Reporting to the Chief Financial Officer of the UMHS, the Associate Chief Financial Officer – UH/CVC (ACFO) is a member of the UH/CVC leadership team and the health system’s financial leadership team. The ACFO, partnering with the Executive Director UH/CVC (ED) and Chief Clinical Officer UH/CVC (CCO)and Chief Nusing Officer (CNO) has responsibility for all financial activities and communication of financial outcomes and measures for the UH/CVC, ensures financial integrity and establishes financial expectations. The ACFO will be a strategic financial adviser to the UH/CVC leadership team and to the UMHS Chief Financial Officer and will partner with the leadership team to execute the Hospitals’ operational and strategic initiatives.
The ACFO will work with central Finance, Revenue Cycle, Procurement, Human Resources, HIM and other functional areas to ensure analytic, operational and structural attributes are appropriately measured and reported. The ACFO will also work with these functions to resolve matters that are integral to the financial success of the UH/CVC.
- Interpret monthly financial results for the leadership team and identify opportunities to improve performance.
- Lead implementation of value and margin initiatives related to finance activities and as identified by the CFO.
- Establish processes by which strategic objectives and plans are developed and integrated into financial planning, and ensure that UMHS’s financial, capital, and operational resources are deployed with integrity and aligned with the strategic goals of the UMHS.
- In cooperation with the Controller’s office, responsible for total financial performance, financial reporting package oversight, managerial financial package oversight, forecasting/budgeting, financial planning and analysis, short term and long range performance, capital and other key financial specific processes.
- Ensure integrity of financial reporting system and develop management reporting tools that provide insightful analysis to enable leaders and managers to make effective business decisions. Play a central role in developing the business analytics in support for UMHS activities.
- Communicate key performance indicators and information to leadership and key constituents.
- Works in conjunction with the ED, CCO and CNO in:
- Planning of activity and staffing projections.
- Determining the need for and allocation of human, space, fiscal and material resources.
- Implementing and monitoring operating and capital budgets; and executing corrective action plans to resolve variances.
- Developing, implementing and evaluating value and margin improvement initiatives.
- Directly manage analysts’ time assigned to UH/CVC projects.
- Provide input to Controller’s Office regarding staff planning and resource needs.
- Directly manage, in partnership with department leadership, embedded finance staff.
- Lead recruitment of embedded finance staff to ensure consistency of skills acquired.
- Work with embedded finance staff to ensure consistency in delivery of financial services to their departments.
- Actively monitor and mentor embedded finance staff professional development.
- Work collaboratively with finance leadership for broader integration efforts across all UMHS finance professionals, including engagement, professional development and rotational opportunities
- Support ED, CCO and CNO in establishing, monitoring and implementing UMHS and UH/CVC goals and priorities.
- Define and report on financial goals for the UH/CVC.
- Define and develop implementation plans for goals that are off track.
- Establish margin improvement opportunities and work with clinical leadership to execute improvements.
- Actively participate in performance planning, competency and individual development.
- Attend competency training as defined together with UMHS CFO.
- Participate in mentoring programs for staff.
- Model UMHS’s institutional values. Build collaborative relationships and promote a culture of teamwork, service, and excellence.
- A Certified Public Accountant or master’s degree in finance, business administration, health administration, accounting, or related field or equivalent combination of education and experience.
Experience and Abilities:
- Progressive experience leading finance functions within a complex, growing health care organization. Individuals with experience in an academic medical center, higher education setting, major teaching hospital and multi-hospital system will be strongly valued.
- A track record of driving strategic resource planning and budgeting, operations and risk management, and developing decision support analytics and systems to support these activities.
- Demonstrate executive-level, strategic financial leadership to the senior leadership team at UH/CVC and UMHS. Think creatively, collaboratively, and strategically to develop and improve the financial health of the overall system while addressing the unique needs of the separate entities.
- A strong business orientation with the ability to "go beyond the numbers" in helping the senior executive team identify and develop opportunities to strengthen the financial performance, and continue to shape a top-tier institution for the future.
- A proven leader of people who is able to recruit, develop and mentor a top-notch financial team capable of supporting future growth.
- Ability to engage with colleagues and lead change using a collaborative, diplomatic style and strong communication skills.
- Ability to gather, validate and evaluate data and relevant metrics to develop proposals and recommendations.
- Experience developing effective communication processes and building relationships at all levels of the organization.
- Demonstrated ability to build a culture characterized by transparency, civility and customer service.
- Achieve trusted adviser status with the UMHS leadership team, university leadership and all key stakeholders. Be collegial and open; honest and straight-forward; and have the confidence to operate successfully in a faculty and clinician-driven culture.
- Comprehensive and broad understanding of current trends in the health care and higher education industries including knowledge of reimbursement, contracting and governmental actions.
University of Michigan Health System 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.
Michigan Medicine improves 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. Our mission is guided by our Strategic Principles and has three critical components; patient care, education and research that together enhance our contribution to society.
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.