Sr. Financial Analyst

As a community, the University of Rochester is defined by a deep commitment to Meliora - Ever Better. Embedded in that ideal are the values we share: equity, leadership, integrity, openness, respect, and accountability. Together, we will set the highest standards for how we treat each other to ensure our community is welcoming to all and is a place where all can thrive.

Job Location (Full Address):

601 Elmwood Ave, Rochester, New York, United States of America, 14642

Opening:

Worker Subtype:

Regular

Time Type:

Full time

Scheduled Weekly Hours:

40

Department:

910054 CVSL - Cardiology Admin

Work Shift:

UR - Day (United States of America)

Range:

UR URG 112

Compensation Range:

$70,197.00 - $105,295.00

The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job's compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.

Responsibilities:

GENERAL PURPOSE
The Sr. Financial Analyst will help develop, enhance, and execute the Heart Institute’s financial management system. This key team member will perform sophisticated analysis and deliver financial intelligence to improve budget management, strategic decision-making, business plan development, financial reporting, financial controls, and accounting. They will also help administer Cardiology’s growing portfolio of clinical service agreements. Through this advanced work, they will play a critical role in ensuring the Institute’s ongoing success across its Clinical and Research missions. This position is mostly remote work with some expectation for in-person attendance for meetings or events.

ESSENTIAL FUNCTIONS

Budget Development, Forecasting, and Variance Analysis

• Coordinates the annual capital budget process by initiating discussions with clinical operations leaders regarding what capital is needed, collecting requests, synthesizing and packaging the requests, providing recommendations for prioritizing them, and entering them into the budget system.
• Performs trend analysis and projections to help prepare the annual operating budgets and completes entry into the budget system.
• Identifies and offers recommendations for margin improvement.
• Completes quality assurance online-item budgets that have been entered into the budget system to ensure accuracy.
• Investigates and resolves issues and errors.
• Supports the Heart Institute Research teams in developing operating and grant budgets.
• Completes budget variance analysis and periodic financial forecasts throughout the year for Clinical and Research missions.

Business Improvement Plan Development and Monitoring

• Works with clinical operations teams to gather all requirements and inputs for business improvement plans (BIPs), performs sophisticated analysis to project accurate revenues and expenses, and enters figures into the budget system.
• Performs ongoing analysis of implemented BIPs to monitor progress/success and inform future BIP development.

Financial Analysis & Reporting

• In addition to those mentioned above, develops and performs a variety of regular and ad-hoc analyses to monitor drivers of financial success, answer financial questions, provide intelligence to support strategic decision-making, administer the faculty compensation plan, and support clinical and research operations, among others.
• Develops, prepares and interprets regular and ad-hoc financial reports to provide analyzed information in an easily understandable manner.
• Makes recommendations based on findings.

Financial Administration of Clinical Service Agreements

• Assists in the financial evaluation of new or renewal agreements.
• Provide recommendations to the Chief of Cardiology and Assistant Director of Finance.
• Prepares and submits invoices to externally contracted organizations.
• Calculates monthly contract revenue accruals.
• Reconciles expected vs. actual payments to ensure contract revenue is received and appropriate.
• Tracks various financial components for agreements.

Financial Controls & Accounting

• Participates in financial controls activities such as ledger reconciliation and review to ensure the integrity of the Institute’s financial results and accounts.

Other duties as assigned.

MINIMUM EDUCATION & EXPERIENCE

• Bachelor's degree in Finance, Accounting, Heal