AR/Collections Analyst

Location:  This position is a hybrid role based out of our Minneapolis, MN office. The current expectation is that we are in office two days each week (between Mon-Wed), with extra additional days as required during the month.

Overview:  The AR/Collections Analyst is responsible for various accounts receivable/collections functions including collection portfolio management, strategic or special handling client negotiations, collection program quality assurance, contract review and analysis, cash receipts forecasting, collection agency placement actions, preparing client facing communications, and updating ERP data. This role supports the Manager, AR/Collections in daily Collection team coordination and customer collections matters.

Duties and Responsibilities:

• Assists Manager in coordinating team collections activities, analysis, reporting, and customer dispute resolution.
• Manages collection activities of Senior Analyst portfolio, including strategic or special handling customers.
• Provides quality assurance to collections program including data collected, analysis, and reports generated.
• Coordinates third-party collections agency processes and relationship with agency contacts.
• Assists in monthly cash receipts forecasting and leading cash goal achievements.
• Supports collections process improvement initiatives and implementation.
• Contributes to the testing, deployment, and training of enhancements and break-fixes to business applications.
• Contributes to the documentation of desk procedures and SOPs.
• Accurately adheres to collections processes in accordance with SOP.
• Creates, maintains, and reviews various schedules, reports, and team documentation.
• Prepares and reviews a variety of customer communications to support business needs.
• Delivers client service, as needed.
• Maintains compliance with Inovalon’s policies, procedures and mission statement.
• Adheres to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position.
• Fulfills those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Company.

Job Requirements:

• Minimum three (3) years of experience in Finance or Accounting.
• Experience with ERP system.
• Advanced knowledge of Microsoft Excel
• General knowledge of Microsoft Suite, including PowerBI, preferred.
• Experience in Healthcare preferred.
• Exceptional ability to communicate effectively with customers.
• Detail oriented with excellent analytical skills and the ability to understand the Company’s products and processes.

Education:

• High school degree or equivalent and related work experience required.
• Bachelor’s degree in accounting, finance, mathematics, engineering, or related field preferred.

Physical Demands and Work Environment:

• Sedentary work (i.e. sitting for long periods of time).
• Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry push, pull or otherwise move objects and repetitive motions.
• Subject to inside environmental conditions.
• Travel for this position will include less than 5% locally usually for training purposes.