Sr. Analyst, FP&A

CVS Health

7d

About The Position

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. Position Summary This role will function as key collaborator with the Sr Manager, plan CFO and other departments in the local market in order to achieve plan financial results. This employee will ensure that all financial reporting, internal or external, are accurately reported and maintain financial and operational control of the business. Collaborate with constituent areas including Actuarial, Network, Central Accounting, Finance Central Reporting and Informatics for analysis purposes on financials and strategic business opportunities proposed throughout the plan.

Requirements

• Bachelor Degree
• 3 to 5 years Prior Relevant Work Experience
• Knowledge of: Healthcare, managed care insurance or financial services
• Financial planning and analysis; Accounting principles
• Medicaid products and financial drivers
• P&L ownership and key financial metrics
• Skill In: Financial management experience including business planning, accounting and financial analysis.
• Collaboration with functional areas to drive results
• SQL
• Ability To: Influence people across the enterprise
• Resolve problems and influence decisions on customer issues
• Present to internal and external customers
• Regular and reliable attendance
• Additional tasks as directed by manager

Nice To Haves

• Other License(s): CPA
• Knowledge of: · Health Insurance industry, preferably in Medicaid
• Skill in: MBA, CPA, FSA or equivalent is helpful but not required
• Project management and process improvement skills preferred
• Ability To: Project management and process improvement skills preferred

Responsibilities

• Prepare all OP, home health, CCSHCN and organ acquisition settlements on an annual basis (approximately 75 settlements). This requires oversight of the monthly paid claims listing submissions to the state, obtaining the annual cost report from each entity, preparing the calculations for review by the plan finance leadership, distributing to each entity for review, obtaining sign off from each entity once the calculations are agreed upon, distribution of payment to each entity and once payment is received or paid, ensuring the claims are marked as settled in QNXT (with attribute, the claim cannot be adjusted further). Above description accounts for a smooth settlement calculation, not any issues that might need to be resolved along the way.
• Collaborate with Finance Central Reporting on Medicaid Finance state reporting requirements, including but not limited to: reporting used by the state for lock in program evaluation, capitation payments and RFI adhoc requests. The state reporting requirements are outlined per our contract with the state. This requires an understanding of the state report and the ability to analyze the data for accuracy prior to submission.
• Finance contributions to monthly reserves or other analytic reporting – reconciliation of invoices/claims paid to data housed in plan audit tables
• Prepare all off lag accrual inputs for the Central Accounting team (P4Q, shared savings, capitation, settlements (OP, home health, CCSHCN, organ acquisition, vision risk corridor, etc). Once the financial statements are complete, prepare the off lag information needed for restatement analysis and ensure it ties out once prepared by Finance Central Reporting.
• Monthly premium reconciliation – prepare the reconciliation for sign off; review the detail records to determine what needs enrollment updates, requires discussion with the state for potential system changes or needs further research by the plan Finance team to determine next steps. Overall, ensure all premium dollars are received as anticipated.
• Prepare the monthly lock in payments for network providers, as applicable.
• Prepare quarterly NAIC benchmark reporting (comparison to competitors)

Benefits

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.

What This Job Offers

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