Senior Financial Analyst

Department

BSD OBG - Administration

About the Department

The Department of Obstetrics and Gynecology has 114 clinical providers, providing care at the main hospital in Hyde Park and seven off site locations. We have more than 60,000 outpatient visits, 25,000 ultrasound visits, 2,800 deliveries, and 3,000 gynecological surgeries per year. Teaching, research and the highest quality clinical care are top priorities for the Department. The residency and fellowship programs are highly ranked and have a history of training leaders in healthcare. The Department also has a significant research enterprise, engaging in population health studies, as well as research conducted in wet laboratories on tumor biology, fibroid research, and hypertensive diseases in pregnancy.

Job Summary

The job coordinates projects in monitoring the operating and capital budgets for divisions and/or University-wide administrative units. At the instruction of others, performs work that contributes to development of long, and, short term financial goals, business strategies/plans, and financial forecasts/models for major service programs and initiatives. Utilizes moderate knowledge of finance to help coordinate quarterly and year-end reporting for the operating budget.

Reporting to the Senior Director of Finance, the Senior Financial Analyst is responsible for accounting, budgets and financial controls, payroll, purchasing, risk management, and treasury for the Department of Obstetrics and Gynecology. This role will participate in development of financial strategy that impacts departmental functions such as clinical revenue, faculty compensation plans, grant awards, clinical research, and investments of capital.

The Senior Financial Analyst will oversee the financial management of operating and capital budgets for the department and clinics associated while developing long and short-term financial goals, business strategies/plans, and financial
forecasts/models for all major service programs and initiatives. Priorities of the role will include data integrity and reporting, completing financial transactions, development and monitoring of financial reports, along with participation in budgeting and forecasting.

Responsibilities

• Participates in the annual operating and clinical revenue budget processes, working in collaboration with Department Director of Finance along with BSD Finance and Budgeting.

• Under direction of Department Director of Finance, provides monthly accruals and budget variance, including variance summaries and explanations.

• As directed, oversees the production and maintenance of the monthly financial statements, reports, and clinical revenue trends.

• Liaison with Research Administration and Clinical Trials teams to reconcile research accounts, including grant accounts, effort reporting, and cost transfers.

• Responsible for gift and endowment accounts.

• High proficiency in financial modeling and analysis, budgeting, Microsoft Office – especially Excel, and business systems (Oracle, SAP/BW, Workday as examples).

• Under direction of Director of Finance, participates in the development, monitoring, and evaluation of a consolidated annual and intermediate (typically three to five year) budget plan and budget process for a unit, as well as actual performance against budget.

• Monitoring financial statements, effort activity reports, financial position forecasts, and/or reports required by department.

• Ensure accuracy and compliance of financial results by identifying and processing journal entries and payroll transfers, when necessary.

• Performs Accounts Payable and Accounts Receivable tasks to ensure timely and accurate payment of invoices and billing.

• Responsible for monitoring and approving expense reimbursements.

• Monitors financial statements by reviewing reports and accounting records to determine if allocated funds have been spent as specified.

• Reporting/analysis for the Department of Obstetrics and Gynecology, including report generation, analysis, projections, and verification of accuracy of financial information.

• Complete ad hoc reporting/analysis and miscellaneous other tasks as needed.

• Ad hoc reporting/financial analysis as needed by Sr. Director of Finance.

• Assist in perform closing tasks and prepare entries required for booking revenue/expense.

• Perform variance analysis on key revenue and expense lines and provide reasons/narrative on a monthly basis.

• Provides professional support as a primary account administrator for account owners in an intensive customer service environment.

• Analyzes and prepares budgets, creates accounts, and works with the financial accounting system to allocate, authorize, monitor, and control expenses.

• Prepares monthly reports, conducts and correct errors in accounts using existing procedures that are in place, and provides advice on the financial impact of human resources and academic affairs decisions.

• May work with other administrators on the procurement process, allocates expenditures for authorization, and advises in communications regarding funding agencies, subcontractors, and others at the instruction and direction of others.

• Performs other related work as needed.

Minimum Qualifications

Education:

Minimum requirements include a college or university degree in related field.

Work Experience:

Minimum requirements include knowledge and skills developed through 2-5 years of work experience in a related job discipline.

Certifications:

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Preferred Qualifications

Education:

• Bachelor’s degree in finance, accounting, business administration, or a related field of study.

Experience:

• Background in a university, school of medicine, or academic medical center.

• Prior experience monitoring and managing physician compensation plans.

• Prior experience creating annual budgets.

• Prior experience monitoring and managing monthly expenses.

• Experience working with grant/clinical trial contracts strongly preferred.

Preferred Competencies

• Expert knowledge of accounting principles.

• Healthcare finance background needed.

• Understanding of healthcare financials terms.

• Intermediate to expert level experience needed using Microsoft excel, Microsoft access, and pivot tables.

• Ability to develop proformas.

• Strong financial modeling and benchmarking skills.

• Knowledge of and skill in applying budgeting and financial policies and developing related internal and regulatory controls.

• Ability to present relevant details to decision makers and operational managers and establish a cadence in reporting.

• Ability to interact across the organization at all levels to insure a complete understanding of any significant financial or statistical reporting, such as budget variances.

• Ability to understand and proactively seek interdependences in processes, analyze and propose ways to improve.

• Demonstrated ability to think strategically and independently to develop and evaluate options translating findings into operational objectives.

• Knowledge of process improvement concepts.

• Knowledge of financial principles, practices, and applications including budgeting, financial planning, and financial reporting.

Working Conditions

• Office Environment.

• Work: On-site; potential for hybrid following completion of training and if in good standing.

Application Documents

• Resume (required)

• Cover Letter (required)

Job Family

Financial Management

Role Impact

Individual Contributor

Scheduled Weekly Hours

40

Drug Test Required

No

Health Screen Required

No

Motor Vehicle Record Inquiry Required

No

Pay Rate Type

Salary

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FLSA Status

Exempt

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Pay Range

$60,000.00 - $90,000.00

The included pay rate or range represents the University’s good faith estimate of the possible compensation offer for this role at the time of posting.

Benefits Eligible

Yes

The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook.

Posting Statement

The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the University's Notice of Nondiscrimination.

Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via Applicant Inquiry Form.

All offers of employment are contingent upon a background check that includes a review of conviction history.A conviction does not automatically preclude University employment.Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.

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