Sr. Director, Finance

On-Site

Miami, FL

Full time

R100095315

Current Employees:

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The Urology Department is seeking a Sr. Director of Finance to work full-time, on-site in Miami, FL.

The Sr. Director, Finance acts as principal advisor regarding all financial matters which may affect the short-term or long-term financial success of the University. More specifically, the Director, Finance oversees the development, implementation, and administration of internal controls and operating systems and establishes financial policies in accordance with generally accepted accounting principles, tax regulations, and existing federal and state laws. The ideal candidate for this role should hold 8 years minimum of healthcare financial experience.

CORE JOB FUNCTIONS1. Establishes budgets and audit process for all facilities and provides appropriate training to management.

1. Communicates financial policies and matters to appropriate finance committees.

2. Prepares appropriate financial reports necessary to show overall financial performance.

3. Develops and manages strategies to maintain the financial well-being of the organization.

4. Determines economic implications and feasibility for modifications to existing systems and installation of new systems.

5. Provides financial analyses, feasibility studies, and others to translate strategic plans into quantifiable data and analysis.

6. Cultivates and maintains payor contract relationships and develops joint venture and collaborative arrangements with external parties.

7. Invests excess short-term and long-term cash and investment portfolios to maximize the return on investment while maintaining the safety of the investments.

8. Conducts timely and thorough analysis of the financial results and forecasts the budgeting processes.

9. Develops timelines, the planning calendar, and planning templates, and improves the planning cycles.

10. Supports financial reporting accuracy and early warning of variances to budget or project risks.

11. Ensures that all standard operating processes (SOPs) are implemented or updated.

12. Establishes and continuously assesses the effectiveness of the internal controls within the unit and compliance with University policies and procedures. Ensures employees are trained in controls within the function and on University policy and procedures.

This list of duties and responsibilities is not intended to be all-inclusive and may be expanded to include other duties or responsibilities as necessary.

CORE QUALIFICATIONS

Education:Bachelor’s degree in relevant field required

Experience:Minimum 10 years of finance experience, in a healthcare setting required for at least 3-4 years referred

Knowledge, Skills and Abilities:- Strategic Alignment: Skilled in aligning departmental goals with enterprise-wide strategy and develops comprehensive strategic plans.- Financial Management: Ensures fiscal responsibility, and optimization of financial performance.- Resource Management: Ability to allocate resources and drive innovation and growth.- Adaptability: Proven ability to adjust to changes and leads/inspires transformational change.- Team Leadership: Ability to build and lead high-performing teams, manage complex projects, and ensure successful project delivery.- Technology & Analytics: Understanding of technology, data analytics, and performance measurement to drive strategic decisions and identify opportunities.- Communication: Ability to influence others, articulate strategic vision, and ensure clear and persuasive communication.

Primary Duties and Responsibilities:

• Provide accurate and timely management and decision-making information; highlighting improvement initiatives and action plans for assigned departments.

• Participate and contribute on the design and development of business initiatives to include key performance indicators and benchmarks linking performance to strategy. Make recommendations in strategic long range and tactical planning by providing financial analyses and business evaluation reports and information.

• Conduct fiscal analysis of the departments by preparing and reviewing the monthly and quarterly financial reports, creating forecasts for each department and generate relevant commentaries of key variances to budget, highlighting risks and opportunities to achieving goals and impact upon operations.

• Prepare detailed budgets and operational forecasts for all level of activities conducted by the Department while meeting University guidelines and deadlines.

• Present summarized monthly departmental performance report with key indicators (financial and non-financial) including, income statements, reconciliation and faculty productivity reports.

• Develop financial metrics and monitor faculty performance to make recommendations regarding compensation plans and potential areas for increased revenue.

• Develop and implement financial reporting and analysis to include clinical and research activities by individual areas and physicians.

• Contribute to the development of growth opportunities, studying economic trends, competitive analysis, market share and business case development including scenario planning

• Work with the department administrators and Chairs alongside Planning and Analysis to support the development and management of Chair packages, analyzing the impact of new recruits, acquisitions, etc.

• Develop management and budgetary controls including forecasts and business plans to analyze and generate potential growth and profitability.

• Assist departments with performing economic evaluation of new programs/capital equipment and prepare budgets, financial plans, including financial analysis and business case evaluation highlighting value for money and affordability issues.

• Ensure proper month end and financial year-end closing process necessitated from the activities highlighted above.

• Conduct fiscal analysis, ad-hoc investigation and reviews as directed by department leadership.

• Review and audit all departmental accounts, sponsored and non-sponsored, for accuracy. Perform operational audits and maintenance of operational expenses to include network, telecom, duplication, lease equipment, service agreements, freight charges, and take necessary corrective actions.

• Maintain and enforce all internal controls, financial policies and procedures in compliance with UHealth policies. Liaison with Internal Audit. Responsible for department financial audits and internal cash control.

• Develop AOA fiscal and certification reports

• Initiate and process all departmental Non-Salary charges (FA-11) journals as necessary to include but not limited to Federal Express charges, monthly lines & set, monthly voice mail, DVR charges, IRB charges, interdepartmental transfers, etc.

• Allocate salary effort and adjust on a monthly basis (as needed) for all departmental employees (A01, A02, A03, and A06) on sponsored and non-sponsored accounts.

• Approve all financial Workday, Ariba (E-BERFs, E-Checks, POs), paper documents such as (BERFs, IDRs, Physical Plant work orders, Telecommunications work orders, etc) ensuring accurate account numbers and sub codes utilized, and verify funding availability in accounts.

