Finance Director

University of Minnesota; Minneapolis (MN); Hybrid; USD 170,000 - 175,000; Full time

Benefits offered by this job

Competitive wages

Paid holidays

Generous time off

Tuition assistance

Job summary

The Finance Director for the Department of Medicine at the University of Minnesota Medical School provides strategic and operational leadership for finance and accounting of clinical and academic activities. The department generates about $180 million in annual revenue with 30M in sponsored grants and contracts.

Leading a team across 11 divisions, you will drive financial forecasting, budgeting, and strategic guidance while partnering with leadership to advance priorities and compliance across

Qualifications

• BA/BS degree with ten or more years of experience in a comparably large and complex healthcare or academic organization, including management or supervisory experience.
• Excellent leadership skills with the ability to foster a professional and positive working environment.
• Excellent communication and interpersonal skills with the ability to prioritize, negotiate, and work with a variety of internal/external stakeholders in a highly collaborative manner.
• Demonstrated ability and experience in leading and implementing process improvement.
• Ability to translate financial concepts to and effectively collaborate with programmatic colleagues who may not have financial backgrounds.
• A successful track record in setting priorities and demonstrating analytic, organizational and problem solving skills to support and enable sound decision making.
• Excellent technical skills with high proficiency in Excel, Access, and BI.
• Demonstrated ability and experience developing, supporting and implementing financial improvement initiatives.

Responsibilities

• Direct and oversee the finance and accounting functions supporting the Department of Medicine’s academic and clinical units.
• Lead a collaborative work team based in respect, accountability and service.
• Develop and coordinate financial forecasting, productivity analyses and business plans.

Skills

Leadership

Stakeholder management

Financial forecasting

Financial analysis

Process improvement

Communication

Education

BA/BS degree

Advanced degree or certification

Tools

Excel

Access

BI

Job description

About the Job

The Finance Director for the Department of Medicine within the University of Minnesota Medical School provides strategic andoperational leadership for the department’s finance and accountingof clinical and academic activities. Collectively, this departmentis comprised of 11 separate divisions which are managed as separatefinancial units. The department generates ~$180 million in annualrevenue, including $30M in sponsored grants and contracts. Thereare over 350 paid faculty, 540 community physicians, 190 graduatemedical trainees, and 300 staff in the department.

Duties/Responsibilities

This position is responsible for directing and overseeing thefinance and accounting functions supporting the Department of Medicine academic department and clinical service unit; leading acollaborative and productive work team based in respect,accountability and service; developing and/or coordinating complexfinancial forecasting, productivity analyses, business plans andcompensation models; and providing strategic financial guidance forimplementing identified goals and priorities. This position reportsdirectly to the Medical School Director of Finance and Accountingand is a key partner to the Department Chair and Department ofMedicine Leadership team.

40%: Finance and Accounting

• Coordination of financial analysis and forecast of all fundsfor the Department of Medicine, including long-term strategicplanning. Oversee the development and accuracy of financialproformas used for faculty recruiting, retention andassessment.
• Development and management of departmental budgets, bothUniversity of Minnesota and UMPhysicians. Identify risks andopportunities. Prepare special analysis and advocate for specialfunding as appropriate.
• Engage in the contracting process for both the University ofMinnesota and UMPhysicians. Provide expertise in professionalservice agreements. Advocate for fair and appropriate payment ofservices.
• Provide oversight of all financial transactions to ensurecompliance with Federal, University, Medical School, andUMPhysicians’ regulations and policies.
• Works with a variety of partners to address unique financialand accounting arrangements in order to establish formalmemorandums of understanding; key partnerships include but are notlimited to: Masonic Cancer Center, Minneapolis VeteransAssociation, Office of Academic Clinical Affairs, and others.
• Partner with Department of Medicine Compensation Manager toalign division and subspeciality compensation plans and incentiveswith financials.

40%: Strategic Leadership

• Act as a key financial advisor to the Department Chair, 11Division Directors and 5 Vice Chairs. Provide timely financialinformation and recommendations to support decision-making andspecial initiatives. Proactively identify, assess and communicatepotential financial challenges and opportunities.
• Present financial information to several key stakeholders, suchas the CSU Board of Governors, Clinical Operations Committee andDepartment Leadership Council.
• Co-leader of the Department of Medicine’s Finance Committee,and serves as a member of the Medicine Clinical Service Unit Boardof Governors
• Provide leadership and represent the department on financialinitiatives across the Medical School and UMPhysicians.
• Develop and implement procedures and processes for thedepartment in conjunction with the Dean's Office, UMPhysicianssenior staff, and the other Finance Directors
• Identify and implement financial and accounting processimprovements when identified

20%: Supervision

• Manage the Department of Medicine Finance and Accounting teamcomprising of XX FTE. Direct supervision of five (5) team leaders.Responsible for overseeing the recruiting, hiring, training andprofessional development of staff.

