Senior Manager of Statutory Accounting, Clover Health
$130-175k
= Employee Stock Purchase Plan
Medicare provider
Be an early applicant
Medicare provider
501-1000 employees
Be an early applicant
$130-175k
= Employee Stock Purchase Plan
501-1000 employees
Company mission
To improve the quality of life of our members and physicians by reducing doctor-insurer friction and increasing visibility into the health of each patient, leading to improved care.
Role
Who you are
- You have 8-12 years of accounting experience, with a strong emphasis on statutory accounting in a regulated insurance environment, preferably within a Medicare Advantage plan
- You have a CPA designation and expertise in statutory accounting principles (SAP) and GAAP
- You have demonstrated experience leading statutory reporting functions, including NAIC reporting and CMS regulatory filings
- You have experience managing cross-functional projects and implementing process improvements to streamline financial reporting processes
- You possess exceptional analytical skills and the ability to translate complex financial data into actionable insights for senior leadership
- You are adept at working with financial systems such as Sage Intacct or similar ERP systems, and have advanced proficiency in Excel and data analysis tools
- You have strong communication and leadership skills, with a proven ability to influence cross-functional stakeholders and mentor the senior accountant
What the job involves
- We are seeking a strategic Senior Manager of Statutory Accounting to lead NAIC filings and regulatory reporting for our Medicare Advantage plans, ensuring compliance with state regulations and CMS requirements.
- This role combines technical accounting expertise, advanced analysis, and cross-functional collaboration to drive process improvements and strategic financial outcomes
- Oversee NAIC Quarterly and Annual Statements, ensuring timely and accurate reporting to regulatory bodies
- Manage statutory close processes, maintaining accurate and complete financial statements and filings
- Lead GAAP-to-SAP financial reporting integration, ensuring alignment with stakeholders
- Implement scalable process improvements to enhance statutory reporting accuracy and compliance
- Collaborate with Treasury on RBC calculations and strategic transactions
- Provide technical guidance to accounting staff, building statutory expertise and succession depth
- Manage audits and regulatory inquiries, maintaining compliance with statutory accounting principles
- Identify automation opportunities to optimize statutory reporting processes
- Develop and document key controls for regulatory compliance and internal policy adherence
- Drive special projects related to statutory accounting and financial reporting
- Success in this role looks like:
- Accurate and timely completion of statutory filings, achieving zero late submissions or material audit findings within the first 90 days
- Implementation of process improvements that reduce the statutory close cycle by 15% within the first 6 months
- Successful transition of GAAP-to-SAP reporting framework, evidenced by clean audit findings and improved regulatory communication within the first 12 months
Our take
Clover Health is a medical insurance company operating as a Preferred Provider Orgaization for Medicare Advantage, the Medicare plan for elderly American citizens. It aims to reduce the doctor-insurer friction to increase visibility into the health of patients.
Through its approach, Clover's physicians are able to focus on people, rather than paperwork. It has a patient-centered analytics and dedicated care management team, and thus is able to rapidly identify potential healthcare risks to provide preventative care. This helps to provide a more sophisticated level of care than existing providers, even if its market share is relatively slim compared to competitors like UnitedHealthcare and Humana.
Over the years it has performed well in a rapidly growing market, but in 2021 ran into issues with profitability in the market due to inefficient costings, an issue it is steadily nipping in the bud in 2023. However, the number of elderly Americans has doubled over the past 25 years, and the market is expected to do the same between now and 2025. This upward trend brings hope of revitalising the growth and strong financial performance Clover has seen in recent years, especially as it focuses more on profitability through 2023.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
-4% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Jan 2019
$500m
SERIES E
May 2017
$130m
SERIES D
Total funding: $925m
Company benefits
- Paid parental leave and a life insurance policy
- Commuter benefit program
- 2 paid volunteer days for an organization of your choice
- 401(k) contributions
- Home office reimbursement for full-time employees
- 18 paid vacation days, 9 paid sick days, 10 company holidays, and a floating holiday
- Medical, dental, and vision plans; healthcare and dependent care FSA as well as a health and wellness benefit
Company HQ
Downtown, Nashville, TN
Leadership
Vivek Garipalli
(CEO & Board Member)They started out in Healthcare Investment Banking with Credit Suisse before joining the Blackstone Group. They also worked in Private Equity at J.P. Morgan, and co-founded Ensemble Health Partners and CarePoint Health System.
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