|Date Opened||1/4/2021 5:00:00 PM|
|Salary||$93,442 - $127,413/year - Individuals new to state service start at minimum of the pay plan|
|Job Type||Open to the Public|
|Close Date||1/18/2021 11:59:00 PM|
The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for State of Connecticut residents and businesses.
We are recruiting for a Special Funds Administrator to fill an appointed position, which will report directly to the Assistant Treasurer. Located in Hartford, CT, this is a full-time, 40 hours per week, Monday - Friday 8:00am - 5:00pm position.
The Second Injury Fund ("SIF" or "the Fund") is a state operated workers' compensation insurance fund established in 1945 to discourage discrimination against veterans and encourage the assimilation of workers with a pre-existing injury into the workforce. Public Act 95-277 closed the Fund to new "second injury" claims for injuries sustained on or after July 1, 1995 and expanded enforcement, fines and penalties against employers who fail to provide workers' compensation coverage. Prior to July 1, 1995, the Fund provided relief to employers where a worker, who already had a pre-existing injury or condition, was hurt on the job and that second injury was made "materially and substantially" worse by the first injury (thus the term "Second Injury Fund"). Such employers transferred liability for these workers' compensation claims to the Fund, if certain criteria were met under the Connecticut Workers' Compensation Act. Today, the Fund continues to be liable for those claims transferred prior to the closing of the Fund as well as claims involving uninsured employers, reimbursement of cost of living adjustments for certain injuries involving payment of total disability benefits or dependent widow's benefits and, on a pro rata basis, reimbursement claims to employers of any worker who had more than one employer at the time of the injury.
The Fund is responsible for paying certain benefits under the Workers’ Compensation Act, which may require negotiating with the injured party or their legal representative or the insurance carrier. The Special Fund Administrator has limited authority to negotiate claim settlements but may seek increased authority from the Assistant Treasurer or the Settlement Review Committee. The Special Fund Administrator works closely with the Office of the Attorney General to confirm legal sufficiency of stipulated agreements, discuss case strategies and grant appropriate settlement authority.
The Fund’s book of business has steadily changed over the years. During the last several years the Fund has been required to meet new Medicare quarterly reporting requirements which follow stringent guidelines; closely monitor claims for prescribed medications; monitor the legalization of medical marijuana in states where claimants live and determine the impact to the Fund; utilize a new web-based computer system; and, process the continuously increasing number of requests for reimbursement. In many instances when the insurance carrier submits a request for reimbursement, the company computes the initial calculation and submits the request to the Fund for verification and payment. Although the Claims Analysts are responsible for reviewing each request based on state law, any orders and/or memoranda issued by the Workers’ Compensation Commission (WCC) and documentation submitted in support of the request, the Special Fund Administrator is responsible for checking those calculations, signing off when required and submitting the request to the Accounting unit for payment.
Currently, 64% of all claims managed by the Fund are reimbursement claims. It is also important to note that approximately 76% of all new claims received by the Fund are classified as reimbursement requests from insurance carriers.The Fund seeks to provide quality service both to the injured workers and employers of Connecticut, whom it jointly serves and accomplishes this by adjudicating qualifying workers' compensation claims fairly and in accordance with applicable law, industry standards and best practices. Where possible, the Fund seeks to return injured workers to gainful employment or seeks settlement of claims, which ultimately reduces the burden on Connecticut taxpayers and businesses.
In addition to those mentioned above, the Special Funds Administrator will be responsible for:
The incumbent must be able to budget, project and manage the payment of Fund claims, as well as ensure that claims are managed, and payments are issued consistent within issued Fund guidelines, state law and State of Connecticut accounting guidelines. The Special Fund Administrator is also responsible for annually reviewing and updating, when necessary, Fund guidelines.
All applicants must include a resume within the "Resume Tab" of their application. Applicants invited to interview may be required to submit additional documentation, which supports their qualification(s) for this position. These documents may include: performance reviews, supervisory references, college transcripts, licensure, etc., at the discretion of the hiring agency.
Should you have questions pertaining to any phase of this recruitment, please contact Lorna Reid, email@example.com.
In the Office of the State Treasurer, this class is accountable for the administration of the state's second injury or other related special fund and/or program.
Administers program and/or fiscal activities in accordance with statutory mandate; formulates goals and objectives; coordinates, plans and manages program activities; develops or assists in development of related policy; evaluates and trains staff; prepares or assists in preparation of program budget; maintains contacts with individuals both within and outside of program who might impact on program activities; directs or assists in directing financial matters related to management of Second Injury bonding program(s) including but not limited to monitoring cash and bond accounts and development of accounting and internal controls of bond and investment revenues; designs and implements internal control and financial reporting structures and systems for assigned funds and/or programs; determines and analyzes trends; assists in the management and administration of a variety of activities and functions including records retention, claims unit supervision, legal liaison function and/or fiscal and/or administrative duties; reviews pending and proposed legislation and advises Assistant Treasurer accordingly; interprets and administers pertinent legislation; recommends and drafts proposed legislation; performs related duties as required.
Considerable knowledge of and ability to apply management principles and techniques; considerable knowledge of relevant state and federal laws, statutes and regulations; considerable knowledge of relevant agency policies and procedures; considerable knowledge of professional accounting and auditing principles and practices; considerable interpersonal skills; considerable oral and written communication skills; considerable ability to devise, implement, evaluate and analyze accounting and internal control systems, forms, methods and procedures.
Ten (10) years of professional experience in accounting or auditing.
Three (3) years of the General Experience must have been in a supervisory capacity over professional staff.
Note: For state employees, supervisory capacity is interpreted at the level of Supervising Accountant or Supervising Accounts Examiner.
1. College training in accounting or a closely related field may be substituted for the General Experience on the basis of fifteen (l5) semester hours equalling one-half (l/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
2. A Master's degree in accounting or a closely related field may be substituted for one (1) additional year of the General Experience.
AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER
The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.
The State of Connecticut is an Affirmative Action/Equal Opportunity Employer and strongly encourages the application of women, minorities and persons with disabilities.