Qualifications

Required Qualifications

• BA/BS degree with ten or more years of experience in acomparably large and complex healthcare or academic organization,including management or supervisory experience.
• Excellent leadership skills with the ability to foster aprofessional and positive working environment.
• Excellent communication and interpersonal skills with theability to prioritize, negotiate, and work with a variety ofinternal/external stakeholders in a highly collaborativemanner.
• Demonstrated ability and experience in leading and implementingprocess improvement.
• Ability to translate financial concepts to and effectivelycollaborate with programmatic colleagues who may not have financialbackgrounds.
• A successful track record in setting priorities anddemonstrating keen analytic, organizational and problem solvingskills to support and enable sound decision making.
• Excellent technical skills with high proficiency in theanalytical application of relevant computer software packages (e.g.Excel, Access, and BI).
• Demonstrated ability and experience developing, supporting andimplementing financial improvement initiatives.

Preferred Qualifications

• Advanced degree or certification.
• Extensive knowledge and experience in the financial managementof a Medical School and/or health care organization or physiciangroup.
• Knowledge of managing and implementing physician compensationplans, and analyzing physician and Principal Investigatorproductivity.
• Experience in the financial management of research grants,philanthropic accounts, and clinical trials.
• Extensive experience in short-term and long-term financialbusiness planning and contracting.
• Management experience requiring executive levelinteraction.
• Leading teams in a hybrid remote-work environment.

About the Department

Committed to innovation and diversity, the Medical School educatesphysicians, scientists, and health professionals; generatesknowledge and treatments; and cares for patients and communitieswith compassion and respect. We value excellence, inclusiveness,collaboration, and discovery.

The mission of the regional campus located in Duluth is to be anational leader in improving healthcare access and outcomes inrural Minnesota and American Indian/Alaska Native (AI/AN)communities. In partnership with CentraCare, the regional campus inSt. Cloud offers a wide range of patient experiences throughoutstudents’ education in Greater Minnesota and prepares them tobecome exceptional clinicians and leaders for rural and immigrantpopulations.

Founded in 1888, the University of Minnesota Medical School hasthree campuses. A four-year MD program and the MD/PhD program arelocated on the Twin Cities campus in addition to MD programs atregional campuses in Duluth and St. Cloud.

Pay and Benefits

Pay Range: $170,000 - $175,000; d epending oneducation/qualifications/experience

Time Appointment: 100% A ppointment

Work Location: Hybrid

Position Type: Faculty and P&A Staff

Please visit the Office of Human Resources website for moreinformation regarding benefit eligibility.

• Competitive wages, paid holidays, and generous time off
• Continuous learning opportunities through professional trainingand degree-seeking programs supported by the Regents Tuition BenefitProgram
• Low-cost medical, dental, and pharmacy plans
• Healthcare and dependent care flexible spending accounts
• University HSA contributions
• Disability and employer-paid life insurance
• Employee wellbeing program
• Excellent retirement plans with employer contribution
• Public Service Loan Forgiveness (PSLF) opportunity
• Financial counseling services
• Employee Assistance Program with eight sessions of counselingat no cost
• Employee TransitPass with free or reduced rates in the Twin Cities metroarea

While our salary ranges provide a framework, it is important tonote that most of the time, the initial pay may not reach the maximum of the range.

Thisapproach ensures that compensation reflects the value and unique contributions ofeach candidate while maintaining equity within our organization. As part of ourcommitment to fair and equitable compensation, please be aware that the salary offered toincoming candidates will be based on their individual credentials and experience.

Diversity

The University recognizes and values the importance of diversityand inclusion in enriching the employment experience of itsemployees and in supporting the academic mission. The University iscommitted to attracting and retaining employees with varyingidentities and backgrounds.

The University of Minnesota provides equal access to andopportunity in its programs, facilities, and employment withoutregard to race, color, creed, religion, national origin, gender,age, marital status, disability, public assistance status, veteranstatus, sexual orientation, gender identity, or gender expression.

To learn more about diversity at the U: http://diversity.umn.edu

Employment Requirements

Any offer of employment is contingent upon the successfulcompletion of a background check. Our presumption is thatprospective employees are eligible to work here. Criminalconvictions do not automatically disqualify