Financial Analyst - Urology

University of Iowa; Iowa City (IA); Hybrid; USD 55,000 - 70,000; Full time

Job summary

The University of Iowa is seeking a Financial Analyst for its Department of Urology to provide essential financial oversight and budgeting. This position requires collaboration with various teams for data analysis, cost management, and the preparation of financial reports, facilitating informed decision-making within the department. Ideal candidates will possess strong analytical skills, a Bachelor's degree in a relevant field, and experience in financial roles, making significant contributions to departmental success.

Qualifications

• 1 to 3 years accounting and/or financial experience.
• Experience gathering information from multiple data sources.
• High level of collaboration and attention to detail.

Responsibilities

• Monitor and reconcile account expenditures.
• Develops forecasting reports for budgeting.
• Assist with financial proformas for planning.

Skills

Analytical Skills

Communication Skills

Problem Solving

Education

Bachelor’s degree in Business Administration, Finance, or Accounting

Tools

Microsoft Excel

PowerBI

Job description

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Join to apply for the Financial Analyst - Urology role at University of Iowa

The University of Iowa Health Care Department of Urology is ready to welcome a collaborative and motivated Financial Analyst to provide accounting, financial, and productivity analysis, leadership and support. The primary responsibility of this position will be to assist with budget preparation, financial compliance monitoring and documentation, cost accounting analysis of financial reports and data, monitoring and reconciling accounts, general ledger entries, preparation of dashboards and reports for leadership team. Additionally, this position will need to assist with analysis of payments, payer mix, and other data as determined.

Financial Oversight And Budgeting

• Monitor and reconcile account expenditures, irregularities, answer inquiries regarding usage and status of accounts; advise in usage and status of account; provide recommendations and implement corrective action.
• Develops forecasting reports for monitoring and trending of data related to all areas of urology for budgeting purposes.
• Review totals, prepare monthly & yearly reports, accruals, salary & fringe predictions for quarterly and yearly budgets. Monthly monitoring and validation of general ledger and all entries.
• Reconciles bank deposits.
• Understands risk points and works to minimize.
• Develop overall understanding of accounting structure and ensure reimbursement is being received appropriately.
• Research and follow up with payers as appropriate/needed when remits or reimbursements are not as expected.
• Work with financial team to balance accounts, set up accruals, close out accounts, review malpractice reports, work on departmental budgets, forecasts and analyze data as requested.
• Review and analyze Funds Flow monthly and prepare entries to have funds deployed to proper MFKs.
• CCOM commitments & purchased services evaluated and tracked.
• Assist with analysis of payments, payer mix, and other data as determined.
• May contribute to implementation of policies and procedures. May perform external reporting requiring compliance with reporting standards.
  
  
  

Financial Reporting

• Review data on a pre-defined basis for analysis and sharing with leadership team.
• Complete routine recurring account reconciliations.
• Answer questions; obtain and input information; ensure information is current and accurate; prepare reports.
• Prepares dashboards related to different areas (overall, area specific, specialty) of urology practice.
• Provide analytical support, including design, implementation, coordination, and data querying to support financial improvements.
• Prepare financial forecasts for Administrator as requested, for numerous reports from expenses, salaries, VA commitments, monthly departmental snapshots and comparison to prior years.
  
  
  

Financial Analysis And Planning

• Assist with the development of financial proformas for financial planning.
• Through data analysis, identify opportunities for business improvements.
• Liaise with the University of Iowa Foundation and review spending and money transfers as needed.
• Point person for Department of Urology and between University and outside entities.
• Set up bill areas for new providers, entering effort into METS and generating reports & reviewing each provider.
• Analyzing areas that can be streamlined and implementing efficiencies.
  
  
  

Transaction Processing

• Correcting accounts with JE and or WebCV, payCV and requesting corrections from other depts as needed.
• Process transactions/payments as appropriate in ePro system.
• Answer questions & resolve account discrepancies with budgeting, salaries, new hires, MFKs, remaining balances & assets in clinic.

• Prepare documentation; submit routing forms and obtain contract approvals as required; monitor and follow up as appropriate.

• Approval officer for the departmental transactions in workflow.
  
  
  

Leadership And Training

• May provide training and functional and/or administrative supervision for staff.
• Assist with MFK, travel, purchasing questions and troubleshooting where needed.
• Development of project plans and workflows.
  
  
  

Required Qualifications

• Bachelor’s degree in Business Administration, Finance and Accounting, or related field or an equivalent combination of education and experience.
• 1 to 3 years accounting and/or financial experience.
• Excellent written, verbal and interpersonal communication skills.
• Experience gathering information from multiple data sources understanding the context and demonstrating detailed analytical skills with the ability to turn raw data into actionable information
• Demonstrated proficiency in computer software applications, including Microsoft Word, Excel and various databases.
• Demonstrated problem-solving skills requiring a high level of collaboration, attention to detail, accuracy, and independent judgement.
  
  
  

Desirable Qualifications

• Experience with account reconciliation.
• Experience working in a large academic medical center.
• Knowledge of University of Iowa business/accounting policies, procedures and regulations.
• Knowledge of University of Iowa budgeting and accounting tools including: Peoplesoft, StrataJazz, GL Reporter, PowerBI, and Electronic Financial Reports (EFR)
  
  
  

Application Process

In order to be considered for an interview, applicants must upload the following documents and mark them as a “Relevant File” to the submission:

• Resume
• Cover Letter
  
  
  

Job openings are posted for a minimum of 14 calendar days and may be removed from posting and filled any time after the original posting period has ended.

Successful candidates will be required to self-disclose any conviction history and will be subject to a criminal background check and credential/education verification.

Up to 5 professional references will be requested at a later step in the recruitment process.

This position is eligible for a combination of on-campus (UIHC) and remote work. Remote work must be performed at an offsite location within the state of Iowa. Per policy, work arrangements will be reviewed annually, and must comply with the remote work program and related policies and employee travel policy when working at a remote location. Work arrangement options will be discussed during the hiring process.

This position is not eligible for University sponsorship for employment authorization.

For additional questions, please contact Sandy Moenk at [e-mail] or 319-356-0748.

Additional Information

• Classification Title: Financial Analyst
• Appointment Type: Professional and Scientific
• Schedule: Full-time
• Work Modality Options: Hybrid within Iowa
  
  
  

Compensation

• Pay Level: 3B
  
  
  

Contact Information

• Organization: Healthcare
• Contact Name: Sandy Moenk
• Contact Email: [e-mail]

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Higher Education

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