SENIOR FINANCIAL ANALYST

Summary

Under the direction of the Director of Financial Analysis Services, incumbent performs at an advanced level of all aspects of financial analysis, financial systems, processes, procedures, assessment/ improvement, and project management. The incumbent manages multiple and simultaneous projects ranging from moderate to complex and assembles the necessary resources and individuals to efficiently and effectively bring projects to completion in a timely and interdependent approach. Incumbent contributes to the development of financial management skills for to department directors/managers as requested/warranted based on an advanced understanding financial management principles and an understanding of department/hospital operations. Incumbent exhibits a high level of attention to detail, a strong understanding of financial systems/processes and controls, and strong customer service/communication skills. Incumbent also contributes to the guidance and development of other analysts. This position also requires excellent oral and written communication skills.

This position reports to the Director of Financial Analysis Services and assists in orientation/training of Financial Analysts .

Key Job Activities:

• Reports, analyzes, and interprets financial data for senior and mid-level management staff. Such reporting, analysis, and interpretation may include but is not limited to: cost analysis, revenue initiatives, service and product line profitability, pricing analysis and other ad-hoc analysis.
• Assumes an active and leadership role in the preparation of the annual cost reports for third party reimbursement agencies. Provides direction to Financial Analyst in the preparation of same.
• Assumes an active leadership role in the annual development, organization, and on-going monitoring of the Annual Budget as assigned. Recommends changes and works with appropriate managers/directors on interventions as appropriate. Provides direction to Financial Analyst in the preparation of same.
• Performs timely analysis and synthesis of specific projects (i.e. prepares detailed work plan and schedule, completes detailed analysis and research, identifies options, prepares reports for management, and recommends changes) using advanced financial skills and operational understanding.
• Develops appropriate financial models for specific projects using appropriate financial principles and practices. Standardizes business and financial analysis templates.
• Prepares financial analysis on specific areas/cost centers, reviews contractual agreements, highlights financial performance issues in conjunction with, but not limited to, Premier Operations Advisor and Value Analysis Committee (VAC) and prepares reports for management. Effectively partners with appropriate manager/director on issues for resolution.
• Provides timely and thorough communications to Directors, Vice Presidents and senior management on regarding status/progress of assigned projects.
• Works with high proficiency with hospital systems (DSS, ESS, Meditech, Medisolv, Med Assets) and with all Microsoft software applications.
• Provides advanced-level contract review, analysis and synthesis for Directors, Vice Presidents and senior management as requested.
• Takes initiative to engage in cost-saving and revenue researching and generating opportunities for the Sinai Health System and tracks them accordingly. Works with the appropriate managers/directors engaging them and implementing changes.
• Contributes to the mentoring of Financial Analysts in the department. Participates in Financial Analyst orientation and training.
• Assists in the formulation of the departmental policies and procedures and makes recommendations and offers guidelines that support the organizations objectives to improve financial performance.
• Demonstrates an awareness of the Health Insurance Portability and Accountability Act (HIPPAA) and hospital policies in exercising due discretion when generating reports, sharing information and disclosing information both internally and to external parties.
• Develops and maintains professional contacts with reimbursement agencies, accounting firms and other professional companies and organizations.
• Demonstrates ability to work on multiple projects simultaneously.
• Demonstrates willingness to accept direction in a positive manner.
• Performs other duties as assigned.

Education and Work Experience:

• Bachelors degree, preferably in the areas of Finance, Accounting, Business or Economics; Masters Degree preferred
• Minimum four (4) years of financial analysis experience preferred including at least two (2) years of progressive responsibility/exposure.
• Previous system/process implementation experience is preferred.
• Experience in budgeting and leadership role in financial projects desirable

Knowledge and Skills:

• Excellent math and communications skills
• Excellent analytical and problem-solving skills
• Demonstrated ability to understand and utilize computer systems and applications as tools for analysis (knowledge of various financial/accounting software programs is desirable)
• Experience in EPIC and MEDITECH software systems preferred.