CareFirst Careers

Cost Accounting Manager

Resp & Qualifications

Responsibilities:

Manages a group of professional cost accounting personnel by providing technical guidance, expertise and assistance for work performed in the Accounting Operations Department.  Manages the staff and oversees the activities of the Enterprise Cost Accounting group. Plans, directs and coordinates, usually through subordinate supervisory and team lead staff, Cost Allocation activities and monthly and year-end financial closes.  This position coordinates and directs the preparation, production and analysis of administrative cost information which is meaningful and valuable to Plan Management and external sources.  Assures operating cost identification and allocation integrity to support actual to budget/plan performance, management decision making and internal and external reporting, which ensures the financial health of the corporation.  The position requires an extensive knowledge of the fundamental doctrines, theories, principles and terminology of cost and financial accounting and federal government contracting performed within the organization. Position must possess an exceptional understanding of commercial and government cost accounting practices. Position also requires a solid understanding of auditing standards and how to deal with and manage audits.

 

Under the general direction of the Director, Operational and Management Accounting, the incumbent’s accountabilities include, arranging and overseeing the completion of all work assignments through management direction and accountability assuring efficiency of operations, effective administration and quality service delivery. Determines own function’s or team’s priorities based on Department goals and on overall organizational objectives and may deviate from established procedures and practices if end results meet performance objectives and established goals. Directs own functional accounting area while working closely with other finance management peers to increase effectiveness between and among both related and diverse areas. Position performs a wide range of highly responsible and difficult to unique and/or complex Financial Accounting activities related to Cost Accounting, General Accounting and Federal Government contracting. Essential and other important responsibilities and duties may include, but are not limited to, the following:

  1. Managing Cost Accounting staff in performing Cost Allocation functions, inclusive of the following: developing Cost Allocation methodologies and formulas; providing guidance to Accounts Payable and Expense Management areas related to invoice, journal entries, etc. types of transaction coding relevant to cost allocations, when necessary; allocating operating administrative cost data - labor and expenditures to benefiting market segments; preparing/importing cost allocation statistical data; developing appropriate expense allocation methodologies; interacting with and supporting various automated financial systems (Cost Accounting, General Ledger and Accounts Payable); reconciling administrative cost and statistical data interfaced from feeder systems – Membership, Claims, Inquiry Analysis, Revenue and Work Effort Collection Time Reporting; coordinating internal and external administrative cost audit reviews; working with various personal computer applications; and maintaining documents corresponding with record retention requirements
  2. Communicates with corporate decision makers, internal customers, Corporate Audit Department, other BCBS Plans, outside agencies and organizations, such as consultants, vendors, auditors, State/DC Insurance Administration, the FEP Director’s Office, and BCBSA on matters pertaining to assigned areas of responsibility. Participates on technical workgroup panels facilitated by the FEP Director’s Office on cost accounting matters and sponsored by the Sherlock Company on Health Plan Administrative Expense Benchmarking Services. Negotiates and defends the corporations’ position with the FEP Director’s Office and the United States Office of Personnel Management (OPM)/Office of the Inspector General (OIG) for full FEP cost reimbursement when audit issues are in dispute.
  3. Maintains awareness, interprets, educates and plans for changes in: accounting practices and theories; National Association of Insurance Commissioners (NAIC) Regulatory Accounting Reporting Requirements; Federal Government Contracting Regulations – Federal Acquisition Regulations (FAR), Federal Employee Health Benefit Acquisition Regulations (FEHBAR) and Cost Accounting Standards (CAS), when applicable;  Patient Protection and Affordable Care Act (PPACA) Medical Loss Ratio (MLR) Tracking and Reporting Requirements; the reorganization of the corporate structure of the business/entities; and for changes resulting from the impact of other external influences and special and emerging issues (i.e. mergers and acquisitions, DC/State regulatory matters, new product acquisitions), and recommends/implements appropriate action. Engages in research as to the effect of proposed changes and the cost accounting treatment of various regulations.
  4. Establishes and maintains accounting practices to ensure accurate and reliable data necessary for business operations. Reviews cost data, outgoing materials and correspondence for internal consistency and conformance with corporate and department policies; Federal Acquisition Regulations; Blue Cross and Blue Shield Association requirements, guidelines and bulletins; NAIC Standards; PPACA Requirements; accounting and auditing principles; and work procedures. Manages and maintains control over highly sensitive information in a confidential manner.
  5. Performs analysis required to support cost accounting results released to internal and external sources. Manages the preparation of cost accounting/financial analyses and subsequent release to all levels of management in support of the corporate strategic decision-making process. Communicates findings through written and oral presentations to appropriate parties. Direct analysis and research in response to other special projects and ad hoc requests relevant to or in resolution of issues assuring administrative cost data integrity and actual cost versus budget/plan results.
  6. Manages and is responsible for the development and/or coordination of new or revised Cost Accounting Systems, development and maintenance of functional specifications and documentation necessary for the proper use of accounting software packages and evaluation of accounting software packages and recommendations for possible applications use. Responsible for user support of accounting system upgrades and new releases. Manages and is accountable for developing specifications/business requirements and testing   for new applications to obtain statistics or for modifications made to existing statistical data feeds – membership, claims, inquiries, time reporting, etc. used in the cost allocation process.
  7. Manages Cost Accounting staff, providing direction, support and feedback consistent with HR and Financial policies and practices and accounting rules and regulations in order to complete work assignments effectively, efficiently, at a high productivity and quality level and in a timely manner.  Plans, initiates, defines, executes, organizes and controls activities of the Cost Accounting area including preparing annual operating budget and business plan and establishing goals and performance standards. Monitors Cost Accounting Department expenditures to ensure budget adherence.
  8. Interviews and hires selected applicants for positions.  Responsible for the training and development of new associates and provides technical guidance and assistance. Develops policies and works with staff to prepare procedure manuals and documentation for Cost Accounting.
  9. Applies team-building strategies in putting together an effective staff and enhancing business performance. Ensures staff performs their work in an ethical and honest manner in compliance with the corporation’s code of conduct policy. Completes performance, salary and promotion reviews for staff, and communicates results of reviews and associate incentive compensation goals. Administers performance evaluation management process in order to motivate and retain staff and for enhancing job enrichment. Assists associates in addressing career planning and opportunities.  Prepares for, manages, and administers changes in “corporate culture” and other ongoing corporate initiatives so that associates understand and support them. Completes job descriptions and provides associate recognition.

