The Sr. Financial Analyst is a key finance position responsible for assisting management in the preparation of the annual budget, including membership, revenues, administrative (operating) and capital budgets, and in developing HNE's future financial plan and forecasting capabilities This position is also responsible for the development of internal reserving calculation including IBNR, Premium Deficiency Reserves, and Risk Adjustment Reserves. This position is also expected to become a subject matter expert in one or more lines of Health New England’s business.
Financial Planning & Forecasting - 25%
• Forecasting/budgeting HNE's year-end membership/member months, revenues, and administrative spending, used to develop high level profit margin assumptions for designated lines of business.
• Review year-to-date capital expenditures and budget variances and assist in preparation of year-end capital spending projections.
• Review open positions and internal promotions & transfers with HR to obtain current status on vacancies and filled positions, calculate year-to-date salary variances and project year-end vacancy factor coverage.
• Develop budgeting and financial projection tools which will enable analysis of multiple scenarios and allow management to understand the range of expected outcomes.
• Lead, educate, and train Cost Center Managers in developing their annual expense budget.
• Development and monitoring the General Unallocated, Depreciation, and Employee Benefits expense budgets.
• Review, reconcile and allocate administrative contingency funds with management on a quarterly basis (President's Contingency Fund, Promotions/Bonus Fund).
• Assist with the development of ORSA financial scenarios.
Reserving - 25%
• Responsible for the development of estimates of key financial statement items, including premium deficiency reserves, loss adjustment expense, Medicaid corridor programs, and ACA and Medicare risk adjustment estimates.
• Develop monthly IBNR and reserves using paid claims, pended/inventory, large claim reports, regression and other data tools and methodologies as appropriate.
• Complete quarterly comparison of internal results to consultant models/output and reconciliation for final reserve sign-off.
• Develop and implement analytical processes that allow for predictive analytics, trend analyses, variation analyses, and provider profiling.
• Prepare reports and supporting analysis for internal and external stakeholders to reduce costs, review trends and improve both clinical and financial efficiency.
Rate Model Support - 25%
• Responsible for the preparation of high-level preliminary budget assumptions of HNE's administrative spending for use in developing the quarterly/annual Rate Model.
• Work with Provider Contracting, CFO and other ELT to develop provider risk sharing budgets and related value based reimbursement models.
• Provide financial and analytic support for the annual Medicare Bid process.
• Development of the ASO administrative fee for new and existing ASO Groups.
Data Analysis and Analytical Report Development - 15%
• Solve business problems for designated lines of business through analysis and communicate the outcomes to internal and external stakeholders, business owners and senior management.
• Use industry standard analytical software (e.g. SAS, SSRS, SQL Server, etc.) to develop and implement data visualizations, such as dashboards.
• Consult with internal and external stakeholders to develop business requirements for report development.
• Develop and implement advanced queries.
• Collaborate with IT Data Management staff to ensure that data warehouse, data extracts and other data sources are designed appropriately for analytical processing and report development for designated lines of business.
Projects/Other - 10%
• Participate in the Admin Work Group on cost saving ideas, and on other work groups as requested.
• Design and maintain an effective and efficient internal budgeting and reporting control structure.
• Develop and design new tools for a variety of complex, special financial projects as assigned.
• Assist with the design and calculation of internal sales commissions.
|Bachelor’s degree in Accounting, Finance or related field and more than 5 years of experience in Financial Analytics, FP&A, Informatics fields, or any related fields or an equivalent combination of education and experience.
Strong financial, analytical and forecasting skills, as well as excellent attention to detail.
Ability to provide skill training and feedback to management and maintain strict confidentiality of information.
Strong organizational and project management skills.
Proven ability to work in a cross-functional team environment.
Excellent oral and written communication skills.
Superior time management skills; capability to prioritize workload to meet strict deadlines.
Advanced Microsoft Excel skills; proficiency in Microsoft Word, PowerPoint & Outlook.
Experience with analytical software and languages (SAS and SQL)
Excellent presentation skills
|Data Entry - Continually
Hearing - Continually
Seeing - Continually
Sitting - Continually
Talking - Frequently