Fallon Health Financial Accounting and Reporting Lead in Worcester, Massachusetts
About Fallon Health:
Fallon Health is a company that cares. We prioritize our members—always—making sure they get the care they need and deserve. Founded in 1977 in Worcester, Massachusetts, Fallon delivers equitable, high-quality coordinated care and is continually rated among the nation’s top health plans for member experience, service, and clinical quality. Today, guided by our mission of improving health and inspiring hope, we strive to be the leading provider of government-sponsored health insurance programs—including Medicare, Medicaid, and PACE (Program of All-Inclusive Care for the Elderly)— in the region. Learn more at fallonhealth.org or follow us on Facebook, Twitter, and LinkedIn.
Brief Summary of Purpose:
The Financial Accounting and Reporting Lead (FARL) is a key strategic partner to management across the organization. The role requires demonstrated proficiency in the development, accumulation, and evaluation of key elements necessary to properly report the financial position of the organization. The FARL is responsible to ensure the accuracy of the general ledger by creating, processing and/or recording complex transactions. The role requires a solid understanding of GAAP and Statutory accounting principles and the ability to apply these principles to transactions occurring on a monthly basis. The FARL will support corporate leadership and business segment senior management as Fallon Health continues to ensure the long term fiscal viability of its organization. In addition to preparing standard financial reports, the Lead will be required to prepare ad hoc management analysis. The role requires the Lead to research, understand, interpret and operationalize accounting concepts (revenue and expense recognition) and possess the ability to apply those concepts in matters specific to the health insurance industry. In order to ensure compliance with State and Federal statute, the FARL will oversee / prepare the quarterly and annual statutory filings and fully support the results upon audit. The Lead will be the primary liaison to both internal and external auditors and is responsible to ensure the timely and accurate completion of all Fallon Health audits. The FARL will assist in the maintenance of a strong internal control environment including participation in the Model Audit Rule documentation and testing.
The Lead will employ specialized expertise in exercising their finance duties as they contribute to the execution and development of reporting and ensure the success of corporate strategic objectives. They will use creative means and their significant knowledge base to evaluate and solve complex problems, gather and analyze relevant data and exercise independent judgement in the development of appropriate recommendations and solutions. The Lead has significant latitude in planning and executing their workload and will operate independently within a broadly defined set of corporate policies and practices. It is expected that the Lead will provide guidance that could have substantial impact on the Organization and its resources, therefore, they will need to successfully interact with management and senior personnel on matters requiring coordination across organizational lines. The successful candidate will have extensive expertise and will be a key contributor on a high performing financial accounting and reporting team.
Primary Job Responsibilities:
Work seamlessly within the general ledger system to record / approve transactions in order to appropriately report the financial activity of the organization
Perform complex internal account reconciliations with a high degree of accuracy
Prepare a statement of financial position, a statement of operations and change in net assets as well as other complex financial management and Board documents associated with the monthly, quarterly and annual financial statement close process
Has 5+ years of experience and can independently understand GAAP and Statutory concepts, practices and procedures
Has 5+ years of experience and can demonstrate a full understanding of consolidation accounting concepts, practices and procedures
Report financial results to management and offer strategic insight relative to revenue maximization, cost containment (medical and SG&A) and general resource consumption
Develop and present actionable recommendations and solutions to management that will impact key results
Analyze results and evaluate against underlying assumptions used to forecast and budget performance
Has 5+ years of experience and can demonstrate a full understanding of specific business models and practices
Has 5+ years of experience and can demonstrate the ability to develop integrated revenue / expense analysis, projections, reports and presentations
Research new accounting pronouncements and emerging guidance – make recommendations regarding company policy and practice
The primary liaison for both internal and external audit processes – ensure timely coordination and the delivery of all requirements, review financial statements to ensure they are free of material misstatement, aggregate and/or prepare appropriate supporting documentation, create required footnote disclosures, and maintain an environment of strong internal controls.
Bachelor's degree in accounting or finance
Demonstrated proficiency in performing accounting, reporting, financial modeling, and analytic assignments
At least 5+ years of experience in a managed care environment (will consider other relevant health care, social service, insurance, or not-for-profit experience)
5+ years in GAAP accounting principles is required
Experience with Statutory accounting principles is preferred
Experienced user of software applications necessary to achieve job requirements (ex. Oracle, Blackline, etc.)
Proficiency in Microsoft Excel
Strong knowledge of the following:
Medicare, Medicaid (ACO / MCO) and other government programs
GAAP and Statutory reporting requirements
Consolidation accounting and advanced accounting concepts
Actuarial concepts such as IBNR claims and PDR
Internal controls and independent audit requirements
Working knowledge of the following:
Tax preparation / filing requirements
Resources (systems, etc.) used in performing role :
Microsoft Office Excel,
Word, Power Point.
Oracle Fusion Financials
Fallon Health Vaccination Requirements:
To protect the health and safety of our workforce, members and communities we serve, Fallon Health now requires all employees to disclose COVID-19 vaccination status. As of 2/1/2022, all roles not designated as “Remote” require full COVID-19 vaccination and Fallon Health will obtain the necessary information from candidates prior to employment to ensure compliance. Failure to meet the vaccination requirement may result in rescission of an employment offer or termination of employment.
Fallon Health provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
Posted Date 2 days ago (1/24/2023 2:31 PM)
Job ID 7081
# Positions 1