• Complete and process all financial information for new faculty (Sources & Uses) and staff hires.

• Develop, process and disseminate internal monthly P&L reports for each clinical faculty.

• Develop and process monthly productivity reports (including clinical charges, clinical revenue, patient volume and wRVUs) for each clinical faculty and Paid Voluntary faculty by fiscal year.

• Develop and process reports for the departments’ compensation plan; process the paperwork required for changes in salary as required and ensure completion and approval in Workday.

• Develop and process internal individual and departmental monthly P&L reports for each faculty.

Knowledge, Skills, and Abilities:

• Ability to work under pressure and under tight deadlines and multiple competing priorities

• Team player with strong communication skills to support the delivery of goals and objectives.

• Flexible, adaptable and committed to excellence and continuous improvement with highly developed problem solving skills to understand complex information and make informed decisions on a timely basis.

• High level of integrity to ensure no breaches in financial control procedures

• Excellent written and verbal communication skills

• Performs in accordance with generally accepted accounting principles, current UM Policies, professional standards, corporate governance and best practice.

• Proficient in MS Office (Excel – financial modeling and complex data management skills, Word, Power Point and experience in Finance Systems).

• Strategic Alignment: Skilled in aligning departmental goals with enterprise-wide strategy and develops

• comprehensive strategic plans.

• Financial Management: Ensures fiscal responsibility, and optimization of financial performance.

• Resource Management: Ability to allocate resources and drive innovation and growth.

• Adaptability: Proven ability to adjust to changes and leads/inspires transformational change.

• Team Leadership: Ability to build and lead high-performing teams, manage complex projects, and ensure successful project delivery.

• Technology & Analytics: Understanding of technology, data analytics, and performance measurement to drive strategic decisions and identify opportunities.

• Communication: Ability to influence others, articulate strategic vision, and ensure clear and persuasive communication.

DEPARTMENT SPECIFIC JOB FUNCTIONS

1. Lead the financial strategy, planning, budgeting, forecasting, and reporting for the Desai Sethi Urology Institute (DSUI) and Executive Health. 2. Serve as the principal financial advisor to the Institute Founding Director, Department Chair, and Senior Administrative Officer, providing strategic financial analyses and decision support. 3. Oversee financial performance by monitoring operating results, physician productivity, revenue, expenses, and key performance indicators while identifying opportunities to improve financial outcomes. 4. Direct financial planning and business analyses for new clinical programs, physician recruitment, ambulatory expansion, research initiatives, and capital investments. 5. Partner with Revenue Cycle, Clinical Operations, and physician leadership to optimize reimbursement, charge capture, operational efficiency, and overall financial performance. 6. Provide financial oversight for faculty compensation, productivity, FTE management, grants, research funding, and Executive Health membership programs. 7. Ensure compliance with institutional financial policies, regulatory requirements, internal controls, and audit standards. 8. Develop executive dashboards and present financial performance, forecasts, and strategic recommendations to senior leadership and governing committees. 9. Lead and mentor the departmental finance team while fostering collaboration across Finance, Research Administration, Human Resources, Revenue Cycle, and Clinical Operations. 10. Drive continuous improvement initiatives that enhance operational efficiency, financial sustainability, and long-term strategic growth.

This list of duties and responsibilities is not intended to be all-inclusive and may be expanded to include other duties or responsibilities as necessary.

The University of Miami offers competitive salaries and a comprehensive benefits package including medical, dental, tuition remission and more.

UHealth-University of Miami Health System, South Florida's only university-based health system, provides leading-edge patient care powered by the ground breaking research and medical education at the Miller School of Medicine. As an academic medical center, we are proud to serve South Florida, Latin America and the Caribbean. Our physicians represent more than 100 specialties and sub-specialties, and have more than one million patient encounters each year. Our tradition of excellence has earned worldwide recognition for outstanding teaching, research and patient care. We're the challenge you've been looking for.

The University of Miami is an Equal Opportunity Employer. Applicants and employees are protected from discrimination based on certain categories protected by Federal law.

Job Status:

Full time

Employee Type:

Staff

The mission of the University of Miami is to transform lives through education, research, innovation, and service. A vibrant and diverse academic and healthcare community, the University of Miami and the University of Miami Health System ("UHealth") have rapidly progressed to become one of the nation’s top research universities and academic medical centers in the nation.

The University comprises 12 schools and colleges serving undergraduate and graduate students in more than 350 majors and programs. Visit welcome.miami.edu/about-um to learn more about our points of pride.

The University ranks No. 55 on U.S. News & World Report’s 2022 Best Colleges list and ranked No. 49 in the 2022 Wall Street Journal/Times Higher Education College Rankings.

Bascom Palmer Eye Institute is ranked the #1 eye hospital in the USA and offers some of the nation's premiere eye doctors to treat every eye condition for adults. Sylvester Comprehensive Cancer, part of the Miller School of Medicine, received the prestigious National Cancer Institute designation in 2019.

The University of Miami and UHealth have also ranked among the Forbes Best Employers and Best Employers for Women on several occasions, most recently in 2022.

With more than 17,000 faculty and staff, the University strives for excellence, and is driven by a powerful mission to transform and impact the lives of its students, patients, members of the community, and people across the globe.

The University of Miami is an Equal Opportunity Employer. Applicants and employees are protected from discrimination based on certain categories protected by Federal law.