Associate Tax Director

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This position reports directly to the Vice President of Tax. This position provides leadership to one professional staff person (level K). The position oversees all aspects of tax accounting, tax return preparation and filings, regulatory and financial statement reporting for tax, tax payments, and compliance with numerous federal, state, and national regulatory authorities such the IRS, NAIC, HHS, DOL, state DOI and DOR, Sarbanes-Oxley and the Financial Accounting Standards Board. Additionally, this position is responsible for licensing/ business registration/taxation and other financial services provided to the company’s growing portfolio of strategic investments such as Zaffre Health Plan Services, Indigo Insurance Services, Blue Benefit Administrators; external compensation reporting; health care reform accounting, reporting and payment.

This position is primarily responsible for the management of various internal and external audits; compiles, reports and files numerous complex annual compensation reports to federal and state revenue departments and regulators; initiates and manages contracted engagements with several external business and IT consulting firms; oversees compliance and regulatory reporting of the LM-10 Report with the US Department of Labor; and regularly provides financial and business expertise to the Company as needed for transactions, special projects and initiatives. This is a very dynamic and visible corporate position with areas of responsibilities that span enterprise-wide, over a variety of business, financial and functional accountabilities with room for future advancement within the organization.

Responsibilities

• Oversee the development, maintenance and integrity of the federal income tax reporting system regarding tax filings, statutory filings and financial statement reporting.
• Ensure all federal tax returns are prepared and filed timely in accordance with the Internal Revenue Code and IRS regulations.
• Oversee all federal income tax general ledger accounting, financial statement and annual statement presentation in accordance with Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles (SAP), as applicable.
• Lead the creation, implementation and compliance aspects of all tax accounting and reporting functions to ensure the system of internal controls complies with Sarbanes-Oxley requirements.
• Develop the annual financial plan and quarterly forecasts for federal income taxes, including impacts on net income, admitted and non-admitted assets, and statutory surplus.
• Develop and manage tools to report timely, accurate variance / trend analyses to the Vice President of Tax.
• Ensure that the corporate tax group develops and maintains necessary relationships to obtain information on changes in the business environment and/or product portfolio that impact tax outcomes for general ledger reporting and tax return preparation.
• Develop and document accounting allocation methods to ensure revenues and costs are properly split among BCBSMA entities for tax filing and financial reporting purposes (transfer pricing).
• Ensure compliance to internal BCBSMA policies as well as federal, state and BCBS Association guidelines and regulations.
• Lead all tax audit activities initiated by the IRS, the Division of Insurance, the federal Office of Personnel Management (for the Federal Employee Program) as well as the BCBSMA financial statement audits. Develop and maintain detailed workpapers to support all interim and annual tax financial reporting and tax filings.
• Manage the completion of real estate project cost segregation analyses to determine and document the appropriate tax, GAAP and Statutory accounting for capital costs associated with these projects.
• Support the mission of the strategic investments group by leading all licensing, business registration, and tax activities for several related party LLC’s.
• Research all state tax matters related to strategic investments, ensuring compliance with all governmental requirements while minimizing the enterprise’s financial risk.
• Develop tools for tracking all licensing, registration and tax issues in order to manage license and registration renewals and annual filings in accordance with state requirements; provide clear, concise periodic project reporting to business leads and senior leaders to keep them informed on compliance status.
• Lead all external regulatory employee compensation reporting as required by the IRS, the DOI, the Commonwealth’s Division of Public Charities and other agents as applicable. Work closely with internal and external compensation experts, legal and accounting personnel to ensure complete and accurate information is compiled and reported.
• Complete the annual filings for the US Department of Labor’s Labor-Management Reporting and Disclosure Act. Ensure proper internal controls exist and are observed to remain compliant with the LMRDA.
• Serve as key participant in all financial aspects of state and federal health care reform (HCR) initiatives. Translate complex regulatory language and rulings in regard to insurance industry and Blue Cross Blue Shield-specific responsibilities for medical loss ratio, insurer fees, and numerous other taxes and fees associated with reform laws and regulations.
• Ensure the Tax Group possesses and receives adequate training on information technology tools that allow it to carry out its responsibilities for tax filings and other financial responsibilities as needed.
  
  

QUALIFICATIONS (Knowledge, Skills, Abilities And Values)

• Thorough understanding of federal and state tax concepts, laws and regulations, GAAP and Statutory accounting theory and practice, expense management
• Proven management, leadership and problem-solving skills
• Ability to acquire an in-depth knowledge of BCBSMA Product Portfolio
• Strong interpersonal skills to effectively partner with broad range of functional teams/areas
• Strong experience using PCs and knowledge of related software (i.e. Access databases, Microsoft Word, Excel, Oracle, OneSource)
• Excellent verbal/written communication and organizational skills
• Ability to make effective business decisions.
• Ability to develop accurate financial information and present it succinctly to key business leaders.
• Excellent analytical/quantitative skills, ability to capture and synthesize large amounts of data, identify business trends, and derive sound business solutions to complex issues. Keen negotiating skills.
• Ability to work with, and reconcile between, multiple accounting methodologies (i.e., GAAP, Statutory and U.S. Federal income tax).
• Demonstrated knowledge of health care insurance industry, delivery systems, and expense / utilization data.
• Strong project management skills with extensive capabilities to manage multiple projects under strict and compressed deadlines.
• Extensive experience in dealing with audit and/or regulatory inquiries and issues.
  
  

Education/Relevant Experience

• BA/BS required in Accounting or Finance.
• 10 years of professional, financial accounting/analysis with focus on tax, corporate accounting and expense analysis.
• 7 years in a supervisory/management role.
• CPA preferred
• Demonstrated success in project management, focus on managing and implementing financial applications
• Must have a strong working knowledge of tax, accounting, managed care and health insurance principles.
  
  

Minimum Education Requirements

High school degree or equivalent required unless otherwise noted above

Location

Boston

Time Type

Full time

Salary Range: $164,070.00 - $200,530.00

The job posting range is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee’s pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, performance, shift, travel requirements, sales or revenue-based metrics, and business or organizational needs and affordability.

This job is also eligible for variable pay.

We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and a suite of well-being benefits to eligible employees.

Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.

WHY Blue Cross Blue Shield of MA?

We understand that the confidence gap and imposter syndrome can prevent amazing candidates coming our way, so please don’t hesitate to apply. We’d love to hear from you. You might be just what we need for this role or possibly another one at Blue Cross Blue Shield of MA. The more voices we have represented and amplified in our business, the more we will all thrive, contribute, and be brilliant. We encourage you to bring us your true colors, , your perspectives, and your experiences. It’s in our differences that we will remain relentless in our pursuit to transform healthcare for ALL.

As an employer, we are committed to investing in your development and providing the necessary resources to enable your success. Learn how we are dedicated to creating an inclusive and rewarding workplace that promotes excellence and provides opportunities for employees to forge their unique career path by visiting our Company Culture page. If this sounds like something you’d like to be a part of, we’d love to hear from you. You can also join our Talent Community to stay “in the know” on all things Blue.

At Blue Cross Blue Shield of Massachusetts, we believe in wellness and that work/life balance is a key part of associate wellbeing. For more information on how we work and support that work/life balance visit our "How We Work" Page.

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