Financial Assurance Manager

Job Description

Job Description

Our client, a large NP in Washington, DC is looking for a Financial Assurance Manager to join their accounting team. This is a new position, and this Financial Assurance Manager will be responsible for overseeing the financial assurance processes, ensuring compliance with regulatory requirements, and ensuring the timely completion of all financial audits. The Financial Assurance Manager is responsible for coordinating and managing the various financial audits of the pensions and healthcare trusts. This position is also responsible for ensuring the timely filing of annual Forms 5500 and 990 for each trust, preparing documents required under the MOU with OSM, and recommending improvements to financial processes.

KEY RESPONSIBILITIES :

• Lead and manage financial assurance audits with external auditors, including annual financial statements for 8 separate trusts, special annual agreed-upon procedures (AUP), Centers for Medicare Services (CMS), and ad-hoc audits involving various federal agencies.
• Develop and implement financial assurance policies and procedures to ensure alignment with regulatory standards and adherence to internal controls.
• Manage the preparation of external actuarial reports for all 8 trusts, coordinating data compilation from finance, research, and investment teams.
• Ensure the accurate and timely submission of required filings, including Forms 990 and 5500, OSM submissions, PBGC reports, and PCORI filings.
• Reconcile beneficiary lists for the Combined Benefit Fund (CBF), 92 Benefit Plan, and 93 Benefit Plan, preparing reports to be filed with OSM by designated deadlines.
• Conduct the required time study for allocations every three years, including data collection, analysis, and reporting to the CFO, and manage the audit for external verification of updated allocations.
• Maintain a detailed audit calendar, ensuring the department is well-prepared for upcoming audits, regulatory filings, and legal reviews.
• Work closely with internal departments and external auditors to support financial operations and ensure compliance. Participate in cross-functional initiatives.
• Supervise the Assurance Accountant and collaborate with finance staff to maintain audit readiness and ensure compliance with regulations and standards.

The ideal candidate for this Financial Assurance Manager role will have an ACTIVE CPA, 5+ years of audit experience coming out of a Big 4 or large regional firm, at least 3 years of supervisory, strong organizational and problem-solving skills as well as exceptional communication and interpersonal skills. This role is 3 days / week in the office in DC and the comp range for this position is 130-155K in base salary plus full benefits. To apply to this Financial Assurance Manager role please do so through this posting or reach out to Caren Bromberg Bach on LinkedIn or call Caren Bach at 301.965.9035.

ACTIVE CPA, 5+ years of audit experience coming out of a Big 4 or large regional firm, at least 3 years of supervisory, strong organizational and problem-solving skills as well as exceptional communication and interpersonal skills.