BCBSM - River Park, FL
posted about 2 months ago
The Investment Accounting Manager at Blue Cross Blue Shield of Minnesota plays a crucial role in managing the financial reporting and accounting for the Investment and Treasury departments. This position is responsible for ensuring the accuracy of financial, management, and regulatory reporting specific to these areas. The role involves the implementation and execution of financial policies, procedures, and controls for all general ledger activities, including interfaces, journal entries, and other monthly financial reporting processes. The Investment Accounting Manager and their team report directly to the Vice President of Treasury & Chief Investment Officer, highlighting the importance of this role within the organization. In a typical day, the Investment Accounting Manager will oversee the proper recording of multiple interfaces and journal entries for related companies, market segments, and business units using SAP. This includes establishing appropriate accounting methodologies in accordance with Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles (STAT). The manager will direct, review, and distribute monthly financial statements and management reporting, providing accurate and relevant information for business decisions. This involves collaboration with various levels of corporate management, including subsidiaries, to interpret and analyze financial results and variances to budget and forecast, as well as assisting in developing budget and forecast projections. The role also requires managing and reviewing the preparation of numerous external regulatory filings, including those for the NAIC, BCBS Association, CMS, and the Department of Commerce. The Investment Accounting Manager will coordinate cross-departmental cooperation to ensure accuracy and timely filing, as well as liaise with external auditors for annual and interim audit work and support periodic regulatory audits. This includes directing and reviewing draft audited financial statements and audit work paper documentation. As a technical resource for investment and treasury accounting, the manager will provide leadership and recommendations for accounting strategies, proactively reviewing how to account for new initiatives and upcoming GAAP/STAT changes. The role also involves establishing and maintaining key relationships throughout the organization to obtain necessary information and provide financial data requests. Continuous enhancement and improvement of financial systems, processes, and reporting capabilities are also key responsibilities, along with managing the department, including hiring and training employees while promoting an inclusive environment that fosters diversity and team engagement.