Financial Analyst

Description:

The Department of Medicine is the largest department in the School of Medicine (SOM) with over 4,500 staff, faculty, trainees and students and an annual budget of approximately $520M consisting of patient care revenue, sponsored research funds, endowments and gifts, state funds and affiliated hospital funding associated with the academic programs within the department. The department is made up of twelve subspecialty divisions: Allergy and Infectious Diseases; Cardiology; Dermatology; Gastroenterology; General Internal Medicine; Gerontology & Geriatric Medicine; Hematology & Oncology; Medical Genetics; Metabolism, Endocrinology and Nutrition; Nephrology; Pulmonary, Critical Care and Sleep Medicine; and Rheumatology. These divisions occupy space at multiple sites including University of Washington Medical Center (UWMC), Harborview Medical Center (HMC), Veterans Administration Puget Sound Health Care System (VAPSHCS), Puget Sound Blood Center (PSBC), Fred Hutchinson Cancer Center (FHCC), Seattle Cancer Care Alliance (SCCA), and other locations in the Seattle area.

Under the general direction of the Administrator of Financial Operations, the Financial Analyst provides financial tracking, analysis, budgeting and reporting to School, Department and Division Leadership.

This position directly impacts the financial health and stability of the department through timely reporting of financial information to leadership. This position requires to have a good understanding of the new Workday Finance system. Able to run reports and performs financial analysis as well as provides input to enhance the reporting structures.

The UW Department of Medicine is ranked as a leader nationally and internationally in clinical care, research and education and is the largest Department representing approximately 1/3 of the School of Medicine in terms of employees and annual revenue. The Financial Analyst plays an important role within the department, school and the university at ensuring accurate and timely reporting to stakeholders are provided and to assist with decision making for short-term and long-term goals.

DUTIES & RESPONSIBLITIES
Financial Data Analysis, Reporting & Management (50%)
Provides financial planning, support, analysis and decision support to the Department. The Financial Analyst timely compiles, interprets, and communicates various monthly, quarterly, and annual financial reports distributed to DOM leadership and other stakeholders to support financial planning and strategic planning, this includes closely reporting on departmental and divisional reserve balances.
Manage and report all financial allocations of state, RCR, WWAMI, residency and fellowship program funding, and technology fees for the department.
Oversee the central admin units financial reports and analysis
Manage the financial reporting of gift and endowment revenues and expenses.
Collaborate in the development of annual budget and operating plan.
Manage the annual budget input data for all central units/divisions within DOM.
Update and maintain budgeting tools and extract data from systems to provide a basis for budget decisions.
In partnership, provide support with budget planning forecasts in the annual budget process.
Analyze and help control for budget variances to ensure prudent fiscal management.

Educational Programs Finance Support (15%)
Provide guidance, expert knowledge, and liaise as the primary financial contact for the department educational programs, including Medicine Student Programs, Seattle Based Internal Medicine Residency and Boise based Internal Medicine Residency, Naivasha Kenya based inter-disciplinary training rotations.
Provide guidance, expert knowledge, and liaise as the primary finance contact for the School and training programs for GME Finance and Collective Bargaining Agreement transactions and reporting.

Commitments Tracking & Reporting (15%)
Process, track and report all departmental commitments and space and renovations projects.
Manage and track commitment payments from the School of Medicine, UW Provost Office, and other entities as appropriate.
Administer and maintain the Department's Commitments Database.
Designing and implementing the change of Commitment database after UWFT.

Project management & Process Improvement (15%)
Partner and support operational changes in the transition to UW Finance Transformation.
Participate in financial process improvement projects impacting Finance & Operations within DOM.
Analyze findings, identify improvement areas, and pursue more efficient methods and processes.
Develop communication and online forms for new processes.
Actively contribute to process improvement in discovery of best practices in the newly created functions in the shared environment.
Provide data analytics related to frequency, utilization, to help steward the department’s financial resources.

Special Projects and Other duties (5%)
Perform backup duties to other fiscal position in the department
Provide leadership and project management support related to important initiatives in the department
Other duties as requested on an ad hoc basis