Financial Analyst V

TX-HHSC-DSHS-DFPS • Austin, TX

1d • Onsite

About The Position

The Texas Department of Family and Protective Services (DFPS) works to build on strengths of families and communities to keep children and vulnerable adults safe, so they thrive. We do this through investigations, services, and referrals.

The DFPS Financial Analyst V performs highly advanced (senior-level) financial analysis and regulatory work in the Community-Based Care Operations (CBCO) department focused on the fiscal oversight and monitoring of Single Source Continuum Contractors (SSCC) and performs financial analysis and regulatory work involving compiling, reviewing, and analyzing financial data; preparing reports and responding to inquiries; and recommending appropriate action to resolve financial and regulatory problems. May serve in a lead or supervisory role. Works under minimal supervision, with extensive latitude for the use of initiative and independent judgment.

Requirements

• Skill in the use of a computer and applicable software, and in data modeling.
• Skill in data collection, analysis, and preparation of concise reports to present findings.
• Ability to perform and interpret numerical analyses; to interpret statutes; to analyze and summarize financial and management records for accuracy and conformance to procedures, rules, and regulations; to prepare reports and correspondence regarding findings; to communicate effectively; and to provide guidance to others.
• Ability to supervise the work of others.
• Ability to administer financial processes and systems.
• Ability to evaluate financial and management records for accuracy and conformance to procedures, rules, and regulations.
• Ability to organize, present, and communicate complex information effectively and in a user friendly, easy to understand format.
• Ability to establish and maintain effective working relationships with staff at levels of an organization, agencies, providers, and stakeholders.
• Ability to communicate concisely and effectively verbally and in writing.
• Ability to maintain the security and integrity of the infrastructure per Governor Abbot Executive Order GA-48.
• Knowledge of financial analyses and examination procedures for regulated entities, of financial and industry terminology and practices, and of statistical analysis.
• Three years minimum experience in financial analysis and regulatory work.
• Graduation from an accredited four-year college or university with major coursework in accounting, business administration, finance, economics, or a related field is generally preferred.
• Experience and education may be substituted for one another on a year-to-year basis.

Nice To Haves

• Five years preferred experience in financial analysis and regulatory work.
• Experience with cost reporting and capitation modeling is preferred.

