Fallon Health Financial Accounting and Reporting Sr. Analyst - Growing Healthcare Organization in Worcester, Massachusetts

Overview

About Fallon Health :

Founded in 1977, Fallon Health is a leading health care services organization that supports the diverse and changing needs of those we serve. In addition to offering innovative health insurance solutions and a variety of Medicaid and Medicare products, we excel in creating unique health care programs and services that provide coordinated, integrated care for seniors and individuals with complex health needs. Fallon has consistently ranked among the nation’s top health plans, and is accredited by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit.

The Financial Accounting and Reporting Sr. Analyst (FARSA) is integral in the development, accumulation and evaluation of key elements necessary to properly report the financial position of the organization. The FARSA will create, process and / or record transactions that ensure the general ledger of Fallon Health is accurately maintained. They will work closely with peers across the Organization or constituents in outside entities to gather all relevant data required as part of the premium, cost of benefit and SG&A build and to verify balance sheet account accuracy. The role requires a strong knowledge of accounting, reporting, financial modeling and analytics. The FARSA will support both corporate overhead and business segment management as Fallon Health continues to ensure the long term fiscal viability of its organization. In addition to preparing standard financial reports, the Analyst may be required to prepare ad hoc management analysis or provider / vendor metric reports. The role requires a good understanding of accounting concepts (revenue and expense recognition) and 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 FARSA may prepare regulatory submissions and adequately support the results upon audit. The Sr. Analyst will interact with auditors and will be certain to operate within a strong control environment.

The Sr. Analyst will employ a developed expertise in exercising their finance duties as they contribute to the execution of financial reporting and objectives. They will use their knowledge base to address a diverse range of moderately complex problems, gather and analyze relevant data and exercise judgement in the development of appropriate recommendations and solutions. The Sr. Analyst works with established direction and within well-defined policies and practices. They have knowledge of principles, theories and concepts and will work with other Financial Accounting and Reporting team members to ensure that their assigned work objectives are accurate and adequately satisfied. The Sr. Analyst will contribute to a high performing team and erroneous judgment may require the allocation of corporate resources to achieve their goals. It is important, therefore, for the Sr. Analyst to work collaboratively with internal and external customers on routine matters. It is expected that the successful candidate will be able to provide guidance to any Financial Accounting and Reporting Analysts that require their assistance.

Responsibilities

  • Works proficiently within the general ledger system to record / approve transactions in order to appropriately report the financial activity of the organization

  • Perform moderately 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 financial management and Board documents associated with the monthly, quarterly and annual financial statement close process

  • Has 2+ years of experience and a full understanding of GAAP concepts, practices and procedures

  • Has 2+ years of experience and a full understanding of consolidation accounting concepts, practices and procedures

  • Extract data from internal and external systems and analyze financial results – is comfortable modifying and executing basic data scripts and queries in order to ensure appropriate support for key financial figures

  • 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 results

  • Evaluate trends, costs, revenues, financial commitments and obligations incurred to predict and model future revenues and expenses

  • Analyze results and evaluate against forecast and budget performance

  • Design and populate financial models that will assist management in strategic decision makingHas 2+ years of experience and a full understanding of specific business models and practices

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

  • Understand new accounting pronouncements and emerging guidance – make recommendations regarding company policy and practice

  • A key resource for both internal and external audit processes – ensure organization and delivery of key requirements, prepare financial statements to ensure they are free of material misstatement, aggregate and/or prepare appropriate supporting documentation, assist in the creation of required footnote disclosures and operate within an environment of strong internal controls

Qualifications

Bachelor’s degree in accounting or finance

Demonstrated proficiency in performing accounting, reporting and analytic assignments

  • At least 2-4 years of experience in a managed care environment (will consider other relevant health care, social service, insurance or not-for profit experience)

  • Experienced user of software applications necessary to achieve job requirements (ex. Oracle, Adaptive Insights, Business Objects, etc.)

  • Microsoft Office proficiency

  • Working knowledge of the following:

  • Medicare, Medicaid (ACO / MCO) and other government programs

  • Commercial and ASO Insurance programs

  • TPA services

  • GAAP and Statutory reporting requirements

  • ACA reporting and expense requirements

  • Actuarial concepts such as IBNR claims and PDR

  • Audit (internal and external) experience and knowledge of internal controls

  • Risk adjustment and encounter data

Job ID 5297

# Positions 1

Category Finance