Principal Cost Analyst

State of Connecticut•Hartford, CT

2d•Hybrid

About The Position

The State of Connecticut, Department of Social Services (DSS) is recruiting for an anticipated role as a Principal Cost Analyst for the Division of Health Services in the Reimbursement & CON Unit, located at 55 Farmington Avenue, Hartford, CT 06105. This is a full-time, 40 hours per week position on the first shift, Monday - Friday, with a flex schedule and hybrid work schedule available. The State of Connecticut offers professional growth, paid professional development opportunities, a healthy work-life balance, and is an eligible Public Service Loan Forgiveness employer. DSS delivers and funds a wide range of programs and services as Connecticut’s multi-faceted health and human services agency, serving about 1 million residents across all 169 cities and towns, supporting the basic needs of children, families, older and other adults, including persons with disabilities.

Requirements

Eight (8) years of experience in technical work in cost accounting or fiscal management.
Fiscal management is defined as professional accounting or auditing work with responsibility for the review and recommendation of financial policies and procedures of a business organization.
One (1) year of the General Experience must have been in an advanced professional capacity recommending cost funding policies in a medical, intergovernmental or quasi-public setting.
For state employees experience in an advanced professional capacity is interpreted at the level of an Associate Accountant.
Intergovernmental is defined as interactions between a state government and the federal government or within or between state government(s).
College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
A Master's degree in accounting, business administration or hospital administration may be substituted for one (1) additional year of the General Experience.
Certification as a Certified Public Accountant may be substituted for one (1) additional year of the General Experience.
Considerable knowledge of principles and practices of business administration
principles and techniques of health care budgeting, budget control and cost accounting
Knowledge of research techniques and statistical principles and procedures
Considerable interpersonal skills
oral and written communication skills
Considerable ability to interpret costing and reporting regulations
Ability to utilize computer software
Supervisory ability

Nice To Haves

Experience in evaluating complex real estate transactions and property ownership structures specifically those of investment entities or private equity investments into healthcare organizations.
Experience in distilling complex investment transactions into reports and recommends for policymakers regarding private equity firms ownership of Connecticut nursing homes.
Experience in conducting market research, investment analysis, lender investment analysis, and financial modeling.
Experience analyzing complex financial data and clearly and effectively conveying information both verbally and in writing, with strong active listening skills and the ability to draft regulations and statutes.

Responsibilities

Plans unit workflow and determines priorities
Schedules, assigns, oversees and reviews work
Establishes and maintains unit procedures
Provides staff training and assistance
Conducts or assists in conducting performance evaluations
Acts as liaison with operating units, agencies and outside officials regarding unit policies and procedures
May make recommendations on policies or standards
May prepare reports and correspondence
Independently performs highly complex cost, revenue and financial analysis functions
Coordinates budget preparation process and develops recommendations as to budgeted levels for various revenue and expense categories and line items
Reviews accounts and records for budgetary control of corporate expenses and revenues
Performs complete general ledger accounting in accordance with Generally Accepted Accounting Principles (GAAP)
Prepares periodic financial statements for various product groups and operating departments
Performs cost benefit and break-even analyses for lottery retailer incentive programs, marketing campaigns and consumer promotional programs
Makes recommendations regarding design and modification of incentive programs for entrepreneurial sales staff and monitors program results
Creates and applies meaningful expense and revenue allocation schemes using cost accounting principles
Provides financial, analytical and statistical feedback to assist in development of strategic sales and marketing plans
Analyzes prize liability and unclaimed prizes by game
Provides sales and cost analyses, using statistical methods, trends and curve extrapolations to assist management in formulation of corporate policy
Assists in compilation of financial data necessary for preparing detailed complex financial statements
Acts as liaison with operating units, other state lotteries and lottery associations
May lead staff as assigned
Monitors a team of accountants engaged in cost analysis work of determining per diem rates of reimbursement for Medicaid supported patients or carries out such responsibilities directly
Consults with and advises administrators of facilities in preparation and presentation of financial and cost finding reports
Analyzes and interprets cost reports and recommended reimbursement rates to administrators
Attends and participates in appeals hearings for purpose of performing continuous evaluation of cost trends by analyzing facility expenditures and/or adjustments of expenditures in terms of need, policies, financial objectives and legal requirements and recommends appropriate action
Monitors a team of accountants engaged in any of the following tasks or carries out such responsibilities directly: cost analysis work of determining per diem rates of reimbursement for children in residential placement, group homes and fee for service rates
Independently performs highly complex cost, revenue and financial analysis functions
Coordinates budget preparation process and develops recommendations as to budgeted levels for various revenue and expense categories and line items
Reviews accounts and records for budgetary control of expenses and revenues
Prepares periodic financial statements
Performs cost benefit and break-even analyses
Provides cost analyses using statistical methods, trends and extrapolations to assist management in formulation of financial and budgetary policy
Assists in compilation of financial data necessary for preparing detailed complex financial statements
Acts as liaison with operating units
Leads team of professional technical staff engaged in cost analysis work of determining rates of reimbursement for agency services
Analyzes and interprets cost reports and recommended reimbursement rates to administrators
Performs cost benefit and break-even analyses for agency initiatives
Provides financial, analytical and statistical feedback to assist in development of agency programs
Acts as liaison with operating units, other state agencies and private providers
Leads team of professional technical staff engaged in cost analysis work of determining rates of reimbursement for behavioral health services
Performs highly complex cost, revenue and fiscal analysis work in determining rates of reimbursement
Negotiates rates with providers
Consults with and advises agency facilities on financial and cost finding reports
Analyzes and interprets cost and revenue reports and recommends reimbursement rates
Provides financial, analytical and statistical information to assist in budgeting and rate setting
Using statistical methods, trends and forecast models provides information to management
Assists in development of highly complex financial reports
Coordinates budget preparation process and develops recommendation as to budgeted levels for various revenue and expense categories and facility fund levels
Reviews accounts and records for budgetary control of expenses and revenues
Prepares detailed complex financial statements
May attend and participate in appeals hearings
May act as a liaison with operating units
Monitors a team of accountants engaged in cost analysis, cost reporting or rate setting including preparation of cost allocation plans, determining reimbursement rates for fringe benefits on federal programs and preparing or advising on preparation and negotiation of indirect cost studies
Determines weekly per capita cost for patients in state institutions
Prepares Medicare cost reports or reviews and approves such cost reports for state hospitals
Coordinates Medicare reimbursement plans
Determines and negotiates interim Medicare billing rates and rates for Medicaid supported patients in state facilities
Maintains records
Performs continuing evaluation of cost trends, methods of cost determination and allocation, recommending action as required
Interprets constitutional and statutory provisions affecting state financial expenditures and revenues
Reviews accounts and records for budgetary control of state expenditures and revenues
Assists in compilation of financial data necessary for preparing detailed complex financial statements
Provides consultation to state agencies