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Sr Financial Policy Advisor

Employment type: 
Full time
Remote Position: 
Required degree level: 

Develops, implements and administers Federal Employee Program (FEP) financial policies to ensure FEP compliance with the requirements of the Federal Acquisition Regulation, the Federal Employee Health Benefit Acquisition Regulation, the applicable Cost Accounting Standards, the Financial Accounting Standards, and the terms of the FEP contract, C.S. 1039, as well as to ensure the integrity and accuracy of FEP financial information. Provides guidance, interpretation and resources related to FEP financial policies to the FEPDO, BCBSA, and Plans, as well as other parties, as appropriate.

Develops, implements and administers FEP Financial policies and procedures for the FEPDO and Plans to assure that accounting and contract administration requirements are in conformity with the applicable federal contracting requirements, as well as any other regulatory requirements. Ensures that FEP financial policies are integrated and aligned within BCBSA and with Plans and appropriate parties are involved as necessary in their development and implementation.

Acts as a key advisor to Plans, senior management, and other parties/entities on all aspects of financial policies, providing advisory and interpretative services and guidance to FEP and local Plan staff utilizing CS1039 and the SBP brochure as source documents. Chairs the Allowability Committee addressing chargeable, allocable and allowable costs to the FEP Program. Documents recommendations and determines policy implications. Conducts research, as necessary, to clarify FEP's interpretation of specific regulations.

Ensures the timely and efficient dissemination and communication of financial policies to Plans and other interested parties to ensure there is uniform application for compliance with requirements and for improving Program effectiveness and efficiency. Utilizes and compiles appropriate source documents, including, Special Information Bulletins, Financial Policy and Procedures Bulletins and the FEP Administrative Manual, to deliver policy information, ensuring that appropriate parties are included in the development of these. Creates and utilizes various communication and multi-media vehicles for delivering up-to-date and readily accessible policy information for the Plans and delivers training, as appropriate, to ensure understanding and reinforce compliance.

Monitors and/or researches proposed standards and regulations issued by regulatory bodies and identifies those that may have an impact on FEP's financial operations and practices. Analyzes the impact on FEP and identifies alternative approaches to ensure FEP compliance. Keeps FEP senior management apprised of new developments and critical information related to compliance and necessary operational changes.

Serves as technical advisor on accounting issues and by acting as a technical reviewer of financial statements.

Supports CS1039 and vendor contract negotiations by preparing and providing analyses of financial data. Recommends negotiation tactics and amended contract language, where appropriate, considering all financial implications of suggested changes.

Supports special projects by designing and preparing analyses of cash flows, administrative expenses, financial position and other financial metrics. Draws conclusions from the data and recommends specific action to management.


Bachelor's degree in Business, Finance, or related field, or equivalent years of experience

Masters Degree


Prefer Certified Public Accountant (CPA) or pursuing CPA


Five years of progressive experience in all aspects of financial policy formulation and administration in a government contracting environment.

Prior experience working with federal health insurance contracts.


Knowledge of federal contract accounting - FAR, FEHBAR, CAS, GAAP, and ASBCA case law, contract administration requirements, and experience researching compliance requirements and issues related to these.

Knowledge of the BCBS system and the accounting practices at BCBS Plans is highly desired, as is a basic understanding of legal and actuarial principles.

Advanced knowledge of Federal Acquisition Regulations and Cost Accounting Standards

Strong research skills as well as the ability to perform independent research and effectively present findings and conclusions to key stakeholders.

Ability to effectively translate and communicate the technical policy implications of regulatory compliance in an understandable way to ensure its use and appropriate application by others.

Interpersonal skills, with the ability to interact effectively with senior BCBSA and Plan management, as well as with outside counsel and consultants, representatives from the Office of Personnel Management, and a variety of other internal/external customers. Negotiation skills.

Technical proficiency in information technologies (e.g., Microsoft Office).

Analytic skills

Advanced problem solving skills

Time and project management and Project Team Leadership skills

Financial system skills

Excellent Communication skills and able to present to Sr. Director levels

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