Medicaid Financial Analyst

NTT DATA Services•Chicago, IL

1d•$70,144 - $145,000•Remote

About The Position

NTT DATA is seeking a Medicaid Financial Analyst to join and support the IL MES Planning and Assessment Project Management team. The Medicaid Financial Analyst will support the State of Illinois Department of Healthcare and Family Services (HFS) by providing analytical, financial management, and advisory services related to project budgeting, financial forecasting, and cost analysis. This role collaborates with stakeholders to ensure compliance with federal and state requirements while effectively managing financial documentation throughout the project lifecycle. The Financial Analyst will work closely with state client leadership, project teams, and federal partners (such as CMS) to facilitate business operations, funding requests, and financial reporting for Medicaid programs. The position is remote, with the possibility of up to 25% travel to the client location in Springfield, Illinois.

Requirements

Bachelor’s degree or higher from an accredited college or university in Finance, Accounting, Business Administration or a related field; or four years of additional relevant experience in lieu of a degree.
Minimum of 6 years’ experience in financial analysis, budgeting, and reporting, preferably within Medicaid or healthcare IT.
Minimum of 3 years’ experience as a financial analyst supporting Medicaid system implementation projects and/or Medicaid business operations.
Minimum 3 years of Proficiency in MS Office (Word, Excel, PowerPoint, Outlook), with advanced expertise in MS Excel for financial modeling and analysis.
minimum 2 years experience with cost-benefit analysis and financial tracking/reporting.
minimum 1 year reviewing financial deliverables and processes for quality and completeness.

Nice To Haves

Strong customer service and effective oral and written communication skills.
Ability to work independently or as part of a team, demonstrating professionalism in deliverables and client interactions.
Business Data Analytics Certificate, Cost Estimator/Analyst Certification, CPA License, or PMI Certified Associate in Project Management (CAPM) or Project Management Professional (PMP).
Bachelor’s degree in a related field.
Understanding of State Medicaid Manual, federal regulations, and financial compliance requirements.
Three or more years’ experience working collaboratively with CMS State Officer(s), State Budget/Fiscal Officer(s) and/or equivalent agencies.
Ability to communicate succinctly and accurately in written and verbal English.

Responsibilities

Develop and maintain project budgets, track expenditures and ensure alignment with financial goals and objectives.
Conduct financial analysis and reporting to support decision-making, including variance analysis and forecasting.
Collaborate with internal and external project teams and stakeholders to understand project scope, financial requirements, and business needs.
Support the development of funding requests and financial documentation for federal and state compliance.
Collect, review, and analyze financial data to assist in the development of Independent Government Cost Estimates (IGCEs), cost benefit analysis (CBA), and analysis of alternatives (AoA) for advance planning documents (APD) and state budgeting requests.
Prepare and present analytical reports, findings, and recommendations to support financial management throughout project(s) lifecycle.
Ensure that all financial work products and deliverables meet technical, documentation, and quality standards.
Participate in engagement with CMS and other federal/state agencies to ensure compliance with financial reporting requirements and foster collaborative working relationships.
Manage client relationships and expectations by serving as a point of contact for financial-related activities.
Provide recommendations on critical business and project financial decisions based on analytical insights.
Participate in meetings to communicate project financial status, risks, and issues to stakeholders, including the client and federal government.
Support continuous improvement of financial processes, personnel, and organizational systems related to budgeting and financial management.
Review financial deliverables and processes for quality and completeness, ensuring adherence to project-identified processes and methodologies.
Develop and submit financial reports as needed to the client and federal government.