Accounting Manager at Medica

Madison, Wisconsin, United States -

Full Time

Start Date

Immediate

Expiry Date

25 Jun, 26

Salary

133245.0

Posted On

27 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Cost Accounting, Expense Allocation, Regulatory Compliance, Internal Controls, Financial Accuracy, Audit Readiness, GAAP, General Ledger Implementation, Financial Close, Accruals, Journal Entries, Reconciliations, People Leadership, Cross-functional Collaboration, Analytical Skills, Problem-Solving

Industry

Insurance

Description

Medica is a nonprofit health plan with more than a million members that serves communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver personalized health care experiences and partner closely with providers to ensure members are genuinely cared for. We're a team that owns our work with accountability, makes data-driven decisions, embraces continuous learning, and celebrates collaboration — because success is a team sport. It's our mission to be there in the moments that matter most for our members and employees. Join us in creating a community of connected care, where coordinated, quality service is the norm and every member feels valued. The Admin Expense Accounting Manager is responsible for overseeing cost accounting and administrative expense allocation for a health insurance organization with multiple lines of business. This role ensures accurate, compliant, and timely allocation of administrative expenses across products and legal entities, supports regulatory reporting, and maintains strong internal controls. The manager partners closely with FP&A, actuarial, operations, and compliance teams to ensure financial accuracy, transparency, and audit readiness. Key Accountabilities * Cost Accounting & Expense Allocation * Design, maintain, and oversee administrative expense allocation methodologies across lines of business (e.g., Commercial, Medicare Advantage, Medicaid, ACA). * Ensure allocation methodologies are consistent, supportable, and compliant with regulatory requirements (e.g., NAIC, CMS, state DOI). * Review and approve monthly administrative expenses, accruals, cost allocation calculations, journal entries, and reconciliations. * Partner with FP&A and actuarial teams to align cost allocations with budgeting, forecasting, and pricing assumptions. * Maintain documentation of allocation methodologies, assumptions, and controls to support audits and regulatory reviews. * Develop and maintain capitalization policies in accordance with GAAP * Key contributor to general ledger implementation activities Financial Close & Reporting * Manage cost accounting activities within the monthly, quarterly, and annual close processes. * Ensure expenses are recorded in the proper period and allocated accurately across lines of business and legal entities. * Support preparation of management reports, regulatory filings, and statutory financial statements. * Ensure assets, including internally developed software, are capitalized in compliance with policy and depreciation is accurate Compliance, Controls & Audit Support * Maintain strong internal controls to mitigate financial and operational risks * Support internal and external audits, including preparation of schedules, documentation, and audit responses. * Ensure compliance with healthcare‑specific regulatory requirements related to administrative cost reporting. * Identify control gaps and lead remediation efforts as needed. Leadership & Collaboration * Lead, mentor, and develop staff. * Establish clear goals, performance expectations, and development plans for team members. * Collaborate cross‑functionally with Procurement, FP&A, Actuarial, IT, Compliance, and Operations. * Serve as a subject matter expert on administrative expenses cost allocation Required Qualifications * Bachelor’s degree in Accounting or related field. * 5+ years of progressive accounting experience, including cost accounting * Strong knowledge of expense accruals, expense allocation methodologies and financial controls. * Experience with a mid to large size organization * Experience managing month‑end close and supporting audits. * Proficiency with ERP systems (e.g., SAP, Oracle, Workday, PeopleSoft) and advanced Excel skills. Preferred Qualifications * CPA or CMA designation. * Experience in health insurance, managed care, healthcare services, or a highly regulated environment. * Experience with statutory accounting and regulatory reporting (NAIC, CMS, state DOI). * Experience supporting multiple lines of business or legal entities. * Familiarity with shared services or intercompany accounting models. * Experience driving process automation or system implementations in cost accounting (specifically workday). Key Competencies * Strong analytical and problem‑solving skills * Attention to detail with ability to see the “big picture” * Clear and effective communication skills * Ability to manage competing priorities in a deadline‑driven environment * Proven people leadership and cross‑functional collaboration * High ethical standards and commitment to compliance This position is an Office role, which requires an employee to work onsite, on average, 3 days per week. We are open to candidates located near one of the following office locations: Minnetonka, MN or Madison, WI. The full salary grade for this position is $88,800 - $152,300. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $88,800 - $133,245. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data.  In addition to base compensation, this position may be eligible for incentive plan compensation in addition to base salary. Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees. The compensation and benefits information is provided as of the date of this posting. Medica’s compensation and benefits are subject to change at any time, with or without notice, subject to applicable law. Eligibility to work in the US: Medica does not offer work visa sponsorship for this role. All candidates must be legally authorized to work in the United States at the time of application. Employment is contingent on verification of identity and eligibility to work in the United States. We are an Equal Opportunity employer, where all qualified candidates receive consideration for employment indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.

Responsibilities

The Admin Expense Accounting Manager oversees cost accounting and administrative expense allocation across multiple lines of business and legal entities, ensuring accuracy and compliance with regulatory requirements. This role involves designing allocation methodologies, reviewing financial entries, supporting regulatory reporting, and maintaining strong internal controls.