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-paced environment with multiple projects/stakeholders which includes same-day turnaround for many complex and nuanced requests
• Experience translating business needs to data requirements

The Team

Milliman is one of the leading experts in healthcare financing and delivery. We advise clients on a wide range of issues-from assessing the impact of healthcare reform on organizations or populations to streamlining operations while advancing the quality of patient care. Our consulting work is supported by a powerful toolkit of data analytics solutions and informed by the most trusted, comprehensive set of cost guidelines in the industry.

Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance.

Location: This role is based out of the Milliman office in Chicago, IL, but candidates hired into this role may work remotely anywhere in the US or in the office on a weekly basis with flexible work arrangements.

The expected application deadline for this job is June 2, 2025.

Salary: The salary range is $73,000 - $177,000, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc. If overall experience is 5 years the range would be $73,000 - $144,000; for experience of 8 years or greater, the range would be $87,000 - $177,000.

Benefits:

At Milliman, we focus on creating an environment that recognizes - and meets - the personal and professional needs of the individual and their family. We offer competitive benefits which include the following based on plan eligibility:

• Medical, dental and vision coverage for employees and their dependents, including domestic partners
• A 401(k) plan with matching program, and profit-sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• A minimum of 10 paid holidays
• Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

#LI-CS1 #Remote

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)