Operational Accounting & Management Director

CareFirst BlueCross BlueShield   •  

Owings Mills, MD

Industry: Finance & Insurance


11 - 15 years

Posted 71 days ago

This job is no longer available.


This position is directly responsible for the Operational Accounting departments including Accounts Payable and Payroll as well as Management Accounting departments including Cost Accounting and Budget & Expense Management.


Directs the Company's Payroll function ensuring that all transactions are completed in a timely and accurate manner and the presentation adheres to GAAP and STAT industry standards. Ensure all associated supporting documentation is current, accurate and complete.

Directs the Company's Accounts Payable function ensuring that all transactions are completed in a timely and accurate manner and the presentation adheres to GAAP and STAT industry standards. Ensure all associated supporting documentation is current, accurate and complete.

Directs the annual corporate budget process and monthly administrative expense analysis for CareFirst, Inc. Responsible for the data integrity, analysis and budgeting of administrative expenses and capital expenditures.

This role is accountable for directing the preparation of the annual budget; leading the development of budgeting tools/strategies for the executive management decision process; forecasting the course of spending; monitoring monthly expenses for significant variances, risks, and opportunities; and providing support and direction to all levels of management (including the CEO and Board of Directors) on administrative expense issues, including special projects as requested.

Directs Cost Accounting staff in the performance of allocating administrative costs, ensuring adherence with various rgulations including Federal Acquisition Regulations, Blue Cross and Blue Shield Association requirements, guidelines and bulletins, IRS Regulations, and accounting principles. Manages and maintains control over highly sensitive information in a confidential manner. Reviews cost data and correspondence for internal consistency and conformance with corporate policies.

Contributes to the development of accounting policies related to GAAP and STAT technical accounting issues. Also contributes to the preparation of financial reporting including: presentations to executive management and the Board of Directors; the issuance of the audited GAAP and STAT year-end statements; BCBSA monthly and quarterly financial and enrollment reports; and other sources that require documentation about CareFirst business activities and related indicators.

Assists with formulating and administering the monthly financial close and internal reporting process, continually assessing opportunities for efficiencies in the process. The position requires knowledge of the fundamental doctrines, theories, principles and terminology of cost and financial accounting and federal government contracting performed within the organization.

This role provides a controlled financial framework for all entities of the CareFirst BlueCross BlueShield organization. This control aspect is a critical step towards the accumulation of the organization's GAAP and STAT financial information.

ESSENTIAL DUTIES AND RESPONSIBILITIES may include, but are not limited to, the following:

1. Oversee the management of the Company's Payroll and Accounts Payable functions ensuring that all transactions and associated documentation is current, accurate, and that the presentation adheres to GAAP and STAT industry standards, produced in a timely manner.

2. Responsible for the cost allocation process and assumptions.

3. Oversee the annual budget process for corporate administrative expense functions.

4. Act as liaison with external auditors, external insurance department examiners and internal audit staff. Assist with preparation and presentation to Board of Directors—Audit Committee concerning financial and control issues.

5. Manage fixed asset accounting, including corporate initiative accounting.

6. Maintains appropriate internal controls and safeguards ensuring a strong internal control environment


  • Direct reports: 3
  • Indirect reports: 40 full-time associates
  • Projected Budget: $5,500,000


This position requires a Bachelor's degree in accounting , finance, or business and a minimum of 10 years of progressively responsible financial and managerial experience, preferably in a health insurance oriented organization. Incumbent must have demonstrated expertise in accounting and financial operations, and a highly developed understanding of financial reporting rules and regulations for CareFirst.

This position requires a high degree of interpersonal skills, and incumbent must be able to effectively manage and cultivate development of staff. The incumbent must posses excellent written and oral communication skills to explain the results of operations and related disclosures to a diverse audience. Incumbent must be analytical and able to identify problem issues quickly, and must have knowledge of PC and mainframe based applications. Position requires extreme flexibility in meeting deadlines, and a team oriented perspective.