Cooperative Business Administrator

4 weeks ago

Schaumburg, Illinois, United States Marsh Full time

About Marsh McLennan Agency Midwest
Marsh McLennan Agency's Midwest Region is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country. MMA Midwest is consistently recognized as a top workplace, attracting and retaining its insurance talent by rewarding expertise and investing in career development. Colleagues enjoy an award-winning culture that fosters a highly productive and results-driven working environment.

The Cooperative Business Administrator is responsible for performing administrative functions of the Governmental Entity Cooperative, including benefits administration, general accounting, and Board communications. The Cooperative Business Administrator will manage relationships with the cooperative's external vendors, including auditors, actuaries, financial institutions, and administrators, ensuring accurate and timely completion of all data and management processes.

Execution of Client Service

  • Processes plan changes, as needed or requested by the client, checking for consistency, and documenting in the appropriate system
  • Works with internal departments to ensure cohesiveness and timeliness of service execution
  • Manages time effectively to prioritize workload, client service requests and service parameters on business processes
  • Ensures timely payment of operating bills to vendors, reviewing for accuracy and approval
  • Reviews deposits from Lockbox and ACH payments received
  • Performs related duties as assigned or as situation dictates

Data and Process Integrity

  • Achieves desired levels of data completeness and process integrity by consistently meeting activity timelines, quality metrics and goals
  • Builds personalized client relationships through demonstrated ownership of the service plan and multiple channels of communication such as phone, email, and in-person meetings
  • Consistently achieves data integrity and meets activity timeliness, quality metrics, and goals
  • Utilizes internal resources for identified processes to ensure efficiency and consistency in execution

Internal Peer Relationships

  • Provides feedback and shares information at team meetings
  • Participates in ongoing scheduled meetings with service team
  • Develops successful and effective working relationships with client's human resources team as well as Producers, Account Executives, Account Managers, other Cooperative Business Administrator(s), service team members, managers, carriers, and members of other departments
  • Communicates effectively with the team and provides timely and complete information to allow them to effectively manage service execution

Benefits Administration

  • Responsible for the data integrity surrounding eligibility and enrollment
  • Maintains enrollment system inclusive of new builds, plan/rate changes, and testing
  • Troubleshoots file feed discrepancies and errors
  • Processes adds, terms and maintenance updates if no system is in place
  • Works with the COBRA vendor to ensure notices are distributed appropriately and enrollees added/termed properly with vendors

Accounts Receivable and Accounts Payable Management

  • Updates monthly schedules and checks for accuracy
  • Issues monthly billing statements to cooperative members and checks for accuracy
  • Applies cash receipts to member accounts and identifies shortfalls and payment discrepancies
  • Works with members to resolve billing discrepancies
  • Performs account reconciliations and reviews findings with appropriate personnel
  • Completes 1099's as applicable

Banking and Cash Management

  • Assists the Senior Cooperative Business Administrator as needed with:
    • Completes internal bank transfers as required
    • Maintains ACH template(s) as applicable
    • Resolves any credit or debit adjustments as required
    • Maintains investments as directed by Board
    • Completes monthly bank reconciliations for Board Treasurer to review/initial

Financial Statement Preparation

  • Assists the Senior Cooperative Business Administrator as needed with:
    • Creates and maintain the annual budget for the co-op
    • Completes monthly and annual journal entries as required
    • Completes monthly Financial Statements and present at Trustee Board Meetings
    • Completes year end schedules as required
    • Completes annual audit with independent auditor
    • Completes schedules for annual actuarial analysis


External Peer Relationships

  • Assists the Senior Cooperative Business Administrator as needed with:
    • Completes Trustee Board Agenda and Packet information for Trustee Meetings
    • Completes Department of Insurance annual registration and year-end report filings
    • Completes Minutes for Trustee Meetings
    • Maintains main website for all Trustee Meetings and other posting requirements

Required

  • 3+ years employee benefits experience
  • Upon hire, Producers License for Life/Health
  • BA/BS in accounting


Preferred

  • Intermediate skill level in Microsoft Office Suite
  • Government Accounting or Fund Accounting experience
  • Analytical Skills

A Great Place to Work. A Great Place to Perk.

Recognized for workplace culture by the likes of Fortune Magazine, The Chicago Tribune and more, our colleagues enjoy an environment that fosters creativity as well as individual and organizational growth. A small sampling of the benefits our colleagues enjoy include:

  • Medical, dental, vision, 401K benefits and more
  • The flexibility to work at home or an office
  • A paid day off to volunteer and company-organized volunteer events
  • Up to $1,000 per year in matching charitable donations
  • Up to $750 per year in wellness rewards
  • A company-wide mentality that you can never appreciate your co-workers too much

Who You Are is Who We Are

MMA Midwest has created an award-winning culture largely due to meeting our colleagues where they are, celebrating their differences and building an inclusive environment. We challenge ourselves to create a workplace where our colleagues feel not only welcomed, but feel they belong; where we not only embrace diverse perspectives and opinions but seek them out; and where we ask not how a colleague fits our culture, but what they add to it.

#MMAMW

#MMAEHB

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