Controller

1 month ago


Orono, United States Community Health Options Full time

Position Summary:
Develops and implements accounting policies, controls and reporting procedures as well as directs and manages the day-to-day financial activities and manages the accounting and financial reporting and budget functions. Additionally, the position oversees accounts receivable, accounts payable, treasury, tax, and audit.
Primary Duties and Responsibilities:

  • Oversees the preparation of all financial statements, financial reports, tax returns and reports for regulatory agencies, including CCIIO, Bureau of Insurance, and IRS.
  • Reviews monthly accounting close process including analytical review of the monthly operating results to ensure accurate accounting records are maintained.
  • Assists with the preparation of Finance Committee and Board of Directors' materials. Reviews financial results with internal stakeholders.
  • Reviews quarterly and annual insurance company financial statements prepared in accordance with Maine Bureau of Insurance and NAIC statutory accounting principles along with reconciliations of the statutory-basis financial statements to generally accepted accounting principles.
  • Maintains, monitors, and develops a documented system of accounting procedures, financial controls, and systems to ensure the integrity of the financials and to maximize the return on financial assets.
  • Supports compliance with relevant federal and state laws and regulations, to include regulatory requirements which impact health care including CO-OP and Exchange rules and Bureau of Insurance regulations.
  • Manages relationships with outside auditors and oversees annual audit and tax preparations and financial examinations.
  • Manages relationship with IT, providing guidance around system testing, system implementations and enhancements as well as necessary processes and controls.
  • Analyzes and oversees self-insured billing, claims funding process and stop loss reinsurance reporting.
  • Develops and implements the annual budgeting process. Communicates budget guidelines/goals/timeline to all departments, reviewing required feedback and ensuring integrity and completeness of budget process output. Develops the budget summary for executive presentation and coordinates the Board of Directors approval.
  • Coordinates preparation of multi-year forecast to include premium, claims, administrative expenses, and membership levels. Oversees preparation of balance sheet, income statement, equity and cash flow statements related to these forecasts.
  • Provides status of financial condition by collecting, interpreting, and reporting financial data, including comparisons of actual results to budgets and forecasts on a periodic basis, updates future forecasts, as necessary.
  • Manages relationship with outside broker on business insurance renewals and oversees claims reporting, if necessary.
  • Oversees broker commission process and reporting.
  • Supports all areas of the company with financial analysis, data interpretation and recommendations to optimize performance.
  • Maintains premium billing policies, procedures, and processes.
  • Business owner of the company's proprietary billing and premium application.
  • Maintains financial staff job results by coaching and counseling, planning, monitoring, and appraising employee job results.
  • Other duties as assigned.
Key Competencies:
People within Community Health Options are expected to work with integrity, humility, strategic vision, curiosity, and discipline. They must be self-motivated professionals, highly effective and compassionate communicators, effectively collaborating with people, and actively engaging in continuous process improvement.

Health Option diversity initiatives are applicable-but not limited-to our practices and policies on recruitment and selection; compensation and benefits; professional development, and training; promotions; transfers; social and recreational programs, and the ongoing development of a work environment built upon the premise of diversity equity, which encourages and enforces:
  • Respectful communication and cooperation between all employees.
  • Teamwork and employee participation, permitting the representation of all groups and employee perspectives.
  • Work/life balance through flexible work schedules to accommodate employees' varying needs.
  • Employer and employee contributions to the communities we serve to promote a greater understanding and respect for the diversity.
Qualifications:
  • Bachelor's degree in accounting. MBA or CPA a plus.
  • Three of more years of past Controller experience, yet receptive to a proven individual performing similar tasks and ready to make that next career step.
  • Five or more years of experience in financial and business operations in an insurance or healthcare related field preferred, in a variety of accounting and/or finance roles of increasing responsibility.
  • At least five years of proven people management experience.
  • Willingness to get into the details, working together with accounting team members to deliver operationally, in addition to contributing to the overall strategy and direction of the business.
  • Strong knowledge of generally accepted accounting principles and statutory accounting principles
  • Ability to analyze complex data and manage simultaneous projects.
  • Strong work ethic, efficient time management skills, excellent written and verbal communication, and presentation skills.
  • Strong working knowledge of accounting, budgeting, system operations, and strategic planning.
  • Knowledge of automated financial accounting and reporting and budget software packages. Oracle ERP and EPM a plus.
  • Experience in the implementation of new vendor systems/modules and analysis of the implication of such systems on the accounting and reporting functions.
  • Knowledge of self-insured and level funded insurance accounting and reporting a plus.
  • Strong working knowledge of Microsoft Office applications: Excel, Word, and PowerPoint.

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