Senior Financial Analyst

Overview

WMU Homer Stryker MD School of Medicine (WMed) is seeking a Senior Financial Analyst to join the finance department. The Senior Financial Analyst performs a broad range of planning and analysis for WMed and affiliated companies.  Monitors actual results of financial data against plans and budgets, determines trends, and explains financial results.  Prepares detailed reports and presentations for review by all levels of management. Also, provides moderately complex financial analyses and reports as needed.  Analyzes financial data by collecting, monitoring, and creating budgets and benchmarks, determines trends and helps to explain results.  Gathers, organizes and documents relevant financial information. Provides oversight and coordination of operating reports and statutory filings for assigned functional areas. Leads and manages projects and continuous improvement efforts as defined by Administration, using standard approach (define, plan, implement, and monitor).   Provides analytical expertise and comparative analysis to support complex decision-making by Administration. 

 

Areas of focus may include:

Faculty compensation analysis 

Assists Associate Dean of Administration and Finance in implementing and overseeing elements of the Physician Compensation Program, to include quantitative and qualitative analysis of healthcare and financial data, annual compensation calculations, oversight of payroll approvals and financial accruals, benchmarking of faculty and physician comp and productivity statistics, budgeting physician data (labor budget, revenue budget, and statistical budget); assists with decision support for financial proformas; provides construction of databases and reports. 

 

Revenue cycle analysis:

Independently reviews and monitors the overall financial status of clinical revenue from services provided in clinical settings. Reviews, designs, and implements processes for pricing and performs financial analyses to ensure that the clinical revenue cycle is effective. Performs close revenue monitoring following events that could impact the physician revenue cycle including the addition of outpatient clinics, new services or specialties. Presents findings, when appropriate, to providers and clinic leadership. 

 

Management and monitoring of state sponsored programs:

Regular review for program participation eligibility and required attestations.  Reconciliation of funds flow and calculation of fund distribution to participants. 

 

This position requires a high level of integrity as it deals closely with confidential information. 

Responsibilities

• Provide timely, relevant and accurate reporting & analysis of the results of the organization’s performance against historical, budgeted, and strategic planning results to facilitate decision-making toward the achievement of the budget and strategic plan.
• Possesses an understanding of the business and user needs in order to provide budget insight and solutions.
• Analyze data to ensure proper accounting procedures have been followed. Investigate and report inconsistencies or improprieties.
• Analyze financial data by collecting, monitoring, identifying trends, and creating financial models to share and recommend actions to administration.
• Maintain controls to assure the integrity of financial data and compliance with GAAP which may include:
  • Develop sound revenue cycle analysis and reporting; track metrics related to the patient engagement cycle. Responsible for updating and maintaining the Charge Master/Fee schedules and propose process improvements related to reimbursement methodologies   
• Participate in compensation management by providing financial and analytical support for the compensation accounting processes. Respond to ad-hoc projects related to compensation program.
• Assist with new business processes.
• Prepares and distributes detailed reports and presentations for review by all levels of management.
• Prepare and analyze account reconciliations and analysis promptly for assigned functional areas.
• Assists with the development, implementation and ongoing integrity of the financial accounting system.
• Prepare monthly balance sheet, income statement and changes in financial position/budget variance analysis for assigned functional areas.
• Recommend actions by analyzing and interpreting data and making comparative analyses.
• Maintain and develop various financial models for use by the organization during the planning processes, ensuring quality, accuracy and focused analytic review.
• Assist with the annual budgeting process.
• Prepare financial reports, charts, tables and other exhibits as requested
• Demonstrate appropriate understanding / working knowledge of accounting principl