Portfolio Director

Location: Ashburn VA, Indianapolis IN, Atlanta GA, New York NY, Iselin NJ, Woodland Hills CA, Tampa FL, Grand Prairie TX, Louisville KY, Mason OH, Chicago IL

Hours: Standard Working hours

Travel: This role requires associates to be in-office 3 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered if candidates reside within a commuting distance from an office. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless an accommodation is granted as required by law.

Job Description

The Portfolio Director is responsible for financial governance, planning, forecasting, budgeting, compliance, and executive reporting across the Federal Employee Program (FEP) portfolio and others alike. This role serves as a trusted advisor to technology and business leadership, ensuring financial integrity, funding compliance, portfolio transparency, and effective stewardship of government-funded investments.

The successful candidate will oversee portfolio financial management processes, including budget development, staffing governance, spend forecasting, cost center management, vendor funding oversight, release training engineering and executive financial reporting. This role will partner closely with Technology Directors, Portfolio Management, Finance, HR, Procurement, and Executive Leadership to ensure accurate financial planning and support strategic decision-making across a multi-million-dollar portfolio.

Primary Duties and Responsibilities:

Financial Planning & Forecasting

• Lead development and management of annual and multi-year technology budgets.
• Maintain portfolio spend models, staffing forecasts, and financial projections.
• Analyze budget variances, forecast trends, and recommend corrective actions.
• Develop financial scenarios and cost models to support strategic investment decisions.
• Monitor actual spend against approved budgets and identify financial risks and opportunities.

Staffing & Resource Governance

• Manage financial evaluation of staffing requests and resource investments.
• Validate business justifications and quantify financial impact of hiring and contractor requests.
• Maintain workforce planning models and staffing forecasts.
• Partner with leadership on capacity planning, labor optimization, and funding decisions.

Portfolio Financial Management

• Serve as financial lead for the FEP technology portfolio.
• Maintain portfolio-level financial dashboards and executive reporting.
• Track project funding, budget consumption, forecasts, and investment performance.
• Partner with portfolio management teams to ensure financial alignment of approved initiatives.
• Support monthly, quarterly, and annual portfolio review processes.

Budget Development & Cost Center Management

• Coordinate annual budget planning activities across multiple technology organizations.
• Facilitate collection, validation, and consolidation of departmental budget submissions.
• Manage cost center budgets and financial allocations.
• Ensure funding aligns with organizational priorities and strategic objectives.
• Support AIQ, DO Budget, and operating plan development processes.

Executive Financial Reporting

• Develop and present Monthly Financial Reviews for senior leadership.
• Prepare executive presentations, dashboards, and financial analysis.
• Provide insights into financial performance, budget health, forecast accuracy, and investment outcomes.
• Deliver concise, data-driven recommendations to leadership teams.

Financial Governance & Compliance

• Ensure compliance with enterprise financial policies, funding requirements, and governance standards.
• Maintain audit-ready financial documentation and reporting processes.
• Support financial governance forums and executive review boards.
• Monitor adherence to approved funding allocations and budget controls.
• Partner with Finance, Audit, and Compliance teams to address findings and improve controls.

Vendor & Contract Financial Management

• Manage vendor funding line administration and budget alignment.
• Monitor contractor and supplier financial commitments.
• Coordinate funding adjustments and budget transfers.
• Support financial reviews of strategic technology vendor relationships.

Data Analysis & Financial Technology

• Leverage modern reporting and analytics platforms to improve financial transparency.
• Utilize AI, ServiceNow, Workday, Power BI, Excel, and financial systems for reporting, automation and analysis.
• Drive continuous improvement and automation of financial management processes.
• Apply AI-enabled analytics and forecasting techniques to improve financial planning accuracy.

Required Qualifications:

• Requires an BA/BS degree in Information Technology, Computer Science or related field of study and a minimum of 10 years of experience in organizing a series of large-size projects into a single portfolio, multiple technical and business disciplines, planning and designing large complex project portfolios, technical systems Process Life Cycle or related field; or any combination of education and experience, which would provide an equivalent background.

Preferred Experience:

• Experience supporting government-funded programs, regulated industries, or large enterprise technology organizations.
• Experience with ServiceNow Portfolio Management, Workday, SAP, Oracle, or similar enterprise financial systems.
• Knowledge of portfolio management and technology investment governance.
• Experience supporting PMOs, technology organizations, or digital transformation initiatives.
• MBA, CPA, CFA, or related professional certification.
• Experience applying AI and automation capabilities to financial planning and reporting processes.

For candidates working in person or virtually in the below location(s), the salary* range for this specific position is $120,764 to $228,816

Locations: California; Illinois; New Jersey; New York; Virginia

In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws.

*The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, paid time off, stock, or any other form of compensation and benefits 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.

Please be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health.

Who We Are

Elevance Health is a health company dedicated to improving lives and communities – and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.

How We Work

At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.

We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.

Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process.

The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.

Elevance Health is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process should submit the Accessibility Accommodation Request Form and a member of the team will be in contact.

Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.

Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration.