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NTT DATA is seeking a Medicaid Financial Analyst to join and support the IL MES Planning and Assessment Project Management team. The Medicaid Financial Analyst will support the State of Illinois Department of Healthcare and Family Services (HFS) by providing analytical, financial management, and advisory services related to project budgeting, financial forecasting, and cost analysis. This role collaborates with stakeholders to ensure compliance with federal and state requirements while effectively managing financial documentation throughout the project lifecycle. The Financial Analyst will work closely with state client leadership, project teams, and federal partners (such as CMS) to facilitate business operations, funding requests, and financial reporting for Medicaid programs.
Job Responsibility
Develop and maintain project budgets, track expenditures and ensure alignment with financial goals and objectives
Conduct financial analysis and reporting to support decision-making, including variance analysis and forecasting
Collaborate with internal and external project teams and stakeholders to understand project scope, financial requirements, and business needs
Support the development of funding requests and financial documentation for federal and state compliance
Collect, review, and analyze financial data to assist in the development of Independent Government Cost Estimates (IGCEs), cost benefit analysis (CBA), and analysis of alternatives (AoA) for advance planning documents (APD) and state budgeting requests
Prepare and present analytical reports, findings, and recommendations to support financial management throughout project(s) lifecycle
Ensure that all financial work products and deliverables meet technical, documentation, and quality standards
Participate in engagement with CMS and other federal/state agencies to ensure compliance with financial reporting requirements and foster collaborative working relationships
Manage client relationships and expectations by serving as a point of contact for financial-related activities
Provide recommendations on critical business and project financial decisions based on analytical insights
Participate in meetings to communicate project financial status, risks, and issues to stakeholders, including the client and federal government
Support continuous improvement of financial processes, personnel, and organizational systems related to budgeting and financial management
Review financial deliverables and processes for quality and completeness, ensuring adherence to project-identified processes and methodologies
Develop and submit financial reports as needed to the client and federal government
Requirements
Bachelor’s degree or higher from an accredited college or university in Finance, Accounting, Business Administration or a related field
or four years of additional relevant experience in lieu of a degree
Minimum of 6 years’ experience in financial analysis, budgeting, and reporting, preferably within Medicaid or healthcare IT
Minimum of 3 years’ experience as a financial analyst supporting Medicaid system implementation projects and/or Medicaid business operations
Minimum 3 years of Proficiency in MS Office (Word, Excel, PowerPoint, Outlook), with advanced expertise in MS Excel for financial modeling and analysis
minimum 2 years experience with cost-benefit analysis and financial tracking/reporting
minimum 1 year reviewing financial deliverables and processes for quality and completeness
Nice to have
Strong customer service and effective oral and written communication skills
Ability to work independently or as part of a team, demonstrating professionalism in deliverables and client interactions
Business Data Analytics Certificate, Cost Estimator/Analyst Certification, CPA License, or PMI Certified Associate in Project Management (CAPM) or Project Management Professional (PMP)
Bachelor’s degree in a related field
Understanding of State Medicaid Manual, federal regulations, and financial compliance requirements
Three or more years’ experience working collaboratively with CMS State Officer(s), State Budget/Fiscal Officer(s) and/or equivalent agencies
Ability to communicate succinctly and accurately in written and verbal English
What we offer
Medical, dental, and vision insurance with an employer contribution
Flexible spending or health savings account
Life and AD&D insurance
Short and long term disability coverage
Paid time off
Employee assistance
Participation in a 401k program with company match