Senior Financial Analyst

Columbia MD 21046 8621 Robert Fulton Drive

Job Description

• Focus on development, evolution, and maintenance of the administrative expense and operating models for Magellan’s specialty health plan line of business (“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

This position requires significant financial analytical experience and demonstrated health care industry knowledge. Primary responsibilities include analyzing costs, preparing financial reports and providing recommendations to leadership for lines of business according to established policies, guidelines and methodologies. Prepare journal entries and analyses in conjunction with month end close process and meet monthly deadlines.
  • Depending on area supporting, duties may vary.
  • Analyzes complex financial information and reports; provides accurate and timely financial recommendations to management for decision making purposes.  
  • Develops sophisticated financial models.  Provides recommendations based upon evaluation of financial trends and forecasts.
  • Evaluates and monitors the efficiency and performance of programs, ensuring program execution is on target.
  • Manages dashboard reporting by tracking monthly, quarterly and annual revenue and expenses.
  • Obtains a thorough understanding of operating infrastructure of Strategic Business Unit(s) (SBUs) operations to be able to proactively analyze and identify opportunities for cost savings and revenue enhancements. 
  • Regularly reviews historical operating results and proactively identifies and analyzes potential revenue enhancement and cost saving opportunities.
  • Performs a variety of pro forma financial and operating analyses as requested to support proposals.
  • Reviews and understands fluctuations across SBUs in delivering cost of care and variations in cost of care.  Differentiates impact of rate versus utilization variations.
  • Supports SBUs by providing information, responding to questions and resolving complex problems and issues.
  • If supporting Medicare Part D, will be responsible for implementing CMS requirements related direct and indirect plan remuneration, plan to plan reconciliation, monthly membership reports, coverage gap discount program, medical loss ratio reporting, fiscal soundness reporting, audit assistance and analysis of drug utilization and other costs trends.
  • Other special projects as assigned.

General Job Information


Senior Financial Analyst



Job Family

Finance Group


United States of America

FLSA Status

United States of America (Exempt)

Recruiting Start Date


Date Requisition Created


Work Experience

Accounting, Finance


Bachelors: Accounting (Required), Bachelors: Finance (Required), Masters

License and Certifications - Required

License and Certifications - Preferred

Other Job Requirements


  • Ability to understand and analyze complex data sets and frame it to actionable analysis.
  • Understanding of the financial structure and business practices of the managed care industry OR federal acquisition regulations if supporting Magellan Federal.
  • Strong PC skills are essential, with advanced skills in Excel and Hyperion Essbase or other large enterprise financial software.
  • Roles supporting Magellan Federal require working knowledge of compliance requirements and accounting complexities

    of federal government contracting, including Federal Acquisition Regulation (FAR) and Cost Accounting Standards) CAS.

  • 3+ years of Big 4 public accounting experience.
  • For roles supporting Medicare Part D: Medicare, PBM and/or managed care experience preferred.
  • For roles supporting Medicare Part D: Working knowledge and experience with Medicare Part D finance and analytics preferred.
  • For roles supporting Medicare Part D: Proficiency in MS Access, SQL or SAS preferred.

Magellan Health Services is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled. Every employee must understand, comply and attest to the security responsibilities and security controls unique to their position.

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