FEP Accountant

at Blue Cross Blue Shield Association in Chicago, Illinois, United States

Job Description

Job Description Summary

Perform technical and analytical processes in the area of accounting and reporting for the Federal Employee Program (FEP), and related Programs. Review and evaluate 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:
a) Perform daily financial accounting activities, including transaction preparation and review, and fund disbursements. b)Remit/approve adjustments and update adjustment reporting. c) Provide Plan and internal support for adjustments and Special Plan Invoice submission. d) Create daily Treasury Drawdown report. e) Process payments and distributions. f) Create documentation related to new processes and ensure that electronic versions are appropriately organized. g) Point of contact for other Program activities. h) Run processes to allocate expenses and identify any discrepancies/errors.

Research and compile information for department reports/analyses, including responses to audit requests and legal inquiries. Respond to Plan inquiries. Participate in collaboration with other departments, especially within the FEP Director's Office.

Assist in reviewing and evaluating month end processes to ensure efficiency in month-end close process via the Accounts Payable sub-system and the General Ledger system. Edit PeopleSoft queries/request system changes as needed to meet needs of process.

Provide back-up to other FEP Accountants. Monitor Plan financial performance and reports, and as necessary, recommend action plans to identify, track, and resolve Plan financial issues. Keep abreast of changes in the legislative, regulatory, and health care industry to assess impacts FEP and BCBSA financial strategies and programs. Work to adapt current financial reporting practices and systems to ensure adherence to required changes in US GAAP and/or Federal regulations, exercising judgment in determining the appropriate accounting treatment. Other special projects or specific processes, as required, including participating on cross-functional teams, in order to provide a financial perspective. Serve as a decision-support resource to FEP business owners, as well as BCBSA accounting staff. Responsibilities also include Plan interaction, customer service, and assurance that efficiency and quality standards are met.

Required Education, Certifications and Experience

Bachelor's degree in Accounting.

CPA required.

Minimum 3 years of accounting experience, including all aspects of the monthly close process, transaction processing and cash management.

2 years experience researching accounting issues, performing complex reconciliations, and understanding unique financial situations.

Excellent organizational skills to manage multiple priorities/projects under tight timeframes with a sense of urgency.

Demonstrated understanding of internal controls.

Knowledge or experience in the health insurance industry.

Proficiency in PeopleSoft preferred.

Strong communication skills.

Ability to understand complex accounting transactions, and to apply US GAAP and non-GAAP standards.

Must be able to clearly communicate (written and verbal) complex accounting issues to management, auditors and other staff.

Preferred Education, Certifications and Experience

Master's degree desired.

Proficiency in PeopleSoft preferred.

People Management No

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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.