Sr. Accounting Analyst

Blue Cross Blue Shield of Massachusetts • Boston, MA

3d • Hybrid

About The Position

Ready to help us transform healthcare? Bring your true colors to blue. What We Need: We are seeking a detail-oriented and dynamic Senior Accounting Analyst to join our Accounting team. This role is central to our financial operations, managing the complex processes of cost allocation, financial reporting, and regulatory compliance. You will be responsible for the administration of our month-end and annual financial closing processes, quarterly reforecasts, and the annual financial plan. This position offers a unique opportunity to work across various business areas and contribute to the financial integrity of our organization, ensuring compliance with Federal Acquisition Regulations (FAR), BCBS Association, and U.S. Treasury Transfer Pricing Regulations. This role is eligible for our Flex Persona. For candidates local to our Boston, MA and Hingham MA offices.

Requirements

• Experience with expense management, budgeting concepts, accounting theory, and both Statutory and GAAP principles.
• Strong analytical skills
• The ability to work independently
• Proven ability to manage and analyze large datasets to identify business trends and derive sound solutions.
• A results-oriented mindset with the ability to work independently and manage multiple priorities effectively.
• Strong technical skills, including proficiency with Microsoft Office Word and PowerPoint and experience with Oracle applications, data warehouses, and reporting tools like IBM Cognos Analytics or Oracle Smart View.
• BA/BS Degree in Accounting required
• Strong work ethic
• 3-5 years of experience in Accounting or related field desired
• Proficiency using Microsoft Excel/Access
• Strong communication and organizational skills
• Minimum Education Requirements: High school degree or equivalent required unless otherwise noted above

Responsibilities

• Manage the monthly Cost Allocation system, processing over a billion dollars in annual administrative expenses across more than 500,000 record data set annually.
• Compile and process monthly data from multiple sources to generate statistical information for 28 distinct allocation drivers.
• Prepare and reconcile administrative expense schedules for quarterly and annual Statutory Statements, ensuring accuracy for all related financial reports.
• Develop and maintain financial reports using Oracle Smart View Excel Add-in, acting as the primary owner of cost allocation system data reporting.
• Maintain and update over 650 cost center allocation profiles, managing more than 3,500 allocation combinations monthly and recording all changes.
• Collaborate with business and operational leaders to compile and report on the quarterly and annual administrative financial plan.
• Provide critical support for the Federal Employee Program (FEP) by assisting with administrative expense reporting and audit oversight.
• Support regulated Senior Products, including Medicare Advantage and Medicare Supplemental, by assisting with annual bids, rate filings, audits, and reporting.

Benefits

• You will gain knowledge and experience in the accounting field within the health insurance industry
• Work in a team friendly environment
• Be set on a career path that sets you up for success and opportunities for growth
• Have access to numerous benefits that promote a healthy work life balance for all associates
• We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and a suite of well-being benefits to eligible employees.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level