Capital Controller - Strategic Investments

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 Transformation Capital Controller leads financial governance, reporting, and oversight for the enterprise-wide strategic investment portfolio. This role supports capital planning, capital portfolio management and prioritization, building and evaluating business cases, ensures ROI accountability, and provides decision support for executive leadership and the Board of Directors on transformation and innovation initiatives. This is a new function within the organization and this leader will be leading a small team in establishing, systematizing, and evolving our approach to managing our transformation investment portfolio as well as ensuring sufficient value generation to achieve enterprise goals.

This role will work in close partnership with our Transformation Office (TMO) leadership to manage budgeting, funding, forecasting, tracking, and performance monitoring/governance over Medica's entire Strategic and Transformation Program Agenda. It also collaborates with Medica Finance team to manage in-servicing investments and support on P&L impacts of strategic investments.

This position will directly manage a small team and closely collaborate with the Transformation Office team & leadership as well as leadership across Medica. Performs other duties as assigned.

Key Accountabilities

• Capital Planning & Governance
  
  
  
  • Lead development and management of the capital investment plan (~$100M+ annually). Work with Transformation office on annual planning processes.
  • Ensure alignment with long-term strategic and financial goals
  • Chair capital governance committee, partnering with transformation office and cross-functional business owners Evolve process and meeting content as the portfolio matures, as well as build/mature criteria for investment review
  
  
  
  
• Business Case Evaluation
  
  
  
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    Review and validate financial models and investment returns (IRR, NPV, payback)

    
    
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    Establish value assumptions while pressure testing investments, KPI's, and value delivery timing/confidence in partnership with TMO

    
    
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    Partner with business leaders to assess financial viability of transformation project

    
    
  • Establish consistent investment cost and value estimate approaches and key inputs
  
  
  
  
• Project Finance Oversight
  
  
  
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    Track spend and forecast accuracy across all active capital/transformation initiatives

    
    
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    Provide variance analysis and investment performance reporting to senior leadership

    
    
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    Proactively research over/under spend and collaborate with TMO to create action plans as required

    
    
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    Identify risks to ROI realization and recommend corrective actions

    
    
  
  
  
  
• Strategic Finance Support/ Portfolio Management
  
  
  
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    Collaborate with IT, , Transformation Office, Actuarial, Analytics, and other functions to evaluate major initiatives (e.g., digital health, value-based care, system modernization)

    
    
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    Translate strategic objectives into financial implications and investment requirements

    
    
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    Evolve funding models and business case methodologies to align to changes in business and tech operations

    
    
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    Make recommendations on portfolio management and how to align expenses and value across business cases

    
    
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    Build forecast plans for transitioning from transformation to operationalization

    
    
  
  
  
  
• Financial Reporting, Board Support & Compliance
  
  
  
  • Prepare materials and executive-level insights for Board of Directors and Finance/Audit Committees regarding capital investment performance and transformation ROI
  • Deliver clear, concise dashboards and narratives that communicate progress, risks, and capital efficiency
  • Ensure compliance with internal capital accounting policies and external audit requirements
  • Collaborate with Controllership for GAAP alignment and capitalization treatment
  
  
  
  

Minimum Qualifications

• Bachelor's degree in Finance, Accounting, Economics, or related field
• 10+ years of progressive finance experience, including capital planning and transformation/strategic investment portfolio management

Preferred Qualifications

• Experience managing a portfolio of investments
• Strong modeling, ROI analysis, and financial evaluation skills, including building and evaluating business cases for multi-million dollar investments
• Strong knowledge of financial planning, budgeting, and forecasting processes
• Proven experience in preparing and presenting to executive leadership; experience designing executive financial views
• Familiarity with project management and capital approval processes (e.g., stage-gating).
• Prior experience supporting the development and monitoring of significant and complex business cases for long-term investments
• Prior experience consulting senior leaders on business case build and value identification related to business strategy; experience making recommendations to senior leadership based on financial ROI and business outputs
• Prior leadership/team management experience - direct reports and significant cross functional collaboration
• Experience with product funding models vs initiative funding models for capital planning
• Experience in healthcare, payer, or regulated industry preferred.

This position is an Office role, which requires an employee to work onsite at our Minnetonka, MN office, on average, 3 days per week.

The full salary grade for this position is $127,800 - $219,100. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $127,800 - $173,470. 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 base compensation, this position may be eligible for incentive plan compensation in addition to base salary. 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.

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.