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Fallon Health Financial Planning and Analysis Principal 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 fallonhealth.org.

Brief summary of purpose:

The Financial Reporting and Planning Principal (FRPP) is a key strategic partner to management across the organization. The role requires demonstrated proficiency in budgeting, planning, reporting, financial modeling and analytics. The FRPP will support both corporate administrative costs and business segment management to ensure the long-term fiscal viability of the organization. In addition to the preparation of standard financial reports, the FRPP will prepare ad hoc analysis as needed. The FRPP will lead the process of developing budgets and forecasts as part of the strategic planning cycle. To ensure compliance with State and Federal statutes, the FRPP will oversee / prepare all necessary regulatory reports and provide supporting documentation upon audit.

The FRPP will provide financial expertise as they contribute to the development and execution of strategic objectives. They will evaluate complex problems, analyze relevant data and develop appropriate recommendations and solutions. The FRPP will operate independently and is expected to provide guidance that will impact the Organization’s resources. They will interact with management at all levels requiring coordination across organizational lines. The successful candidate will have extensive expertise and will be a key contributor on a high performing reporting and analytics team.

Responsibilities

Primary Job Responsibilities:

  • Extract data from internal and external systems and fully analyze financial results – Must be comfortable creating, modifying and executing 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

  • Collaboratively partner with business segment owners and senior executives to quantify the resources required to achieve strategic initiatives and capital investment goals during budget and forecast cycles

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

  • Analyze results and evaluate against underlying assumptions used to forecast and budget performance

  • Design and populate financial models that will assist management in strategic decision making

  • Understand and develop key business drivers for all product lines

  • Lead quarterly forecasting efforts

  • Review and make recommendations for strengthening forecasting accuracy and efficiency, especially with reference to Adaptive Planning forecasting processes and model integrity

  • Develop reports to compare actual to forecast and analyze key variance drivers

  • Use forecasting model as an aid in developing the annual budget

  • Use forecasting model as a tool to implement actionable measures to return to budgeted goals and to provide monthly reports to product line leaders

  • Support ‘bottom up’ approach to the annual budget

  • Collaborate with product line owners and the Actuarial department to develop budgeting and forecasting of gross margin, medical expense and SG&A

  • Build a detailed budget by month for each product

  • Review results, challenge assumptions and gain consensus from product line owners and Senior Executive Leadership to develop an accurate and attainable annual budget

  • Play a key part in the Strategic Planning process

  • Build a detailed budget by month for each product

  • Review results, challenge assumptions and gain consensus from product line owners and Senior Executive Leadership to develop an accurate and attainable annual budget

  • Play a key part in the Strategic Planning process

Qualifications

Education:

Bachelor’s degree in accounting or finance (other relevant majors will be considered)

MBA preferred but not required, relevant experience will be considered

License/Certifications:

Experience:

Demonstrated proficiency in performing budgeting, planning, reporting, financial modeling, and analytic assignments

  • At least 6+ years of experience:

  • In a managed care environment (will consider other relevant health care, social service, insurance or not-for-profit experience)

  • Can demonstrate a full understanding of specific business models and practices

  • Can demonstrate the ability to develop integrated revenue / expense analysis, projections, reports and presentations

  • Can demonstrate proficiency in financial forecasting and budgeting

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

  • Microsoft Office super-user

  • Strong Excel skills

  • Demonstrated strong analytical skills with superior attention to detail

  • Self-starter with proven leadership skills and ability to meet goals given limited supervision

  • Robust interpersonal skills, effective in working with cross-functional team members

  • Experience building models for analytics, trending, forecasting and budgeting

  • Excellent written/oral communication skills - can generate concise reports and verbal updates

  • Regulatory reporting specific to Health Plans preferred (Medicaid / Medicare programs)

  • Ability to manage multiple priorities simultaneously

  • Flexibility to work in a fast-paced and dynamic work environment

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

  • TPA services

  • Rolling forecast and budget practices

Resources (systems, etc.,) used in performing role

Proficient in Microsoft Office Excel, Word, Power Point. Oracle Fusion Financials. Adaptive Planning. Report writing software. Ability to extract data using internal resources – (ex. QNXT, EDW, Alteryx, Business Objects, etc.)

PM16

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.

Location US-MA-Worcester

Posted Date 1 week ago (11/24/2021 12:08 PM)

Job ID 6612

# Positions 1

Category Finance

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