How to Apply
A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.
Position Details: Financial Analyst – Clinical Financial Planning and Analysis
Michigan Medicine Finance is seeking a financial analyst to join the Clinical Financial Planning and Analysis team. The Clinical Financial Planning and Analysis group plays a key role in helping leadership make data-driven strategic decisions by analyzing variances and operating performance trends. The primary customers for this role include University of Michigan Health System (UMHS) financial leadership, Health System-wide leadership, as well as departments within UMHS.
Is This job Right for You? This job might be right for you if you…
- Want to serve as the primary financial analyst for one of the largest clinical business segments in UMHS
- Want to work in a collaborative environment and experience the value of being part of a strong team
- Are able to function independently, and require minimal day-to-day supervision to deliver projects in a timely and effective manner
- Enjoy working with data to identify opportunities for management to consider as well as find solutions to known issues
- Have a natural curiosity for investigation of financial variances and the ability to translate the analyses into actionable information for decision making at all levels within the organization
- Provide support to the Associate Chief Financial Officer (ACFO) of the University Hospital/Cardio Vascular Center business unit segment through the analysis of actual results and provide meaningful insight into variances from budget and forecast for review with senior management. Discuss findings with senior management to drive appropriate business actions and make recommendations for future revenue opportunities or cost savings.
- Ability to accurately work with complex data sets, synthesize and summarize financial findings effectively, allowing for the identification of key issues, decision-making criteria, and the determination of strategies and plans.
- Work with customers and other stakeholders to identify analytic needs, gather, define and document requirements, execute analysis, document and communicate findings back to customers and stakeholders.
- Demonstrate a subject-matter curiosity to obtain details from operational partners regarding proposed business decisions that can be translated into commonly accepted decision support frameworks such as return on investment analysis, net present value analysis, discounted cash flow models or other commonly accepted techniques.
- Design, develop and recommend new approaches, methodologies and tools for data-driven decision-making and planning.
- Participate in multidisciplinary teams evaluating strategic, operational and financial aspects of the clinical enterprise
- Perform business case analysis, including the creation of financial models and analysis of business trends to support growth opportunities
- Participate in special projects to improve reporting, analysis, and internal processes to achieve productivity improvements and customer service delivery
- Partner with Business Unit leadership to prepare their detailed annual budget
- Responsible for the preparation and distribution of non-standard management reports and operation analysis to ensure financial performance and operational decision-making alignment. Identification of reports and analysis that can be produced and distributed more broadly.
- Educate business unit management teams on P&L impact of business decisions.
- Prepare ad hoc analyses and other duties as assigned
- Bachelor’s degree in Business Administration with emphasis in finance, healthcare informatics, computer science, or information science
- Familiarity with query writing software, querying relational databases, applying business process/data modeling, database design, and other analytical tools/techniques surrounding business and financial analysis.
- Prior experience analyzing / understanding financial variances of actual vs. planned amounts
- Problem solving capabilities including root cause analysis, process comprehension, development of alternative solutions, and recommended course of action
- Strong communication skills – both oral and written. Ability to analyze large amounts of complex information to present simple and concise material to the appropriate audience
- Financial systems acumen, including considerable experience with MS Excel (Pivot tables, VLookups, etc), statistical packages, and PowerPoint as tools for advanced analytics and communication
- Ability to assess competing priorities, manage workflow and meet operational deadlines
- Demonstrated understanding of key performance indicators, return on investment, product line analysis and proposal development
- Strong presentation skills to interact with senior executive level personnel from the organization
Senior Level :
- 5-8 years of professional experience
Intermediate level :
- 2-5 years of professional experience
- PeopleSoft / Oracle / Hyperion experience
- Ability to translate analyses into actionable information for decision making at all levels within the Health System
- Over 5 years of experience in a healthcare, higher education and/or academic medical center setting desired.
This position may be underfilled at a lower classification depending on the qualifications of the selected candidate.
The mission of Michigan Medicine is to improve the health of patients, populations, and communities through excellence in education, patient care, community service, research, and technology development, and through leadership activities in Michigan, nationally, and internationally. With annual revenues of approximately $4.5 billion, Michigan Medicine ranks as one of the top academic health centers in the country, and is committed to providing exceptional patient care, facilitating groundbreaking research and developing the next generation of physicians and scientists. Michigan Medicine consists of the University of Michigan Hospitals, the University of Michigan Medical School and its Medical Group, Michigan Health Corporation, and affiliated health systems.
Michigan Medicine Finance serves as the central finance group for the organization and is comprised of five functional areas: Clinical Financial Planning & Analysis, Enterprise Financial Reporting, Reimbursement, Medical School Finance, and Financial Systems.
Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act.
Job openings are posted for a minimum of seven calendar days. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.
U-M EEO/AA Statement
The University of Michigan is an equal opportunity/affirmative action employer.