Payment Recovery Specialist is responsible for analysis of denied reimbursement claims. Ensures appropriate insurance coverage for compliance standards and revenue generation. Being a Payment Recovery Specialist monitors, evaluates, and reviews all cost reporting in support of claims. Coordinates with departments and insurance companies to correct errors as necessary. Additionally, Payment Recovery Specialist requires a bachelor's degree in area of specialty. Typically reports to a supervisor or manager. To be a Payment Recovery Specialist typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature. (Copyright 2024 Salary.com)
At Helzberg Diamonds, the Payments Risk & Compliance Specialist is responsible for monitoring and correcting store transaction information, maintaining integrity of store entries to the general ledger, reviewing company expenses, and providing assistance to stores.
This position regularly interacts with the POS team, store associates, Customer Care, Merchandise, Marketing, Loss Prevention, Information Technology, and other areas of Finance regarding store transactions and monthly reconciliations.
The incumbent communicates with customers, and works with credit card, check processing and financing companies, repair vendors, and the off-site storage vendor.
This individual performs work under general supervision and is responsible for mild to moderately complex issues and problems.
They refer more complex issues to higher-level staff.
PRINCIPAL ACCOUNTABILITIES :
Review store information to ensure all transactions are reported correctly. Daily review stores that have suspended items in the Sales Audit Balancing system.
Answer store questions regarding policy and procedure and provide support with daily issues. Work with Consumer Finance and Customer Care when they ask for assistance, and notify RLPM of large losses, exceptions, or variances.
As needed review customer refunds for corrections.
Work with funding vendors to ensure accuracy in chargeback expenses. Process write-offs as identified.
Review bad checks by researching transactions and sending information to the appropriate vendor or store and Finance. Review the checks from the general ledger group and the daily reports from TeleCheck and complete any appropriate journal entries.
Research returned checks.
Prepare monthly reconciliations for the following accounts : Store Credits, Gift Cards, Cash on Hand, Other Store Returns and Chargebacks.
Identify and research differences to the general ledger. Perform month-end balance process. Perform month-end balance process on a rotation basis.
Last updated : 2024-06-07