This position serves as a financial and compensation analyst for the FOD Administrative Center supporting the departments of Family Medicine and Community Health, Ophthalmology and Visual Neurosciences, and Dermatology; and specific to this position supports the departments of Ophthalmology and Visual Neurosciences and Dermatology. This position is based out of Minneapolis, MN and is eligible for hybrid work-from-home and/or on-campus work dependent upon individual performance and organizational need. Because the University of Minnesota (UMN) is a land-grant institution that serves the state, residing in Minnesota is typically required.
Responsible for the oversight, implementation, and administration of the faculty and provider compensation plan including modeling, planning, and timely calculation of variable incentive payments.
Manages individual physician compensation files, which include tracking, updating, and reporting on clinical commitments, academic time, and potential leaves of absence.
Works to ensure Clinical and Academic incentives are accurately calculated and paid timely.
Works closely with the FOD Center administrative staff on documentation, recommendations, and implementation of compensation payments.
Acts as the point of contact to faculty and providers on their compensation; clarifying questions and thoroughly understanding and explaining calculations.
Works with the University of Minnesota Physicians (UMP) Business Intelligence team to develop internal resources (reporting dashboards) that will assist in overall business/clinical operation measurements.
Works with UMP Business Development teams to submit required documentation (financials and other) for OMT and Crescent hiring requests, as needed.
Prepare operational metrics and develop financial forecasting models and projections using PeopleSoft platform for UMN and WorkDay platform for UMP.
Prepare monthly, quarterly, and annual financial results for the department’s academic and clinical activities.
Manage the annual budgeting and forecasting process for both the Academic and Clinical domains.
Monitor UMF (University of Minnesota Foundation) funds to ensure appropriate funding of UMN accounts.
Work closely with UMN Grant Accounting staff to monitor and adjust for faculty/staff on sponsored funding.
Perform monthly variance analysis of actuals to budget.
Produce ad hoc reporting upon request.
Ensures compliance with UMN and UMP finance policies.
UMP Contracting liaison to support data and deliverables per contract terms.
QGenda time reporting liaison working with data input staff and developing reporting in support of cFTE calculations and reporting.
Other duties as assigned.
Requires a Bachelor’s degree in finance or accounting with at least 8 years of related financial experience.
Excellent analytical, operations, and communication skills.
Demonstrated collaboration skills applied across different legal organizations and operating structures.
Ability to balance creating and implementing strategies while maintaining operational excellence in core services.
Ability to thrive in an environment in which priorities may be shifting.
Excellent technical skills with high proficiency in analytical application of relevant computer software packages including Microsoft Office Suite (specifically Excel).
Master’s degree in Business Administration or Health Administration.
Experience dealing with multiple healthcare provider types, including hospitals, physicians, ancillary providers, and vendors.
Experience managing compensation and/or payroll.
Experience in short-term and long-term financial business planning and contracting.
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.