Financial Analyst – Indianapolis Health

13-Indianapolis Indianapolis, IN 46204, USA

Overview

Milliman's Indianapolis Health practice is seeking a Financial Analyst to support our consulting work with Medicaid state agencies. As a Financial Analyst, you will have an opportunity to work with a multi-disciplinary team to analyze cost/expense reporting for healthcare and human service entities, including state Medicaid agencies, managed care organizations, healthcare providers, and child welfare organizations. Analysis will involve comparing utilization, service expense, revenue, and administrative expenses across types of services, lines of business, and rate cohorts.

This role will focus on cost reporting and rate setting projects; however, duties include supporting projects with a wide range of quantitative and qualitative analysis, including program research and design. Successful financial analysts will be able to understand and glean insight from the financial data that will help Medicaid state agencies in managing their programs efficiently and making informed policy and program decisions.

They should also be able to communicate insights in a clear and professional manner. This role is part of a dynamic client delivery team and offers mentorship from experienced colleagues.

Responsibilities

• Collect, review, and provide feedback on cost and other financial reports submitted by third-party entities serving health and human service agencies
• Evaluate cost and other financial reports for compliance with provided instructions and applicable regulatory guidance
• Perform reconciliation of cost reports relative to a general ledger, encounter data, and/or audited financial statements
• Recognize and identify reporting errors and develop proposed solutions
• Communicate results to internal stakeholders, verbally and written, within all levels of our organization
• Perform ad-hoc reconciliations and work on special projects, as required
• Work both independently and collaboratively on projects
• Ensure quality assurance and peer review are completed on all client deliverables

Qualifications

• Foundational knowledge of accounting/financial statements and managerial/cost accounting for healthcare entities
• Understanding of insurance concepts such as reserving and premium rate setting
• Understanding of health economics concepts such as medical loss ratio, underwriting margin, cost and utilization metrics
• Experience with Microsoft Excel or other similar software in performing quantitative analysis
• Basic coding ability in one or more languages (e.g., SAS, R, SQL) with the desire to learn others
• Strong written and oral communication skills
• Ability to utilize critical thinking, exhibit problem solving capabilities, and demonstrate learning agility
• Organizational and time management skills, ability to prioritize and perform effectively in a fast‑paced, deadline‑driven environment
• Basic knowledge of Gen AI tools, how to utilize AI to enhance productivity, and potential ethical considerations or concerns

Required

• Bachelor's degree in accounting, finance, business management, or a related field of study
• Advanced proficiency in Visual Basic for Applications (VBA) with a demonstrated ability to write, debug, and optimize complex macros and automation scripts, particularly within Microsoft Excel

Preferred

• 1 to 3 years of full-time professional work or Internship experience in financial analytics, cost reporting, or related
• Master’s degree in accounting, finance, business management, or a related quantitative field
• Experience working within a health-related company, and/or consulting firm environment(s)

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.

The Team

The Indianapolis Health Practice is strategically structured to serve state Medicaid agencies and other health and human services agencies. The Financial Reporting team works in close collaboration with professionals from our core state Medicaid teams to best serve each of our state clients’ unique needs. As a new addition to our team, you will work in a matrix environment learning from seasoned consultants on a…