Job Description :
JOB SUMMARY (Summarizes the major purpose and primary responsibilities)
This job is responsible for oversight of the financial operations of a business segment within the company and support of the direct operating expense oversight of the department. Appraises operating results in terms of costs, budgets, operational policies, trends and increased profit opportunities. Partners with segment and matrix partner leaders to drive achievement of current year and multi-year financial commitments.
ESSENTIAL RESPONSIBILITIES (Describes the critical tasks, duties and responsibilities of the position.)
- Performs management responsibilities to include, but are not limited to: involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity.
- Plans, organizes, staffs, directs and controls the day-to-day operations of the department; develops and implements policies and programs as necessary; may have budgetary responsibility and authority.
- Functions as a member of the team responsible for developing vision and strategy. Provides detailed guidance on the preparation of all financial components of the strategic plans across the business segment. Oversees communication of strategy and vision to management and staff and to representatives of the company.
- Accountable for activities required to maintain financial records, the preparation of financial statements, the preparation of Board of Director statements, and the preparation of statutory reports for submission to the Department of Insurance in various states.
- Leads the business segment department operating expense oversight, including maintenance of budget development processes and assessment of operating effectiveness with respect to current and multi-year financial performance targets.
- Oversees the detailed, multi-year earnings improvement initiatives under the direct and indirect control of the segment leadership, including measurable initiatives across all Profit & Loss (P&L) categories.
- Partners with actuarial functions, enabling effective product pricing, in-year claim analysis, and incurred but not recorded reserve decision making.
- Oversees compliance matters including product filings, resolution of regulatory issues, responses to regulatory inquires, for a variety of products and programs marketed across the United States. Provides counseling/advice with respect to regulatory developments in the external environment, product development issues, and the interpretation and administration of Commercial Markets products.
- Provides oversight of the business segments initiatives, ensuring that initiative business cases are thoroughly documented and that measurable success criteria are contemplated in current and multi-year budgets, projections, etc.
- Other duties as assigned or requested.
Bachelor's Degree- Finance, Accounting or other related field.
Substitutions (Acceptable substitutions in lieu of a degree 1 ½ years’ experience = 1 year college)
Business Administration, Finance, Accounting or other related field.
Minimum: This section refers to the minimum years and type of applicable experience needed to perform the job. Minimum requirements must be non-comparative, objective, and relevant.
- 7+ years' progressive management experience in finance or accounting.
Preferred: This section refers to additional desired years and type of experience that the hiring manager would prefer, above and beyond the basic requirements of the job.
- Healthcare payer sector experience.