Financial Planning and Analysis Director leads the budgeting, forecasting, long-term planning, implementation, and business strategic analysis of the financial team. Conducts financial analysis, modeling, forecasting and reporting efforts to ensure efficient financial operations. Being a Financial Planning and Analysis Director reviews analysis results, develops insightful suggestions for investment, sourcing, cost reduction and leads strategic business decisions. Requires a bachelor's degree. Additionally, Financial Planning and Analysis Director typically reports to top management or CFO. The Financial Planning and Analysis Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Financial Planning and Analysis Director typically requires 5+ years of managerial experience. (Copyright 2024 Salary.com)
This individual is responsible for the strategic management and oversight of financial operations for Humana’s Virginia Medicaid Plan, and oversees the budget, financial reporting, and all audit activities. The individual in this role coordinates day-to-day financial operations directly with the health plan Chief Executive Officer (CEO).
POSITION RESPONSIBILITIES:
· Provides market specific financial leadership in the State Medicaid Market, developing a deep understanding of Humana’s Medicaid strategy, capabilities, business drivers, data analytics infrastructure, operational processes, metrics, and best practices
· Provides overall Market profit and loss (P&L) management and leadership with budgets, forecasts, financial analysis, trends, projections, and analytics
· Participates in all state required meetings including the CFO Quarterly Meeting
· Provides Market leader support reporting out on financial results, long-term planning and drive the understanding of financial performance and key drivers
· Responsible for financial analysis, identification of month-end financial drivers, and forecasting including headcount planning to ensure compliance with Commonwealth requirements
· Performs financial impact analysis for new contracts and support negotiations
· Develops Market specific strategic plans and objectives, manage against a five-year long-term plan and coordinate annual budget targets that meet the short- and long-term plan objectives
· Responsible for identifying medical cost trends and leadership of medical cost improvement initiatives
· Responsible for the business unit’s contribution to corporate
· Provides leadership regarding rate and pricing development
· Provides leadership and support regarding value-based program development and administration
· Ensures compliance with all Commonwealth regulatory financial reporting and overall Commonwealth contract management
· Develops and manages meaningful relationships with the Commonwealth Department of Health partners. Applies keen insight regarding the current Medicaid healthcare regulatory environment and competitive environment, and how the components of Humana's business model interrelate to make Humana competitive in the marketplace
· Cultivates internal and external business relationships which will serve as resources of technical knowledge and performance improvement
· Leads and develops staff through all phases from recruitment to training and advancement opportunities
Educational and Experience Requirements:
· Bachelor’s degree in Business, Finance, Accounting, or related field; Master’s degree preferred
· Minimum 7 years of financial management experience utilizing strategic and business planning, accounting, and financial analysis
· Experience working in healthcare and strong foundation of healthcare financials
· Excellent communication, presentation, and interpersonal skills
· Strategic thinking and planning capabilities; excellent organizational skills with coordinating and consolidating inputs across multiple functions
· Attention to detail and highly organized
· Prior experience developing methods and criteria for measuring and summarizing data for complex analyses
· Must be passionate about contributing to an organization focused on continuously improving consumer experience
License/Credential Requirement, if applicable:
Certified Public Accountant (CPA) preferred
LOCATION:
Must reside in Virginia. 20% Travel annually. Need to have flexibility to travel to Richmond, VA at least 1 time every quarter.
Reporting Relationship
This position reports to Humana’s Divisional Medicaid Chief Financial Officer.
Scheduled Weekly Hours
40
Equal Opportunity Employer
It is the policy of Humana not to discriminate against any employee or applicant for employment because of race, color, religion, sex, sexual orientation, gender identity, national origin, age, marital status, genetic information, disability or because he or she is a protected veteran. It is also the policy of Humana to take affirmative action to employ and to advance in employment, all persons regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, age, marital status, genetic information, disability or protected veteran status, and to base all employment decisions only on valid job requirements. This policy shall apply to all employment actions, including but not limited to recruitment, hiring, upgrading, promotion, transfer, demotion, layoff, recall, termination, rates of pay or other forms of compensation and selection for training, including apprenticeship, at all levels of employment.