Healthcare Financial Analyst (Health Research Team)

Milliman is seeking an experienced Financial Analyst to join our Health Research Team (HRT). We are looking for someone who is a great communicator, team player, and who can work independently and collaboratively with the entire team and internal stakeholders. The Finance Analyst will play a critical role in managing all aspects of the finances including performing financial analysis, budgeting and forecasting, reporting, compliance and risk management, invoicing, overseeing internal transfers as well as identifying and evaluating opportunities for process improvements.

Who We Are 

The Health Research Team supports Milliman products and practices in a variety of capacities. These include but are not limited to financial functions, client support, project management, data engineering, and data analytics services. As a shared service team, we pride ourselves in delivering high quality, timely support to Milliman's clients, consultants, and leadership teams.

Job Responsibilities

Financial Analysis:

• Maintain budget workbook analyzing cash flow and transactions on a monthly basis
• Evaluate financial performance by comparing and analyzing actual results with forecasts and budgets
• Develop financial models to project future revenues, expenses, and cash flows
• Perform scenario analysis to assess the potential impact of different business strategies
• Create and maintain complex Excel spreadsheets for financial analysis and reporting

Budgeting and Forecasting:

• Assist in the preparation of annual budgets and periodic forecasts
• Monitor budget performance and provide insights on variances
• Collaborate with various departments to gather and validate budget inputs

Reporting:

• Prepare detailed financial reports and presentations for senior management and stakeholders
• Generate monthly, quarterly, and annual financial reports
• Ensure accuracy and timeliness of financial reporting

Compliance and Risk Management:

• Ensure compliance with financial regulations and standards
• Identify financial risks and develop strategies to mitigate them
• Assist with internal and external audits

Invoicing:

• Manage the invoicing process, ensuring timely and accurate billing to clients
• Coordinate with the accounts receivable team to track payments and resolve any invoicing discrepancies
• Maintain records of invoices, payments, and account statements

Internal Transfers:

• Oversee internal financial transfers between departments or business units
• Ensure proper documentation and authorization for all internal transfers.
• Monitor and reconcile internal transfer accounts to maintain accurate financial records

Process Improvement:

• Identify and evaluate opportunities for process improvements in financial operations.
• Develop and implement strategies to enhance efficiency, accuracy, and effectiveness of financial processes
• Collaborate with cross-functional teams to streamline workflows and eliminate redundancies
• Monitor the impact of implemented improvements and make necessary adjustments

Minimum requirements

• Bachelor's degree in Finance, Accounting, Economics, or related field
• 5+ years of experience as a financial analyst or similar role
• Advanced knowledge of Excel (Experience creating complex formulas and models with large amounts of data in various formats
• Proficiency in financial modeling and data analysis
• Excellent communication and presentation skills
• Attention to detail and accuracy
• Ability to work independently and as part of a team
• Proficiency in Microsoft Word, Outlook, and PowerPoint
• Strong analytical and quantitative skills

Competencies and Behaviors that Support Success in this Role 

• Financial acumen and business insight
• Strong organizational and time management
• High level of integrity and professionalism
• Knowledge of invoicing processes and accounts receivable management
• Understanding of internal financial transfers and reconciliation
• Ability to identify and implement process improvements
• Strong project management skills
• Strong programming skills in languages such as SQL, Python, and VBA
• Experience working in Databricks
• Experience in BI tool development, such as Poer BI, Tableau, or similar tools
• Comfortable working in a fast-pace