Financial Analyst - Employee Benefits in Tucson at CBIZ

Date Posted: 11/9/2019

Job Snapshot

Job Description

With over 100 offices and nearly 5,000 associates in major metropolitan areas and suburban cities throughout the U.S. CBIZ (NYSE: CBZ) delivers top-level financial and employee business services to organizations of all sizes, as well as individual clients, by providing national-caliber expertise combined with highly personalized service delivered at the local level. CBIZ has been honored to be the recipient of several national recognitions: 2019 America's Best Mid-Size Employers by Forbes, 2019 Best Workplaces in Consulting & Professional Services by Great Place to Work® and FORTUNE, 2019 Workplace Excellence Seal of Approval by the Alliance for Workplace Excellence, and one of the Top 101 highest scoring companies in the country for Best and Brightest Companies to Work For in the Nation by the National Association for Business Resources.   CBIZ Benefits & Insurance Services is a division of CBIZ, Inc., providing benefits consulting, HRIS technology, payroll, human capital management, property and casualty, talent and compensation solutions, and retirement plan services to organizations of all sizes. By offering this range of services, we are able to help clients eliminate the inefficiencies associated with the use of multiple vendors. Ranked as a Top 20 Largest Broker of U.S. Business (Business Insurance Magazine) and a Top 100 Retirement Plan Adviser (PLANADVISER), we have approximately 1,500 professionals in 75 offices nationwide. Clients in a wide array of industries rely on us for national-caliber expertise and technical depth combined with highly personalized, local service.  

This position is a function of the exclusive management agreement between CBIZ and the Arizona Health Reciprocal Insurance Company (AHRIC) which requires CBIZ to provide all necessary brokerage; operational; financial and administrative support and functions to AHRIC.

As a reciprocal captive insurance company, AHRIC’s main purpose is to supply insurance to its Subscribers (i.e. – owners). The business purpose of AHRIC is to provide a vehicle and program structure that allows its Subscribers to:

  • significantly lower fixed costs of benefit programs
  • better serve their needs and the needs of their employees
  • control the design and management of employee benefit programs
  • proactively reduce costs and expenses over the long term
  • pool risk to smooth volatility
  • improve the health of their employees through wellness programs
  • allow more resources to fund their respective core mission(s)

The AHRIC controller is a CBIZ employee dedicated solely to AHRIC and has the responsibility of recording the accounting transactions and preparation of monthly financial statements – along with other duties as defined below.

Essential Functions and Primary Duties

  • Provide all financial and administrative support to AHRIC and the related CBIZ team 
  • Knowledge of all AHRIC-related governance documents and policies
  • Coordinate proper recording of transactions in the QuickBooks general ledger and supporting systems.
  • Interface with medical and pharmacy third-party administrators (TPA) for monthly enrollment downloads
  • Prepare Subscriber premium invoices with appropriate supporting documentation
  • Handle all TPA weekly funding requests, make appropriate electronic bank transfers and record such in QuickBooks and supporting subsidiary schedules.
  • Understanding of investment and capital market principles – including asset allocation models – in order to support investment portfolio in accordance with AHRIC Investment Policy
  • Serve as the AHRIC liaison to all professional advisors including, but not limited to:
  • Attorneys
  • Auditors and tax consultants
  • Banking relationship with Northern Trust 
  • CBIZ actuaries
  • Arizona Department of Insurance (AZDOI)
  • TPA’s as related to banking and financial matters
  • Serve as primary link to all AHRIC Subscriber Chief Financial Officers and coordinate quarterly AHRIC Finance Committee meetings.
  • Assist in AHRIC business development efforts 
  • Support AHRIC Board and its members relative to all financial matters.
  Monthly Financial Reports
  • Prepare financial statements and supporting analyses to CBIZ team and AHRIC Finance Committee members
  • Reconcile operating bank account and investments statements
  • Record any applicable monthly or quarterly transactions related to pharmacy rebate accruals and payments; reinsurance accruals and payments; Incurred But Not Reported (IBNR) adjustments; income tax entries; etc.
  • Make all necessary monthly administrative electronic payment transfers to TPA’s and other AHRIC service providers
  Annual Reporting Requirements
  • Prepare year-end financial statements in accordance with Generally Accepted Accounting Principles (GAAP)
  • Coordinate annual audit with external auditor/CPA firm
  • Coordinate year-end actuary reports as required by auditors 
  • Annual tax filings 
  • Federal tax return coordination with CPA firm and actual filing of return
  • Subscriber Savings Account (SSA) year-end calculations and Subscriber “notice letters” pursuant to IRS regulations
  • Arizona Captive, LLC (attorney-in-fact) federal and AZ tax returns preparation and filing
  • Estimated tax filings and payments as required
  • Prepare all related information for annual reporting to the AZDOI, including but not limited to:
  • Annual Report and related supporting schedules
  • Management’s Discussion & Analysis narrative
  • Required actuarial opinion, reports and disclosures
  • Annual filing fees
  • Research, collect, manipulate, interpret and verify data
  • Prepare requirements, specifications, business or financial processes and recommendations
  • Support or drive implementation of solution
  • Assess possible shortcomings in the implementation
  • Prepare and distribute analytical data reports and/or records
  • Respond to inquiries regarding analysis and reports
  • Work within the defined scope of the project
  • May have an obligation to implement their findings
  • Additional responsibilities as assigned

Preferred Qualifications

  • Bachelor’s degree in accounting, finance or related field
  • CPA certification preferred
  • Minimum of 5-years’ experience in corporate accounting
  • Solid knowledge of and experience in applying accounting principles
  • Knowledge of health insurance and managed care industry principles beneficial
  • Ability to effectively communicate AHRIC financial information at all levels within AHRIC and CBIZ
  • Proficiency in the following:
    • QuickBooks desktop application
    • Microsoft programs – especially Excel
    • Electronic banking and payment systems
  • Demonstrated ability to communicate verbally and in writing to all levels within an organization – both internally and externally
  • Ability to work both independently and as part of a team
  • Ability to manage tight deadlines, work on multiple assignments and prioritize tasks within appropriate timeframes

Qualifications Required

  • Bachelor’s degree in business, economics, statistics is required or equivalent work experience in related field
  • 5 years of relevant work experience
  • Must have and preserve required licenses/certifications
  • Must possess analytical skills
  • Must be able to comprehend, manipulate and interpret statistical data
  • Proficient use of applicable technology
  • Demonstrated ability to communicate verbally and in writing within all levels of an organization, both internally and externally
  • Must be able to travel based on client and business needs

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