Lead Investment Accounting Specialist

2 weeks ago


Honolulu, Hawaii, United States Hawaii Medical Service Association Full time
Job Overview

**Hybrid Work Setting - Must be a Hawaii Resident **

Compensation Range: $59,000 - $116,000

Note: Typically, individuals start between the lower to mid-range of the salary scale.

Oversee the investment accounting responsibilities for HMSA in accordance with Generally Accepted Accounting Principles (GAAP), the State of Hawaii regulations, and guidelines from the National Association of Insurance Commissioners (NAIC). Manage, reconcile, and evaluate revenue transactions for all Self-Funded (AFM) groups associated with the Association. Facilitate the exchange of this data with the Underwriting division. Conduct quarterly reporting to the national Blue Cross and Blue Shield Association (BCBSA). Manage requests from external auditors for documentation prepared internally by various HMSA teams and ensure timely fulfillment of these requests.

Essential Qualifications

  1. Bachelor’s degree with three years of relevant experience; or a combination of education and related experience.
  2. Strong verbal and written communication abilities.
  3. Financial analysis expertise.
  4. Project management and documentation capabilities.
  5. Understanding of Generally Accepted Accounting Principles (GAAP).
  6. Proficient in Microsoft Office applications.
Key Responsibilities
  1. Lead the documentation and reporting of all investment activities for the Association in compliance with GAAP, State of Hawaii Insurance Division, and NAIC directives:
    • Gather data from the Association's financial institutions to record all investment activities monthly in the general ledger (GL). This information is then provided to an analyst for entry into an automated investment subsidiary ledger. Monthly reconciliations between banks, subsidiary ledgers, and general ledgers are conducted. Follow-ups with analysts and banks are performed to resolve discrepancies. Specific data is summarized and reports are generated to assist in the preparation of the Association's monthly financial statements.
    • Prepare investment data and adjustments quarterly to report investment activities on a Statutory Basis (SAP) as mandated by the State of Hawaii and NAIC. Reconcile transactions between GAAP and SAP and provide this information to Senior Reporting Analysts for quarterly regulatory filings.
  2. Summarize revenue and billing data from the Underwriting (UND) Department for Self-Funded (AFM) employer groups and reconcile this revenue with the GL monthly. Any discrepancies are addressed with the UND department. Prepare aging reports on outstanding balances and communicate delinquent amounts to the UND, Sales, and Executive teams.
  3. Coordinate requests from external auditors semi-annually for various supporting documents and schedules. Forward requests to the appropriate Finance personnel and/or other internal departments. Communicate due dates with the relevant preparers and follow up on outstanding requests. Document the tracking of these requests and completion timelines.
  4. Prepare quarterly and annual financial reports for the national BCBSA. Respond to inquiries for financial data from BCBSA. Assist with the online submission of reports from other departments to the BCBSA.
  5. Conduct additional reporting and reconciliations on various general ledger accounts, including cash accounts, prepaid assets, and revenue accounts. Communicate with relevant departments to resolve discrepancies or unusual transactions.
  6. Perform other assigned duties as required.
#LI-Hybrid
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