Accounting Manager

Medica • Madison, WI

5h • Hybrid

About The Position

Medica is a nonprofit health plan with more than a million members that serves
communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver
personalized health care experiences and partner closely with providers to
ensure members are genuinely cared for.

We're a team that owns our work with accountability, makes data-driven
decisions, embraces continuous learning, and celebrates collaboration — because
success is a team sport. It's our mission to be there in the moments that matter
most for our members and employees. Join us in creating a community of connected
care, where coordinated, quality service is the norm and every member feels
valued.

The Admin Expense Accounting Manager is responsible for overseeing cost
accounting and administrative expense allocation for a health insurance
organization with multiple lines of business. This role ensures accurate,
compliant, and timely allocation of administrative expenses across products and
legal entities, supports regulatory reporting, and maintains strong internal
controls. The manager partners closely with FP&A, actuarial, operations, and
compliance teams to ensure financial accuracy, transparency, and audit
readiness.

Requirements

• Bachelor’s degree in Accounting or related field.
• 5+ years of progressive accounting experience, including cost accounting
• Strong knowledge of expense accruals, expense allocation methodologies and financial controls.
• Experience with a mid to large size organization
• Experience managing month‑end close and supporting audits.
• Proficiency with ERP systems (e.g., SAP, Oracle, Workday, PeopleSoft) and advanced Excel skills.

Nice To Haves

• CPA or CMA designation.
• Experience in health insurance, managed care, healthcare services, or a highly regulated environment.
• Experience with statutory accounting and regulatory reporting (NAIC, CMS, state DOI).
• Experience supporting multiple lines of business or legal entities.
• Familiarity with shared services or intercompany accounting models.
• Experience driving process automation or system implementations in cost accounting (specifically workday).

Responsibilities

• Cost Accounting & Expense Allocation
• Design, maintain, and oversee administrative expense allocation methodologies across lines of business (e.g., Commercial, Medicare Advantage, Medicaid, ACA).
• Ensure allocation methodologies are consistent, supportable, and compliant with regulatory requirements (e.g., NAIC, CMS, state DOI).
• Review and approve monthly administrative expenses, accruals, cost allocation calculations, journal entries, and reconciliations.
• Partner with FP&A and actuarial teams to align cost allocations with budgeting, forecasting, and pricing assumptions.
• Maintain documentation of allocation methodologies, assumptions, and controls to support audits and regulatory reviews.
• Develop and maintain capitalization policies in accordance with GAAP
• Key contributor to general ledger implementation activities
• Financial Close & Reporting
• Manage cost accounting activities within the monthly, quarterly, and annual close processes.
• Ensure expenses are recorded in the proper period and allocated accurately across lines of business and legal entities.
• Support preparation of management reports, regulatory filings, and statutory financial statements.
• Ensure assets, including internally developed software, are capitalized in compliance with policy and depreciation is accurate
• Compliance, Controls & Audit Support
• Maintain strong internal controls to mitigate financial and operational risks
• Support internal and external audits, including preparation of schedules, documentation, and audit responses.
• Ensure compliance with healthcare‑specific regulatory requirements related to administrative cost reporting.
• Identify control gaps and lead remediation efforts as needed.
• Leadership & Collaboration
• Lead, mentor, and develop staff.
• Establish clear goals, performance expectations, and development plans for team members.
• Collaborate cross‑functionally with Procurement, FP&A, Actuarial, IT, Compliance, and Operations.
• Serve as a subject matter expert on administrative expenses cost allocation

Benefits

• Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 501-1,000 employees