BMC HealthNet Plan Looking for Assistant Controller at Remote Full Time

The Assistant Controller is responsible for the overall coordination of the Plan’s accounting and reporting activities in compliance with Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles and helps develop accounting strategy. The Assistant Controller also is responsible for the set up and maintenance of the Plan’s general ledger as well as maintaining reporting templates. Ensures financial policies and procedures are carried out in support of the Plan’s strategic objectives. Ensures compliance with GAAP and Statutory requirements for internal control and external reporting purposes.

Key Functions/Responsibilities:

Accounting & Financial Reporting

• Prepares and consolidates financial statements
• Establishes and maintains internal controls
• Manages all aspects of the general ledger
• Researches accounting issues for compliance with generally accepted accounting principles and statutory accounting principles
• Supervises the preparation of monthly journal entries
• Helps maintain accountability of the financial resources of the Plan
• Assists VP Finance with a variety of tasks as needed
• Reviews monthly close process to prevent errors
• Handles special projects as requested by management
• Leads accounting operations, controls General Ledger processes, and reviews all account reconciliations
• Monitors bank activity and reviews monthly cash reconciliations
• Oversees preparation and production of monthly and annual Financial Statements including journal entries and supporting work papers for both GAAP and STAT closes
• Responsible for Investment Accounting functions, interacts with FIS Account Manager, and maintains investment accounting at the level of detail necessary to appropriately state investment bonds and stock balances, realized gain/losses, unrealized gains and losses as well as investment income.
• Participates in preparation of annual budgets and monthly budget to actual variance analyses
• Maintains control over tax and property insurance issues and inquiries
• Responsible for completion of quarterly and annual NAIC reporting systems and support workpapers
• Incorporate insurance related entries, specifically quality reclassifications, into the monthly close process
• Coordinates with the Health System Accounting Dept as needed

Financial Audits

• Helps and manages the preparation of the year-end audit GAAP audits and statutory audits
• Oversees preparation and delivery of all audit work papers; coordinates communication of other functional areas of the Plan within audit team.
• Works with VP Finance, as needed, on preparation of Audited Financial Statements and related disclosures.
• Coordinates resources with compliance, legal, human resources, and operational areas to meet accurate and timely filing requirements of internal staff, affiliates and regulators

Regulatory Reporting

• Prepares validation analysis for claims-related balance sheet accounts for quarterly and annual filings.
• Performs NAIC rating analyses of investment portfolio for quarterly and annual regulatory filings.
• Responsible for preparation of quarterly and annual statement NAIC blanks as well as supplemental reporting required for 4/1 filings as well as supporting Actuarial team with information needed for medical loss ratio filings.
• Contributes and/ or prepares Regulatory Filings to:
• Division of Insurance (MA)
• Insurance Department (NH)
• MassHealth
• NAIC
• Division of Health Care Finance (MA)
• Department of Health and Human Services (NH)

Cash Management

• Works with VP Finance and Treasury Dept with parent company to review cash balances and borrow funds as needed

Compliance

• Ensures accounting and accounts payable controls comply with SOC1 and Model Audit Rule (MAR) requirements
• Provides annual updates to internal control matrixes related to Accounting
• Works with internal auditor on preparing annual documentation for annual SOC1 and MAR attestations
• Monitors Risk-based capital ratio monthly
• Monitors Current Ratio monthly

Cost Controllership

• Provide ad hoc finance support to Chiefs and departments as needed
• Serve as back up to the VP Finance and Corporate Controller

General Business Support

• Regular and reliable attendance is of the essence to perform the job
• Coordinates additional external resources needed in peak periods
• Works with BMC IT and Accounting on process improvements and resolving critical issues
• Responsible for staff hiring, work allocation and scheduling; training and professional development and performance management of accounting staff
• Provides back-up for accounting staff and Director of Accounting and Reg. Reporting during their scheduled and unscheduled absences
• Supervises 2-4 staff

Qualifications:

Education:

• Bachelor’s Degree in Accounting
• Master’s Degree in a related field preferred

Experience:

• 3-6 years of working at a health insurance carrier
• GAAP and Statutory accounting technical expertise
• Demonstrated application of ethical business and finance practices
• Understanding of governmental regulations and reporting requirements
• Thorough knowledge of financial and accounting practices and procedures
• Experience in healthcare or managed care preferred

Required Skills

Required Experience