director of financial reporting and budgeting

POSITION PURPOSE

Under the general guidance of the School of Medicine Senior Director of Finance the Director of Financial Reporting and Budgeting has senior management responsibility for a wide range of School of Medicine (SoM) operations, including leading the school-wide budget and forecast development, budget to actual performance review, financial management reporting, long range strategic planning, special project support, and other important financial functions residing in the Dean's Office and across the School of Medicine.

This position acts in an advisory capacity to SoM Senior Management by providing research and analytical support on important financial issues and must demonstrate effective project management analysis and sound business judgment. The Director position directly impacts the financial decisions made by School of Medicine executive management. The issues are normally complex and there may not be precedent for the situation. The Director's recommendation will influence policy and procedure, as well as operational and strategic decisions.

Subjective judgment is required, and in the frequent case where existing SoM or UW policies or systems will not support a new business issue, the position must be able to synthesize current facts and circumstances, then develop, propose, and implement a solution that will achieve the project goals as well as comply with SoM and UW policies and procedures. The job includes multiple and rapidly changing daily work priorities/deadlines in a dynamic environment. This position provides critical input and makes assessments of business activities that will affect the preparation of annual UWM Central Budget/Dean's Office and academic department budgets in accordance with SoM and University procedures and timetables. Analyses variances from said budgets and make recommendations for action to maintain and/or improve the assistance provided.

The Director must be able to use critical thinking to identify an appropriate solution, and use negotiating skills to determine how SoM or UW policies or systems could be modified. In some cases, complex and politically sensitive issues may arise unexpectedly, requiring immediate attention, therefore the Director must be able to handle ongoing and continuous issues while responding quickly and appropriately to special cases.

DUTIES AND RESPONSIBILITIES
This position is responsible for key Dean's Office activities such as budgeting, forecasting, reporting, and financial analysis in the School of Medicine. This includes accumulating, synthesizing, and integrating information to make independent decisions and take individual action in support of and in the absence of the Director(s). This position is expected to proactively seek information from a variety of internal SoM departments, divisions and executive-level individuals, and, on occasion, external organizations. The SoM Deans Office Financial Reporting and Budgets Department is responsible for the following areas:

•Leading the annual budget process for SoM (Dean's Office, Departments, Institutes, UW Medicine Central Budget group).

•Developing monthly reporting and quarterly forecasts for all units/departments on a budget vs. actual basis.

•Developing and preparing SoM monthly UW Medicine Close Call Report.

•Developing SoM financial management financial reports based on leadership needs.

•Directing the annual AAMC-LCME Part 1-A (financial questionnaire required for SoM medical school accreditation).

•Completing all key external surveys for SoM.

•Facilities Indirect Cost Recovery process with Provost office.

•Other duties include ad-hoc financial analysis and a wide range of responsibilities to include directing and implementing special projects of academic departments, supervision of professional staff who are performing complex analyses, financial reporting and analysis, operational assessments, revenue enhancement and expense reduction reviews. The scope of the position will also include involvement in grant and contract reporting, account reconciliation and analysis, financial report development in Workday Financials and implementation, and transaction level approval.

Lead SoM Budget Process (30%):
The budget process is in full swing from December thru May annually. The Director oversees the following major responsibilities related to the process:

•Direct the SoM budget process using Adaptive including 32 SoM departments, Institutes, Dean's Office, and UWM Central Budget units. Overall budget is over $2B of activity.
oDevelop SoM department annual budget plan which includes over $ in activity with 32 departments. Process includes collaborating with UWM and academic units.
oDevelop Dean's Office annual budget plan which includes over $200M in activity with over 15+ operational units and SoM facilities which includes about $77M in activity.
oDevelop the annual UWM Central budget for UW Medicine which includes over $80M of activity for 15+ units with shared costs between SoM, Medical Centers, UWP, and UWM Affiliates. Requires coordination with organizations involved in the funding and working with UW Medicine leadership in resolving issues related to budget increases, allocations of costs and monthly billing, and year-end closing and reconciliation of budget vs. actual.

•Process includes budgeting operating costs as well as budgeting for revenue which includes state funds, gifts and endowments, clinical earnings, administrative indirect cost recovery, and facilities indirect cost recovery funds.

