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Cost Planning Leader

Job Description

Summary:

  • Provide strategic guidance, lead, and manage EmblemHealth’s budgeting and forecasting processes by incorporating industry best practices; provide recommendations for cost saving strategies with department leads that would yield higher efficiency or lower costs to the company by performing deep analytic dives into the organizational data. 
  • Assist with developing EmblemHealth into a world class organization from the finance perspective by adding layers of analytics to all financial decisions and incorporating industry best practices to help guide the decisions.
  • Incorporate all existing and future financial reporting into the Oracle system; develop new reporting capabilities; help lead the effort in familiarizing the rest of the organization with its vast capabilities including training end users.
  • Evaluate and decide on proposed corporate expenditures.
  • Lead and oversee the department responsible for analyzing P&L analytics at all levels; support the business through regular meetings with department heads to discuss the impact of their respective budgets to business owners; and create detailed analyses of vendor spend by account and detailed analysis of FTE and associated personnel expenses. 

Responsibilities:

  • Lead and manage the corporate budget and forecast process for 125+ cost centers, including preparation, consolidation, distribution and revision of budgets, forecasts and related projects. 
  • Evaluate the leveraging of new technologies; make recommendations that will improve existing processes.
  • Coordinate regular meetings with department heads to review administrative expenses.
  • Provide recommendations and strategic insight to the business utilizing industry best practices to illustrate inconsistencies and offer recommendations to improve efficiency and effectiveness of underlying cost structure.
  • Monitor the monthly budget performance at both a detailed and consolidated level; utilize deep dive analytics to develop reports; provide recommendations on corrective actions or adjustments that are communicated to senior management.  Provide consultations to departments in preparing budgets, forecasts and improvement recommendations to allow functional leaders to meet corporate goals.
  • Manage and foster a team that creates value-added value analysis and develop operational strategies for their clients.  Provide leadership to ensure that production and quality of work meets team, department and corporate goals. Create a thorough support process and participate in day to day project management planning and scheduling, including business resource allocation to prioritized activities.
  • Encourage team members to develop new ways to present data, explain variances and think outside of the box. Encourage proper communication between each of the analysts and the business; develop new ideas and put them into action when appropriate. Perform other duties as assigned or required.

Job Requirements

Qualifications:

  • Bachelor’s Degree in Business Administration, Healthcare Administration, Finance, Accounting or related; Master’s preferred
  • 10+ years’ experience, including 8+ years of financial reporting/analysis and experience managing financial analysts. (R)
  • 3 – 5 years of health care experience. (P)
  • Must have a general understanding of health insurance. (R)
  • Understanding of accounting principles, financial analysis and budgeting. (R)
  • Must have a thorough understanding of (Oracle based) financial systems and Excel in addition to legacy Hyperion system, forecasting and financial analysis; experience with Hyperion Essbase or Planning. (R)
  • Detail oriented, with analytical skills, and the ability to identify issues and recommend solutions (R)
  • Ability to listen and communicate effectively, grasp complex concepts and situations quickly, maintain positive working relationships within the department and with professionals from other departments.  (R)
  • Experience influencing senior leaders to implement cost / effectiveness initiatives (R)
  • Ability to effectively organize, establish work priorities and meet deadlines (R)
  • Must be able to “think outside of the box” to create analyses that are relevant and actionable. (R)
     

Job Snapshot

Location US-NY-New York
Employment Type Full-Time
Pay Type Year
Pay Rate N/A
Store Type Health Care
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Company Overview

EmblemHealth

EmblemHealth is a local, neighborhood health plan that has served the New York City area and surrounding communities for more than 75 years. That’s the kind of experience that makes us unique. We’re proud to be one of the nation’s largest not-for-profit health plans, serving 3.1 million people who live and work across the New York tri-state area. Learn More

Contact Information

US-NY-New York
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Snapshot
EmblemHealth
Company:
US-NY-New York
Location:
Full-Time
Employment Type:
Year
Pay Type:
N/A
Pay Rate:
Health Care
Store Type:

Job Description

Summary:

  • Provide strategic guidance, lead, and manage EmblemHealth’s budgeting and forecasting processes by incorporating industry best practices; provide recommendations for cost saving strategies with department leads that would yield higher efficiency or lower costs to the company by performing deep analytic dives into the organizational data. 
  • Assist with developing EmblemHealth into a world class organization from the finance perspective by adding layers of analytics to all financial decisions and incorporating industry best practices to help guide the decisions.
  • Incorporate all existing and future financial reporting into the Oracle system; develop new reporting capabilities; help lead the effort in familiarizing the rest of the organization with its vast capabilities including training end users.
  • Evaluate and decide on proposed corporate expenditures.
  • Lead and oversee the department responsible for analyzing P&L analytics at all levels; support the business through regular meetings with department heads to discuss the impact of their respective budgets to business owners; and create detailed analyses of vendor spend by account and detailed analysis of FTE and associated personnel expenses. 

Responsibilities:

  • Lead and manage the corporate budget and forecast process for 125+ cost centers, including preparation, consolidation, distribution and revision of budgets, forecasts and related projects. 
  • Evaluate the leveraging of new technologies; make recommendations that will improve existing processes.
  • Coordinate regular meetings with department heads to review administrative expenses.
  • Provide recommendations and strategic insight to the business utilizing industry best practices to illustrate inconsistencies and offer recommendations to improve efficiency and effectiveness of underlying cost structure.
  • Monitor the monthly budget performance at both a detailed and consolidated level; utilize deep dive analytics to develop reports; provide recommendations on corrective actions or adjustments that are communicated to senior management.  Provide consultations to departments in preparing budgets, forecasts and improvement recommendations to allow functional leaders to meet corporate goals.
  • Manage and foster a team that creates value-added value analysis and develop operational strategies for their clients.  Provide leadership to ensure that production and quality of work meets team, department and corporate goals. Create a thorough support process and participate in day to day project management planning and scheduling, including business resource allocation to prioritized activities.
  • Encourage team members to develop new ways to present data, explain variances and think outside of the box. Encourage proper communication between each of the analysts and the business; develop new ideas and put them into action when appropriate. Perform other duties as assigned or required.

Job Requirements

Qualifications:

  • Bachelor’s Degree in Business Administration, Healthcare Administration, Finance, Accounting or related; Master’s preferred
  • 10+ years’ experience, including 8+ years of financial reporting/analysis and experience managing financial analysts. (R)
  • 3 – 5 years of health care experience. (P)
  • Must have a general understanding of health insurance. (R)
  • Understanding of accounting principles, financial analysis and budgeting. (R)
  • Must have a thorough understanding of (Oracle based) financial systems and Excel in addition to legacy Hyperion system, forecasting and financial analysis; experience with Hyperion Essbase or Planning. (R)
  • Detail oriented, with analytical skills, and the ability to identify issues and recommend solutions (R)
  • Ability to listen and communicate effectively, grasp complex concepts and situations quickly, maintain positive working relationships within the department and with professionals from other departments.  (R)
  • Experience influencing senior leaders to implement cost / effectiveness initiatives (R)
  • Ability to effectively organize, establish work priorities and meet deadlines (R)
  • Must be able to “think outside of the box” to create analyses that are relevant and actionable. (R)
     

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