Reporting to Sr. Director of Revenue, Financial Operations, Budgeting and Strategy, he/she helps facilitate all aspects of departmental financial operations, including $140M annual operating budget, $35M investment portfolio, $7.0M endowment income and expenditure, 800+ faculty and staff payroll and discretionary accounts with collaboration from Boston Medical Center, Boston University, Faculty Practice Foundation and sponsored institutions. He/she will be responsible for developing financial models and managing projects in support of financial planning, budgeting, and strategy. Analyzes financial information and develops revenue/expense analyses, projections, reports, and presentations. This position will work with hospital and physician leadership, finance staff, department managers, administrators and others.
Position Essential Functions:
- Finance & Project Management.
- Assist in oversight of the finances of 18 sections including 10 clinical and 4 research sections within the Department of Medicine.
- Assist in management of $34M in CARE+ funding and endowment of $7M annually including adherence to regulatory requirements.
- In coordination with Senior Director, develop standard financial and operational metrics to assist Section Chiefs, Center Directors, and Administrators monitor clinical, educational, and research performance.
- Develops and maintains dashboards and reporting for assigned projects.
- Works with Section Administrators, DOM Finance, and Administration to ensure accuracy.
- Collaborate with FPP Internal Audit staff as required.
- Creates, prepares and reviews monthly financial and statistical reports with information regarding to hospital funding, financial statements, payroll analysis, endowment funding, and other key financial indicators of department performance.
- Develop training materials, best practices and documentation for end users (INFOR, Workday, BU SAP).
- Communicate with and meet with sections on an as needed basis.
- Works with IT and INFOR to make necessary updates and improvements to the accounting system.
- Provides ongoing validation and reconciliation of data within applications, budget recon, payroll recon, etc.
- Identify and troubleshoot data discrepancies with appropriate parties.
- Develop deep understanding of data extracts and how data layers are stitched together.
- Work with and act as liaison to BMC, BU, BUMG.
Budgeting
- Develop and implement annual section budgets in conjunction with section administrative directors, Vice Chair of Finance and Administration and Department Chair.
- Designs, maintains and analyzes actual to budget reporting distributed at multiple levels throughout the organization.
- Works with Directors to develop budgets, analyze variances, and develop action plans.
- Works with Directors in developing and refreshing annual compensation models.
Strategic Planning
- Facilitate financial forecasting and planning for leadership - includes budgeting and forecasting models, financial analyses.
- Supports Sr. Director in developing and implementing strategic initiatives.
- Complete analyses and provides recommendations for Cash Flow and Professorship Funding.
- Assists in analyzing financial implications of organizational change.
- Works closely with Chair, Vice Chair and Sr. Director to execute on departmental goals.
- Supports implementation of new processes/systems Infor, AP, New BU I/Os.
- Contributes in negotiations with hospital partners for mutually beneficial cost-sharing arrangement (CARE+).
- Participates in ad-hoc departmental projects as-needed.
- Advanced communication skills, written and oral.
- Strong Microsoft Excel skills.
- Master's Degree required.
- Supervisory and management experience preferred.
- Minimum 5 years of relevant work experience, advanced financial and/or research management a plus.