GAAP Financial Reporting Analyst

Hawaii Medical Service Association; Honolulu (HI); Hybrid; USD 59,000 - 116,000; Full time

Job summary

Hawaii Medical Service Association in Honolulu, HI seeks a financial analyst to support regulatory reporting and GAAP-compliant month-end processes. You will prepare income statements, balance sheets, and trial balances, collaborate with actuarial and government teams, and assist in quarterly and annual reports.

The role requires a bachelor's degree in accounting or related field, two years of experience, GAAP knowledge, and strong Excel skills; the position offers a hybrid work environment and

Qualifications

• Bachelor's degree in Accounting or related field required.
• Two years of related work experience or equivalent combination.
• Knowledge of GAAP required.
• Effective verbal and written communication skills.
• Strong financial analysis and MS Office skills.

Responsibilities

• Prepares financial reporting package for month-end closing following GAAP.
• Prepares Income Statement, Balance Sheet, and Trial Balance for monthly close.
• Attend monthly close meetings and provide detailed summaries with follow-up items.
• Prepares quarterly, semi-annual, and annual reports for BCBSA and related entities such as QFR and liquidity ratio.
• Assists with online submission of reports and tax/regulatory filings as needed.
• Prepare supporting schedules for internal and external auditors.
• Performs all other miscellaneous responsibilities and duties as assigned.

Skills

Verbal and written communication

Financial analysis

Project coordination

Data entry

GAAP knowledge

Education

Bachelor's degree in Accounting or related field

Tools

Microsoft Excel

Microsoft Word

Microsoft Outlook

PowerPoint

Job description

Hybrid Work Environment - Must reside on Oahu

Pay Range: $59 ,000 - $116,000, position is eligible for an incentive bonus
Note: Individuals typically begin between the minimum to middle of the pay range

Assists in the preparation of regulatory reporting functions for HMSA as required by the State of Hawaii, National Association of Insurance Commissioners (NAIC), Blue Cross and Blue Shield Association (BCBSA), and others. Prepare ad hoc reports as requested. Supports the management team as needed.

Minimum Qualifications

• Bachelor's degree in Accounting or related field and two (2) years of related work experience; or an equivalent combination of education and related work experience.
• Knowledge of Generally Accepted Accounting Principles (GAAP)
• Effective verbal and written communication skills
• Financial analysis skills
• Project coordination and documentation skills
  Intermediate working knowledge of Microsoft Office applications, including but not limited to Word, Outlook, Excel, and PowerPoint
• Database manipulation software familiarity or relevant experience with data entry

Duties and Responsibilities

• Prepares financial reporting package for month end closing meetings in accordance with Generally Accepted Accounting Principles (GAAP):
  • Prepares the Income Statement, Balance Sheet, and Trial Balance to be presented at monthly close meetings. Applies thorough knowledge of GAAP. Maintains PC-based software to prepare reports and resolve any validation errors. Develops working relationships with the Actuarial & Underwriting teams, Government Accounting & Reporting team, and other F&A units to obtain proper and timely information.
  • Attend and take notes during monthly close meetings. Provide detailed summary to attendees after meeting with any follow-up items identified. Prepare detailed summary of meeting minutes for internal audit submission.
  • Independently performs analysis of financial data for both revenue and expenses for HMSA and all of its subsidiary/affiliate companies. Assists in researching the nature and causes of variances and fluctuations in these accounts. Presents findings and recommendations to management. Performs various reconciliation of information from source data to reported amounts.
• Prepares quarterly, semi-annual, and annual reports for the BCBSA, such as the quarterly financial report (QFR) and liquidity ratio (LR), RBC, and annual budget report. Assists with online submission of reports from other areas to the BCBSA, as needed.
• Prepares quarterly letters to various banks in compliance with line of credit covenants. Assists in the preparation of supporting attachments such as the current ratio, minimum liquidity, and formatted financial statements in accordance with statutory accounting principles (SAP). Ensure that letters are filed in a timely manner.
• Supports the compilation of data for various tax and regulatory filings, such as the Form 720 and Affordable Care Act (ACA) Patient-centered outcomes research institute (PCORI) fee. Assist in obtaining executive signatures and mailing forms timely.
• Prepare supporting schedules for internal and external auditors to describe balances in the various general ledger accounts.
• Performs all other miscellaneous responsibilities and duties as assigned or directed.

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