Assistant Controller

WellSense Health Plan; Boston (MA); Remote; USD 105,000 - 120,000; Full time

Job summary

A leading health insurance company is looking for an Assistant Controller to manage financial operations and reporting. This strategic role involves overseeing accounting functions, ensuring compliance with financial regulations, and supervising a dedicated team. The company offers full-time remote work with competitive salary and excellent benefits.

Benefits

Competitive salaries

Excellent benefits

Full-time remote work

Qualifications

• Bachelor's degree in Accounting preferred.
• 3-6 years of experience in an insurance company.
• CPA designation preferred.

Responsibilities

• Prepares financial statements and manages general ledger.
• Oversees year-end audits and regulatory reporting.
• Supervises 3-5 individuals.

Skills

Strong oral and written communication

Process improvement skills

Strategic thinking

Leadership abilities

Team management

Education

Bachelor of Accounting degree

Tools

Microsoft Office products

Advanced Excel skills

Job description

Join to apply for the Assistant Controller role at WellSense Health Plan

Join to apply for the Assistant Controller role at WellSense Health Plan

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It’s an exciting time to join the WellSense Health Plan, a growing regional health insurance company with a 25-year history of providing health insurance that works for our members, no matter their circumstances.

Job Summary

WellSense Health Plan is seeking a strategic and analytical hands on professional to join our team as Assistant Controller. This role will report to the Vice President of Finance and collaborate with all teams within the finance function (Financial Planning & Analysis, Actuarial, Provider Analytics, etc.) as well as BMC Health System (Accounting and the Financial Information Services Teams). This individual will manage 3-5 individuals as well.

Our Investment In You

• Full-time remote work
• Competitive salaries
• Excellent benefits
  
  

Key Functions/Responsibilities

I. Accounting & Financial Reporting

• Prepares and consolidates financial statements
• Establishes and maintains internal controls
• Manages all aspects of the general ledger
• Research accounting issues for compliance with generally accepted accounting principles and statutory accounting principles
• Supervises the preparation of monthly journal entries
• Helps maintain accountability of the financial resources of the Plan
• Assists VP Finance with a variety of tasks as needed
• Reviews monthly close process to prevent errors
• Handles special projects as requested by management
  
  

Specifically,

• Leads accounting operations, controls General Ledger processes, and reviews all account reconciliations
• Monitors bank activity and reviews monthly cash reconciliations
• Oversees preparation and production of monthly and annual Financial Statements including journal entries and supporting work papers for both GAAP and STAT closes
• Responsible for Investment Accounting functions, interacts with FIS Account Manager, and maintains investment accounting at the level of detail necessary to appropriately state investment bonds and stock balances, realized gain/losses, unrealized gains and losses as well as investment income.
• Maintains control over tax and property insurance issues and inquiries
• Responsible for completion of quarterly and annual NAIC reporting systems and support workpapers
• Incorporate insurance related entries, specifically quality reclassifications, into the monthly close process
• Coordinates with the Health System Accounting Dept as needed
  
  

II. Financial Audits

• Helps and manages the preparation of the year end audit GAAP audits and statutory audits
• Oversees preparation and delivery of all audit workpapers, coordinates communication of other functional areas of the Plan within audit team.
• Works with VP Finance, as needed, on preparation of Audited Financial Statements and related disclosures.
• Coordinates resources with compliance, legal, human resources, and operational areas to meet accurate and timely filing requirements of internal staff, affiliates and regulators
  
  

III. Regulatory Reporting

• Prepares validation analysis for claims-related balance sheet accounts for quarterly and annual filings.
• Performs NAIC rating analyses of investment portfolio for quarterly and annual regulatory filings.
• Responsible for preparation of quarterly and annual statement NAIC blanks as well as supplemental reporting required for 4/1 filings as well as supporting Actuarial team with information needed for medical loss ratio filings.
• Contributes and/ or prepares Regulatory Filings to:
• Division of Insurance (MA)
• Insurance Department (NH)
• MassHealth
• NAIC
• Division of Health Care Finance (MA)
• Department of Health and Human Services (NH)
  
  

IV. Other

• Ensures accounting and accounts payable controls comply with SOC1 and Model Audit Rule (MAR) requirements
• Provides annual updates to internal control matrixes related to Accounting
• Works with internal auditor on preparing annual documentation for annual SOC1 and MAR attestations
• Provide ad hoc finance support to other departments as needed
• Manages credit card procurement program and Staples office supply program
• Serve as back up to the VP Finance and Corporate Controller
  
  

V. General Business Support

• Regular and reliable attendance is of the essence to perform the job
• Coordinates additional external resources needed in peak periods
• Works with BMC IT and Accounting on process improvements and resolving critical issues
• Responsible for staff hiring, work allocation and scheduling; training and professional development and performance management of accounting staff
  
  

Supervision Exercised

• This role will supervise 3-5 individuals
  
  

Supervision Received

• The Assistant Controller will report into the VP of Finance.
  
  

Qualifications

Education/ Experience Required:

• Bachelor of Accounting degree preferred or the equivalent combination of education and experience.
  
  

Experience Preferred/Desirable

• Prior experience working at an insurance company (3-6 years)
• GAAP and Statutory accounting technical expertise
• Understanding of how to account for multiple product lines utilizing the ledger system
• Demonstrated application of ethical business and finance practices
• Thorough knowledge of financial and accounting practices and procedures
• Demonstrated experience in the healthcare industry, preferably within a health plan or similar organization
• A history of successful leadership and team development
• Experience with process improvement
• Familiarity with regulatory compliance and reporting requirements in the healthcare sector
• Hands-on type of individual
  
  

Required Licensure, Certification Or Conditions Of Employment

• Successful completion of pre-employment background check
• CPA designation preferred
  
  

Competencies, Skills, And Attributes

• Effective collaborative and proven process improvement skills.
• Strong oral and written communication skills; ability to interact within all levels of the organization.
• A strong working knowledge of Microsoft Office products and advanced Excel skills.
• Demonstrated ability to successfully plan, organize and manage projects
• Strong leadership and team management abilities
• Ability to interpret and apply accounting principles and regulations
• Strategic thinking and problem-solving capabilities
• Exceptional organizational skills and attention to detail
• Knowledge of healthcare industry financial practices and regulations
• Capacity to thrive in a fast-paced and dynamic environment
  
  

Working Conditions And Physical Effort

• Ability to work outside of normal business hours as needed.
• Regular and reliable attendance is an essential function of the position.
• Work is normally performed in a typical remote home office work environment.
• No or very limited physical effort required. No or very limited exposure to physical risk.
  
  

About WellSense

WellSense Health Plan is a nonprofit health insurance company serving more than 740,000 members across Massachusetts and New Hampshire through Medicare, Individual and Family, and Medicaid plans. Founded in 1997, WellSense provides high-quality health plans and services that work for our members, no matter their circumstances. WellSense is committed to the diversity and inclusion of staff and their members.

Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. WellSense participates in the E-Verify program to electronically verify the employment eligibility of newly hired employees

Apply now

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing and Finance

• Industries

  Hospitals and Health Care

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