Fallon Health Looking for Financial Accounting and Reporting Senior at Worcester , Massachusetts, United States Full Time

Full Job Description

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.      

 

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.

 

 

 

 

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.

 

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