Investment Accounting Manager

October 5, 2024

Industry: Private

Employment Type:- Full Time

Work Hours:- 8 Hours

Locations:- USA

Full Job Description:-

About Blue Cross

Blue Cross and Blue Shield of Minnesota is one of the most recognized and trusted health care brands in the world with 2.5 million members. We’re committed to reinventing health care to improve health for our members and the community. We hope you'll join us.

How Is This Role Important to Our Work?

The Investment Accounting Manager is responsible for managing the Investment and Treasury financial reporting and accounting and is accountable for the accuracy of this areas specific financial, management and regulatory reporting. This includes implementation and execution of financial policies, procedures, and controls for all general ledger activity including interfaces, journal entries and other monthly financial reporting processes. The Investment Accounting Manager and team report directly to the Vice President of Treasury & Chief Investment Officer.

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A Day in the Life:

Manage the proper recording of multiple interfaces and journal entries for the related companies, market segments, and business units using SAP. This includes establishment of proper accounting methodologies in accordance with both GAAP and STAT requirements.
Direct, review and distribute monthly financial statements and management reporting and analysis to provide accurate and relevant information for business decisions. This includes, but not limited to, working with various levels of corporate management, including subsidiaries, regarding the interpretation and analysis of root causes of financial results and variance to budget and forecast as well as assisting in developing budget and forecast projections.
Manage and review the preparation of numerous external regulatory filings including NAIC, BCBS Association, CMS and Department of Commerce. Coordinate and ensure cross departmental cooperation for purposes of accuracy and timely filing.
Coordinate with external auditors for annual and interim audit work and support periodic regulatory audits (CMS, Commerce). This includes directing and reviewing draft audited financial statements including footnote disclosure as well as audit work paper documentation.
Serve as the technical investment and treasury accounting resource on Statutory Accounting Principals, Generally Accepted Accounting Principals, and internal accounting policies.
Provide leadership investment accounting recommendations for technical investment and accounting strategies, which includes proactive review of how to account for new initiatives and upcoming GAAP/STAT changes.
Direct or provide ad hoc project assistance as requested by executive management, business partners or Vice President of Treasury & Chief Investment Officer.
Establish and maintain key relationships throughout the organization as a means of obtaining information needed to perform duties and to provide financial data requests as needed.
Responsible for promoting continuous enhancement and improvement of financial systems, processes, and reporting capabilities.
Works with SAP support staff to develop, test, and implement enhanced solutions.
Manages the department, including interviewing and hiring employees following required EEO and Affirmative Action guidelines and ensuring employees receive the proper training.
Lead and develop a diverse talent by providing an inclusive environment that promotes diversity of thought and team engagement. This should include proactive coaching, career development conversations, and performance coaching and evaluation.

Nice to Have:

MBA or advanced degree in Finance or Finance-related area of study.
CPA or CMA.
Demonstrated expertise in financial industry and insurance industry (i.e., health, captive, and/or life).

Required Skills and Experiences:

8+ years of related professional experience. All relevant experience including work, education, transferable skills, and military experience will be considered.
Relevant experience includes work in the areas of general accounting, financial reporting, or internal controls.
1 year of staff, project lead or team lead experience.
Expert knowledge of financial markets, enterprise treasury, investments, risk management and subsequent best practices.
Strong leadership, communication, and collaboration skills to ensure Treasury and Investment objectives are communicated and understood.
Well-developed analytical and problem-solving skills, including understanding of complex investment concepts.
Advanced knowledge of regulatory environment.
Excellent written and verbal communication skills with the ability to present complex treasury, investment, and accounting information clearly to boards, investment committees and executive staff.
Exceptional organizational and time management ability, with flexibility to handle a variety of challenging responsibilities and change priorities as needed.
Broad knowledge of NAIC, SEC, and IRS rules and regulations.
Ability to interact effectively with internal and external customers.
Ability to interact effectively with internal and external customers.
Requires strong computer skills in Bloomberg, FactSet, SAP, Blackline and Microsoft Access, Excel and Word.

Role Designation:

Hybrid Remote

Role designation definition: Teleworking is working full time remote. Hybrid is a combination of working onsite and remotely. Onsite is full-time onsite.

Make a difference

Blue Cross is an Equal Opportunity and Affirmative Action employer that values diversity. All qualified applicants will receive consideration for employment without regard to, and will not be discriminated against based on race, color, creed, religion, sex, national origin, genetic information, marital status, status with regard to public assistance, disability, age, veteran status, sexual orientation, gender identity, gender expression, or any other legally protected characteristic.