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FEP Accountant

Blue Cross Blue Shield Association · Chicago E. Randolph, IL · Full time

Posted Sep 9, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about a variance between actual and budget that you had to explain. What was driving it, and how did you prove it?

What they are checking: Whether they dig to the real cause with evidence instead of offering a plausible story that nobody checked.

Tell me about an internal control you put in place or tightened. What risk was it meant to catch?

What they are checking: Whether they think of controls as protection against real mistakes and fraud, not as paperwork to satisfy a checklist.

Describe a process improvement you made in an accounting routine. How did you know it actually saved time or cut errors?

What they are checking: Whether they can spot waste in repeated work and measure the result instead of just claiming improvement.

Tell me about a time you found an error in a report after it had already been shared. What did you do?

What they are checking: Whether they own mistakes quickly and openly, which matters more in regulated reporting than never making one.

What would you do

You're reconciling a balance sheet account and it's off by an amount you can't explain. What do you do first, and when do you raise it?

What they are checking: How they hunt for the source of a difference and whether they know not to sit on an open item too long.

An auditor asks for support on a journal entry you booked three months ago. What do you hand them, and how do you keep that easy to find?

What they are checking: Whether their entries are documented well enough that someone outside the team can follow the logic without them.

Someone in another department asks for a quick number for a decision, but the close isn't done yet. How do you handle it?

What they are checking: Whether they can be helpful with ad hoc analysis while being clear about how reliable a preliminary number is.

About the work

Walk me through how you run your part of a month-end close, from the first journal entry to the day you hand off reports.

What they are checking: Whether they have actually owned close tasks in order, or only helped with pieces someone else organized.

How do you decide whether something should be an accrual, a prepaid, or just expensed in the month it hits?

What they are checking: Their grasp of basic accrual accounting, which shows up in every close and every audit question.

The posting mentions payment processing alongside journal entries. How do you make sure a payment is legitimate and coded right before it goes out?

What they are checking: Their habits around approvals, vendor checks and coding, since a bad payment is much harder to undo than a bad entry.

How do you check your own work before a financial statement or report leaves your hands?

What they are checking: Whether they have a real review routine, like tie-outs and reasonableness checks, rather than trusting the first pass.

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The full job description

As published by Blue Cross Blue Shield Association.

This role is primarily responsible for ensuring the accuracy of financial records, managing month-end processes, handling transactional tasks such as journal entries and payment processing, and preparing reports in compliance with accounting standards. This role involves conducting reconciliations, analyzing variances, implementing process improvements, and collaborating with other departments. Additionally, this role will support audits and perform ad hoc financial analysis to aid decision-making and business initiatives. • Lead or assist in the month-end close process, including preparing journal entries, reconciling accounts, and analyzing variances. Prepare financial statements and reports in accordance with accounting principles and regulatory requirements. • Perform regular reconciliations of balance sheet accounts to ensure accuracy and completeness of financial data. Analyze variances between actual and budgeted/forecasted figures, investigating discrepancies and providing explanations as needed. • Assist in external and internal audits by providing necessary documentation, explanations, and support to auditors • Implement and maintain internal control procedures to safeguard company assets and ensure compliance with accounting standards and regulations. Identify opportunities for process improvements in accounting procedures and systems to enhance efficiency and accuracy. • Collaborate with other departments, such as accounts payable, accounts receivable, and finance, to ensure accurate and timely financial information exchange • Perform ad hoc financial analysis and projects as requested by management to support decision-making and business initiatives The posting range for this position is: 65,400.00 - 94,800.00 Qualifications: Education • Required BS ; or equivalent experience • Preferred MS ; or equivalent experience Experience • Required 4+ Years accounting experience, including all aspects of the monthly close process, transaction processing, cash management, and financial record-keeping Knowledge Skills and Abilities • Solid understanding of accounting principles, including GAAP. • Ability to manage general ledger accounts, ensuring accurate recording of financial transactions. • Effective analytical skills to interpret financial data, identify trends, and make informed decisions. • High attention to detail. • Understanding of internal controls to safeguard financial assets, prevent fraud, and ensure compliance. • Excellent organizational skills to manage multiple priorities/projects under tight timeframes with a sense of urgency. • Effective communication skills to clearly convey complex accounting issues to management, auditors, and other staff. • Ability to understand complex accounting transactions and apply US GAAP and non-GAAP standards. • Demonstrates AI literacy and an understanding of generative AI tools, including appropriate business applications and limitations. Certifications & Licenses • Required: Certified Public Accountant (CPA) - Various • Extra Posting Information: Minimum four years of accounting experience, including all aspects of the monthly close process, transaction processing, cash management, and financial record-keeping Experience with accounting software (PeopleSoft and Workday preferred). #LI-Hybrid The posted salary range is the lowest to highest salary we , in good faith , believe we would pay for this role at the time of this posting . We may ultimately pay more or less than the hiring range and t his hiring range may also be modified in the future. A candidate’s position within the hiring range may be based on several factors including, but not limited to, specific competencies, relevant education, qualifications, certifications, relevant experience, skills, seniority, performance, shift, travel requirements, and business or organizational needs. This job is also eligible for annual bonus incentive pay. We offer a comprehensive package of benefits including paid time off, 11 holidays, medical/dental/vision insurance, generous 401(k) matching , lifestyle spending account and m any other benefits to eligible employees. Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.

Apply at Blue Cross Blue Shield Association