Financial Analyst III

About the role

The Financial Analyst III position works under the direction of the Financial Reporting and Audit Coordination (FRAC) Director of Financial Compliance. This position coordinates and oversees financial compliance related submissions and reviews of Managed Care Organizations and Dental Maintenance Organizations who contract with HHSC through the agency's Medicaid Chip Services department. An ideal candidate for this position will be able to review, monitor, and analyze the financial operations of these external contractors who provide healthcare services throughout the state of Texas to qualified beneficiaries. An advanced understanding of accounting and finance as well as the ability to interpret results and make recommendations is a goal for this position. This position will provide financial reporting support and requires the ability to work independently on multiple projects and develop ad-hoc processes for identifying solutions. Work involves the creation and implementation of policies and procedures to ensure consistent and effective practices. Works under limited supervision, with considerable latitude for the use of initiative and independent judgment. Performs other job duties and special projects as assigned. May be responsible for the supervision of others.

Responsibilities

• Financial review of Managed Care Organizations and Dental Maintenance Organizations financial compliance related submissions. These reviews are conducted routinely and on an ad hoc basis as needed. Work involves reviewing and maintaining all documentation specific to the duties assigned and ensuring responsiveness of the organizations. (40%)
• Participates in the assessment and review of Corrective Action Plans the organizations may be placed on by the FRAC team. These Plans are submitted by the organization as a way to ensure the organization is addressing financial reporting compliance issues which need correction. This requires an in-depth understanding of the reporting practices of the organizations. (30%)
• Documents and maintains records of all work performed. Performs policy analysis and makes recommendations with respect to modifying or developing new policies and procedures. Documentation retention must be suitable to pass in-depth audits and information must be able to provide additional explanation to its information. (15%)
• Provides advanced financial analysis work in benefit to internal and external projects. Work involves collaborating on Experience Rebate calculations as well as ad hoc analysis of documentation which may be provided during the normal course of business. (10%)
• Performs other financial related duties as assigned including analysis of potential law and rules changes. (5%)

Qualifications

Graduation from an accredited four-year college or university with major course work in accounting, business administration, finance, economics, or a related field is generally preferred. Relevant work experience may substitute for education on a year for year basis. Accounting, forecasting and reporting experience in Texas State Government is preferred. Must have experience in the use of Microsoft Office software suite. Experience working in a customer service environment is preferred.

Knowledge, Skills, and Abilities

Knowledge of:

• Understanding of Medicaid financial reporting
• Project management with the ability to oversee multiple contractors
• Financial analysis principles and techniques and accounting principles
• Audit practices in relation to state and federal law
• Grasp of financial and industry terminology and practices
• Familiarity with and understanding of financial statements
• Some familiarity with FAR, GAAP, and SEC reporting desired

Skills in:

• Advanced ability in Microsoft Excel including data validation, macros, and dashboard construction
• Communicating effectively, both verbally and in writing
• Performing complex analytical activities in a deadline driven environment
• Maintaining accurate records and making accurate arithmetic calculations
• Working on several assignments or projects simultaneously, setting priorities, meeting deadlines, and working independently with minimal supervision
• Use of common office software including Microsoft Office and applicable in-house developed financial applications

Ability to:

• Research and interpret contracts and State and Federal laws
• Examine and verify financial statements, documents, and reports
• Analyze complex financial problems, evaluate alternate funding sources, and implement creative recommendations
• Establish and maintain effective working relationships with both internal and external staff contacted in the course of the work
• Use independent judgment, within established guidelines, in the course of undertaking assigned responsibilities

Pay & Schedule

Salary range: $5,425.33 - $7,155.75 per month. Pay frequency: Monthly. Shift: Day (First). This position is full-time and eligible for telework. Travel up to 5%.