Senior Manager of Budget and Financial Analysis - Clinical
New York, NY
Under the direction of the Director of Clinical Budget and Financial Analysis, the Senior Manager of Budget and Financial Analysis assists in the development, monitoring and review of the College of Physicians and Surgeons (P&S) annual operating budget including physician practices, grants, and fund balance activity, with a specific focus on the clinical enterprise. The Senior Manager provides analytic support and problem solving to address issues commonly found in large, complex academic medical centers, focused on clinical departments. He/she will obtain thorough knowledge of Columbia's financial systems and reports and be able to use the reports to produce in-depth analysis of programs, services and service areas.
Ideal candidate should be inquisitive, motivated, a big-picture thinker with ability to drill down to the details, have strong analytical skills, and is seeking an opportunity to learn quickly in a challenging and fast-paced environment.
Candidates should also possess ability to analyze and coalesce data from multiple systems and present it in a straightforward format (both financial and narrative); ability to identify solutions to complex problems and present solutions in a condensed format; have cutting edge skills with financial systems including spreadsheet preparation and presentation. General understanding of a medical center’s tri-part mission, familiarity with basic clinical metrics (cFTE, wRVU, payor mix, service mix, revenue cycle and clinical P&L’s), understanding of faculty compensation metrics and cost allocation methodologies are preferred. Individual must be highly organized and familiar with databases.
- Lead the analysis of the global budget submission with input from Directors within P&S Finance; assist in finalizing quarterly budget submission for review by Senior Leadership. This includes:
- Performing all analysis of the school’s performance on a consolidated basis and summarizing explanations based on the clinical mission
- Ensure all inter-department transactions are properly accounted for
- Evaluate overall margins by financial sector for reasonableness and analyze underlying drivers
- Summarize results in an executive format for review by the CFO
- Responsible for oversight of clinical performance metrics and tie it to budget submissions, including training and overseeing staff to understanding reports. Budget submission includes:
- Analyze and summarize the impact of new recruits to the clinical margin on a monthly/quarter basis
- Develop and guide departments to produce accurate P&L’s
- Assist in the development of P&L’s by faculty member
- Evaluate of productivity by provider and by division
- Analyze of compensation compared with productivity
- Perform monthly analysis of FTE changes for Faculty and Staff over the entire school
- Manage a portfolio of complex clinical departments’ annual budget submissions, quarterly forecasts and year-end close process. Identify financial trends and potential areas of opportunity/risk.
- Review monthly departmental performance against budget and provide reasonable and rational explanations for variances to Senior P&S Finance Leadership
- Analyze and investigate operational performance on a prospective, rather than a reactive basis and assist departmental leadership with strategic objectives
- Attend routine status meetings with departmental administrators, gaining insight and knowledge regarding financial operating activity
- Perform other duties and “ad hoc” analyses as assigned.
- BA or BS in Accounting, Finance or related field
- Master’s degree strongly preferred
- Minimum of 6 years of experience in a large complex academic medical or hospital setting or in an equivalent environment; experience working with faculty practice budgets and/or service line or departmental budgets preferred
- Excellent oral and written communication and customer service skills
- Proven analytical and problem solving skills required
- Strong time management and project management skills