Director of Financial Analysis
The Hilltop Institute at the University of Maryland, Baltimore County (UMBC) is seeking a Director of Financial Analysis. The ideal candidate will be knowledgeable about federal and state health care reimbursement and payment policies and have experience in performing managed care rate setting. The candidate will also possess a proven track record in leading client engagements and project teams and conducting financial and actuarial analyses using large administrative data sets.
Formed in 1994 through a unique collaboration between UMBC and the Maryland Department of Health’s Medicaid program, Hilltop conducts research and policy analysis to support health care financing and delivery system reform in Maryland and other states. Widely recognized for its expertise in Medicaid, Hilltop is at the forefront of national efforts to find data-driven solutions to complex problems facing state policymakers as publicly funded health care systems transition to new models that reward quality and value over volume.
Hilltop partners with the Department to develop risk-adjusted capitation payments for the nine health plans that participate in HealthChoice, Maryland’s Medicaid managed care program. HealthChoice currently enrolls about 1.5 million Marylanders with estimated capitation payments of $7 billion annually. During each annual rate setting cycle, Hilltop performs financial and actuarial analyses and provides policy guidance to the Department to support development and federal certification of capitated rates. Maryland’s rate setting process is highly regarded by federal officials, other states, and health plans for its rigor, transparency, and collaborative, interactive processes. To support rate development and other work, Hilltop maintains an extensive onsite data repository that includes Medicaid and Medicare administrative data, hospital discharge data, nursing home assessment data, and all-payer claims data.
UMBC is a dynamic public research university integrating teaching, research, and service to benefit the citizens of Maryland. The Baltimore Sun recognizes UMBC as one of the region’s top employers, with solid leadership, vision, and direction. UMBC is an institution that values diversity, promotes civic engagement, and supports work-life balance. The Hilltop Institute, one of the largest research centers on campus, engages in collaborative, data-driven research with UMBC faculty and provides research opportunities to graduate students. Hilltop staff enjoy the benefits of a university environment and are encouraged to take advantage of tuition remission to pursue skill-building course work and graduate degrees.
Working closely with the Maryland Department of Health, the incumbent manages development of capitation rates for health plans participating in HealthChoice, Maryland’s Medicaid managed care program. The incumbent serves on Hilltop’s senior management team and manages a small staff of analysts and programmers. For each HealthChoice annual rate setting cycle, responsibilities include:
- Analyze comprehensive financial reports from participating health plans and develop a base data set to be adjusted for anticipated changes in the economic environment, enrollment, and benefits and from which the state can reasonably project the future experience of participating health plans.
- Model the impact on capitated rates of proposed changes to eligibility rules and/or benefit packages, implementation of programs for special populations, and the addition of health plan quality incentives.
- Analyze and project trends in managed care enrollment, service utilization and costs, and provider fees in order to identify key cost drivers, assess rate impact, and propose strategies for cost containment and risk mitigation.
- Oversee the work of the consulting actuary, which includes development of estimates for managed care cost trends and certification of capitation rates in compliance with federal requirements.
- Keep abreast of state and federal managed care regulations and recommend substantive and procedural revisions for HealthChoice rate setting.
- In consultation with the state, manage the planning and logistics for public rate setting meetings with stakeholders.
- Other duties as assigned.
The Director of Financial Analysis is a senior position requiring subject matter and managerial expertise and personal initiative. The successful candidate must possess a) a master’s degree in finance, business administration, mathematics, statistics, actuarial science, or a related discipline and at least 10 years of relevant professional experience; b) a bachelor’s degree in finance, business administration, mathematics, statistics, actuarial science, or a related discipline and at least 12 years of relevant professional experience; or c) a bachelor’s degree, appropriate certification from the Society of Actuaries, and at least 12 years of relevant professional experience.
Hilltop is seeking these competencies in the successful candidate:
- A proven track record in applying principles of finance and statistical analysis and using large administrative data sets to estimate, model, and evaluate the impact of health care reimbursement and payment policies and perform rate setting for health insurance programs.
- Critical thinking and decision-making skills; the ability to methodically and strategically assess challenges and opportunities, make informed decisions and recommendations, and successfully implement decisions.
- The ability to nurture and enhance relationships within the UMBC community and externally with clients, sponsors, and other stakeholders.
- The ability to effectively communicate verbally and in writing.
- Demonstrable experience with cross-disciplinary project teams and supervision and development of staff.
- Demonstrated proficiency in Microsoft Word, PowerPoint, and Excel.
- Actuarial certification and knowledge of SAS is a plus.
Compensation and Benefits
Salary is commensurate with qualifications and experience. Full benefit package and tuition remission included.
Hilltop staff are currently working remotely due to the pandemic. This position has the option to continue to work remotely after Hilltop reopens. Relocation may not be necessary.
Resumes will be accepted until the position is filled, but for best consideration, send a cover letter (indicating Job # 493276), resume, and contact information for three professional references (in three separate attachments) by January 21, 2021, to the Director of Financial Analysis Search Committee at:
email@example.com (MS Word or PDF attachments required)
As required by the 1986 Immigration Act, be prepared to present acceptable documentation upon hire showing your identity and that you are a U.S. citizen or an alien who is authorized to work in the U.S.
UMBC is an affirmative action/equal opportunity employer.
December 7, 2020