Budget Analyst

    Updated 8 days ago
    Providence, RI 02912
    Full-time, Part-time
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    Job Description


    Job Description

    Analyze assigned portions of the corporate financial forecast and expense budget, as well as monthly actual-to-budget reports, benchmarking internal results with competitors and monitoring actual premium and claims expense results to forecast. Prepare analytical reports for management.

    ESSENTIAL JOB FUNCTIONS:

    • Analyze financial data to provide information regarding financial trending to decision makers. Analyze decision alternatives through quantitative means. Select and apply appropriate theory, methods, mathematical models, and modification of methods.
    • Prepare premium, claims expense, and enrollment projections through the use of mathematical modeling and sound judgment. Work with subject matter experts throughout the organization to understand and ensure compatibility of historical results and expectations for the future.
    • Support the preparation of an annual budget in compliance with the stated budget requirements by applying appropriate budgeting theory, ensuring the accurate reflection of Cost Accounting Standards and any other applicable governmental regulations.
    • Prepare operating expense and other financial information necessary to develop adequate pricing in response to federal and state agency requests.
    • Prepare financial results or recommendations for a wide range of audiences (from Finance staff to senior management) using spreadsheets and presentation exhibits/graphics.
    • Prepare detailed written analysis to explain and highlight actual to budgeted costs on a monthly basis. Adjust budget to reflect changes in corporate organization on an as-needed basis.
    • Create and maintain current and additional benchmarking opportunities to identify outstanding processes and practices inside and outside of the organization in order to achieve strategic objectives. Prepare multiple monthly dashboards for senior management.
    • Monitor actual premium and claims expense results to forecast on a monthly basis. Evaluate and document significant variances for inclusion on financial statements.
    • Support Financial Planning team with department initiatives and projects.
    • Perform other duties as assigned.

    QUALIFICATIONS:

    Minimum Education and Experience:
    • A combination of education and work experience.
    • Three to five years of experience in quantitative business analyses or mathematical modeling.

    Preferred Education, Additional Qualifications, and Experience:

    • Visual Basic for applications to modify/enhance existing systems.

    Required Knowledge, Skills, and/or Abilities:
    • Financial statement analysis.
    • Managerial accounting.
    • Mathematical theory and methods and their appropriate application required.
    • Ability to research data, identify trends, and recommend appropriate actions.
    • Advanced analytical skills with the ability to interpret and synthesize complex data sets.
    • Good business acumen and political savvy.
    • Knowledge of business process-improvement techniques and strategies.
    • Excellent verbal and written communication skills.
    • Negotiation skills.
    • Presentation skills.
    • Decision-making skills.
    • Good problem-solving skills.
    • Ability to interface with employees at all levels.
    • Ability to effectively navigate ambiguous situations with limited direction.
    • Excellent organizational skills and ability to successfully prioritize multiple tasks.
    • Ability to handle multiple priorities/projects.

    At Blue Cross & Blue Shield of Rhode Island (BCBSRI), diversity and inclusion are central to our core values and strengthen our ability to meet the challenges of today's healthcare industry. BCBSRI is an equal opportunity, affirmative action employer. We provide equal opportunities without regard to race, color, religion, age, national origin or ancestry, disability, veteran status, sexual orientation, genetic information, sex, gender identity or expression, and any other personal attributes protected by federal, state, or local law. For more information about our commitment to diversity and inclusion, please see our Diversity Report at (see application details) law requires an employer to post notices describing the Federal laws prohibiting job discrimination based on race, color, sex, national origin, religion, age, equal pay, disability, veteran status, sexual orientation, and genetic information and gender identity or expression. Please visit (see application details) to view the "EEO is the Law" poster.

    BCBSRI is committed to working with and providing reasonable accommodation to individuals with disabilities. If, because of a disability, you need a reasonable accommodation for any part of our application process, please contact us at (see application details) for assistance.

    During the application process, please allow a minimum of five business days before you contact our office to inquire about the status of your application. If you have any questions regarding your application or during the process, please contact Human Resources by phone at (see application details) or by email at (see application details).

    Southern New England, Boston, MA, Hartford, CT, Health Data Analyst, RI Health Insurer, Healthcare, Wellness, Provider, Network, Rhode Island, RI, Analysis, Accounting, Finance, Financial, Budget, Report, Statistics, Math, Mathematics, Insurance, GAAP, Generally Accepted Accounting Principles

    Posting ID: 620918934Posted: 2021-04-29Job Title: Budget Analyst