Senior financial analyst

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Exemption Status:

Exempt

Schedule Details:

Monday through Friday

Scheduled Hours:

8AM

Shift:

1 - Day Shift, 8 Hours (United States of America)

Hours:

40

Cost Center:

34000 - 1035 Anesthesiology Admin

This position may have a signing bonus available a member of the Recruitment Team will confirm eligibility during the interview process.

Everyone Is a Caregiver

At UMass Memorial Health, everyone is a caregiver – regardless of their title or responsibilities. Exceptional patient care, academic excellence and leading-edge research make UMass Memorial the premier health system of Central Massachusetts, and a place where we can help you build the career you deserve. We are more than 16,000 employees, working together as one health system in a relentless pursuit of healing for our patients, community and each other. And everyone, in their own unique way, plays an important part, every day.

I. Major Responsibilities:

1. Supports and works with customers, Managers, Vice Presidents and Administrators through a process of proactively understanding customer needs. Resolves inquiries and provides training in use and navigation of multiple financial systems and reports.
2. Develops a strong working knowledge of the forecasting/budgeting financial software and obtains efficient navigation capabilities. May assist with system quality assurance, testing and/or maintenance.
3. Performs ad hoc and routine variance analysis and/or audits. Works collaboratively to develop and implement corrective actions to meet financial targets.
4. Obtains data from the financial systems as needed. Designs, prepares and reviews various scheduled and ad hoc reports for presentation, distribution and/or ongoing financial data evaluation.
5. Performs other duties as required including, but not limited to, identification of forecasting assumptions, preparation of an annual operating plan, and reconciliations of data from multiple financial systems.
6. Participates in committees and work teams for various projects related to the budget process. May assist management in feasibility evaluation studies, market analysis and business plans.
7. Trains and mentors Financial Analysts.
8. May manage external contracts and revenues, which may include but is not limited to contract analysis, income review, funding, grant monies, cash collection, and invoicing.
9. May processes DEFAs and change forms and resolve discrepancies with the Medical Group and Medical School payroll departments. May coordinate services and additional compensation for moonlighting, sign-on bonuses, and medical school related reimbursements. May oversee departmental purchasing and payables documents.

II. Position Qualifications:

License/Certification/Education:

Required:
1. Bachelor’s Degree with a major or concentration in Health Care Administration, Math, Data Science, Economics, Finance, Accounting or related field.
Preferred:
1. MBA in Finance.

Experience/Skills:

Required:
1. Minimum of 2 years of directly relevant work experience in finance.
2. Must possess a fundamental understanding of financial management concepts and be able to assist in the development of financial plans.
3. Familiarity with accounting principles and financial statements.
4. Demonstrated experience utilizing Microsoft Office Suite programs (e.g. Excel, PowerPoint, Word, Access, Project) with expertise in modeling in Excel.
5. Exhibit excellent analytical and interpersonal skills and the ability to develop and present creative approaches and solutions to strategic business issues.
6. Strong organizational and communication skills, the ability to work with non-financial managers, and the ability to manage multiple projects.
Preferred:
1. Knowledge of discounted cash flows
2. Familiarity with hospital/healthcare delivery systems, financial forecasting and budgeting.
3. A comprehensive working knowledge of computer-based financial/forecasting/budgeting techniques strongly preferred.

Unless certification, licensure or registration is required, an equivalent combination of education and experience which provides proficiency in the areas of responsibility listed in this description may be substituted for the above requirements.

ADDENDUM FOR SENIOR FINANCIAL ANALYST PHARMACY 340B PROGRAM

Position Summary:

Same.

Additional Major Responsibilities:

1. Develops a thorough understanding of the 340B (federal drug discount program) regulations and guidelines for mixed-use pharmacies, prescription centers and contract pharmacies. This includes attending education sessions offered by Apexus 340B University, webinars and conferences.
2. Develops, tests, and performs 340B optimization reviews which helps improve revenue capture at our 150+ contract pharmacies. Identifies shortcomings with 340B Third Party Administrators (TPAs), and designs targeted reports and manual review processes for missed opportunity on high dollar prescriptions.
3. Builds and maintains 340B only NPI database to ensure the data loaded in all four 340B TPAs is accurate at all times to ensure compliance with 340B regulations.
4. Designs a WAC (Wholesale Acquisition Cost) dashboard that tracks purchasing patterns (340B, GPO and WAC accounts) and helps identify opportunities to reduce the drug spend for mixed-use pharmacies. Reviews the items with high opportunity, identify root cause and make recommendations to the various teams including buyers, 340B Coordinator, Pharmacy Operations Manager, IS Pharmacists, Willow Analyst, etc. to realize the savings.

Qualifications:

Same.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

We’re striving to make respect a part of everything we do at UMass Memorial Health – for our patients, our community and each other. Our six Standards of Respect are: Acknowledge, Listen, Communicate, Be Responsive, Be a Team Player and Be Kind. If you share these Standards of Respect, we hope you will join our team and help us make respect our standard for everyone, every day.

As an equal opportunity and affirmative action employer, UMass Memorial Health recognizes the power of a diverse community and encourages applications from individuals with varied experiences, perspectives and backgrounds. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, gender identity and expression, protected veteran status or other status protected by law.

If you are unable to submit an application because of incompatible assistive technology or a disability, please contact us at . We will make every effort to respond to your request for disability assistance as soon as possible.