California Physicians' Service - Los Angeles, CA

posted about 2 months ago

Full-time - Mid Level
Los Angeles, CA
Insurance Carriers and Related Activities

About the position

The Senior Financial Analyst will play a crucial role in the Specialty Benefits division, which encompasses Dental, Vision, and Life products, serving over 800,000 members and generating more than $25 million in annual revenue. Reporting directly to the Senior Manager of Finance Analytics, this position is responsible for a variety of financial tasks that are essential for the accurate reporting and forecasting of membership data. The analyst will be tasked with monthly membership close deliverables, which include detailed analysis, reporting, and summarizing of membership data to ensure that all financial information is accurate and up-to-date. In this role, the Senior Financial Analyst will be expected to build and maintain multiple databases that will facilitate the production of both monthly and ad hoc reports. Collaboration with key stakeholders such as actuarial, accounting, underwriting, enterprise finance, and sales will be a significant part of the job, as the analyst will work to identify opportunities for improving financial and membership performance. This position requires a proactive approach to monitoring and analyzing monthly membership and financial data, ensuring accuracy, and addressing any discrepancies that may arise. The analyst will also be responsible for performing quarterly financial and membership forecasts, as well as long-term projections for the financial performance of the business. Responding to customer inquiries—both internal and external—will be a key responsibility, requiring timely and accurate information. The role will involve creating, maintaining, and manipulating various databases to develop meaningful tools for data analysis, identifying business process opportunities, testing solutions, and revising procedures as necessary. Additionally, the Senior Financial Analyst will summarize and present complex financial information to leadership, evaluate data, develop financial models, and conduct scenario analyses to forecast balance sheet, cash flow, and regulatory capital. Ensuring compliance with accounting standards and company policies will also be a critical aspect of this role, including conducting audits and reviewing internal controls.

Responsibilities

  • Review, monitor and analyze monthly membership and financials to ensure accuracy and correct any issues with data.
  • Compare results versus target, plan, and forecast.
  • Perform quarterly financial and membership forecasts as well as projections for long-term financial performance of the business.
  • Research and respond to customer (internal and external) inquiries in a timely and accurate manner.
  • Create, maintain, and manipulate various databases to create meaningful tools for data analysis.
  • Identify business process opportunities, test solutions, and revise desk-level procedures to reflect changes.
  • Identify opportunities to automate/digitize processes.
  • Summarize and present complex financial information to leadership.
  • Summarize detailed revenue and expense data and compare summarized claim data against fee schedules and contracts.
  • Collect and evaluate data, develop and maintain financial models, analyze results and conduct scenario analyses to forecast balance sheet, cash flow, and regulatory capital.
  • Follow and conduct audit processes and review internal controls to ensure financial transactions are accurate, timely, and comply with accounting standards, principles, and company policy.
  • Provide policy guidance and interpretation to ensure financial records are consistent and comply with company policies and GAAP.

Requirements

  • Bachelor's degree in Finance, Accounting, or a related field.
  • 5+ years of experience in financial analysis or a related field.
  • Strong analytical skills with the ability to interpret complex data sets.
  • Proficiency in financial modeling and forecasting techniques.
  • Experience with database management and reporting tools.
  • Excellent communication skills, both written and verbal.
  • Ability to work collaboratively with cross-functional teams.

Nice-to-haves

  • Experience in the healthcare or insurance industry.
  • Familiarity with GAAP and financial compliance standards.
  • Advanced Excel skills, including pivot tables and complex formulas.
  • Knowledge of data visualization tools such as Tableau or Power BI.

Benefits

  • Health insurance coverage
  • Dental insurance coverage
  • Vision insurance coverage
  • 401(k) retirement savings plan
  • Paid time off and holidays
  • Professional development opportunities
  • Flexible work schedule options
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