Mgr, Financial Reporting

Summa Western Reserve Hospital-posted about 1 month ago
$50 - $75/Yr
Full-time • Mid Level
Hybrid • Akron, OH
5,001-10,000 employees
Hospitals
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As a regional, provider-owned health plan, SummaCare values the relationship between the members and their doctors. SummaCare is a part of Summa Health, an integrated healthcare delivery system that includes Summa Health System hospitals, its community-based health centers, dedicated clinicians and SummaCare. Based in Akron, Ohio, SummaCare provides Medicare Advantage, individual and family and commercial insurance plans. SummaCare has one of the highest rated Medicare Advantage plans in the state of Ohio, with a 4.5 out of 5-Star rating for 2025 by the Centers for Medicare and Medicaid Services (CMS). Known for its excellent customer service and personalized attention to members, SummaCare is committed to building lasting relationships. Employees can expect competitive pay and benefits. Summary: Responsible for the management of health plan financial reporting, including all elements of internal and external financial reporting, accounting, cash management and investments. Responsible for all accounting activities associated with the "core business", including but not limited to all aspects of premium and claims. Ensures that internal and external financial reporting needs are met in an accurate and timely fashion. Ensures financial reporting meets Generally Accepted Accounting Principles (GAAP), Statutory Accounting Principles (SAP), and all other financial regulatory filings with the Ohio department of Insurance, CMS, NAIC, etc. Ensures that processes and controls are designed and operating effectively in order to maintain the integrity, accuracy, and timeliness of assigned accounting and financial reporting activities. Works closely with the health plan CFO and Controller on financial decisions and presentations for Senior Management, Summa Health System leadership team, the Board of Directors and the Audit Committee.

  • Plans, prepares, implements and monitors area's operational and capital budgets to ensure sound fiscal management consistent with the goals of Summa Health System.
  • Manages productivity within department; minimum target is 100%; meets targets set in assigned area.
  • Manages performance and ensures 100% of all required performance appraisals are completed.
  • Ensures all staff members complete Mandatory Organizational Education (MOE) training annually.
  • Ensures all staff members adhere to established Service Excellence Standards.
  • Monitors and manages staffing, turnover and vacancy in assigned departments.
  • Ensures continued development and education of self and staff.
  • Ensures excellent open communications within the department through regular staff meetings, preparation and distribution of minutes, and other means to keep the department informed on a timely basis.
  • Recruits, hires, and oversees additional facility-based care management staff development and implementation of an orientation plan for new staff members, and provides timely feedback.
  • Identifies the direct and indirect customers served by assigned department, determining appropriate products and/or services based upon customers' needs, measuring customers satisfaction and developing actions that continually improve services.
  • Ensures staff and self follow Service Excellence Standards of Behavior, including standards for Appearance and Environment, Attitude and Courtesy, Communication, Teamwork, Customer Service, Confidentiality, Safety and Etiquette.
  • Plans and organizes all activities under his/her control is an effective manner. Prepares departmental tactical and strategic plans as well as designing appropriate organizational structures for areas of responsibility. Organizes and delegates work in an effective manner, establishes appropriate time frames for completion of work, and provides the necessary leadership to ensure effective work results.
  • Ensures that his/her department adopts a Total Quality Improvement approach to its work that includes employee empowerment, managing with data, a philosophy of continual improvement, a customer driven attitude and a work methodology that maximizes error prevention. Develops and maintains a complete quality monitoring system throughout their department.
  • Develops and maintains open, honest and mutually beneficial relationships with their manager, fellow managers, staff and the departments to which he/she provides service. Maintains relationships in a manner consistent with Summa's mission, values and philosophies
  • Ensures a work environment that promotes and embraces diversity. Works to support and strengthen Summa's service to the community.
  • Complies with regulatory and accreditation requirements through completion of Summa's mandatory organizational education, TJC, Code of Conduct and compliance training.
  • Responsible for adherence to applicable regulations in daily activities and work processes.
  • Oversees financial reporting, for six companies with annual revenue (premium equivalents) of approximately a half a billion dollars, to ensure timely and accurate reporting of financial results to the CFO, Controller, Senior Management, Summa Health System leadership team, the Board of Directors, federal/state/local regulatory agencies, and other external users.
  • Ensures that financial reporting is in conformity with Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles (SAP).
  • Manages and reviews preparation of monthly balance sheets, statement of income, statement of change in equity and statements of cash flow and all supplemental pages and schedules to financial statements for all companies.
  • Reviews trial balance accounts to ensure account reconciliations and supporting schedules are up to date.
  • Oversees and reviews preparation and filing of all regulatory reports with various state and federal agencies including the NAIC, ODI, and CMS.
  • Manages the timely and accurate preparation of workpapers and supporting schedules for internal and external audits.
  • Guides and reviews the preparation of all corporate tax work papers and timely submission to EY, RSM and Summa Health System.
  • Oversees and reviews material judgements and estimates including but not limited to: 1) calculation of and recording of claims liability / IBNR estimates using the claims lag model, 2) accrued risk adjusted revenues, 3) premium deficiency reserves, and 4) tax positions.
  • Manages all aspects of the Company's banking and investing activities.
  • Responsible for processes and internal controls for assigned areas of responsibility are designed and operating effectively to ensure accuracy and timeliness. Analytical mindset identifies results that may be concerning and works proactively with the team to ensure accuracy. Performs all job functions with integrity and maintains a strong "tone at the top".
  • Provides timely internal and external customer service in cooperative, professional, and respectful manner.
  • Bachelor's Degree in accounting or other related field.
  • Five (5) years of experience to include: management of Accounting department, financial reporting, auditing, cash management, fiduciary activities, and supervision of staff.
  • Basic Life and Accidental Death & Dismemberment (AD&D)
  • Supplemental Life and AD&D
  • Dependent Life Insurance
  • Short-Term and Long-Term Disability
  • Accident Insurance, Hospital Indemnity, and Critical Illness
  • Retirement Savings Plan
  • Flexible Spending Accounts - Healthcare and Dependent Care
  • Employee Assistance Program (EAP)
  • Identity Theft Protection
  • Pet Insurance
  • Education Assistance
  • Daily Pay
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