Financial Senior/Intermediate Manager

Michigan Medicine; Ann Arbor (MI); Hybrid; USD 120,000 - 180,000; Full time

Job summary

Michigan Medicine seeks a Financial Manager to join the Children's & Women's Hospital (CW) Finance team. The role oversees CW’s FP&A, budgeting, and strategic financial analysis for about $1.0B in annual revenue, partnering with the ACFO and senior leaders to advance institutional goals.

You will lead a small team of analysts, drive planning, and communicate financial results across the organization while promoting cross-department collaboration and data-driven decision making.

Qualifications

• Bachelor’s degree in Business, Economics, Finance, Health Administration or related field.
• 5+ years of healthcare finance or higher education experience.
• Strong leadership, communication and coaching skills.

Responsibilities

• Oversee FP&A and budgeting for CW segment with a team of analysts.
• Develop financial strategy in line with organizational goals.
• Lead recruitment, training and performance management of staff.
• Collaborate with central finance and clinical segments for value creation.
• Present financial performance at meetings and forums across the institution.

Skills

Leadership & team management

Financial analysis & forecasting

Executive communication

Healthcare finance knowledge

Education

Bachelor's in Business/Finance/Health Admin

Tools

Excel

PowerPoint

ERP/Financial systems

Job description

Mission Statement

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 Summary

Michigan Medicine is seeking a financial manager to join the Children's & Women's Hospital segment (CW) Finance team. This position will help manage CW's business ($1.0B annual revenue) and serve as a leader to financial analysts on the Children's & Women's Hospital Finance team. The primary responsibility will be the development and ongoing management of executive analysis and strategy in support of Michigan Medicine's strategic goals specifically related to Children's & Women's Hospital.

Reporting to the CW's Associate Chief Financial Officer (ACFO), candidates for this position are expected to exhibit strong leadership skills and function as a team player. The Finance team is a cohesive group of individuals who value one another and reach new heights by leveraging one another's strengths, and candidates must embrace and thrive on this culture. Candidates should also have a strong understanding of financial concepts and a thorough financial acumen. Experience in and understanding of Academic Medical Centers is desired.

As The Financial Manager, a Typical Day Will Include

• Engaging with members of the team and ensuring tasks are being completed, projects are on pace to meet deadlines, and team members? needs are being met
• Working closely with the ACFO to ensure projects are being completed and that the team's efforts are in alignment with the goals of the broader team and institution as a whole
• Reviewing the financial analysis, modeling, and planning completed by members of the team, and offering feedback on results, modifications, and areas of improvement
• Working closely with the ACFO to define short- and long-term plans for department structure, team development, and succession planning
• Presenting at various meetings and forums across the institution on the financial performance of CW and other finance-related topics as it relates to work being completed on the team
• Collaborating with other functional teams across the Children's & Women's Hospital operations, Michigan Medicine, and the University to complete cross-team work products and discover additional opportunities for synergies
• Developing and promoting innovative approaches to decision-making throughout all levels of the organization, with an ability to leverage financial data as needed and to ensure that high-value solutions are identified, planned, and executed
• Building collaborative relationships within Michigan Medicine Central Finance and promoting a culture of teamwork, service, and excellence

Is This Job Right for You?

This job might be right for you if you?

• Thrive in working in a fast-paced environment
• Maintain a high level of focus and energy
• Are adaptable to changing conditions
• Understand the value in creating and fostering a strong team
• Support every member of the team fully and put the team's needs first
• View yourself as skilled in identifying, analyzing, and interpreting trends or patterns in complex financial data sets
• Are stimulated by working in ambiguity and creating business solutions that are novel to the organization
• Enjoy presenting information to groups ranging in size and level of financial acumen
• Feel comfortable offering support and expressing ideas to leadership individuals

Responsibilities*

• Financial Planning and Analysis and Budgeting Oversight (FP&A): Oversee the development and monitoring of segment operating budgets, ensuring alignment with organizational goals and objectives. Manage a team of two or more analysts responsible for tasks such as financial forecasting, modeling, variance analysis, and strategic planning. Provide recommendations for corrective actions to optimize financial performance when faced with significant variances to the segment operating budget.
• Segment Financial Strategy Development: Contribute to the development of financial strategies for the segment, aligning with the organization's vision and long-term business objectives. Integrate insights from financial modeling and analysis conducted by the analyst team. This includes collaborating with financial and operational senior managers within the segment to assess the feasibility of strategic initiatives, business planning, and long-term financial opportunities.
• Team Leadership and Development: Lead a team of two or more analysts responsible for financial planning, analysis, budgeting, and modeling tasks, providing leadership, coaching, and mentoring to enhance their skills and performance. Manage employee recruitment, training, performance appraisal, and disciplinary actions as necessary.
• Relationship Management: Create shared value for the central finance department and other clinical segments through collaboration, knowledge sharing, and process alignment. This can be done by fostering partnerships with other central finance teams, sharing insights generated through segment-specific financial analysis, driving process improvement initiatives, and integrating financial planning activities with other teams. Promote communication, transparency, and teamwork to support efficient value creation.
• Financial Acumen: Must be involved in all aspects of finance: accounting, budgeting, financial analytics, reimbursement, revenue cycle, capital planning, costing, and forecasting.
• Length of Stay Optimization: Participate in a multidisciplinary workgroup that evaluates our capacity-constrained environment, evaluates for opportunities at local clinical department levels, and utilizes industry benchmarks to inform progress relative to leadership goals and targets.
• Innovation: Design, develop, and recommend new approaches, methodologies, and tools for data-driven decision-making and planning. Develop, interpret, and implement highly complex financial and accounting concepts, and advanced techniques for financial planning and control. Execute and oversee specialized technical analysis to determine present and future financial performance.

Required Qualifications*

• Bachelor's degree or ideally higher, preferably in Business, Economics, Finance, Health Administration, or a related field
• Over 5 years of professional experience in healthcare, finance, and/or higher education
• Problem-solving capabilities including root cause analysis, process comprehension, development of alternative solutions, and recommended course of action
• Ability to coach and mentor a team, including the ability to set clear performance goals and provide regular feedback to ensure team members are meeting their objectives
• Financial systems acumen, including considerable experience with Microsoft products (Excel, PowerPoint, Word, Outlook)
• Ability to assess competing priorities, manage workflow, and meet operational deadlines with minimal supervision

Demonstrated understanding of basic financial acumen. Including knowledge of financial statements and financial metrics

Modes of Work

Positions that are eligible for hybrid or mobile/remote work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment. Learn more about the work modes.

Underfill Statement

This position may be underfilled at a lower classification depending on the qualifications of the selected candidate.

Background Screening

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 Reporting Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.

Application Deadline

Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled any time after the minimum posting period has ended.

U-M EEO Statement

The University of Michigan is an Equal Opportunity Employer. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants, including protected veterans and individuals with disabilities.