The Finance Director for the Department of Medicine within the University of Minnesota Medical School provides leadership for the Department’s Finance and Accounting team. Collectively, this department is made up of 10 separate divisions which are managed as separate financial units. In total the department incurs ~$180 million in annual expenses, including $30M in sponsored grants and contracts. There are over 325 paid faculty, 40 community physicians, 190 graduate medical trainees, and 300 staff in the department.
Responsibilities: This position is responsible for directing and overseeing the finance and accounting functions supporting the Department of Medicine academic department and clinical service unit; leading a collaborative and productive work team based in respect, accountability and service; developing and/or coordinating complex financial forecasting, productivity analyses, business plans and compensation models; and providing strategic financial guidance for implementing identified goals and priorities. This position reports directly to the Medical School Chief Financial Officer and serves as a contributor to the department management team.
Supervision and management of five Financial Analysts, and one Accounting Manager with an accounting staff of eleven Accountants.
Responsible for the recruiting, hiring, training and professional development of staff.
Oversight of all financial transactions to ensure compliance with Federal, University, Medical School, and UMPhysicians’ regulations and policies.
Coordination of financial analysis and forecast of all funds for the Department of Medicine, including long-term strategic planning.
Development and management of departmental budgets, both University of Minnesota and UMPhysicians.
Oversees financial modeling for University faculty and UMPhysicians provider compensation, including annual planning, compensation modeling and pro forma for staffing needs, faculty and community physician retention offers, quarterly incentives, and other complex compensation analysis, while ensuring all compensation recommendations align to departmental compensation principles.
Present reports to the Department Chair, Vice-Chairs, Division Directors, and other faculty on all financial aspects of the department.
Development and implementation of procedures and processes for the department in conjunction with the Dean's Office, UMPhysicians senior staff, and the other Finance Directors.
Engage in the contracting process for both the University of Minnesota and UMPhysicians.
Co-leader of the Department of Medicine’s Finance Committee, and serves as a member of the Medicine Clinical Service Unit Board of Governors
Works with a variety of partners to address unique finance and accounting arrangements in order to establish formal memorandum of understanding to memorialize the arrangements; key partnerships include but are not limited to: Masonic Cancer Center, Minneapolis Veterans Association, Office of Academic Clinical Affairs, and others.
Provides leadership and represents the department on financial initiatives across the Medical School.
Required 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 keen analytic, organizational and problem solving skills to support and enable sound decision making. Excellent technical skills with high proficiency in the analytical application of relevant computer software packages (e.g. Excel, Access, RedCap, HRTS, and BI). Demonstrated ability and experience developing, supporting and implementing financial improvement initiatives.
Preferred Qualifications: Advanced degree or certification. Extensive knowledge and experience in the financial management of a Medical School and/or health care organization or physician group. Knowledge of managing and implementing physician compensation plans, and analyzing physician and Principal Investigator productivity. Experience in the financial management of research grants, philanthropic accounts, and clinical trials. Extensive experience in short-term and long-term financial business planning and contracting. Management experience requiring executive level interaction. Leading teams in a hybrid remote-work environment.
Internal Number: 341714
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.