Sr. Financial Analyst - Finance & Management Reporting

Job description

High-profile analyst that is a subject matter expert in advanced preparation, analysis, forecasting, and modeling of financial data in the achievement of strategic financial plan goals and objectives. Responsible for the analysis of detailed product line financial results used in formal internal management reports and external regulatory financial statements. Responsible for technical accounting research and ensuring reports are prepared according to applicable accounting guidelines and regulatory rules and requirements. Required: Bachelor’s degree in finance, accounting or related field, or direct and applicable work experience. 4+ years of experience in accounting/auditing with a strong technical knowledge of GAAP and SAP concepts. Demonstrated experience preparing, reviewing, or auditing GAAP and Statutory basis financial statements and NAIC regulatory reports. Experience with independently researching and documenting support for GAAP and Statutory basis accounting conclusions. Strong interpersonal skills with the ability to build relationships of collaboration and trust; experience working with and actively protecting confidential information and data. Demonstrated problem-solving, quantitative and analytical skills with the ability to recognize inconsistencies, analyze for reasonableness and accuracy, research and come to conclusion in a wide variety of changing analytical situations. Ability to manage tight deadlines, prioritize workload and achieve effective, accurate results in a fast-paced and often ambiguous environment; effective multi-tasking and prioritization skills are vital. Demonstrated ability to communicate effectively, verbally and in writing, expressing complex concepts clearly and concisely with multiple peer groups and senior levels of management. Ability to work independently and cooperatively on teams, maintaining positive relationships with customers. Ability to perform, document and guide others through a series of related steps. Ability to analyze and interpret financial data to produce accurate reports. Advanced technical knowledge and experience working with word processing, spreadsheets, and general ledger packages, specifically proficient in Microsoft Word, Excel, and Adobe PDF. Preferred: Professional Certification (CPA). Job Responsibilities a. Prepare both internal and external financial statements, reports, and supporting information accurately and completely in accordance with applicable accounting guidelines and regulatory rules while meeting timeliness guidelines. Reports include NAIC / Insurance Division filings, externally audited financial statements, and Medical Loss Ratio filings for CMS, all of which require a high level of precision and subject matter expert knowledge of associated rules and reporting requirements. b. Prepare formal management financial reports at a detailed product line level and legal entity level, including analysis of results to budget, prior year, and/or other relevant information to ensure accuracy and reasonableness. Detailed reviews are performed monthly, quarterly, and on an annual basis. c. Communicate and present financial data to various levels of management (including senior leaders) through both verbal and written communication, in both formal and informal settings Assist leadership, including senior leaders, in monitoring financial performance of the organization by analyzing financial data and providing explanation of variances from expected results. d. Research, document, and report on Generally Accepted Accounting Principles GAAP, Statutory Accounting Principles SAP, NAIC Annual and Quarterly Statement Instructions, and Blue Cross Blue Shield Association accounting guidelines including their applicability and potential impact to Wellmark to ensure corporate compliance with reporting requirements. Keep informed of GAAP, SAP, and NAIC policy updates and statement requirements. e. Prepare and review journal entries related to assigned functional responsibilities and reconcile account balances to supporting documentation. Prepare account analyses, accrual calculations and other related accounting documents/schedules. Review accounting transactions for data accuracy. f. Ensure administrative expenses are allocated to appropriate entities and market segments through review of actuals to budget, other comparative analysis, scenario modeling, and proposal of changes when needed. Proactively identify the implication of business changes and how those changes impact administrative expense allocations and downstream reporting requirements, including NAIC reporting and Medical Loss Ratio CMS reporting. Serve as a business partner to other Wellmark departments. g. Ensure operating revenue and operating expenses are allocated to the appropriate entities and market segments through review of actuals to budget, other comparative analysis, scenario modeling, and proposal of changes when needed. Proactively identify the implication of business changes and how those changes impact operations and downstream reporting requirements, including NAIC reporting and Medical Loss Ratio CMS reporting. h. Maintain and review documentation specific to support operating effectiveness of internal controls. Assist with internal and external audits and regulatory exams, including providing supporting documentation and communicating with external auditors. i. Represent Finance on cross-functional projects requiring financial expertise. j. Other duties as assigned. An Equal Opportunity Employer The policy of Wellmark Blue Cross Blue Shield is to recruit, hire, train and promote individuals in all job classifications without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or any other characteristic protected by law. Applicants requiring a reasonable accommodation due to a disability at any stage of the employment application process should contact us at Please inform us if you meet the definition of a " Covered DoD official ". At this time, Wellmark is not considering applicants for this position that require any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please refer to the following resources: Nonimmigrant Workers and Green Card for Employment-Based Immigrants Wellmark supports and expects the responsible use of AI for our workforce! We welcome the responsible use of these tools by job seekers as well and are interested in learning from you; you will have an opportunity in the application process to share which tools you used and how you applied them. Why Wellmark? We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we’ve built our reputation on over 80 years’ worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors–our members. If you’re passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one that is committed to sustainability and innovation, consider applying today! Learn more about our unique benefit offerings here . Want to know more? You can learn about life at Wellmark here .