at Blue Cross Blue Shield Association in Chicago, Illinois, United States
Job Description
Job Description Summary
The Sr FEP Accountant role will be accountable for a broad range of accounting support as necessary to ensure the delivery of accurate and timely financial services to the Federal Employee Program (FEP), BCBSA leadership and member Plans. Financial services include: 1) facilitating the completion of audit engagements for the purpose of presenting audited financial statements to FEP, OPM, administrators and applicable regulatory agencies 2) accurate and timely recording and reporting of periodic financial results 3) aggregation, analysis and presentation of financial data 4) additional services as needed to meet evolving business needs. This role performs advanced technical and analytical processes in the area of accounting and cash management for the BCBSA Federal Employee Program. Subject matter expert (SME) to other accounting staff relative to complex transaction processing and financial reporting. Reviews and evaluates procedures to ensure efficiency in month-end close process, and interface between the sub-systems and the general ledger.
Responsibilities include but are not limited to:
Policy and Internal Control and Contract Compliance -
Supports daily management of all daily operational accounting and reporting functions of the BCBSA Federal Employee Program.
Contributes to oversight and adherence to financial policies, procedures and practices to ensure adequate internal controls for the safeguarding of the FEP and affiliated entity assets. Verifies accuracy of information and ensures that records are in compliance with appropriate standards and regulations. Contributes to sound overall management decisions and business practices.
Serves as primary contact to resolve variances related to inter-company liabilities and receivables (Benefits Payable). Partner with Plan Finance staff and management to review and assess complex accounting situations and to bring resolution to related issues. Provide guidance to Plans on proper treatment of FEP accounting transactions. Coordinate and lead Plan meetins to train new Plan staff and to work with the respective accounting teams to understand and address issues. Document and understand Plan financial processes to facilitate overall understanding. Regularly communicate Plan issues and progress to management. Complete Benefits Payable GL account reconciliation on a timely basis.
Ensures accounting policies, procedures and methods are consistent with current accounting pronouncements (GAAP), Government Cost Accounting Standards (CAS) or approved contract accounting practices and requirements.
Contributes to the maintenance of effective system of internal controls, including the development of financial policies and procedures and maintenance of account reconciliations.
Evaluates and responds to questions and issues regarding compliance with established accounting policies and procedures to ensure that internal customers comply with the policies and procedures, and make recommendations for increasing compliance.
Serve as backup for the daily processing of FEP financial transactional data (daily claims, Plan invoices, other adjustments, etc.).
Financial Reporting -
Contributes to management of monthly close processes and produces Fiscal Accounting Statements & Annual Accounting Statements (AAS) for FEP. Prepares and/or oversees the preparation of monthly interim financial reports including budgets and financial forecasts, review and approves all monthly reconciliations and journal entries.
Plans and performs day-to-day FEP reporting tasks to include timely and accurate journal postings, as well as evaluating and ensuring the application of appropriate accounting treatment. Responsible for all monthly close activities, including journal entries and documentation of anomalies and/or specialized accounting situations and preparation of detailed account reconciliations, as well as complex reports and analyses.
Assists manager in compiling Annual and Fiscal financial packages, including support schedules and footnotes. Complies with ad-hoc requests to analyze financial results, data, and other information based on business requirements, to ensure appropriate information is captured, available and understandable to management, auditors or other users. Communicates with Plans as needed to gather or share pertinent financial information.
Financial Analysis -
Determines and recommends necessary financial actions for the various programs based on financial analysis and/or research of various activities, operating results, business problems, and/or technical... For full info follow application link.
Blue Cross Blue Shield Association is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, national origin, age, gender identity, disability, veteran status, genetic information or any other legally protected characteristics.
