Senior Finance Manager, Healthcare - Columbia, MD

Columbia MD 21046 6950 Columbia Gateway Drive Suite 120

Job Description


Summary Highlights:

Focus on development, evolution, and maintenance of the administrative expense and operating models for Magellan’s specialty health plan line of business, Magellan Complete Care (“MCC”)
Facilitates business process improvement, report creation, and analysis towards achieving operating metrics and goals
Interface with local health plans and MCC leadership, providing value and support for continuous improvement, shaping and driving near-term and long-term priorities and strategies
Proven track record of developing and leading transformational business initiatives that have resulted in significant financial improvement and strategic value
Extensive knowledge of and ability to manage statistical analysis and financial modeling
Administrative modeling experience highly desired, managed care health plan experience and advanced Excel skills required

Responsible for the accuracy and integrity of financial data related to Corporate and/or SBUs. This position will work with various departments within the company as well with employees within the finance department. Support for the Administrative Cost Underwriting process will be a principal responsibility.

  • Ownership of actual versus budget analysis including detailed explanations of the drivers of variances.
  • Applies underwriting procedures to new and existing business.
  • Meets deadlines and assists with the fulfillment of financial requirements for RFPs which entails review, analysis, development of underwriting models and documentation,  periodic recalibration and updating of underwriting model assumptions and cost drivers.
  • Develops and owns underwriting policies and guidance and collaborates with the SBU and Corporate Underwriting on both strategic direction and underwriting parameters to be considered within the process.
  • Prepares and synthesizes detailed cost models for a varying audience, including operational  business partners.
  • Interprets operational metrics and leverages current and prospective performance trends in analysis.
  • Collaborates with Sales, Account Management, Operational leads and SBU finance partners to develop accurate cost models.
  • Understands and leverages operational and business workflows in cost modeling.
  • Supports the budgeting and forecasting processes.
  • Special projects/ad hoc analysis as requested by management.
  • Analysis related to actual expenditures versus budget including detailed explanations.
  • Collaborating with Operations Leaders to develop and quantify cost reduction initiatives and tracking their specific progress.
  • Review and Report Key Performance Indicators (metrics) and assess their progress and improvement.
  • Staffing development for specific operational models and programs.
  • Develops the annual budget/plan which includes staffing and non-labor related expenditures, as well as performance metrics that support staffing levels.
  • Develops Forecasting models to identify future staffing and non-labor expenditures.
  • Develops Magellan Healthcare Operation's Five-Year operational model.
  • Develops operational workflows that will support the cost modeling required to support the Administrative Cost Underwriting process for both existing and new products.
  • Develops Return-on-Investment (ROI) analysis for various current operational workflows and platforms as well as the assessment of new systems.
  • The support for the Administrative Cost Underwriting process will be a principal responsibility and includes:

  • Oversees financial aspects of the administrative underwriting process.

  • Principal activities include reviewing and analyzing Request for Proposals (RFPs) to identify all program, service and financial requirements, developing and completing underwriting models for RFPs, periodically recalibrating current underwriting models to account for current or, at times, prospective operational workflows and metrics, owning the underwriting policy and guidance as leveraged by Operations Finance and collaborating with the business leads on the development of administrative underwriting models related to new products and solutions.

General Job Information


Sr. Manager, Finance - Columbia, MD



Job Family

Finance Group


United States of America

FLSA Status

United States of America (Exempt)

Recruiting Start Date


Date Requisition Created


Minimum Qualifications


Bachelors: Finance (Required), Masters

License and Certifications - Required

License and Certifications - Preferred

CPA - Certified Public Accountant - Enterprise

Other Job Requirements


  • Working knowledge of Hyperion Essbase.
  • Working knowledge Hyperion Planning.
  • Working knowledge of Lawson General Ledger system.
  • Working knowledge of COGNOS.
  • Strong working knowledge of the MS Office product suite, specifically Excel (Advanced User).
  • Ability to work collaboratively with Operations Leaders to learn and understand the detailed operational process and, from this understanding, develop operational workflows that would support both Cost Modeling and the overall Administrative Cost Underwriting Process.

Magellan Health Services is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled

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