Sr Financial Analyst

Location: City of Rochester

Sr Financial Analyst page is loaded## Sr Financial Analyst locations:
University Health Services time type:
Full time posted on:
Posted Todayjob requisition :
R267086

As a community, the University of Rochester is defined by a deep commitment to Meliora - Ever Better. Embedded in that ideal are the values we share: equity, leadership, integrity, openness, respect, and accountability. Together, we will set the highest standards for how we treat each other to ensure our community is welcoming to all and is a place where all can thrive.
** Job Location (Full Address):
** 738 Library Rd, Rochester, New York, United States of America, 14627
** Opening:
** Worker Subtype:

Regular Time Type:

Full time Scheduled Weekly

Hours:

40

Department:100120 University Health Service

Work Shift:

UR - Day (United States of America)
Range:

UR URG 112

Compensation Range:$70,197.00 - $
* The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job's compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.
*** Responsibilities:
** With general oversight from the Director, the SHIP Manager conducts and oversees a variety of financial activities, including accounting, financial analysis, audit, credit, collections and financial risk mitigation for the $18 million Student Health Insurance Plan (SHIP). The Manager develops and evaluates financial plans and policies; establishes and maintains accounting, financial, and reporting policies and controls in accordance with standards and regulations;

has accountability for the financial performance and accounting of the SHIP; and makes recommendations to the Director to adapt plans and priorities to address opportunities and challenges. Responsibilities are accomplished through the development and maintenance of strong financial, reporting, and data driven practices including improving SHIP business processes that support timely, accurate reporting related to insurance laws and regulatory requirements, management of FASB standards, as well as university policies and procedures.
** ESSENTIAL FUNCTIONS
**** Accounting & Reconciliation of Financials
*** Establishes and implements policies and procedures to ensure proper accounting and reconciliation of SHIP finances.
* Develops and monitors the SHIP operating budget, investigates variances, and proposes actions to address them as necessary.
* Monitors SHIP accounts according to proper accounting methodology and University standard; reports all anomalies to the Director and proposes and/or implements solutions according to agreed-upon business processes.
* Maintains proper reconciliation of highly complex transactions and datasets related to, but not limited to, enrollment, premiums, claims, payments, prescription rebates, and stop-loss insurance to ensure proper booking of revenues and expenses.
* Prepares annual footnote for University financial statements and performs other year-end close activities.
** Financial Compliance & Administration
*** Is the leading subject matter expert on all federal and state regulations associated with financial requirements for student health plans.
* Establishes and implements policies and procedures that ensure compliance with financial requirements/regulations, particularly those of the NYS Dept. of Financial Services (DFS).
* Performs complex analyses to support premium rate setting, reserve setting, and the development of a financial strategy that limits premium increases to the student.
* Functions as the primary contact and manager for all financial submissions and inquiries to NYS DFS.
* Assists in preparation for and execution of examinations with governmental officials and responses back to inquiries as appropriate.
* Monitors and reports on audit findings, examination findings and implemented mitigation strategies associated with those findings.
* Manages processes and products from actuary, CPA, third party audits, etc.
** Financial Analysis and Reporting
*** Leads the build…