Fallon Massachusetts Jobs

Overview

About us:

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 Health delivers equitable, high-quality, coordinated care and is continually rated among the nation’s top health plans for member experience, service, and clinical quality. We believe our individual differences, life experiences, knowledge, self-expression, and unique capabilities allow us to better serve our members. We embrace and encourage differences in age, race, ethnicity, gender identity and expression, physical and mental ability, sexual orientation, socio-economic status, and other characteristics that make people unique. 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 Senior is a strategic partner to management across the organization. The role requires proficiency in the development, accumulation and evaluation of key elements necessary to properly report the financial position of the organization. The Senior is responsible to maintain the general ledger’s accuracy by creating, processing and/or recording business 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 Senior will support corporate leadership and business segment senior management as Fallon Health continues to ensure the long term fiscal viability of its organization. The role requires the Senior 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, this role will prepare regulatory cost reports and provide supporting documentation upon audit as necessary. The Senior will be a liaison to both internal and external auditors and assist in the maintenance of a strong internal control environment including participation in the Model Audit Rule documentation and testing.

The Senior will employ expertise in exercising their finance duties as they contribute to the execution and development of reporting and assist with meeting corporate objectives. They will use their knowledge base to address a diverse range of complex problems, gather and analyze relevant data and exercise judgement in the development of appropriate recommendations and solutions. The Senior works with limited direction within well-defined policies and practices. The Senior will provide guidance that could have substantial impact on the Organization and its resources, therefore, they will need to interact successfully with management and senior personnel. The successful candidate is expected to be a strong contributor on a high performing financial accounting and reporting team.

The Senior will employ expertise in exercising their finance duties as they contribute to the execution and development of reporting and assist with meeting corporate objectives. They will use their knowledge base to address a diverse range of complex problems, gather and analyze relevant data and exercise judgement in the development of appropriate recommendations and solutions. The Senior works with limited direction within well-defined policies and practices. The Senior will provide guidance that could have substantial impact on the Organization and its resources, therefore, they will need to interact successfully with management and senior personnel. The successful candidate is expected to be a strong contributor on a high performing financial accounting and reporting team.

Responsibilities

Primary Job Responsibilities

• Perform general ledger maintenance to ensure general ledger is presented at optimal efficiency

• Perform complex internal account reconciliations with a high degree of accuracy

• Prepare financial statements and exhibits on a GAAP & Statutory basis as well as other complex financial management and Board documents associated with the monthly, quarterly and annual financial statement close process

• Has 4+ years of experience and can independently understand GAAP and Statutory concepts, practices and procedures

• Has 4+ years of experience and can demonstrate a full understanding of consolidation accounting concepts, practices and procedures

• Report financial results to management and product line owners in addition to offering 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 results

• Analyze results and evaluate against underlying assumptions used to forecast and budget performance at the financial statement line item and product levels

• Has 4+ years of experience and can demonstrate a full understanding of specific business models and practices

• Has 4+ 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

• In conjunction with outside tax consultants prepare documentation in connection with for profit and non-profit tax returns.

• Review, prepare, analyze and file cost reports and settlements as necessary to ensure compliance with State and Federal regulations

• Act as a liaison for both internal and external audit processes – ensure coordination and delivery of all staff specific requirements, prepare / review work papers and financial statements to ensure they are free of material misstatement, aggregate and/or prepare appropriate supporting documentation, propose required footnote disclosures and operate within an environment of strong internal controls.

Qualifications

Education

Bachelor’s degree in accounting or finance

License/Certifications

CPA preferred

Experience

Demonstrated proficiency in performing accounting, reporting, financial modeling, and analytic assignments

• At least 4+ years of experience in a managed care environment (will consider other relevant health care, social service, insurance or not-for-profit experience)

• 4+ years in GAAP accounting principles is required

• Experience with Statutory accounting principles is a plus

• 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

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.

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.

#AP23

Location US-MA-Worcester

Posted Date 2 weeks ago (9/15/2023 9:56 AM)

Job ID 7383

# Positions 1

Category Finance