Federal Employee Program (FEP) Financial Analyst

Capital Blue Cross; Harrisburg (Dauphin County); Hybrid; USD 70,000 - 90,000; Full time

Benefits offered by this job

Comprehensive benefits package

Paid time off

Tuition reimbursement

Job summary

A health insurance provider seeks a Federal Employee Program (FEP) Financial Analyst in Harrisburg. This role involves financial planning, analysis, and reporting, particularly focusing on FEP programs. Candidates should have a bachelor's degree in finance or accounting, with 3 years of healthcare finance experience and proficiency in Excel. The position is hybrid, requiring onsite work on Tuesdays and Wednesdays, and offers a competitive benefits package.

Qualifications

• 3 years' health plan or healthcare finance experience; FEP experience strongly preferred.
• Strong business acumen and knowledge of financial modeling.
• Ability to streamline functions and passion to learn.

Responsibilities

• Perform budget vs actual analysis for individual programs.
• Prepare annual submissions for health benefits programs.
• Conduct monthly reviews of expenses to FEP.

Skills

Strong interpersonal and communication skills

Proficiency with Microsoft Excel

Strong financial analysis foundation

Ability to build productive relationships

Comfort dealing with ambiguity

Education

Bachelor’s degree in accounting/finance/economics or related field

Tools

Microsoft Excel

Access

Job description

Federal Employee Program (FEP) Financial Analyst

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Position Description

Base pay is influenced by several factors including a candidate’s qualifications, relevant experience, and anticipated contributions to meet the needs of the business, along with internal pay equity and external market-driven rates. The salary range displayed has not been adjusted for geographical location. This range has been created in good faith based on information known to Capital Blue Cross at the time of posting and may be modified in the future. Capital Blue Cross offers a comprehensive benefits packaging including Medical, Dental & Vision coverage, a Retirement Plan, generous time off including Paid Time Off, Holidays, and Volunteer time off, an Incentive Plan, Tuition Reimbursement, and more.

At Capital Blue Cross, we promise to go the extra mile for our team and our community. This promise is at the heart of our culture, and it’s why our employees consistently vote us one of the “Best Places to Work in PA.”

The Financial Analyst-FEP is responsible for financial planning, analysis, and reporting activities for FEP. This role will support the financial functions of FEP including administrative expenses, cost allocations, cost submissions, financial reporting, variance analysis, reporting requirements, and audits. This position will also provide FEP finance support to various internal and external stakeholders.

Responsibilities and Qualifications

• Annual preparation of Federal Employee Health Benefit and Postal Employee Health Benefits Programs.
• Quarterly administrative cost preparation and submission to BCBSA.
• Monthly review of FEP direct and allocated expenses to FEP.
• Budget versus actual analysis of the individual programs and combined FEP program.
• Plan Incentive Program finance measures - preparation and analysis of rate of change drivers.
• FEP individual product allocation review.
• Annual Independent Public Accountant (IPA) audit relating to FEP administrative expenses.
• Financial requests from the BCBSA, Capital FEP Core Team, and government audits.
• Review of the FEP Administrative Manual, as regulation and guidance shift.
• Performs ad hoc reporting and other duties as assigned.

Location

• This position is hybrid, which requires onsite work on Tuesdays and Wednesdays.

Experience

• 3 years' health plan or healthcare finance experience. Federal Employee Program (FEP) experience strongly preferred.

Skills

• Strong interpersonal and communication skills, including written and oral.
• Ability to build productive relationships.
• Self-starter with the ability to streamline functions and passion to learn and grow.
• Proficiency with Microsoft Excel is required; familiarity with data query/data management tools (Access) extremely helpful.
• Strong financial analysis foundation creating forecasts and models.
• Strong fluency with Excel formulas and functions.
• Comfort dealing with ambiguity and ability to work independently.
• Excellent analytical and data gathering skills.

Knowledge

• Strong business acumen, knowledge of financial modeling and techniques.

Education and Certifications

• Bachelor’s degree in accounting/finance/economics or related field.

Physical Demands

• While performing the duties of the job, the employee is frequently required to sit, use hands and fingers, talk, hear, and see.
• The employee must be able to work over 40 hours per week.
• The employee must occasionally lift and/or move up to 5 pounds.

Other

• Travel on an as needed basis for external training.

About Us

We recognize that work is a part of life, not separate from it, and foster a flexible environment where your health and wellbeing are prioritized. At Capital you will work alongside a caring team of supportive colleagues and be encouraged to volunteer in your community. We value your professional and personal growth by investing heavily in training and continuing education, so you have the tools to do your best as you develop your career. And by doing your best, you’ll help us live our mission of improving the health and well-being of our members and the communities in which they live.

Capital Blue Cross is an independent licensee of the Blue Cross Blue Shield Association. We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, national origin, gender, sexual orientation, gender identity, age, genetic information, physical or mental disability, veteran status, or marital status, or any other status protected by applicable law.

Seniority Level

Mid-Senior level

Employment Type

Full-time

Job Function

Other

Industries

Insurance