Responsible for the management of financial results and operations for an assigned SBU. Areas of focus will vary based on assigned SBU and may include customer contracting, rate negotiations, product pricing, analysis of utilization and medical cost trends, new product development and implementation with customers. May also be responsible for the management of financial results for assigned customers, support of profitable sales growth and driving strategic initiatives. In the process, builds relationships with SBU leadership, enterprise financial operations and other functional leaders to drive performance. Develops and maintains external partnerships with key customers, vendors and other constituents to influence the direction of the business.
Essential Functions (will vary based on assigned SBU):
- Analyzes monthly financial results, conducts periodic forecasts of current year profitability and develops the annual budget for all assigned customers. Participates in periodic meetings with internal stakeholders to discuss results and develop corrective action plans to mitigate risk and optimize profitability.
- Supports month end close process which includes reviewing journal entries, reconciliations and month end reports.
- Actively participates as a member of the SBU leadership team in the development and execution of both near-term and long-term business strategies. This includes financial modeling to support the 5-year financial plan. Serves as the financial lead for specific strategic strategies including related investment/capital deployment requirements, cost/benefit analyses and evaluation of potential inorganic accelerants to each strategy.
- Leads financial support for all sales to assigned prospects. This includes bid qualification, pricing strategy, rate development, financial proposal terms and delivery to prospective target (including sales presentations).
- Develops financial reporting platform to enable deepen transparency of expense structure. Maintains cost transparency across entire SBU G&A cost structure.
- Partners with IT leadership team to enhance activity-based reporting.
- Monitors effective utilization of resources and recommends adjustments to cost structure.
- Responsible for the integrity and resolution of all balance sheet accounts associated assigned contracts managed including accounts receivable, funds withheld by customers, claims recoverables, etc.
- Supports underwriting efforts and financial aspects of proposals for RFPs.
- Manages select vendor contracts and payment reconciliations.
- Oversees FTE approvals and geographic changes within the financial system (i.e. cost centers).
- Provides support to both Account Management and Proposal team to aid in new business and account retention, if needed.
- Supports the finance team in evaluating customer-specific contractual reconciliations, renewals/rate openers and settlements of contingencies under each contract (eg. performance penalties/incentives), as needed. Identifies and communicates issues and cost drivers.
- Ad hoc financial analysis and special projects as requested by management.
General Job Information
Senior Director, Finance
United States of America
United States of America (Exempt)
Recruiting Start Date
Date Requisition Created
Bachelors (Required), Masters (Required)
License and Certifications - Required
License and Certifications - Preferred
CPA - Certified Public Accountant - Enterprise
Other Job Requirements
Experience with either health plan payors, Medicaid, a national public auditing firm specializing in healthcare., Experience within managed care, health care or insurance company required.
Customer service focused with excellent analytical skills, interpersonal skills and executive presence required.
Ability to balance multiple projects and adapt to new issues/assignments as business needs change; comfortable with ambiguity.
Experience with direct contract negotiations of financial terms with external clients (This requirement will vary based on assigned SBU).
Demonstrated ability to influence, negotiate and have a sales perspective are key requirements for success in this role., Requires a bachelors degree with 10 or more years of progressive experience in accounting or finance, or a masters degree with 7 or more years of progressive experience in accounting or finance.
Magellan Health Services is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled