Cost Allocation Leader

Cost Allocation Leader

A leading regional health insurer is seeking a Cost Allocation Leader to oversee enterprise-wide cost allocations, regulatory reporting, and financial analysis. This individual will partner across Finance, Accounting, Actuarial, Systems, and Compliance while owning allocation methodologies, audit support, and reporting accuracy through Oracle Profitability & Cost Management (PCM/HPCM).

This highly visible role blends healthcare finance, cost allocation, and financial systems expertise, with opportunities to drive process improvements, support regulatory requirements, and contribute to enterprise-wide finance transformation initiatives.

Key Responsibilities

• Manage monthly, quarterly, and annual administrative expense allocations, including forecasting, planning, and analysis.
• Maintain, update, and validate allocation drivers, business rules, and methodologies to ensure accurate financial results.
• Design, implement, and test allocation logic within Oracle Profitability & Cost Management (PCM) to support financial integrity across the organization.
• Review allocation outputs, investigate variances, perform root-cause analysis, and resolve reporting discrepancies.
• Support regulatory and statutory reporting requirements, including allocation surveys, pricing support, quality initiative reporting, and other healthcare finance filings.
• Partner with Accounting and Finance teams to support financial reporting, intercompany allocations, reconciliations, journal entries, and audit requirements.
• Collaborate with Actuarial teams on pricing analyses, product profitability, and customer bid support.
• Facilitate time studies, evaluate allocation methodologies, assess vendor arrangements, and support documentation related to expense allocation practices.
• Develop and maintain policies, procedures, and supporting documentation governing allocation methodologies.
• Educate and advise business leaders on allocation requirements, regulatory expectations, and financial reporting impacts.
• Monitor allocation drivers and operational changes that impact financial results and expense distribution.
• Prepare monthly expense reporting packages highlighting performance trends, emerging risks, opportunities, and cost-saving recommendations.
• Provide variance analyses and strategic insights to senior leadership, recommending corrective actions when necessary.
• Maintain allocation models by updating fixed and variable cost assumptions, direct and indirect expense classifications, and business rules.
• Support internal audits, external audits, regulatory examinations, and ad hoc information requests.
• Deliver financial analyses and reporting support for executive leadership and enterprise-wide initiatives.

Qualifications

Education

• Bachelor's degree in Finance, Accounting, Business, Economics, or a related field required.

Experience & Skills

• 8-10+ years of experience in financial reporting, data analysis, finance, accounting, or related disciplines.
• 5+ years of progressive finance or accounting experience.
• Advanced proficiency with Oracle Profitability & Cost Management (PCM/HPCM).
• Healthcare finance experience, preferably within a payer or managed care environment.
• Strong understanding of cost allocation methodologies, financial reporting, budgeting, forecasting, and variance analysis.
• Experience supporting regulatory reporting, audit activities, and compliance requirements.
• Working knowledge of financial systems such as Oracle, Hyperion, PeopleSoft, Oracle GL, or comparable ERP/EPM platforms.
• Ability to analyze complex financial data, identify trends, explain variances, and recommend actionable business solutions.
• Strong financial modeling, statistical analysis, and reporting skills.
• Excellent verbal, written, presentation, and stakeholder management abilities.
• Proven ability to build relationships and collaborate effectively across Finance, Accounting, Actuarial, Operations, and executive leadership.
• Advanced Microsoft Office skills, particularly Excel, Access, PowerPoint, and Outlook.
• Ability to manage multiple priorities, meet deadlines, and maintain accuracy in a fast-paced environment.

Preferred

• Experience with statutory financial reporting.
• Knowledge of healthcare regulatory reporting and compliance requirements.
• Exposure to pricing support, quality initiative reporting, or healthcare reimbursement and allocation methodologies.
• Experience supporting Oracle ERP/EPM transformations, upgrades, or system enhancements.

This is an exceptional opportunity for a finance professional who combines payer experience, Oracle PCM expertise, and cost allocation leadership and is looking to make a broad organizational impact while partnering directly with executive leadership.