Senior Director of Finance

3 weeks ago

Philadelphia, United States Morgan Stephens Full time
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Description

Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.

Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?

Position: Senior Director of Finance

Entity: Clinical Practices of the University of Pennsylvania (CPUP)

Department: Anesthesia and Critical Care

Location: 3400 Spruce St.

Hours: Full Time, Per Departmental Needs

Summary:

The Senior Director of Finance works closely with the department Chief Operating Officer (COO), and Central CPUP Finance to oversee the Department Financial Operations at multiple sites, including Clinical, Research Administration, Funds Flow (IETs), Academic Development Funds, Endowments, Service Centers and restricted/unrestricted funds held within PSOM, and in the development of financial analytics to align with CPUP business objectives. Will over-see monthly financial reporting and variance processes for the department, annual budget and current year projections, as well as five-year department / division level projection. Will work closely with Department COO to prepare business plans for new business ventures, will review and oversee process for reporting provider productivity vs. standards, and will oversee modeling, tracking, and analyzing of faculty incentive plans. The Senior DOF is responsible for a portfolio of Operating Revenue and Expense in excess of $50M.

Responsibilities:
  • Responsible and accountable for having financial statements and statistical results accurately and consistently reported and prepared on an accrual basis in conformity with general accounting principles and in accordance with Penn Medicine policies and procedures. In addition, the individual must have a working knowledge of University/SOM/Hospital/VA side of financial operations.
  • Accountable to maintain a system of internal/business controls which are designed to provide reasonable assurance to Penn Medicine Management and Trustees that the information for the department is accurate, timely and reliable.
  • Over-see the monthly financial reporting and variance processes for the department. This includes: review of department, divisional, and physician level income statement and Department balance sheet financial statements.
  • Prepare, review, and analyze the department's financial statements including; Patient A/R, Gross & Net Patient Revenue, Other Operating Revenue, InterEntity support and Expenses. Initiate and create remediation plans to improve finances, as needed.
  • Plans and projects revenue, rate, volume, payer mix, service mix; work RVU's for new and existing programs, sites, practices, and clinicians. Works with CPUP Finance to identify trends or potential issues. Communicates to department (COO, physician, revenue leaders) to discuss potential impact and create remediation plans.
  • Accountable for annual budget and current year projections including; department and division P&L projections in a manner to project sufficient detail at a physician level. In addition, prepare a multi year department/division level projection (per guidance with CPUP Finance).
  • Communicate with colleagues to be aware of strategies to enhance patient satisfaction and patient access along with modeling financial implications to drive strategy implications and improvement.
  • Presents financial data, provides explanations, communicates data and leads discussion with relevant stakeholders (Chair, Division Chief, COO, Health System/PSOM Administration), as requested; Accountable for standard financial "package" of information in advance of physician recruitment. Where needed, work closely with Department Chair, Faculty Coordinator and Department COO to complete package.
  • Holds regular meetings and develops working relationship with University counterpart(s) regarding grants, gifts, and endowments to understand relevant touch points between the University and CPUP financials. Role may include direct report oversight of Research Director of Fiscal Operations (May not apply to all departments).
  • Holds regular meetings and develops working relationship with Revenue Cycle counterpart(s) regarding A/R, reimbursement issues, collections, and understand relevant touch points between the Professional Billing Office (PBO)and CPUP financials. Role may include direct report oversight of Director of Revenue Cycle (May not apply to all departments).
  • The Senior DOF is expected to oversee the Business Office and at least either Revenue Cycle or Research FInance.
  • Responsible for Department cash management related to CPUP clinical operations.
  • Work collaboratively with CPUP Finance (central administration) on funds flow rebasing process every three years.
  • Maintains knowledge and current skills using Lawson/PennFor, Essbase, Smartview, Hyperion Reports and Planning, Epic APM, Epic Business Objects/SSRS, PennDiver, MS Office Suite, etc. Attend education sessions and seek coaching from CPUP Finance in becoming proficient with applications.
Credentials:
  • Certified Public Accountant Preferred.
Education or Equivalent Experience:
  • Bachelor's Degree in Accounting, Finance, or Business Administration Required.
  • Master's Degree in Accounting, Finance, or Business Administration Preferred.
  • 7+ years hands on general accounting experience Required.
  • Physician Practice Plan experience Preferred.
Skills & Abilities:
  • Thorough knowledge of established accounting principles, standards and practices and great attention to detail are Required.
  • Ability to work well in a team environment, handle multiple tasks with deadlines and pressure, adjusting work schedules to meet deadlines Required.
  • Ability to work with standard software packages in a Windows-based environment Required.
  • Knowledge and use of: Lawson, Hyperion Reports and Planning, EPIC, and Essbase Preferred.
We believe that the best care for our patients starts with the best care for our employees. Our employee benefits programs help our employees get healthy and stay healthy. We offer a comprehensive compensation and benefits program that includes one of the finest prepaid tuition assistance programs in the region. Penn Medicine employees are actively engaged and committed to our mission. Together we will continue to make medical advances that help people live longer, healthier lives.

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