Scott Blackley's Banking Background and Journey to CFO of Oscar Health

Scott Blackley brings a wealth of financial expertise to his role as Chief Financial Officer (CFO) of Oscar Health. His extensive background in banking and financial management has equipped him with the requisite skills to oversee crucial areas such as treasury, actuarial financial reporting, capital management, and investor relations. This article delves into how Scott leveraged his banking background to excel in his current role, providing insights into his professional journey and achievements.

Scott Blackley's Early Career

Scott Blackley’s journey in the financial sector began with a bachelor's degree in Accounting from the University of Utah. This academic foundation paved the way for his early career in consulting and public accounting. His experience extended to serving as a Professional Accounting Fellow at the US Securities and Exchange Commission (SEC) and a Partner at KPMG LLP, positions that exposed him to the intricacies of financial regulations and professional accounting practices.

Professional Growth and Leadership

Throughout his career, Scott has held various utive positions, demonstrating his growing expertise and leadership in the financial world. His roles at Capital One and Fannie Mae allowed him to gain further insights into corporate finance and strategic planning. At Capital One, he served as the Chief Financial Officer (CFO) and also sat on the utive Committee. These responsibilities underscored his ability to lead the overall financial management of a company, advance its financial and strategic agenda, and manage accounting, corporate tax, strategic and financial planning, funding and treasury operations, corporate finance, investor relations, and corporate development.

Transition to Oscar Health

In January 2023, Scott took on the role of Chief Transformation Officer at Oscar Health. This transition marked a significant step in his career, with responsibilities geographically spanning from his base in Boston, Massachusetts, to overseeing operations in California, Texas, Florida, and Washington D.C. His experience in leading financial and strategic initiatives at Capital One made him a valuable asset to Oscar Health, a company transforming the healthcare industry through digital innovation and enhanced patient care.

Key Areas of Responsibility

As CFO at Oscar Health, Scott oversees various critical areas:

Treasury: Managing and securing the organization’s financial assets and liabilities, ensuring liquidity, and optimizing cash flow. Actuarial Financial Reporting: Ensuring accurate and timely reporting on the financial impact of healthcare benefits, including reliance on actuarial models to estimate future costs and risks. Capital Management: Strategic allocation of capital to support the company’s growth initiatives and financial health. Investor Relations: Communicating Oscar Health’s financial performance and strategic direction to shareholders and the broader market to maintain investor confidence and secure funding.

Strategic Planning and Financial Management

Scott's expertise in strategic planning and financial management is crucial in navigating the complex landscape of healthcare financing. His role involves advanced financial modeling, budgeting, and forecasting to support the company’s strategic needs and objectives. The ability to integrate financial data into business strategies is critical, especially in an industry that faces evolving regulations and patient demand.

Conclusion

Scott Blackley’s banking background and extensive experience in financial management have positioned him well to lead Oscar Health through its transformational journey. His leadership and strategic vision underscore the importance of robust financial management in driving success in the healthcare sector. As the CFO of Oscar Health, Scott continues to drive innovation and financial health, ensuring the company’s long-term sustainability and growth.

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