GENERAL SUMMARY/ OVERVIEW STATEMENT:
Reporting directly to the Sr. Finance Manager for the Department of Neurology, the Senior Financial Analyst is responsible for leading financial planning and analysis projects, as well as acting as a representative of the Massachusetts General Physician's Organization (MGPO) Department of Neurology as part of project teams. This role is also responsible for tracking financial commitments to faculty members, faculty compensation analysis, annual budgeting and periodic financial reporting. This role has significant interaction with department administrative directors/billing managers, as well as the Executive Leadership Team of the MGPO Department of Neurology.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Financial Planning and Analysis
- Under the direction of the Sr. Finance Manager, develops and implements long-range strategic/programmatic financial plans for the Department Neurology. Makes recommendations related to the plan which will improve financial performance.
- Participate in special departmental projects and initiatives as they are identified.
- Prepare monthly financial analysis that is presented to the Executive Leadership Team by the Sr. Finance Manager including: cash flow projections, forecast analyses, GAP analysis, benchmarking analysis
- Perform monthly FTE analysis, comparing actual to budget as well as identifying yearly trends.
- Provide support and respond to P&L inquiries from Administrative Directors and Business Owners.
- Develop Standard Operating Procedure (SOP) training documentation, and deliver training to end users as needed
- Interact with administrative directors and division leaders for various analyses regarding business development, process improvement, benchmarking etc.
- Manages quarterly invoicing and follow-up on HMS Chair and Fellowship expense reimbursements upwards of $600k per academic year.
- Prepare adjusting journal entries as need to be loaded into the General Ledger System.
- Build planning models to support financial, operational and strategic initiatives while ensuring the accuracy and presentation of historical data and forecasted results of the planning models.
- Interact and maintain consistent and open relationships with Massachusetts General hospital (MGH) budget department, MGPO accounting office, and all MGPO clinical and administrative departments,
- Coordinate with clinical divisions to compile details, develop annual budgets and assist in loading details into the enterprise budget system.
- Perform variance analysis comparing next fiscal budget and current projected fiscal year results for numerous expenses categories,
- Set up presentation of budgets to be reviewed by the Sr. Finance Manager and Executive Leadership Team.
- Interact and maintain consistent and open relationships with Faculty members and department research division to facilitate frequent compensation updates.
- Assist in the development and maintenance of salary planning and new hire salary build-ups in accordance with Neurology physician compensation plan.
- Manages and monitors financial and payroll transactions for the department including: monthly payroll changes, external as well as intra-corp billing, journal and commitment transfers, employee salary changes, special pay requests, opening and closing of sundry funds, clearing deficits, etc.
- Assists in developing salary support agreements between MGH Neurology and outside institutions to ensure that Neurology's Faculty and trainees are fully compensated for their work done with outside collaborators.
- Manages and gives recommendations regarding the monetary commitments from Neurology's Chief of Service, ensures that unused funds are closed and new funds are created in a timely manner, revenues and expenses are posting correctly, and that deficits are cleared. Investigative work is done for funds that have erroneous charges, and changes are submitted to confirm that Neurology's personnel are being paid in line with their distribution of effort.
- Make recommendations about systems to support financial management of Neurology Department within the context of MGH-wide systems planning. Assists with implementation as needed.
- Maintain Provider Compensation Management/Productivity System (PCMPS) this includes updates to clinical targets, user access, clinical schedule maintenance and management of enhancements as needed.
SKILLS/ ABILITIES/ COMPETENCIES REQUIRED:
- Bachelor's Degree, Finance/Business/Health Care Management related required.
- 3 to 5 years experience in health care industry, preferably in Accounting or financial analysis setting.
- Proficient in creating complex financial analyses, financial and operational reporting, and creating financial models.
- Proficient in applying Generally Accepted Accounting Principles (GAAP).
- Proficient in Microsoft Excel, PowerPoint, Word, and Outlook.
- Effective interpersonal, written and verbal communications, and networking skills.
- Excellent problem solving, analytical and organizational skills.
- Ability to analyze complex financial statements.
- Ability to maintain multiple databases and spreadsheets.
- Ability to multitask, meet deadlines, follow-up on, and quickly re-prioritize issues.
- Extensive knowledge of computerized software programs: Microsoft Excel/Access/Word/Power Point
- Working knowledge of the following systems a plus: Vision/Insight/iPort/Patient Keeper/HMS Crew
- The ability to work independently and responsibly with minimal supervision.
Utilize the resources within the MGPO Department of Neurology to ensure the timely and accurate completion of assigned projects. This may require leading or directing the work of others.FISCAL RESPONSIBILITY:
Shared fiscal responsibility for $25M GH, $30M PO and $70M in sundry funds.EEO Statement
Massachusetts General Hospital is an Equal Opportunity Employer. By embracing diverse skills, perspectives and ideas, we choose to lead. Applications from protected veterans and individuals with disabilities are strongly encouraged.
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