Description
JOB SUMMARY
This job is responsible for managing the financial accounting and reporting activities for the various health insurance subsidiaries of the Organization in accordance with Statutory Accounting Principles (SAP).
The insurance operations comprise a $16B enterprise which underwrites health insurance, dental, & stop-loss insurance directly or through various subsidiaries.
This job is focused on the health insurance operations. Accountabilities include managing the financial reporting department, coordinating the financial filings for the Insurance Departments, and statutory-basis audited financials, maintenance of general ledgers, monitoring of risk based capital and research of applicable statutory technical guidance and communicating implications of guidance to management.
This position manages various direct reports consisting primarily of lead financial accounting and reporting analysts and senior financial accounting and reporting analysts that comprise the financial reporting department focused on SAP reporting.
ESSENTIAL RESPONSIBILITIES
Perform management responsibilities including, but not limited to : involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity.
Plan, organize, staff, direct and control the day-to-day operations of the department; develop and implement policies and programs as necessary;
may have budgetary responsibility and authority.
Effectively develop financial accounting policies and manages the financial accounting functions of the Organization and assigned subsidiaries.
Accountable for the statutory general ledgers of the Organization and assigned subsidiaries. This includes but is not limited to maintenance / deployment of the systems statutory general ledger, the statutory reporting software, and review of the general ledger activity.
Manage the quarterly / annual insurance department & National Association of insurance Commissioners (NAIC) financial filings process.
Oversee the statutory reporting activities of the financial reporting department, support finance departments such as treasury, shared services, operational accounting, cost accounting and tax, and subsidiary / affiliate finance units.
Ensure timely and accurate issuance of various externally issued audited statutory financial statements for the Organization and its health insurance subsidiaries.
Coordinate external audit process / activities with external audit firm. External auditors include Commonwealth of Pennsylvania & other State Insurance Department auditors, various government program auditors, the Organization's external CPA auditors, and Blue Cross Blue Shield Association auditors.
Ensure proper recording and maintenance of accounting records in accordance with SAP. This includes determining the appropriate accounting treatment for the organization’s most complex financial transactions including merger & acquisition activity.
Support other finance or business areas with technical accounting research and interpretation support.
Stay abreast of new accounting pronouncements that impact the Organization’s business lines and advises senior management of their impact to the organization.
Oversee the adoption of the new guidance, periodically in conjunction with the impacted finance or business areas.
Manage the Medical Loss Ratio reporting activities in compliance with Health and Human Services (HHS) regulations for applicable entities.
Ensure the organization is compliance with other required Healthcare Reform filing and regulation requirements, ensure monitoring and forecasting of Risk Based Capital for the Organization & insurance subsidiaries.
Other duties as assigned.
EDUCATION
Required
Bachelor’s degree in Finance, Business Administration, Accounting or related field OR relevant experience and / or education as determined by the company in lieu of bachelor's degree.
Preferred
Master's Degree in Finance, Business Administration, Accounting or related field
EXPERIENCE
Required
5 - 7 years Finance or Accounting
To Include
3 - 5 years Management
Preferred
3 - 5 years Big 4 Public Accounting Experience or comparable experience with large regional CPA Firm, preferably in the Insurance or Healthcare Industry
3 - 5 years in Statutory Accounting & Reporting
1 - 3 years in Computerized accounting systems (e.g. SAP, Oracle)
1 -3 years in Healthcare Reform compliance and filing requirements for health insurance entities (e.g. MLR)
LICENSES OR CERTIFICATIONS
Required
None
Preferred
Certified Public Accountant (CPA)
SKILLS
Strong technical abilities and must be able to interpret and clearly understand authoritative accounting guidance. The incumbent must also possess an in-depth knowledge of insurance business in general, as well as the Organization, in order to analyze and apply guidance to specific situations
Ability to meet deadlines, to manage multiple processes, to supervise staff and to communicate effectively with all levels of management
Proven leadership skills ability to motivate others to quickly achieve results in a matrixed environment
Uses knowledge of industry and market trends to develop and champion long-term strategies
Demonstrates the ability to effectively persuade others to listen, commit, and act on a new approach; Strong and effective verbal and written communication skills
Self-confident with an ability to accept and respond to challenges in a positive manner
Effectively presents complex topics in a concise manner to audiences at various levels and in various sizes; Broad understanding of business issues, metrics, organizational linkages and customer value
Successful experience in achieving results through people in a complex environment; Strong organizational and analytical skills in addition to project leadership and management skills
Language (other than English)
None
Travel Required
0% - 25%
PHYSICAL, MENTAL DEMANDS and WORKING CONDITIONS
Position Type
Office-Based
Teaches / trains others regularly
Occasionally
Travel regularly from the office to various work sites or from site-to-site
Occasionally
Works primarily out-of-the office selling products / services (sales employees)
Never
Physical work site required
Lifting : up to 10 pounds
Constantly
Lifting : 10 to 25 pounds
Does Not Apply
Lifting : 25 to 50 pounds
Does Not Apply
Pay Range Minimum : $78,900.00
$78,900.00
Pay Range Maximum : $146,000.00
$146,000.00
Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities, and prohibit discrimination against all individuals based on their race, color, age, religion, sex, national origin, sexual orientation / gender identity or any other category protected by applicable federal, state or local law.
Highmark Health and its affiliates take affirmative action to employ and advance in employment individuals without regard to race, color, age, religion, sex, national origin, sexual orientation / gender identity, protected veteran status or disability.
EEO is The Law
Equal Opportunity Employer Minorities / Women / Protected Veterans / Disabled / Sexual Orientation / Gender Identity ()
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