Financial Accounting Analyst - ACA

Posted: 03/13/2023

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Primary Purpose:
Prepare and coordinate the accounting and reporting functions required by the Health Care Reform/Affordable Care Act (ACA). Research legal and accounting requirements and implement procedures to comply with these reporting requirements under the new law. Support management decisions by performing analysis of financial information of HMSA. Perform all accounting functions related to one of HMSA's subsidiary companies. Analyze various general ledger and financial statement processes and systems to support all aspects of the financial reporting cycle. Interface directly with other departments and external parties to obtain information required to record and report on the financial status of the company.

Minimum Requirements:

  1. Bachelor's degree or higher education with emphasis in finance, accounting, or other business-related field and two years of experience with business process and accounting/finance functions; or equivalent combination of education and experience.
  2. Strong understanding of basic accounting principles and practical application
  3. Knowledge of GAAP accounting standards
  4. Project coordination and documentation skills
  5. Financial analysis skills
  6. Basic working knowledge in Microsoft PowerPoint
  7. Intermediate working knowledge in Microsoft Outlook and Excel
  8. Advanced working knowledge in Microsoft Word
Duties and Responsibilities:
  1. Responsible to prepare and coordinate the accounting and reporting for requirements of the ACA:
    • Prepares Medical Loss Ratio (MLR) report for the Association.
      • Obtains information from various departments, documents processes and procedures, interprets and summarizes data, and completes report in accordance with Federal guidelines.
      • Applies systematic, logical analysis, independent discretion, and judgment to solve problems, research and collect relevant information, and take action to select best precedents, guidelines, or options.
      • Develops good relationships with other departments and F/A staff members to define the requirements and ensure timeliness of information.
    • Ensures that all "Insurer Fees" assessed by the Federal government are properly recorded, reported, and paid in a timely manner.
      • Ensures proper accruals are recorded and classified based on information developed by the Underwriting department.
      • Coordinates payment and submission of tax reports by the Tax Unit.
      • Research is conducted on any changes in rates and calculations as required by Federal regulations.
    • Ensures that all "Risk Adjustments" assessed by the Federal government.
  2. Maintain all of the accounting records and reports for one of HMSA's subsidiary companies, such as BSH Hawaii.
    • Record all transactions into the general ledger, make applicable payments to outside vendors, and prepare all financial reports.
    • These reports will include financial statements and related analysis for regularly scheduled Board of Director meetings.
    • Interface with both internal and external auditors to provide supporting documents, resolve audit issues, review of final audited financial statements.
    • Monitor cash and investment balances and inform management of cash requirements or excess balances.
  3. Analyze transactions and balances in HMSA's general ledger.
    • Perform reconciliations of assigned general ledger accounts and follow-up on any identified problems.
    • Assist in the preparation and review of the monthly financial statements and Board of Director reports.
    • Perform research and document variances of any fluctuations in account balances between prior periods and budgets.
    • Identify and record appropriate journal entries to the General Ledger.
    • Ensure that amounts recorded are accurate and complete.
  4. Perform accounting and reporting for large contracts, such as the State EUTF program.
    • Ensure that transactions are recorded properly in the GL and are reconciled to information provided by the UND department.
    • Work with the UND and AMS departments to communicate any discrepancies or problems.
    • Monitor cash flow and ensure that the State is making timely payments to HMSA.
  5. Lead the testing effort for upgrades and modifications to the general ledger system.
    • Interface with the IT department to analyze, plan, and test all software upgrades and related changes in reports.
    • Coordinate with other units and staff to ensure all changes are communicated, properly tested, and documented before implementation.
  6. Performs all other miscellaneous responsibilities and duties as assigned or directed
**Hybrid Work Environment - Must reside on Oahu **

Equal Opportunity Employer – Minorities/Women/Protected Veterans/Disabled

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