Director of Budget & Finance
New York, NY
Reporting to the Department Administrator/CFO, the Director of Budget and Finance provides financial leadership and direct oversight of the financial operations of the Department of Dermatology. The incumbent will be responsible for financial and productivity metrics, financial analysis, budget and financial reporting, business planning, business services and accounting operations, financial controls and compliance, and for providing direction to departmental finance staff. The Director of Budget and Finance is a key member of the department administrative team and works closely with faculty and staff to develop an efficient, high-functioning financial, accounting and reporting infrastructure to support the Department's research, education and clinical care missions.
Outstanding financial analysis skills are required, including the ability to design and prepare detailed financial reports that include qualitative discussions of financial drivers, budgets and variances, and forward-looking implications. Necessary experience includes budget and/or other financial analysis, such as interpretation of financial statements. Expert-level computer proficiency (Microsoft Excel and Word) required, including an in-depth knowledge of spreadsheet packages.
The successful candidate will be a self-starter with sophisticated knowledge of quantitative analysis who is capable of working with limited oversight to solve problems or to meet a need. Attention to detail, plus the ability to work closely and collaboratively with a diverse group of administrators is essential. Excellent oral and written communication skills are a requisite as is the ability to analyze and explain complex financial
Requires a bachelor's degree or equivalent in education and experience, plus five years of related experience. Master's Degree in Healthcare Finance, Accounting or Business Administration or at least five years of progressive related financial experience in academic medical center setting preferred.
- Experience in a clinical environment required.
- Demonstrated ability to manage and work effectively with complex financial systems, models and methodologies.
- Demonstrated ability to research and prepare comprehensive reports, plan, implement, and evaluate programs and services, and develop and maintain effective relationships with faculty, staff and administrators at all levels.
- Demonstrated ability to analyze and coalesce data from multiple systems and present it in a straightforward format (both financial and narrative).
- Demonstrated ability to identify solutions to complex problems; cutting edge skills with financial systems including spreadsheet preparation and presentation.
- Must possess excellent written and oral communication, as well as demonstrates strong interpersonal and organizational skills needed.
- Expert-level computer skills including Microsoft Office Suite, data warehouse and reporting tools, queries and reports.
Essential functions of the job:
- Financial Analysis: Develops quantitative analyses on the financial and operating performance of existing and new faculty and programs across research, education and clinical care missions; makes recommendations for business action based on the outcome of analyses and impact of changes to financial and productivity models; creates and develops business plans; assesses the impact of CUMC financial policies on current and future operations; performs trend analysis and forecasting of major areas of revenue and expense; develops cost-benefit analyses of proposed initiatives; oversees financial operations and analysis and provides support to develop models, business plans and other tools to allow for more efficient financial analysis and decision making; researches all key related business issues and incorporates findings into financial projections leading to investment recommendations.
- Budget & Financial Reporting: Advises, educates, and serves as an internal consultant for Department faculty and senior management on budget and financial issues; provides budget and financial analysis support to Chair, Department Administrator, and faculty.
Provides regular reporting to Department and NYP senior leadership on the financial health of the department, monitors actual results, identifies potential for shortfalls and recommends and suggests steps to prevent and correct variances; prepares and distributes financial reconciliation reports to NYP Finance. Identifies, recommends, and implements changes to processes and procedures to improve workflow; analyzes, reviews and administers internal cost allocation methodologies; recommends changes as appropriate.
In collaboration with Department Administrator, conducts routine status meetings for Chair and faculty and works collaboratively to monitor and report on clinical practice plan finances and productivity.
- Business Services & Accounting Operations: Oversees finance group; Finance Manager and Finance Coordinator, who manage daily financial operations and transactions across Department; implement, communicate and manage department financial policies, accounting systems, and financial controls; process monthly fund transfers, expense corrections, and cost allocations; prepare and process labor accounting transactions; complete routine bank and account reconciliation; audit and approve department-wide procurement, p-card, petty cash, and accounts payable activity.
- Finance Staff: Directly recruits, hires, trains, directs and develops 9 Finance support staff; conducts performance and salary, promotions and disciplinary actions; manages employee relations issues to resolution; manages leave schedules (personal, vacation, sick) to ensure adequate staffing of financial functions; fosters growth and development of staff through effective coaching and by coordinating opportunities for continuing education, skill development and career growth; indirectly oversees training and evaluation of staff who access and use financial systems and process transactions within CUMC Administration and across the Department.
- Financial Controls and Compliance: Enforces financial policies, rules, and regulations; conducts internal audits, recommends corrective action; uses results to inform policies and systems; primary point of contact for financial matters between CUMC, NYP, P&S, affiliates and external agencies; meets fiduciary responsibility for financial controls and comply with all audit requirements. Attends routine status meetings with operations team, gaining insight and knowledge regarding financial operating activity
- Cross covers other related administrative positions and performs other duties as assigned.