Financial Analyst (Corporate) - Baltimore MD

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Job ID: 60063
Area of Interest: Professionals
Location: Baltimore, MD US
Hours of Work: M-F; 8am-5pm
Job Facility: University of Maryland Medical System
Employment Type: Full Time
Shift: DAY
What You Will Do:

Financial Analyst (UMMS Corporate) - Baltimore MD

General Summary

Under general supervision, develops, analyzes, reports and interprets financial and statistical information to assist management in the formation, implementation and execution of the organization’s business plans.

Participates in providing analytical and technical support regarding, budgeting analysis, financial planning analysis, regulatory policies and procedures and/or volume and revenue analysis. Works collaboratively with departments and senior financial analysts to implement the recommendations.

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.

 Prepares reports, surveys and special projects. Prepares miscellaneous reports for requesting agencies in accordance with departmental procedures. Reviews transactions from various reports and prepare summary reports for reporting organizational activity for use by the appropriate UMMS department in accordance with departmental procedures.

Participates with the development and implementation of procedures in performing tasks required by internal management or outside regulatory agencies.

Represents the appropriate department staff on standing and ad hoc committee dealing with financial planning, reimbursement and budgeting issues in accordance with department procedures. Presents relevant financial data and serves as a financial resource to the departments, senior management and physician groups.

Keeps up-to-date with the developments/changes in the field and applicable regulations and procedures affecting hospital finance and regulatory practices.


Specialization in Financial Planning

Participates in the development of long-term financial forecasts that incorporate the changes in patient service activity, the reimbursement environment, payor mix, operating costs, capital financing structure and overall capital requirements.

Performs financial evaluations of new programs/ventures, including assessment of volume, reimbursement, payor mix, operating costs, working capital needs, capital requirements and the financial structure in accordance with departmental policies and procedures.

Analyzes case mix data, e.g. payor information, hospital charges, diagnoses, and medical/surgical procedures used and other applicable data, which is used to provide support for conclusions drawn regarding such programs, and also to maximize reimbursement opportunities as well as maintain regulatory compliance.

Prepares computer generated analyses in support of these programs/ventures for review and approval by senior management staff

Maintains the Medical System’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.

Specialization in Business Development Operations Support

Prepares and/or validates assumptions, calculations, schedules and other documentation in developing the organization’s annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures.

Participates in the analyses of financial and statistical reports to ascertain trends and to isolate deviations from established plans in accordance with GAAP and report such data to management.

Compiles financial and statistical reports of a specific nature in accordance with departmental procedures. This includes preparing monthly financial statements and other regular management reports, analyzing nominal accounts to determine the adequacy of presentations based upon accruals, calculation, estimates and general provisions.

Monitors and investigates transactions. Reviews and verifies transactions to confirm authorization, conformity with the capital or operating budget, compliance with expenditure management policy, and the adequacy of coding to support accounting systems and management reports in accordance with departmental procedures.

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.

What You Need to Be Successful:

Education and Experience

 Bachelor’s degree in Finance, Accounting or a related field or Bachelor’s degree and relevant experience is required.

 One year of progressively responsible financial planning, financial analysis, budgeting, reimbursement or accounting experience is preferred.

 Healthcare-related finance background is preferred.

Knowledge, Skills and Abilities

1. Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.

2. Demonstrated knowledge of spreadsheets (i.e. Microsoft Excel), word processing programs (i.e., Microsoft Word), graphic/specialty and other finance-related software programs.

3. Highly effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals including senior management staff.

4. 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.

5. Proficient organization and problem-solving skills are required to develop/implement efficient work processes. Ability to work effectively in a stressful work environment.

We are an Equal Opportunity/Affirmative Action employer.  All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. 
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