Job Description
This role will function as the CFO for the Kentucky State Medicaid Health Plan, and will lead the respective markets’ ability to achieve its financial and strategic goals by managing and driving business actions and financial goals across the Plan and the Aetna Medicaid segment. The annual P&L responsibility for the Kentucky State Medicaid Health Plan is approximately $1.8 billion. The Plan CFO will:
1. Partner with the Kentucky Plan CEO and their senior management team to maintain financial and operational control of the business.
2. Lead a team responsible for managing the financial close, and planning and forecasting processes.
3. Leverage prior experience to ensure the quality and integrity of P&L/cost center owner level reporting, membership and/or expense forecasts, product reporting and balance sheet reporting.
4. Collaborate with constituent areas including Actuarial, Underwriting, Network and Medical Economics to execute on growth priorities.
Responsibilities:
1. Partner with the Kentucky State Medicaid Plan CEO and respective leadership team to execute business priorities and manage full P&L responsibility.
2. Drive results; demonstrates urgency and holds self and the team accountable for achieving high standards of performance and service
3. Lead the coordination and development of the Kentucky State Medicaid Plan financial budgets and forecasting tools/processes.
4. Identify emerging product/market trend vulnerabilities and opportunities through analysis; develop and implement action plans where necessary
5. Establish development of major action plans necessary for the Kentucky State Medicaid Plan and monitor implementation to seize competitive opportunities and/or respond to performance shortfalls/plan variances.
6. Identify, implement, monitor, and track effective medical cost analysis through coordination with medical directors, network management, actuaries, etc.
7. Partner with other financial disciplines, e.g., actuarial, Medical Economics, to assure rates with the state, product and risk alignment with business unit financial performance targets.
8. Lead financial analysis and recommendations in support of management’s evaluation of strategic and business initiatives.
9. Influence development of direct reports and broader team through effective coaching, mentoring and development planning
The successful candidate will have the ability to:
• Drive strategic business discussions with senior leadership team within the division and state health plans
• Encourage others through positivity, vision, confidence, challenge, and recognition
• Recognize that change is essential, set goals for change and lead purposeful efforts to adapt work that aligns with the state vision
• Influence people across the enterprise and execute strategic priorities
• Manage a team of people leaders and their teams and position each for future development and growth
• Resolve problems and influence decisions on business issues
• Communicate clearly and present appropriate level of information to senior leaders
• Understand when to raise issues to senior leaders and how to bring functional teams together to solve those issues
• Work independently of the Aetna Medicaid CFO and to know when to raise issues and get their involvement
• Ability to create accountability for oneself and others responsible for performance whether directly on the finance team or within the business unit
The successful candidate will have skill In:
• Financial management experience including strategic and business planning, accounting and financial analysis.
• Collaboration with the Medicaid CFO leadership team and ability to work towards shared goals.
• Work with functional areas to drive results
• Setting strategy and driving results
• Analytical reviews to identify issues and develop creative solutions
• Professional and executive presence
• Perform financial impact analysis for contracts/ vendors and support negotiations
Required Qualifications
• Minimum 10 years financial experience including strategic and business planning, financial planning, analysis, P&L, reporting or accounting
• Industry knowledge of Healthcare/managed care, insurance
• Leadership and people manager experience
• Project Management and Process Improvement experience.
• Travel 5-10% of the time. In-state travel requires use of personal vehicle. Have valid/active driver’s license and proof of vehicle insurance. Some travel out of state also anticipated for internal meetings.
COVID Requirements
CVS Health requires its Colleagues to be fully vaccinated against COVID-19 (including any booster shots if required), where allowable under the law, unless they are approved for a reasonable accommodation based on disability, medical condition, or religious belief that prevents them from being vaccinated.
If you are vaccinated, you are required to have received at least one COVID-19 shot prior to your first day of employment and to provide proof of your vaccination status within the first 10 days of your employment. For the two COVID-19 shot regimen, you will be required to provide proof of your second COVID-19 shot within the first 45 days of your employment. In some states and roles, you may be required to provide proof of full vaccination before you can begin to actively work. Failure to provide timely proof of your COVID-19 vaccination status will result in the termination of your employment with CVS Health.
If you are unable to be fully vaccinated due to disability, medical condition, or religious belief, you will be required to apply for a reasonable accommodation within the first 10 days of your employment in order to remain employed with CVS Health. As a part of this process, you will be required to provide information or documentation about the reason you cannot be vaccinated. In some states and roles, you may be required to have an approved reasonable accommodation before you can begin to actively work. If your request for an accommodation is not approved, then your employment may be terminated.
Preferred Qualifications
• Medicaid Product knowledge
• Master’s degree, CPA, or FSA preferred
• Degree in Finance, Accounting, Actuarial Science, or similar disciplines
Education
Bachelor’s degree Required
Business Overview
At CVS Health, we are joined in a common purpose: helping people on their path to better health. We are working to transform health care through innovations that make quality care more accessible, easier to use, less expensive and patient-focused. Working together and organizing around the individual, we are pioneering a new approach to total health that puts people at the heart.
We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an equal opportunity and affirmative action employer. We do not discriminate in recruiting, hiring or promotion based on race, ethnicity, sex/gender, sexual orientation, gender identity or expression, age, disability or protected veteran status or on any other basis or characteristic prohibited by applicable federal, state, or local law. We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.