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Job Summary: Reporting to the Director of Finance of HMFP, the Financial Analyst – Sr is responsible for preparing pro-forma and financial budget statements to support the strategic planning efforts of HMFP Corporate and the Departments. The role will also be responsible for synthesizing and analyzing financial data and making recommendations based on the analyses. The Financial Analyst – Sr works with Department administrators to develop annual budgets then monitors actual results to budget to improve the overall operations of the organization and ensure revenues and expenses are properly allocated. Other areas of responsibility include revenue forecasting, budget system maintenance, funds flow invoicing between HMFP and BIDMC, and other ad hoc analyses and journal entries.
Job Description:
Essential Responsibilities:
- Assist in the preparation of the annual operating budget cycle for HMFP and affiliates which includes working with clinical Department staff to create detailed revenue and expense budgets by physician. Cultivate and maintain productive working relationships with internal and external customers.
- Prepare monthly Departmental budget variance analyses including analysis of causes of major variances for review with the Director of Finance and other key stakeholders.
- Generate financial analysis and pro-forma statements to support the strategic planning efforts of HMFP Corporate and the Departments.
- Conduct analysis (performance, variance and financial) as assigned. Create/update monthly reports which include but are not limited to, financial performance reporting, salary and FTE variance analyses, budget and revenue forecasting, and net patient service revenue reserve calculations.
- Provide assistance in transitioning to new financial reporting and budgeting system(s), which includes but is not limited to mapping data into to the new system and assisting in the development of new reports and testing/validating report functionality.
- Document and report the results of the Funds Flow process with BIDMC. As part of this process, consolidate and track changes to Funds Flow and support the Director of Finance in streamlining the process and how the results are presented to senior management on a yearly and monthly basis. Record the Funds Flow revenue in HMFP general ledger by department, by physician each month.
- Update systems periodically with budget/actual data between the budget system (Oracle Hyperion),the general ledger (EPICOR), and work force planning systems.
- Assist in the maintenance and design of the Oracle Hyperion budget system and the implementation of future enhancements and functionality.
- Meet aggressive deadlines (monthly close/reporting, monthly forecast, annual budget) and perform ad hoc projects related to accounting, budget, and finance as assigned. Serve as knowledge expert for Financial Analysts on routine issues and orient new personnel to internal processes and procedures.
- Manipulate and synthesize large financial data sets into concise actionable reports for management. Serve as the lead analyst in working with the Director of Finance to develop various modeling tools in Excel in order to drive greater insight into the finances of HMFP and the Departments.
Required Qualifications:
- Bachelor's degree required. Bachelor's degree in Business Administration, Finance or Healthcare Administration preferred.
- 3-5 years related work experience required in an analytical role.
- Must be highly detail oriented and have strong analytical, communications and computer skills with a high aptitude to learn new systems and analytical tools.
- Demonstrated high level of professionalism and ability to work well in a team-focused environment.
- Advanced skills in financial reporting and budgeting applications (Oracle Hyperion preferred).
- Advanced skills with Microsoft applications which may include Outlook, Word, Excel, PowerPoint or Access and other web-based applications. May produce complex documents, perform analysis and maintain databases.
Preferred Qualifications:
1-2 years of experience in health care industry preferred.
Competencies:
Decision Making: Ability to make decisions that are guided by general instructions and practices requiring some interpretation. May make recommendations for solving problems of moderate complexity and importance.
Problem Solving: Ability to address problems that are varied, requiring analysis or interpretation of the situation using direct observation, knowledge and skills based on general precedents.
Independence of Action: Ability to follow precedents and procedures. May set priorities and organize work within general guidelines. Seeks assistance when confronted with difficult and/or unpredictable situations. Work progress is monitored by supervisor/manager.
Written Communications: Ability to communicate clearly and effectively in written English with internal and external customers.
Oral Communications: Ability to comprehend and converse in English to communicate effectively with medical center staff, patients, families and external customers.
Knowledge: Ability to demonstrate full working knowledge of standard concepts, practices, procedures and policies with the ability to use them in varied situations.
Team Work: Ability to act as a team leader for small projects or work groups, creating a collaborative and respectful team environment and improving workflows. Results may impact the operations of one or more departments.
Customer Service: Ability to provide a high level of customer service to patients, visitors, staff and external customers in a professional, service-oriented, respectful manner using skills in active listening and problem solving. Ability to remain calm in stressful situations.
Physical Nature of the Job:
Sedentary work: Exerting up to 10 pounds of force occasionally in carrying, lifting, pushing, pulling objects. Sitting most of the time, with walking and standing required only occasionally
Pay Range:
$63,336.00 USD – $85,242.00 USD
The pay range listed for this position is the annual base salary range the organization reasonably and in good faith expects to pay for this position at this time. Actual compensation is determined based on several factors, that may include seniority, education, training, relevant experience, relevant certifications, geography of work location, job responsibilities, or other applicable factors permissible by law.
