Assistant Medical Accountant at Jubilee Insurance

Job Ref. No: JHIL088

Role Purpose

• To reconcile assigned medical providers and support the business on medical financial issues. The role involves working closely with the finance, claims, and underwriting teams to ensure the integrity of financial data, compliance with accounting standards, and effective financial management within the medical accounting function.

Main Responsibilities
Operational

• Monitoring of payments to medical service providers and confirmation of receipt of payments by providers.
• Reconciliation of service providers and period sign offs.
• Preparation of reports on a weekly, monthly basis.
• Analyzing and monitoring cost trends for medical providers on a continuous basis.
• Setting up systems within the department to ensure optimum productivity within the various business units.
• Preparing and sending statements and utility reports to members, brokers, or agents monthly or as when requested.
• Excess management and collection.
• TPA reconciliation and management.
• Following up for payment approvals.
• Answering to audit queries.
• Review of claims to ascertain quality of processing.

Corporate Governance

• Ensuring compliance with applicable accounting standards, financial regulations, and industry-specific guidelines in the management of medical accounting and financial reporting processes.
• Upholding the principles of financial integrity and transparency by maintaining accurate and reliable financial records, preparing timely and accurate financial reports, and ensuring the proper disclosure of financial information.
• Contributing to the establishment and maintenance of effective internal controls and risk management processes within the medical accounting function.
• Demonstrating ethical conduct and professionalism in carrying out financial responsibilities, including maintaining confidentiality of financial information, avoiding conflicts of interest, and acting with integrity and objectivity.

Culture

• Foster effective working relationships with internal stakeholders, such as underwriting, claims, finance, and actuarial teams, to ensure alignment and collaboration in medical accounting activities.
• Engaging in ongoing professional development activities to enhance knowledge and skills in claims assessment, reconciliation, payment processing, regulatory compliance, and corporate governance.

Key Competencies

• Financial Acumen
• Analytical Skills
• Meticulous attention to detail to ensure accuracy and completeness in financial reporting and analysis.
• Strong problem-solving skills to address financial discrepancies, anomalies, and control issues.
• Excellent communication and interpersonal skills to effectively collaborate with stakeholders and explain financial information.
• Compliance and Regulatory Knowledge
• Teamwork
• Technology Proficiency

 Qualifications

• Bachelor’s degree in accounting, Finance, or a related field.
• Professional certification, such as Certified Public Accountant (CPA), is advantageous.
• Additional certifications or training in insurance accounting or healthcare finance are beneficial.

 Relevant Experience

• 1 year underwriting exposure in insurance particularly medical and experience in reconciliation.

Deadline - 11th August 2023