Financial Analyst

2 weeks ago

Reno, United States Tahoe Forest Health Full time
This position is not a remote role and is expected to sit in Reno, NV.

Bargaining Unit: Non Represented - Professional

Rate of Pay: $46.19/hour + DOE

Summary
The Financial Analyst supports our mission of providing high-quality healthcare. This position is involved with strategic planning, management reporting, budget management, cost accounting, and productivity enhancements.

Essential Duties and Responsibilities

Strategic Planning Analysis

  • Strategic Planning Facilitation: Partner with senior management to facilitate the strategic planning process, ensuring the development and monitoring of robust multi-year financial plans and detailed service line analyses tailored to evolving healthcare demands.
  • Trend Projection and Forecasting: Utilize advanced analytical tools and methodologies to project future trends and prepare detailed operational forecasts enabling informed decision-making and strategic alignment.
  • Financial Recommendations: Provide strategic financial insights and recommendations to management, focusing on long-range financial health and operational effectiveness, supporting sustainable growth and strategic objectives.
  • Program Feasibility and Evaluation: Develop comprehensive financial feasibility studies for proposed new programs and initiatives, assessing their potential impact on the healthcare system's strategic goals. Participate actively in the financial and operational evaluation of all service lines to ensure alignment with the organization's strategic framework and financial targets.
  • Service Line Analysis: Conduct in-depth evaluations of the financial performance and strategic viability of all service lines and facilities, employing a mix of quantitative and qualitative analysis techniques to recommend enhancements or modifications to strategic plans.
Financial Reporting and Modeling
  • Performance Reporting: Deliver comprehensive periodical financial performance reports, including monthly, quarterly, and annual reviews. Analyze and present data on financial results, productivity, and operational efficiency to management, ensuring timely insights for strategic decisions.
  • Cost Accounting and Variance Analysis: Conduct detailed cost accounting and reporting, enabling precise tracking of operational costs against budgets. Provide insightful variance analyses and explanations for significant discrepancies, aiding in corrective actions and financial optimization.
  • Productivity Reporting: Generate regular productivity reports, highlighting efficiency and effectiveness across various departments. Use these insights to drive discussions on process improvements and resource allocation with department heads and management.
  • Strategic Financial Analysis: Assist in short and long-term financial planning by leveraging historical data and market trends to forecast future financial scenarios. Offer strategic insights to guide the organization's financial policies and practices.
  • Data Integrity and Validation: Ensure the accuracy and reliability of financial data through meticulous validation processes and regular audits. Implement robust verification procedures to maintain the integrity of reported information, supporting trust and transparency in financial disclosures.
  • Support for Internal Stakeholders: Act as a primary financial analyst contact for internal stakeholders by providing them with tailored financial reports and analyses. Educate and assist them in understanding complex financial information and its implications for their operations.
Budgeting and Cost Analysis
  • Budget Development and Management: Lead the preparation and management of annual budgets, engaging with department heads to ensure alignment with strategic objectives and operational needs. Facilitate iterative review sessions to refine budget proposals and integrate feedback from key stakeholders.
  • Cost Modeling and Processing: Develop and refine cost models to accurately predict the financial impacts of various service lines and operational activities. Implement efficient cost processing systems that enhance the accuracy of financial reporting and support strategic decision-making.
  • Cost Analysis and Allocation: Perform detailed cost analyses and allocations, determining the expenses associated with delivering specific healthcare services across the organization's diverse service lines. Employ sophisticated models to accurately distribute overhead and payroll expenses, thereby enhancing financial transparency and accountability.
  • Budgetary Guidance and Training: Offer continuous budgetary guidance and training to departmental leaders, enhancing their understanding of budgetary processes and financial stewardship. Encourage proactive management of departmental budgets to optimize financial performance and meet organizational goals.
Data Analysis and KPI Development
  • Data Management and Reporting: Oversee the extraction and processing of data from the Epic system to generate comprehensive reports on patient volumes, operational productivity, and other critical metrics. Ensure data integrity and accuracy in all reports delivered to management.
  • KPI Development and Monitoring: Design and implement key performance indicators (KPIs) that accurately measure and track the efficiency and effectiveness of various healthcare services. Regularly review and refine KPIs to align with organizational goals and industry standards.
  • Analytical Support for Strategic Decisions: Utilize data analytics to provide actionable insights that support strategic decision-making. Translate complex data sets into clear, concise, and meaningful reports that inform management on critical operational and financial aspects.
  • Performance Benchmarking: Conduct benchmarking studies to compare organizational performance against industry standards and best practices. Use findings to recommend improvements and innovations in service delivery and operational processes.
  • Collaboration with Functional Teams: Work closely with various departments to ensure that data collection and reporting systems are optimized for accuracy and functionality. Address any technical issues in data extraction or reporting promptly and efficiently.
  • Training and Capacity Building: Develop and conduct training sessions for staff on how to utilize and interpret KPIs and other financial reports. Enhance data literacy across the organization to foster a data-driven culture.
Ad Hoc Reporting and Operational Flexibility
  • Ad Hoc Reporting: Respond swiftly to requests for ad hoc reports from various departments, providing detailed and timely data analysis tailored to specific needs.
    Employ analytical skills to solve unique problems and support diverse organizational projects.
  • Operational Adaptability: Stay adaptable and responsive to changes in healthcare operations and strategic direction. Proactively update and adjust responsibilities as required to align with new operational needs and strategic objectives.
  • Continuous Improvement: Regularly identify opportunities for process improvement and enhanced reporting capabilities. Initiate projects to streamline reporting procedures and increase the efficiency of data analysis tasks.
Demonstrates System Values in performance and behavior.

Complies with System policies and procedures.

Performs other duties as required and assigned.

Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Supervisory Responsibilities
No supervisory responsibilities.

Minimum Education/Experience
Bachelor's Degree Finance or Accounting from four-year College or University

3 or more years relevant experience

Required Licenses/Certifications
None

Other Experience/Qualifications

Required:
  • Technical Skills: Advanced Microsoft Excel functions and formulas, capable of managing large datasets and performing complex financial analysis.
  • Analytical Expertise: Demonstrated ability to apply quantitative and qualitative analytical skills in a healthcare setting.
  • Proactive, adept at using advanced analytical tools, and capable of generating detailed financial reports and leading budget initiatives
Preferred:
  • Technical Skills: Strong proficiency in SQL
  • Industry Experience: Prior experience in healthcare finance, demonstrating a deep understanding of the financial dynamics specific to the healthcare sector.
  • Advanced Degree: MBA preferred, with a concentration in Finance, Healthcare Administration, or a related field.
  • Systems Proficiency: Experience with healthcare information systems such as EPIC and financial management systems like Syntellis/Axiom highly desired.

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