Primary responsibilities include analyzing costs, preparing financial reports and providing recommendations to leadership for lines of business according to established policies, guidelines and methodologies. Prepare journal entries and analyses in conjunction with month end close process and meet monthly deadlines.
- Depending on specific area supported, duties may vary.
- Analyzes complex financial information and reports; provides accurate and timely financial recommendations to management for decision making purposes.
- Develops sophisticated financial models. Provides recommendations based upon evaluation of financial trends and forecasts.
- Evaluates and monitors the efficiency and performance of programs, ensuring program execution is on target.
- Manages dashboard reporting by tracking monthly, quarterly and annual revenue and expenses.
- Obtains a thorough understanding of operating infrastructure of Strategic Business Unit(s) (SBUs) operations to be able to proactively analyze and identify opportunities for cost savings and revenue enhancements.
- Regularly reviews historical operating results and proactively identifies and analyzes potential revenue enhancement and cost saving opportunities.
- Performs a variety of pro forma financial and operating analyses as requested to support proposals.
- Reviews and understands fluctuations across SBUs in delivering cost of care and variations in cost of care. Differentiates impact of rate versus utilization variations.
- Supports SBUs by providing information, responding to questions and resolving complex problems and issues.
- If supporting Medicare Part D, will be responsible for implementing CMS requirements related direct and indirect plan remuneration, plan to plan reconciliation, monthly membership reports, coverage gap discount program, medical loss ratio reporting, fiscal soundness reporting, audit assistance and analysis of drug utilization and other costs trends.
- Other special projects as assigned.
Other Job Requirements
Responsibilities
- Ability to understand and analyze complex data sets and frame it to actionable analysis.- Understanding of the financial structure and business practices of the managed care industry.- Strong PC skills are essential, with advanced skills in Excel and Hyperion Essbase or other large enterprise financial software.
General Job Information
Title
Financial Analyst - Baton Rouge, LA
Grade
23
Work Experience - Required
Finance
Work Experience - Preferred
Education - Required
Bachelor's - Accounting, Bachelor's - Finance
Education - Preferred
Master's
License and Certifications - Required
License and Certifications - Preferred
Salary Range
Salary Minimum:
$53,125
Salary Maximum:
$84,995
This information reflects the anticipated base salary range for this position based on current national data. Minimums and maximums may vary based on location. Actual pay will be adjusted based on an individual's skills, experience, education, and other job-related factors permitted by law.
This position may be eligible for short-term incentives as well as a comprehensive benefits package. Magellan offers a broad range of health, life, voluntary and other benefits and perks that enhance your physical, mental, emotional and financial wellbeing.
Magellan Health, Inc. is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled.
Every employee must understand, comply with and attest to the security responsibilities and security controls unique to their position; and comply with all applicable legal, regulatory, and contractual requirements and internal policies and procedures.
Top Skills
What We Do
Magellan Health is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators.
