SR IT Financial Operations Analyst

Company Description
The University of Maryland Medical System (UMMS) serves more than one million patients and families every year. More than 29,000 employees and 4,600 providers work at UMMS. Each and every one of these individuals - from the patients we care for, the family members we reassure to our colleagues that we champion - represent the amazingly vibrant communities we serve. And we continue to seek out qualified candidates who reflect the values, backgrounds and stories of our neighbors and patients. We want to hear your voice, learn from your experiences, and be shaped by your insight as part of our workforce. After all, when we come together from different walks of life, we become stronger, better, and more empathetic.
Job Description
General Summary Under limited supervision, this position is responsible for maintaining financial operations for an assigned IS&T scope of coverage. Works collaboratively on invoice, PO processing, and escalations while ensuring that all contracts and payments for assigned operational and capital budgets occurs in a timely and efficient manner. Develops, analyzes, reports, and interprets financial and statistical information to assist management in the formation, implementation, and execution of the organization's business plans, including monthly reports and dashboards. Provides analytical and technical support which includes budgeting and financial planning analysis. Works with internal stakeholders to assess, analyze, manage, and break down their responsible financial data to reconcile any information necessary with vendors. Works collaboratively with department managers and senior management to implement recommendations, and assist with projections and IS&T financial management. Responsible for solving a variety of complex problems by critical thinking in adherence with the University of Maryland Medical System's (UMMS) policies and procedures. Acts as a primary financial liaison with various key IS&T departments and personnel.
Principal Responsibilities and Tasks The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all job duties performed by personnel so classified. * * Manages and oversees the financial operations of an assigned IS&T scope of coverage. * Ensures that hospital policies and procedures are interpreted and applied correctly. Provides input into accounts payable policies and procedures to improve operations. Ensures the timely and accurate payment of invoices for UMMS.
* Coordinates with vendor representatives, purchasing, and other internal departments to facilitate payment of invoices, for example, making departments and vendors aware of the need to have a valid purchase order before payment can be made on an invoice.
* Answers inquiries as needed, for example, corresponding with vendors and/or departments on delinquent invoices.
* Reviews purchasing contracts for consulting, applications, and hardware with internal stakeholders and external vendors to resolve discrepancies, errors, and budget variances. Reviews renewal dates; compares invoices against contracts to ensure vendors do not violate terms of the contract. Interprets contracts and serves as an escalation point for others in cases where contract interpretation is unclear.
* Ensures corporate and departmental procedures regarding the life-cycle payment process are being applied by all departments. Offers suggestions for procedure improvements, clarifies missing information, and ensures contracts are in place prior to reimbursements being made. * * * Tracks Operations Budget and Capital Planning Projects (over multiple years with different accounting systems and different life cycles) as they relate to the payment process in collaboration with Financial Analyst. * * * * Works cross functionally with internal and external stakeholders to ensure purchase orders are paid and invoices are paid.
* Analyzes cost center expenditure * * * Coordinates closely with other members of the IT Finance team to ensure various budget-related financial problems are resolved and procedures are followed. Reviews with IT Finance leadership, on a routine basis, the financial reports across all supported IT areas. Assists managers and analysts in understanding variances from budget and in documenting new issues that impact the current and future budget developmen * * * Communicates to IS&T Business Unit leadership and vendors regarding payment processing issues such as invoice price, quantity, item type or other discrepancies and clarifies, resolves or otherwise obtains appropriate information in accordance with departmental procedures. Works with IS&T Financial Analysts resolve invoice discrepancy issues and answers routine vendor requests or questions concerning payment.
* Communicates with various departments in order to resolve various budget-related financial problems and procedures. Reviews with cost center managers, on a routine basis, the financial reports for their areas. Assists manager/analyst in understanding variances from budget and assists in documenting new issues that impact the current and future budget development. Responsible for the written documentation for each department, such as the book of business upkeep process.
* Works with Finance leadership to develop training and guidance on the vendor contract life cycle process. Provide group and one-to-one training sessions to IT leaders, as needed * * Maintains the IS&T scope of coverage, which includes the business unit's strategic capital plan and determines how these capital issues will affect the long-range financial forecast. Produces regular updates of this document for internal use.
* Develops financial work plans and coordinates the successful completion of routine and ad hoc reports, analyses and projects.
* Identifies and proposes resolution of issues related to the financial process at UMMS.
* Works with senior leadership to develop long-term financial forecasts
* Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing IS&T's annual capital and operating budgets.
* Compiles financial and statistical reports of a specific nature in accordance with departmental procedures.
* Provides guidance to others as a department subject matter expert. Education and Experience * A Bachelor's degree in Finance, Accounting or a related field is required or an equivalent combination of education and experience is required.
* Five years progressively responsible professional financial planning, financial analysis, budgeting, reimbursement or accounting experience.
* Healthcare-related finance background is preferred.
* Advanced analysis expertise with PowerBI or other similar tools preferred. Knowledge, Skills and Abilities * * Proficiency with spreadsheet and database software.
* Demonstrated knowledge of general accounting principles.
* Proficiency in preparing and analyzing financial data and implementing changes to contain costs for budgetary purposes.
* Highly proficient mathematical skills are required, including calculating percentages, addition, subtraction, multiplication, division, using a calculator or related equipment as appropriate.
* Ability to operate a personal computer with working knowledge of the keyboard configuration. Ability to operate routine office equipment.
* Proficient organization and problem-solving skills and the ability to successfully resolve difficult, conflict-oriented situations.
* Ability to work effectively in a fast-paced work environment with competing priorities.
* Ability to handle confidential issues with integrity and discretion.
* Highly effective verbal and written communication skills, and the ability to work effectively with all levels of the organization.
* Expert knowledge of spreadsheets (i.e., Microsoft Excel vlookup, pivot tables, etc).
* Proficient in the use of databases (i.e., Microsoft Access), Word processing programs (i.e., Microsoft Word), graphic/specialty and other finance-related software programs.
* Ability to develop and evaluate complex financial data via use of computer analysis, requiring attention to detail and the ability to interpret and validate complex data.
* Excellent organization, problem-solving, and team leadership skills. Qualifications
Education and Experience * Master's degree or equivalent experience in business administration or related field from which comparable knowledge and abilities have been acquired.
* Seven years program and/or project management experience is required.
* Specialized certification is preferred (e.g. Change Management, Process Improvement, Project Management). Knowledge, Skills and Abilities * Demonstrated ability to manage large scale project and/or program teams. Ability to set up, plan, manage, report and communicate medium size projects and direct the completion of projects within proper scope, budget and schedule.
* Demonstrate ability to think strategically. Demonstrate sufficient understanding of some functions to structure and manage project work. Generate innovative and practical solutions to complex or unusual problems.
* Support client relationship management and oversees IT project execution and reporting. Possesses excellent customer service skills.
* Act as lead resource for dealing with project issues, ability to lead projects. Understands appropriate escalation process. Work with the team to make decisions considering the degree of impact on areas involved. Demonstrated ability to reach agreement and potential solutions through flexibility and compromise with peers, customer/client, and managers.
* Proficiency in the use of personal computers and related peripheral equipment is required. Familiarity with Microsoft Office products and Microsoft Project is preferred.
* Structure and manage projects to meet client expectations, deliver value and minimize potential obstacles and risks. Understand and manage stakeholder needs and build commitment to project solutions that deliver target business value.
* Highly effective verbal and written communication skills are necessary in order to work with all levels within the organization, and produce clear and concise reports of relatively complicated issues. Additional Information