Highmark Health - Springfield, IL
posted 5 months ago
This position is responsible for overseeing the financial operations, direct operating expenses, and growth-related finance needs of the Government Segment Finance & Growth at Highmark Inc. The role involves appraising operating results in terms of costs, budgets, operational policies, trends, and identifying increased profit opportunities. The incumbent will partner with segment and matrix partner leaders to drive the achievement of current year and multi-year financial commitments. A key aspect of this role is to build economic models and supporting processes related to government segment growth initiatives, which include new market entry, partnerships, and inorganic growth. The position requires collaboration with senior leadership to identify the impact of these initiatives. The essential responsibilities include performing management duties such as hiring and termination decisions, coaching and development, rewards and recognition, performance management, and staff productivity. The individual will plan, organize, staff, direct, and control the day-to-day operations of the department, developing and implementing necessary policies and programs, and may have budgetary responsibility and authority. The role also involves directing growth-related economic models for the Government Segment and communicating the results of strategic impact analyses to senior management. This includes scenario modeling and other integrated economic exercises that arise around potential changes in reimbursement rates, member volumes, or other financial metrics associated with strategic initiatives and the financial plan. The incumbent will coordinate the completion of strategic scenarios, analyze results, suggest alternative approaches, and present findings to varying levels of senior management for approval. Additionally, the position functions as a member of the team responsible for developing vision and strategy, providing detailed guidance on the preparation of all financial components of the strategic plans across the business segment. The individual will oversee communication of strategy and vision to management and staff and to representatives of the company. They will also be responsible for developing repeatable and standardized financial processes for assessing, decisioning, and implementing segment growth opportunities, including the development of a growth playbook and oversight of the financial components of the implementation of growth opportunities. The incumbent will lead the business segment department's operating expense oversight, including maintenance of budget development processes and assessment of operating effectiveness with respect to current and multi-year financial performance targets. They will provide oversight of the business segment's initiatives, ensuring that initiative business cases are thoroughly documented and that measurable success criteria are contemplated in current and multi-year budgets and projections. Furthermore, the role includes overseeing detailed, multi-year earnings improvement initiatives under the direct and indirect control of the segment leadership, including measurable initiatives across all Profit & Loss (P&L) categories. The position also requires partnering with actuarial functions to enable effective product pricing, in-year claim analysis, and incurred but not recorded reserve decision-making. Compliance matters, including product filings, resolution of regulatory issues, and responses to regulatory inquiries for various products and programs marketed across the United States, will also fall under the incumbent's responsibilities. The individual will prepare and present financial (business case) analysis of government segment initiatives to senior management for use in the strategic planning process and daily management of the business activities of the segment. This involves working with business owners to obtain necessary data for analysis of expenditures, cash flows, and return and risk associated with each initiative, as well as preparing postmortem analysis on launched initiatives to evaluate performance in partnership with Treasury and related business units.