Senior Financial Analyst - Department of Medicine

Department/Unit:
Medicine - General

Work Shift:
Day (United States of America)

Salary Range:
$64,972.00 - $97,458.00

Senior Financial Analyst
Department of Medicine
Albany, NY

The Senior Financial Analyst is responsible for financial planning, analysis, forecasting, and reporting activities. This role analyzes financial data, identifies trends, and provides recommendations to support strategic business decisions. This individual would assist the Department Chair and Administrator with tracking and forecasting of operational cost centers as well as discretionary funds. The Senior Financial Analyst works closely with the Department of Medicine leadership team to improve financial performance and operational efficiency.

Key Responsibilities

Financial Planning & Analysis funds

The Senior Financial Analyst works closely with the Department of Medicine leadership team to improve financial performance and operational efficiency

• Develop and maintain financial models to support business planning and forecasting.
• Assist with preparation of annual budgets, quarterly forecasts, and long-term financial plans.
• Analyze financial results and variances compared to budgets and forecasts.
• Review CME requests to determine appropriate funding sources
• Review endowment cost centers within the Department of Medicine .and provide monthly reports showing end of year forecast.

Financial Reporting

• Prepare monthly, quarterly, and annual financial reports of actual performance compared to budget to include:
  
  • RVU tracking
  • Charges
  • High dollar expense tracking compared to charges
  • Endowments
  • Donations
  • Research cost centers
• Review and prepare quarterly provider incentives.
• Present financial insights and recommendations to leadership.
• Ensure financial data accuracy and consistency.

Data Analysis

• Analyze revenue, costs, profitability, and financial trends.
• Identify opportunities to improve efficiency and reduce costs.
• Provide actionable insights based on financial data.

Cross-Functional Collaboration

• Partner with department leadership such as Chair, Administrator, Practice Managers, Practice Coordinators, Nursing Supervisors, and Division Chiefs to support critical decision-making.
• Collaborate with finance staff, sponsored programs, and the Office of Research Affairs.

Process Improvement

• Improve financial reporting processes and tools.
• Implement best practices in financial analysis and planning.

Required Qualifications:

• Bachelor's degree in Finance, Accounting, Economics, or related field is required
• Minimum of 5 years of experience in financial analysis or corporate finance
• Strong financial modeling and analytical skills
• Advanced Microsoft Excel skills
• Strong communication and presentation skills

Key Skills

• Financial modeling
• Budgeting & forecasting
• Data analysis
• Business strategy
• Communication & presentation
• Problem-solving

Thank you for your interest in Albany Med Health System!

Albany Med Health System is an equal opportunity employer.

This role may require access to information considered sensitive to Albany Med Health System, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes. Workforce members are expected to ensure that:

Access to information is based on a "need to know" and is the minimum necessary to properly perform assigned duties. Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose. Reasonable efforts, consistent with Albany Med Health System policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.