Blue Cross and Blue Shield of Rhode Island Hiring for Sr Payroll & Financial Analyst at Providence, RI  Full Time

Schedule: Hybrid
Compensation: $80,100 – $120,200

Jump into the new world of health insurance:

At Blue Cross & Blue Shield of Rhode Island (BCBSRI), our business is healthcare. But our focus is on improving lives. Be part of a team that is large enough to make a difference but small enough to be innovative. Work in a rapidly changing field. Take a chance to be creative. Move outside the status quo. Shape new ideas with the power of a national brand behind you.

Join others who know diversity is strength:

We appreciate and celebrate everything that makes us unique: age, national origin, citizenship status, perspectives, experiences, physical or mental disability, military status, race, ethnicity, religion, gender, sexual orientation, gender identity and/or expression. Our diversity strengthens us as an organization and helps us better serve an increasingly diverse Rhode Island population.

Why this job matters:

Provide vendor management and oversight to outsourced payroll and payroll tax vendors. Ensure performance aligns with service level agreements. Monitor tax filings and reconcile payroll taxes to the general ledger and book journal entries. Conduct quantitative analyses of information affecting budgets, expenses, and other financial projects. Analyze financial data and prepare financial projections using mathematical modeling. Prepare analytical reports for financial planning team. Identify process improvement opportunities and make recommendations to management.

What you will do:

• Monitor and manage outsourced payroll and payroll tax vendor performance and service level agreements. Identify process improvement opportunities and make recommendations to management.
• Develop payroll and tax timeliness and accuracy metrics to measure the impact of continuous improvement efforts over time.
• Monitor tax filings and reconcile payroll taxes to the general ledger and book journal entries. Reconcile payroll withholding, accruals and bank settlement activity in conjunction with outsourced payroll and tax service providers.

• Conduct quantitative analyses of information affecting budgets, expenses, and other financial projects.
• Analyze financial data to provide information regarding financial trending to decision-makers. Analyze decision alternatives through quantitative means. Select and apply appropriate theory, methods and mathematical models and modification of methods.
• Perform actual vs budget analysis on a monthly, quarterly, and annual basis. Prepare ad-hoc financial estimates and monitor budget and payroll systems to ensure alignment for reporting.

• Prepare financial projections using 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.
• Prepare operating expense reports and detailed written analysis to explain and highlight actual to budgeted costs.
• Accountable for Enterprise level FTE reporting and Tracking including ad hoc analyses and scenario planning. Including, but not limited to FTE budget to Actual, Vacancy Reporting, and analysis of Open Requisitions vs Budgeted Vacancies.
• Prepare budget to actual/forecast reporting for enterprise employee benefits.
• Support the maintenance of the current year’s flexible budgets in budget system. Maintain detailed back up and clearly documenting changes

• Support Financial Planning team with department initiatives and projects.
• Perform other duties as assigned.

What you need to succeed:

• Bachelor’s degree in Business Administration, Mathematics, Statistics, Finance, Economics, Accounting; or an equivalent combination of education and work experience
• Five to seven years’ experience in payroll functions
• Five to seven years’ experience in quantitative business analyses or mathematical modeling
• Working knowledge of accrual accounting and general ledger reconciliation
• Financial statement analysis
• Managerial accounting
• Mathematical theory and methods and their appropriate application required
• Excellent problem solving/judgment skills, and high level of attention to detail and accuracy
• Strong organizational skills, and the ability to work under pressure
• 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 communications skills
• Good problem solving skills
• Ability to interface with employees at all levels
• Excellent organizational skills and ability to successfully prioritize multiple tasks
• Ability to handle multiple priorities/projects

Extras:

• Vendor management experience
• Certified Payroll Professional Certificate.
• Experience with Workday

Location:

BCBSRI is headquartered in downtown Providence, conveniently located near the train station and bus terminal. We actively support associate well-being and work/life balance and offer the following schedules, based on role:

• In-office: onsite 5 days per week
• Hybrid: onsite 2-4 days per week
• Remote: onsite 0-1 days per week. Permitted to reside in the following states, pending approval from the Human Resources Department: Arizona, Connecticut, Florida, Georgia, Louisiana, Massachusetts, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, Virginia

• Blue Cross & Blue Shield of Rhode Island, 500 Exchange Street, Providence, Rhode Island, United States of America