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FEP Senior Accountant

US IL Chicago N. Michigan
Employment type: 
Full time
Remote Position: 
Required degree level: 

The Sr FEP Accountant role will be accountable for a broad range of accounting support as necessary to ensure the delivery of accurate and timely financial services to the FEP Program, BCBSA leadership and member Plans. Financial services include: 1) facilitating the completion of audit engagements for the purpose of presenting audited financial statements to FEP, OPM, administrators and applicable regulatory agencies 2) accurate and timely recording and reporting of periodic financial results 3) aggregation, analysis and presentation of financial data 4) additional services as needed to meet evolving business needs. This role performs advanced technical and analytical processes in the area of accounting and cash management for the BCBSA Federal Employee Program. Subject matter expert (SME) to other accounting staff relative to complex transaction processing and financial reporting. Reviews and evaluates procedures to ensure efficiency in month-end close process, and interface between the sub-systems and the general ledger.

Policy and Internal Control and Contract Compliance -

Supports daily management of all daily operational accounting and reporting functions of the BCBSA Federal Employee Program.

Contributes to oversight and adherence to financial policies, procedures and practices to ensure adequate internal controls for the safeguarding of the FEP and affiliated entity assets. Verifies accuracy of information and ensures that records are in compliance with appropriate standards and regulations. Contributes to sound overall management decisions and business practices.

Serves as primary contact to resolve variances related to inter-company liabilities and receivables (Benefits Payable). Partner with Plan Finance staff and management to review and assess complex accounting situations and to bring resolution to related issues. Provide guidance to Plans on proper treatment of FEP accounting transactions. Coordinate and lead Plan meetins to train new Plan staff and to work with the respective accounting teams to understand and address issues. Document and understand Plan financial processes to facilitate overall understanding. Regularly communicate Plan issues and progress to management. Complete Benefits Payable GL account reconciliation on a timely basis.

Ensures accounting policies, procedures and methods are consistent with current accounting pronouncements (GAAP), Government Cost Accounting Standards (CAS) or approved contract accounting practices and requirements.

Contributes to the maintenance of effective system of internal controls, including the development of financial policies and procedures and maintenance of account reconciliations.

Evaluates and responds to questions and issues regarding compliance with established accounting policies and procedures to ensure that internal customers comply with the policies and procedures, and make recommendations for increasing compliance.

Serve as backup for the daily processing of FEP financial transactional data (daily claims, Plan invoices, other adjustments, etc.).

Financial Reporting -

Contributes to management of monthly close processes and produces Fiscal Accounting Statements & Annual Accounting Statements (AAS) for FEP. Prepares and/or oversees the preparation of monthly interim financial reports including budgets and financial forecasts, review and approves all monthly reconciliations and journal entries.

Plans and performs day-to-day FEP reporting tasks to include timely and accurate journal postings, as well as evaluating and ensuring the application of appropriate accounting treatment. Responsible for all monthly close activities, including journal entries and documentation of anomalies and/or specialized accounting situations and preparation of detailed account reconciliations, as well as complex reports and analyses.

Assists manager in compiling Annual and Fiscal financial packages, including support schedules and footnotes. Complies with ad-hoc requests to analyze financial results, data, and other information based on business requirements, to ensure appropriate information is captured, available and understandable to management, auditors or other users. Communicates with Plans as needed to gather or share pertinent financial information.

Financial Analysis -

Determines and recommends necessary financial actions for the various programs based on financial analysis and/or research of various activities, operating results, business problems, and/or technical accounting, tax, and financial issues.

Assists in the design of new financial reports utilizing PeopleSoft Financial System. Prepares and conducts research and advanced analysis of information, to facilitate report design. Provides first level analysis to various reporting issues across multiple financial systems.

Works to identify trends, risk areas, and other critical information that can be used by internal and external customers as a source of information and/or a basis for business and systems decisions. Provides explanations and support to Plans, as needed, related to financial reporting.

Client Service Delivery

Coordinates effective financial services to BCBSA Divisions and Departments through partnership with Financial Planning Client Service Teams.

Provides support to enable Client Service teams to operate at a high level, staying consistently relevant to the business needs of the Client as well as the financial stewardship role of the Finance Division.

Leads team culture of continuous improvement through the development and delivery of client ready solutions, continuously reducing the effort required by both Finance and internal customers.

Aligns resources and prioritizes work to balance efficiency with customer value when designing work processes. Builds the Finance Division's and BCBSA's financial knowledge and expertise to achieve existing and emerging business objectives.

Process Improvement

Identifies and recommends areas for improvement in FEP's financial processes by continually keeping abreast of internal and external accounting trends and operations. Acts as key contact to resolve operational problems in financial activities, reviewing and recommending process changes, as necessary. Provides training and guidance to other Accounting and Reporting staff, in determining appropriate courses of action, proper accounting and accurate reporting of FEP financial data. Prepare departmental responses and communications to Plans, as needed.


Bachelors Degree


Certified Public Accountant (CPA)


Five years of accounting experience with a minimum of three years in a financial reporting or financial reporting role performing all aspects of the monthly close process and experience navigating accounting software (preferably PeopleSoft) effectively,

Two or more years of audit experience with top tier national public accounting firm.

Two or more years serving as a lead accountant in a health care or health insurance organization.


Proficient in PeopleSoft, including financial applications, and MS Office, including high Excel proficiency.

Written and verbal communication skills, with the ability to discuss complex accounting issues with senior management, auditors, and Plan management, as well as an audience with a non-financial background.

Ability to understand complex accounting transactions, and to apply GAAP and non-GAAP standards.

Ability to meet tight deadlines, thrive in a matrix reporting environment and manage multiple tasks efficiently.

People Management


Make an impact on healthcare in America. A career with Blue Cross Blue Shield Association allows you to be part of the foundation that supports the 35 Blue Cross and Blue Shield companies nationwide, while protecting and strengthening the Blue Cross Blue Shield brand. Our work is helping provide greater access to cost-effective healthcare, improve the health of America and build stronger communities. With a commitment to diversity, equity and inclusion, we celebrate different cultures, languages, backgrounds and experiences while striving to advance health equity, and we want you to join Team BCBSA.

Vision Accommodations, Hearing Accommodations, Neurodiversity, Learning, Mental Health, Mobility