Director, Finance (SOM)

School of Medicine

 

Established in 1930, Duke University School of Medicine is the youngest of the nation's top medical schools. Ranked sixth among medical schools in the nation, the School takes pride in being an inclusive community of outstanding learners, investigators, clinicians, and staff where interdisciplinary collaboration is embraced and great ideas accelerate translation of fundamental scientific discoveries to improve human health locally and around the globe. Composed of more than 2,600 faculty physicians and researchers, nearly 2,000 students, and more than 6,200 staff, the Duke University School of Medicine along with the Duke University School of Nursing, and Duke University Health System comprise Duke Health, a world-class academic medical center. The Health System encompasses Duke University Hospital, Duke Regional Hospital, Duke Raleigh Hospital, Duke Health Integrated Practice, Duke Primary Care, Duke Home Care and Hospice, Duke Health and Wellness, and multiple affiliations.

 

OCCUPATIONAL SUMMARY

 

The Director of Finance provides leadership to the SOM Finance Office and the departments they serve within the School as it relates to financial management and reporting practices, development of the operational budget, evaluation and design of effective IT tools, and development and implementation of strategic initiatives to meet the growing needs of the School. The position reports directly to the Assistant Dean, Associate Director for Finance, assisting with the coordination and control of programs, projects and activities within the School. 

 

WORK PERFORMED

 

(25%) Responsible for development of the annual operating budget for the School. This requires analysis of the budget objectives, evaluation of new requests for funding and review of budget priorities with senior leaders.  Maintain critical analysis of financial trends, such as the Indirect Cost Recovery of the School (F & A):

 

• Create the consolidated School of Medicine budget and projections, working with the FMA III to develop the top-down budgets and projections for departments, centers and institutes using historical trend and current year activity and projection information from the departments, centers and institutes.
• Twice a year update the long-range plan (5 years) in GAAP format, to be incorporated into the University’s long-range plan
• Responsible for the annual budgeting and reporting of the School’s debt and the associated endowment funds that support debt service.

 

(25%) Financial Reporting - Responsible for the timely compilation (according to a pre-defined schedule) and review of the quarterly financial reporting package including budget versus actual results, indirect cost recovery, current funds projection, and various supporting schedules. Responsible for the year end reporting process to include:  variance analysis in both cash (BOT) and GAAP format provided to the Executive Vice Dean for Administration and the DU Corporate Finance Office; create numerous financial slides for use in various leadership presentations.  Must be facile in linking the GAAP, fund accounting and LCME AFQ reporting on a regular basis with explanations that faculty leaders can understand quickly.

 

(15%) Manage the work performed by the Financial Management Analyst III as it relates to performing the following activities:

 

• Creation of the annual financial model for the SOM departments, centers and institutes, including the UME model, Chair support and GME support.  The UME model requires much coordination with Medical Education and departments, to get accurate data for providing support
• Creation of the space model, both for current year actual costs and new year budgeted space invoices. 
• Plan, develop and coordinate the School’s annual capital budget and five-year capital plan.
• On-going review of construction project request forms (CPRF), monitoring of 721 codes for overdrafts, and review and sign-off of University Project Closeout Forms.
• For leased space, calculate net present value of lease and complete University Lease Request Forms.

 

(15%) Prepare various institutional surveys including the AAMC AFQ and overview survey; the NSF HERD survey and the AAMC Faculty Salary Survey. 

 

(5%) Manage the School’s acco