3-5 years of experience
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Employment Type:
Full time
Job Category:
Corporate Cost Management Analyst
(This job is no longer available)
Blue Cross Blue Shield | Durham, NC
Grad Date

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Job Description

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Job Description

Creates, maintains, and improves the needed processes to effectively and efficiently generate financial, budget, forecasting and cost analysis work products to help the enterprise achieve its cost management goals. Able to effectively utilize experiences, knowledge and financial analysis tools to generate insights on budgets, forecasts, actual expenses, cost allocations and their interrelations with cost drivers. Communicates clearly and logically with team members, stakeholders and various levels of managerial staff regarding financial processes and insights. Responsible for analyzing complex business arrangements, supporting and working directly with all levels management and functional experts across the company. Provides financial expertise for the benefit of team members and stakeholders and is able to flexibly apply financial analysis concepts in a variety of perspectives including segment, products, corporate division, hierarchies, or enterprise level.

* Interacts with various levels of management and key stakeholders. Able to contribute in the context of the sensitive, strategic and/or impactful financial initiatives within the enterprise.
* Creates, maintains and improves financial analysis, budgeting, forecasting and/or activity based costing modeling products. Applies controlling mechanisms to ensure accurate and consistent work products.
* Produces consistent and timely monthly, quarterly, and annual reporting and analysis in support of monthly close, monthly and annual reporting to segment, pricing, and planning managers, and quarterly cost reimbursement contract cost reports.
* Oversees complex ongoing financial processes such as cost center activity, product-segment, budget development, actual vs budget explanations, components of ABC cost model and supports specific outputs needed to generate GAAP, Statutory Reporting, pricing, budgeting, benchmarking, and government contract reporting.
* Clearly and effectively communicates financial analysis processes & insights relevant to various audiences.
* Shares knowledge with team members, peers and stakeholder teams for financial effectiveness to foster business relationships, build trust, and to gain understanding and buy-in of the cause and effect relationships of cost center spending and product profitability.
* Is a subject matter expert in the financial analysis, budgeting, trends, forecasting and/or cost allocation process for the division or cost centers assigned to relevant stakeholders.
* Provides credible information in support of audits of financial & statutory financial statements and audits of cost reimbursed contracts. Is able to research regulatory guidance to determine and support costing methods and decisions.
* Is able to contribute to cross functional or inter-departmental optimization efforts.
* Assists with business unit management with the development of business unit operating plans and budget submissions. Monitors business unit performance against goals and plans.
* Takes on additional duties as needed and produces ad hoc reporting as requested. Relentlessly works to break down barriers to progress and to eliminate unnecessary and/or non-value added duties to create new capacity.

Hiring Requirements

* Undergraduate degree in accounting, finance, math, or economics
* 3 years of cost accounting or financial analysis experience.

Hiring Preferences

* Must have proficient working knowledge in Excel, Access, Word, and working knowledge in other data/reporting tools such as Business Objects, query development, and universe design
* Strong aptitude, skills and/or experience to efficiently organize, leverage and extract information from financial data
* Financial Analysis and/or Activity Based Cost Accounting
* Experience with financial analysis, budget, ERP, and/or ABC tools
* Working understanding of the health insurance industry with exposure to operating expense drivers and relationships
* Ability to work under tight time constraints while applying judgment in balancing improvements and levels of accuracy against timeliness.
* Demonstrates relentless resolve & persistence to doggedly pursue & achieve goals. Consistently curious and acquires financial and business acumen.
* Able to initiate and utilize creativity, technical acumen and business acumen to quickly create organized spreadsheets or work products.
* Able to grasp new concepts quickly and complete assigned tasks independently with little or no recurring supervision or assistance.
* Able to address complex, ill-defined, ambiguous problems and propose solutions that is on the "right track" with a clear ability to articulate assumptions made
* Displays strong desire for learning and exercising curiosity. Constantly acquires financial and business acumen. Shares learnings with other team members.
* MBA, CPA, CMA or CGMA is a plus


About Blue Cross Blue Shield

The Blue Cross and Blue Shield Association is a national federation of 39 independent, community-based and locally operated Blue Cross and Blue Shield companies that collectively provide health care coverage for more than 100 million individuals , one-in-three Americans.