Quality assurance process validates and ensures that:

  1. operating cost are accurately allocated, thereby reducing the likelihood that profit and loss information by market/product segment will be misstated;
  2. correct cost allocations and management information will lead to informed business/management decisions and rating and pricing determinations;
  3. FEP related activities and expenditures are properly cost allocated and reported to FEP (FEP Director's Office and OPM) according to FAR, FEHBAR, CAS and other requirements.;
  4. the risk of audit findings and liabilities (disallowed costs) of non-government compliance will be reduced/minimized;
  5. the potential of the government filing a Civil False Claims Act Suit (for which penalties, interest or criminal actions may be taken) will be eliminated;
  6. the FEP Budget preparation will be based on accurate cost data to optimize reimbursement for administrative expenses; and the scrutiny of administrative costs by the public, Congress and /or other government entities related to the charging practices of health care contractors will reveal no findings.

 

Supervisory Responsibility

Manage, coach, mentor, and supervise a staff of 9 accounting professionals on projects and assignments. This position has 5 direct reports and 4 indirect reports. Management role includes delegating authority and work and project assignments, provide training and entrusting responsibility to supervisor and key staff personnel as appropriate. Prepare and deliver associate performance evaluations and provide coaching to associates.

Qualifications

Required:  Bachelor's Degree in Accounting, Business Administration or related business field, or equivalent technical training and 8 to 10 years of demonstrated progressive work experience in Cost Accounting and FEP Government contracting knowledge.

Abilities/Skills:  Position requires expertise in Accounting-Cost and Financial.  Excellent planning, organizational, management and communication skills (both written and verbal). Exceptional analytical, and problem recognition and resolution skills.  Strong negotiation skills. Ability to work both independently and as a team member. Able to deal effectively with associates at all levels of the corporation. Requires adaptability/flexibility to lead multiple projects and meet deadlines in a fast paced/rapidly changing environment.  Strong customer focused orientation.  Must be professional in demeanor and appearance. Previous Supervisory experience. Solid PC and host computer system skills.

Preferred:  CPA licensure and/or MBA are a plus.  Knowledge of BCBS Plan System health insurance operations and financial accounting a plus. Healthcare insurance industry experience



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Department

Department: Allocation Development Unit

Equal Employment Opportunity

CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer.  It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

Where To Apply

Please visit our website to apply: www.carefirst.com/careers

Closing Date

Please apply before: 11/03/2019

Federal Disc/Physical Demand

Note:  The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an associate to perform the essential duties and responsibilities of the position successfully.  Requirements may be modified to accommodate individuals with disabilities.

The associate is basically seated while performing the responsibilities and duties of the position. Frequent walking or standing is required.  The hands are regularly used to write, type, key, data enter and handle or feel small controls and objects. The associate must frequently talk and hear. Weights of up to 60 pounds are occasionally lifted.

Sponsorship in US

Must be eligible to work in the U.S. without Sponsorship

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