•Direct activities of the Financial Reporting and Budgeting team that provide support to Dean's Office and UWM Central Budget unit managers, departments, and institutes in the development of monthly budgets, reviewing monthly budget to actual operational reports prepare and explain quarterly forecasts vs. budget.

•Report to Senior Director on a regular basis, describing the state of the forecast compared to budget. Recommend and implement corrective budget actions if necessary.

•Provide analytical reports and forecasts that will be used by executives in decision making in SoM facilities and program development activities.

Financial Reporting / Analysis (25%):

•Oversee quarterly SoM Departmental financial management reports, including all funds sources and reserves financial report. Process includes providing guidance to Dean's Office financial analysts who work with department directors/vice chairs/administrators, perform quality review of final reports and executive summaries for 32 departments prior to release to UW Medicine leadership. Process is the key control on financial health of SoM departments and crucial to maintaining oversight of department's financial status and health.

•Prepares and completes monthly School of Medicine Close Call financial report, the results of which are presented to the UW Medicine CFO and UW Medicine Finance and Audit Committee. Work with Senior Director and SoM CFO on refining the report. Requires knowledge of all major activities with SoM and ability to research SoM wide variances or shifts in revenues, expenses, and reserve balances.

•FICR process requires the SoM each quarter identify grants in SoM operated facilities and to accumulate total Indirect Costs incurred for the quarter in those locations and to estimate FICR funds owed to SoM by Financial Planning and Budgeting (FPB) under agreement. Process includes working with SoM wide data from Invision and Workday to identify grants by location, direct and indirect costs incurred for each quarter and develop report on activity. Process requires working closely with SoM departments to ensure integrity of data and work thru validation process with FPB. FICR process provides over $40M annually to SoM in support of research facility costs. This is a key financial process for SoM and crucial to growth in research activities and support of existing activities.

Survey's / AdHoc Reporting (25%):
The LCME Part 1-A questionnaire is concentrated in the fall time period as the process runs from September thru December annually. Ad-hoc and other surveys are spread throughout the year. As follows is a summary of key activities:

•Develop processes and procedures, and train staff to perform account reconciliations, and financial reporting preparation and review activities including internal and external annual reports.

•Requires position to collaborate with high level management of affiliate institutions on data acquisition to support SOM reporting (VA / FHCC / SCH / UWP / CUMG).

•SoM participates in numerous AAMC data survey throughout the year which the position is responsible for coordinating timely response and maintenance of all surveys received for SoM.

Strategic Financial Planning / Other (10%):
The Director for the School's Financial Reporting Department is responsible for support in Strategic Financial Planning and other Ad-Hoc analyses and reporting related to the SoM. This can include, but is not limited to:

•Providing central direction and oversight for the development of various strategic financial plans for the academic departments and key Dean's Office departments.

•Preparation of business analyses, proposals and implementation plans for new programs, and the analyses of changes to existing programs.

•Support in preparation and coordination of presentations of strategic financial plans throughout the SoM and outside entities. There will not be precedent for these activities, and the Director must use a high degree of subjective judgment in making recommendations.

Supervisor Responsibilities (10%):
A Senior Financial Analyst will report to the Director position. The Director will be responsible for directing day to day responsibilities and prioritizing work. This position is also responsible for professional development plans (including evaluations) of the professional staff reporting directly the position.

MINIMUM REQUIREMENTS

• or degree in Accounting, Business Administration, or other related field.

•Five years demonstrated experience in business planning, financial analyses, and strategic planning.

Equivalent education/experience will substitute for all minimum qualifications except when there are legal requirements, such as a license/certification/registration.

Additional Requirements

•Computer proficiency with spreadsheets, word processing, and databases in a Windows environment.

•Ability to interpret and communicate to others complex policies and procedures.

•Proven leadership and strong communication skills.

•Demonstrated experience working in large, highly structured environments.

•Ability to work independently with a high degree of reliability, accuracy, and productivity.

•Ability to handle confidential information responsibly.

•Demonstrated ability to maintain harmonious working relationships and effectively address complex and sensitive administrative issues.

•Proven track record in exercising discretion and independent judgment effectively in decision-making processes.

•Demonstrated experience of successful handling of multiple projects with critical deadlines.

•Functional working knowledge of project management principles.

DESIRED QUALIFICATIONS

•Two years of experience in a major medical school or academic medical center, including experience in financial operations management.

•Specific knowledge of the University of Washington's financial accounting, purchasing and payroll systems.

---