Responsibilities

• Coordinates analysis of the agency’s programs to determine their effect on the financial management of the agency’s resources.
• Oversees and manages the analysis and review of the financial forecasts and related strategies within DFPS to assess organizational financial needs, evaluate reports, identify and mitigate financial risks and support informed planning and decision-making in alignment with leadership direction.
• Develops financial and/or regulatory plans.
• Supports DFPS Finance’s budgeting group by providing forecasts of rate reconciliations and incentive/remedy payments in order for financial plans to be developed.
• Uses SSCCs’ quarterly utilization reports to create an annual forecast of total utilization of Placement Days by Placement type. This forecasted amount is compared to annual budgeted cost to determine if additional appropriations are required.
• Evaluates periodic SSCC results against performance goals to project the fiscal impact to DFPS of net incentive or remedy payments.
• Evaluates and mitigates financial risk of providers of third-party financial instruments, including banks, insurance companies, and sureties.
• Reviews SSCC insurance coverages, financial risk, and revolving credit arrangements from third-party institutions.
• Compares and addresses insurance coverage to statutory and contractual requirements.
• Examines and limits amount and terms of credit arrangement against overall capital structure of SSCC and/or parent company to determine adequacy of those arrangements.
• Formulates financial models to simulate anticipated financial performance as a result of changes in laws, regulations, policies, and procedures.
• Manages, establishes, and implements financial modeling and forecasting related goals and objectives consistent with the agency’s strategic plan.
• Formulates and applies financial models to simulate projected financial performance, supporting DFPS Finance’s analysis of the fiscal impact of proposed legislation.
• Formulates financial models by identifying programmatic changes required by proposed legislation that may have a fiscal impact on SSCCs. This could include changes in provider rate schedules; eligibility of DFPS beneficiaries; headcount ratios; suite of services provided; etc. Applies monetary value to each of these categories under various scenarios.
• Develops and maintains comprehensive sources of examination-related policies and procedures.
• Maintains and promotes use of centralized shared repository where staff can access and review prior state and federal audit reports - including financial, compliance, economy and efficiency, effectiveness and other special audits – to support transparency, institutional knowledge, audit readiness, and continuous improvement of programs and operations.
• Integrates conflicting programmatic and financial objectives into recommendations for agency management.
• Evaluates all proposals for establishing rates or developing incentive programs to determine how to maximize and integrate SSCC performance while complying with fiscal constraints.
• Compares the rate models that were prepared by DFPS Finance or HHS Provider Finance Department with the funding appropriated by the Legislature to determine whether Exception Items should be included in the DFPS Appropriation Requests.
• Develops risk sharing models to evaluate the potential value of incentives or remedies that would result in differing levels of performance by the SSCCs. Compares the results of those models against current appropriations.
• Develops financial objectives and strategies.
• Manages, develops, and implements financial modeling and forecasting goals and objectives aligned with the agency’s strategic plan; oversees analysis of financial trends, projections, and performance indicators to support informed decision-making, resource planning, and long-term fiscal sustainability.
• Develops and implements internal financial policies and procedures.
• Manages and collaborates with DFPS executives and the Office of Finance to develop, implement and monitor policies, procedures, and guidelines related to agency finances.
• Develops assessment and measurement criteria to monitor and oversee compliance of financial related policies, procedures, and guidelines.
• Analyzes financial data, information, and applicable business, financial, and/or regulatory plans.
• Analyzes Quarterly and Annual SSCC Cost Reports to gain insight into SSCC profitability and to identify and investigate any outliers.
• Evaluates SSCC Cost Reports to determine the adequacy or paucity of funding.
• Analyzes all proposed risk-sharing arrangements with SSCCs.
• Ensures compliance with established procedures, requirements, laws, and regulations; completeness of data; and presence of adequate documentation.
• Develops assessment and measurement criteria to ensure compliance with established standards, policies, and regulations and ensures sufficient documentation exists to monitor and oversee compliance of financial-related policies, procedures, and guidelines.
• Monitors and coordinates third-party financial reviews, including accumulation of data, financial modeling, reporting, and monitoring of responses.
• Oversees and organizes the collection, organization, analysis, and preparation of financial information and reports regarding the SSCCs.
• Tracks and integrates financial studies, audit reports, financial statements, and analyses of other financial information to develop findings, recommendations, and strategies to mitigate financial risks.
• Reviews, monitors responses, and analyzes service usage of each SSCC system to identify trends, assess areas of strength, and pinpoint areas of weakness.
• Ensures compliance with CBC and the Finance staff on the possible utilization of a capitation model for future funding of the SSCC
• Assesses compliance and collaborates with HHSC Provider Finance staff on the cost reporting required of SSCCs and providers.
• Evaluates and monitors agency assets and liabilities.
• Reviews and monitors SSCC insurance coverages and revolving credit arrangements.
• Compares insurance coverage to statutory and contractual requirements.
• Compares amount and terms of credit arrangement against overall capital structure of SSCC and/or parent company to determine adequacy of those arrangements.
• Processes information by auditing and verifying financial data.
• Analyzes evidence and reconciles the accuracy and completeness of CBC financial information.
• Examines supporting financial documents, conducts interviews, and develops analytical procedures.
• Processes financial information and reviews balance sheets, income statements, cash flow statements, and financial disclosures.
• Verifies compliance with accounting standards (GAAP, IFRS).
• Researches technical questions regarding financial and regulatory compliance with applicable state and federal statutes and regulations.
• Conducts research on technical fiscal questions and serves as a subject matter expert on applicable federal and state statutes.
• Reviews all Request for Applications (RFAs) and contract amendments to ensure compliance.
• Reviews all SSCC external audits to determine if compliance issues are identified.
• Researches contracting-related questions and contributes to the development of financial contracting policies and procedures, while planning fiscal-related contracting activities consistent with division objective and goals.
• Updates profiles of entities to ensure that information is current and accurate.
• Establishes a consistent cadence to review entity information for accuracy.
• Documents significant business changes and uses tools to validate updates.
• May serve in a lead or supervisory role.
• Supervises and provides work assignments, clear direction and information on responsibilities and work performance expectations to staff.
• Manages the professional direction of team, including making decisions on hiring, managing, and providing guidance and professional staff development.
• Develops work performance plans, manages performance, and conducts staff performance evaluations annually.
• Performs related work as assigned.

Benefits

• 100% paid health insurance for you, and 50% paid for eligible family members—saving you hundreds every month in out-of-pocket medical costs
• Retirement plans with lifetime monthly payments after five years of state service, plus options to save even more with 401(k) and 457 plans
• Paid vacation, holidays, and sick leave so you can recharge and take care of life outside work (that’s time off you’re actually paid for)
• Optional dental, vision, and life insurance—at rates much lower than most private plans
• Flexible spending accounts for added tax savings on health and dependent care
• Employee discounts on things like gym memberships, electronics, and entertainment

What This Job Offers

• Job Type: Part-time
• Career Level: Mid Level