The University of Iowa Health Care, Department of Pharmaceutical Care is seeking a 100% Senior Financial Analyst. This position has responsibility for performing complex, recurring and non-routine financial and cost accounting analysis of financial reports and data, ultimately preparing narrative analysis for leadership team. The primary responsibility of this position will be monitoring and reconciling accounts, general ledger entries, preparation of dashboards and reports for leadership team, and review of contracts and for advising the department with regards to financial planning. All duties are shared among the group of financial analysts ensuring that separation of duties is maintained at all times. Additionally, this position will need to assist with analysis of payments, payer mix, and other data as determined.
Position Responsibilities:
1. Financial Oversight and Budgeting
Monitors, analyzes, and reconciles monthly charges and account balances.
Develop monthly reports for monitoring and trending of pharmacy related data based upon specific areas and including revenue, expense and utilization.
Assist with development of forecasting reports related to all areas of pharmacy for budgeting purposes.
Gather data from outpatient pharmacy system for monthly entry into general ledger.
Obtain, facilitate and manage contracts internally and externally from UI Health Care.
Reconciles bank deposits.
Understands financial reports and can discuss variances with members of leadership team.
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.
2. Financial Reporting
Review data on a pre-defined basis for analysis and sharing with leadership team.
Prepares dashboards related to different areas (overall, area specific, specialty) of pharmacy practice.
Provide analytical support, including design, implementation, coordination, and data querying to support financial improvements.
Provide reports to Hospital Finance and Accounting Services annually or as needed, such as charity care, payer mix, etc.
3. Financial Analysis and Planning
Assist with the development of financial proformas for financial planning.
Reviews data on a drug specific basis as needed to determine profitability.
Through data analysis, identify opportunities for business improvements.
Create and maintain medication-related benchmarking data.
4. Leadership and Training
Development of project plans and workflows.
Provide training and understanding to other members of the team related to job duties.
Maintain a broad knowledge of systems to utilize to develop reporting resources.
Provide back up to team members as needed.
5. Universal Competencies
Grasps the inevitability and challenges of change and adapts tactics accordingly; utilizes learning opportunities to prepare for changing work and methods.
Demonstrates a willingness to carry out responsibilities and a positive approach to accomplishing work.
Demonstrates an understanding of how work aligns to organizational mission, vision, and University environment.
Ability to establish and build healthy working relationships and partnerships with colleagues within and external to own unit, those to whom services are provided, vendors, the public, regulatory/governmental agencies, etc., all of whom may be seen as "customers" or receivers of services provided by the University.
Manages customer expectations and takes responsibility to enhance service excellence.
Provides and accepts ideas and suggestions in a constructive and helpful manner.
Exhibits good teamwork: is approachable, cooperative, and contributes to an overall positive and productive work/team environment.
Works effectively with individuals from all backgrounds.
6. Technical Competencies
Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy.
Ability to analyze situations fully and accurately and reach productive decisions.
Knowledge and understanding of financial accounting systems specific to UI Health Care.
Basic understanding of accounting principles.
The position is eligible to participate in hybrid remote work arrangement two days onsite/three days remote upon training completion. Remote work must be performed at an off-site location within the State of Iowa. Training will be held ONSITE at the ACT Circle Pharmacy building in Iowa City, Iowa at a length determined by the supervisor. Work arrangements will be reviewed annually and must comply with the University of Iowa remote work program and related polices and employee travel policy when working at a remote location
Education Requirements:
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A Bachelor’s degree in business administration, accounting, finance, or related field, or an equivalent combination of education and experience is required.
Experience Requirements:
Minimum of 2 years’ experience working in accounting, budgeting or financial analysis.
Demonstrated proficiency in complex financial and statistical analysis and presentation.
Demonstrated ability to work collaboratively and communicate financial concepts clearly.
Evidence of strong organizational skills, accuracy, and attention to detail.
Demonstrated proficiency in computer software applications including Microsoft Excel, Access, Word, and Outlook.
Desired Qualifications:
Masters of Business Administration.
Familiarity with financial analysis tools.
Knowledge of EPIC, Power BI, or Tableau.
Excellent verbal and written communication skills.
Experience working in a large academic medical center.
Experience working with health insurance companies.
Experience working with medication and/or health care related data.
Working knowledge of university policies, procedures, and regulations.
Resume and Cover Letter are required to be considered for an interview, applicants must upload the document and mark them as a “Relevant File” to the submission:
Job openings are posted for a minimum of 7 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.
For additional questions, please contact Teresa Walker at [email protected].
Additional Information
- Classification Title: Senior Financial Analyst
- Appointment Type: Professional and Scientific
- Schedule: Full-time
Compensation
Contact Information
- Organization: Healthcare
- Contact Name: Teresa Walker
- Contact Email: [email protected]
