About this opportunity
Medica lists this Financial Analyst II opportunity in minnetonka, Minnesota. Review the employer’s description below for duties, qualifications and application requirements.
Job description
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 Financial Analyst II performs intermediate-level financial analysis, reporting, and accounting functions supporting month-end close, regulatory compliance, and operational finance. This role prepares journal entries, reconciliations, and financial submissions while collaborating with cross-functional teams to ensure accurate and timely financial reporting. Performs other duties as assigned.
Key Accountabilities
Month-End Close & Journal Entries Prepare and post monthly journal entries for paid claims, IBNR estimates, revenue, and membership
Calculate and record interest, reinsurance, and reserve adjustments
Process vendor payments and administrative fee entries
Ensure timely completion of month-end close activities within established deadlines
Reconciliations & Analysis Perform cash-to-claims reconciliations and variance analysis
Prepare account reconciliations and investigate discrepancies
Maintain and update financial databases and tracking files
Analyze high-dollar claims and identify trends or anomalies
Regulatory Reporting & Compliance Prepare and submit regulatory data submissions (quarterly/annual) to government agencies
Support cost report preparation and filings (Medicare, Medicaid)
Complete attestations and compliance documentation as required
Maintain audit-ready documentation and support internal/external audits
Revenue & Membership Accounting Record revenue entries and reconcile to source systems
Process membership data and ensure accurate reporting to partners
Calculate and record risk adjustment, PCORI fees, and premium taxes
Reconcile state payment files and withhold estimates
Invoice Processing & Vendor Management
Review invoices for reasonability and process for approval
Coordinate vendor payments and track payment cycles
Prepare administrative invoices for client groups
Process Improvement & Documentation Maintain and update process documentation and standard operating procedures
Support system migrations and platform transitions
Required Qualifications
Bachelor's degree in Finance, Accounting, Business Administration, or related field
3+ years of experience in financial analysis, accounting, or related role
Strong proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas)
Experience with financial systems and ERP platforms (e.g., PeopleSoft, FNDS, TM1)
Understanding of accounting principles and month-end close processes
Strong analytical and problem-solving skills
Excellent attention to detail and accuracy
Ability to work independently and meet deadlines in a fast-paced environment
Preferred Qualifications
Experience in healthcare or insurance industry financial operations
Knowledge of Medicare/Medicaid regulatory reporting requirements
Experience with data analysis tools (Access, SQL, QlikSense, Power BI)
Familiarity with claims processing and IBNR estimation
Experience with government data submissions (DHS, CMS)
Process improvement or automation experience
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.
The full salary grade for this position is $56,600 - $97,000. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $56,600 - $84,840. 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 compensation, 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.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.