Hybrid, must be local and work onsite 3 days each week (North Kingstown, RI) – $70k-$85k, PBM is no longer required
DETAILED RESPONSIBILITIES
- Execute daily financial transactions and procedures while ensuring compliance with Company policy and technical and regulatory body requirements. Stay current on the company’s technical accounting and finance approach and positions.
- Develops, coordinates, oversees, and reports the status of the monthly financial close cycle. Maintains and adjusts the cycle as necessary to meet or accelerate deadlines.
- Responsible for developing monthly and quarterly cash flow reporting and analysis, coordinating requirements, and having a visible role in meetings, ensuring clear communication of cash flow needs, opportunities, and risks.
- Prepares timely, accurate, and complete financial close reporting, projections, analyses, and explanations for senior management and GST Finance as needed.
- Responsible for overseeing new PBM client invoicing implementation process for Finance.
- Oversight of the accounting impacts. This includes reviewing and approving monthly journal entries, account reconciliations, and analysis of results for financial activity within PBM Accounting.
- Oversees completion of all close cycle components and executes the more complex components (e.g., liability estimates, write-off recommendations, complex journal entries, etc.).
- Reconciles drug manufacturer reimbursements to the employer group and manages the group-level reporting and payments.
- Generates accrual reports and performs ad hoc analyses in response to client requests for CMS subsidy impacts on client benefit designs and performance.
- Oversees cash receipts and distributions and administers CMS overpayment processes.
- Monitors client performance related to CMS subsidies. Forecasts EGWP client subsidies as required.
- Develops and maintains deep subject matter expertise related to Medicare Part D Payment processing, Medicare Part D benefit administration, and related financial functions.
- Support and manage requests from internal and external auditors as they complete the financial statement and internal control audits.
- Reviews peers’ work, including journal entries, reconciliations, and economic and operational reports, for accuracy and completeness.
- Evaluate and propose process improvement and efficiency opportunities.
- Performs and/or ensures the completion of other operational duties, such as reviewing new contracts for PBM Finance deliverables and responsibilities.
- Assess and improve internal controls and policies/procedures to address the current operating environment, including touch points with other departments and operating entities, and introduce best practices.
- Report and resolve internal and external stakeholder issues or inefficiencies. What does this mean?
- Foster strong inter-departmental collaboration on projects, initiatives, and problem resolutions.
- Participate in industry and technical seminars/training; maintain and acquire additional certifications and skills; establish professional and personal networks; research best practices and knowledge share with others; participate in professional or industry societies.
EDUCATION AND EXPERIENCE
- Experience in complex accounting
- BS or MS degree in Accounting, Finance, or Audit
- 5-7 years of accounting, auditing, or finance operations experience within the PBM/RX industry highly desired
- At least 3 years of experience reviewing the work of others and mentoring/coaching or supervisory experience.
- Relevant industry accounting experience (e.g., RX/PBM operations, insurance/group benefits, third party administration, revenue recognition, etc.) with a broad range of accounting and financial analysis exposure highly desired
- The ideal candidate will have a strong accounting background with the ability to meet tight deadlines in a fast-paced environment.
- Ability to work cross-functionally in a large organization, communicating effectively at all levels.
- Rx or PBM (Pharmacy Benefit Management) experience a plus.
TECHNOLOGY SKILLS
- Strong data analysis and related analytical tool skills (Access, Excel)
- Experience with Great Plains or similar G/L packages
- Ability and experience with system and data conversions
- Ability to converse knowledgeably with IT personnel.
- Advanced skills in Microsoft Office products with an emphasis on Excel, Word, and Power BI
COMPETENCIES
- Ethics, integrity, high-quality service delivery
- Entrepreneurial, self-sufficient, proactive with recommendations and actions
- Internal and external customer service
- Relationship-building, teamwork, mentoring, networking
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