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Resp & Qualifications
The Financial Reporting group is responsible for the Company’s audited year-end GAAP and STAT statements along with our quarterly/annual regulatory filings with the various insurance departments. In addition, Financial Reporting group is responsible for technical accounting research, preparing monthly financial statements, BSBSA reporting, investment accounting, quarterly finance committee board packages and quarterly disclosure committee packages.
Under the general supervision of the Manager of Financial Reporting, the incumbent's accountabilities include, but are not limited to, the following:
Duties and Responsibilities
Perform the monthly consolidation process and prepare the monthly financial statements including balance sheet, P&L and cash flow statements. Also responsible for preparing and peer reviewing various income statements, graphs, etc. on a product and market segment basis used in the internal financial statement distributions. Prepare and compile the quarterly finance committee package and supporting schedules.
Prepare and peer review Statutory accounting adjustments to convert GAAP ledger to a statutory basis for certain insurance companies. This would include preparing supporting documentation, analytical review to ascertain required statutory adjustments, and rolling forward statutory equity. Prepare and peer reviewing the primary statutory statements (i.e., balance sheet, P&L) for CareFirst’s larger affiliates and review the smaller affiliates’ statutory statements. Utilize knowledge statutory accounting principles (SSAP’s) to ensure financial results are presented accurately. Assist in implementation of any new regulatory pronouncements.
Prepare and peer review monthly GAAP investment accounting entries and the supporting account reconciliations for CareFirst’s large affiliates’ investment accounts. Entries include posting all cash transactions, bond/stock acquisitions and dispositions and the associated gains/losses, investment income, and bond amortization. Prepare journal entries for quarterly mark to market, convertibles and other-than-temporarily impaired investments. Prepare various ad hoc analysis and reports in support of analyzing Schedule D and investment reporting requirements. On a quarterly basis, responsible for preparing and peer reviewing all STAT investment accounting journal entries. Responsible for preparing and peer reviewing the year-end investment notes.
Prepare and peer review various exhibits, schedules and supplemental schedules of the annual and quarterly statutory financial statements (insurance blanks) including the investment schedules (Schedules BA, D, DA and E, etc.) and supplemental health care exhibits. Responsible for the preparation and submission of regulatory supplemental schedules to the state insurance departments. Prepare and peer review the annual risk-based capital (RBC) filing to NAIC and all reporting submissions to BCBSA (Mid-year RBC, Early Look, QFR, Liquidity, PSA, etc.)
Prepares financial statements to support the yearend audit and audited statements. Ensures the consolidation and elimination process is accurate by performing a quarterly equity roll forward. Prepare balance sheets analysis package for audit committee.
Prepare and peer review annual GAAP & STAT Notes to financial statements. Responsible for preparing pension/401k plans financial statements and notes to financial statements. Assist in researching moderately complex accounting issues. Attend quarterly Disclosure Committee meetings and coordinate with the documentation of questionnaire. Ensure that material financial information is disclosed. Prepare the disclosure committee package.
Provides support to less experienced financial reporting staff on how to prepare analyses and component reports which support the company's financial statements.
Required: Bachelor’s degree in Accounting and 4+ years of public accounting/5+ years of corporate financial experience. Good understanding of GAAP and Statutory accounting. CPA eligible.
Abilities/Skills: This position requires strong analytical skills, excellent communication skills (both written and verbal), strong PC and financial systems, strong problem solving skills, ability to work independently and as a team member, and ability to train team members.
Preferred: CPA preferred. Health insurance industry and public accounting experience preferred. Statutory and/or investment accounting knowledge preferred.
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.
Hire Range Disclaimer
Actual salary will be based on relevant job experience and work history.
Where To Apply
Please visit our website to apply: www.carefirst.com/careers
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.
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship
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