation will not be offered; sponsorship is not available either now or in the future.

Requirements

• Bachelor’s Degree in Finance or Accounting along with three (3) years of direct experience in cash management OR 7-10 years of direct cash management or accounting experience.
• Experience analyzing and preparing reports.
• Experience with general ledger.
• Experience with cash management and/or banking software applications.
• Experience with cash and accounting internal controls.
• Clear and concise verbal and written communication skills.
• PC experience and skills to include Word, Excel, and PowerPoint.

Nice To Haves

• Master’s Degree in Finance or Accounting.
• CTP or CPA Designation.
• Investment accounting experience.
• Five (5) years of direct experience in treasury, finance or accounting with cash management experience.
• Treasury workstation and bank software experience.
• Prior treasury, banking or investment operations experience.

Responsibilities

• Manage cash flow in all bank accounts ensuring that funds are available to cover obligations.
• Maintain records of deposits, disbursements, and transfers of cash.
• Ensure all cash transactions are recorded to the appropriate general ledger account.
• Ensure strong internal cash control procedures are operating effectively by balancing bank recorded activity to cash worksheets, sub-ledgers and general ledger accounts.
• Research internal and bank information.
• Create or produce reports related to cash and bank activity.
• Notify appropriate Departments and personnel of receipt or disbursement of funds from business counterparties (e.g. customers, vendors, other Blue Cross plans, etc) and verify that journal entries are made as required.
• Assist and work closely with Financial Reporting area as part of their monthly bank reconciliation process and procedures.
• Access various bank’s on-line and paper records to review and analyze daily cash positions within bank accounts and custody accounts.
• Employs various bank and internally developed tools and techniques to compile and summarize cash transaction information.
• Liaison with bank personnel and internal and external investment management personnel.
• Use and maintain cash management worksheets and reports, assisting in the creation of new worksheets and reporting formats and procedures.
• Access banking systems ensuring maintenance of security and controls.
• Initiates and/or approves electronic fund transfers between internal HCSC and its subsidiaries bank accounts.
• Creates set-ups for new electronic transactions.
• Review, analyze and compile reports associated with monthly bank analysis statements in order to monitor services and related account charges provided by banking vendors.
• Compile analyses on compensating balances as compared to other sources of invested cash.
• Coordinate and work closely with superiors and Short Term Investment Management personnel to maximize the excess funds are invested to maximize return commensurate with future cash requirements.
• Coordinate and work closely with Investment Management personnel or bank personnel/Credit Facilities to ensure cash is available for projected cash expenditures.
• Manage and train others on systems, processes and procedures.
• Cross train with other areas within Treasury to gain an appreciation and understanding of their duties and responsibilities.
• Serve as a back up when necessary.
• Assist in the management and control of electronic fund transfers to and from third parties.
• Assist in the development and maintenance of a Company wide process and procedures designed to facilitate well controlled and documented electronic fund transfers (i.e. disbursements and collections).
• Insure hierarch approval process commensurate with current authorization guidelines.
• Compile audit and SOX information.
• Perform required internal control and documentation procedures.
• Assist in audits as needed.

Benefits

• At Health Care Service Corporation, you will be part of an organization committed to offering meaningful benefits to our employees to support their life outside of work. From health and wellness benefits, 401(k) savings plan, pension plan, paid time off, paid parental leave, disability insurance, supplemental life insurance, employee assistance program, paid holidays, tuition reimbursement, plus other incentives, we offer a robust total rewards package for employees.
• Learn more about our benefit offerings by visiting https://careers.hcsc.com/totalrewards.
• This role aligns with an annual incentive bonus plan subject to the terms and the conditions of the plan.

What This Job Offers

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