Working under the direction of the Assistant Administrator in the Institute of Genetic Medicine, the Financial Analyst will perform financial analysis to assist management in establishing financial goals and objectives. Perform complex financial analysis and planning to provide management with data and recommendations used to establish financial goals and objectives. Perform financial and planning activities in support of various functions, e.g. budgeting, auditing, financial planning, contract and/or grants. Extract financial data from various accounting and information systems to perform complex statistical, cost and financial analyses of financial reports and data, and prepare subsequent narrative analysis for management.
Duties and Responsibilities:
Assist in preparation of IGM's annual operating budget. With support from the assistant administrator, prepare the clinical annual operating budget, service center cost analysis budgets, and JHG annual operating budget. Assist with creation of annual capital budget.
Use Datamart/EPIC (via MS Access) to obtain patient, billing and cost data for use in financial and operational analysis. Monitor template utilization for IGM faculty and genetic counselors. Determine fiscal impact due to budget variances.
IGM Service Center financial compliance, budgeting, rate setting and adjusting, and expense monitoring.
JH Genomics financial support. Monitor central non-sponsored account allocations. Help set up and monitor appropriate billing pathways with the Department of Pathology. Help determine lab reimbursement opportunities.
IGM Clinic financial support. Help resolve billing and compliance concerns. Help monitor appropriate billing with the Department of Pediatrics.
Oversee moderately complex to complex budget accounts once awards have been granted or contract(s) signed. Provide oversight for the expenditure of funds, ensuring that funds are expended according to sponsoring organization's stipulations.
Provide interpretation of accounts, methods and records for management. Conduct studies of cost and financial results of business activities; recommend adjustments and other cost improvement measures. Review costs and perform cost benefit analysis for projects and/or programs.
Interpret data to evaluate and determine past financial performance and/or making financial projections for management who must make an overall business decision.
Produce financial reports for forecasting and results analysis. Provide reports, finding, and recommendation. Assist with preparation of special studies, reports, analysis, and recommendations.
Recommend budget and adjustments and other cost improvement measures. Use appropriate cost rates, such as indirect and benefit rates for proposed budgets.
Use financial systems, structures, and controls for a variety of processes that provide tracking, validation, billing, payment and debt reporting. Recommend quality control and process improvements with regard to overall business process.
Recommend rate/fee structures by analyzing various factors, i.e. current charges, expenditures, demands and competiveness for products and services, and economic environment.
Review and assist with analysis of capital expenditures proposals, profit plans, operating records and financial statements.
Develop and assist in developing business plans for revenue enhancement or new lines of business.
Perform analysis on budget performance for All Funds, investigate variances, provide justifications, and communicate to leaders as requested.
Monitor departmental non sponsored accounts. Monitor, identify, and communicate over expenditures to faculty and administrative staff. Make recommendations for resolving funding shortfalls.
Coordinate and monitor the creation of inter-entity agreement budgets and lease agreements for each fiscal year. Monitor billing compliance for leased staff.
Extract financial data from various accounting and information systems and perform financial and cost accounting analysis of data
Conduct variance analysis (and other designated accounts/programs, as specified) within the Department. Analyze variances through MedVitals, SAP or other applicable financial reporting system
Keep abreast of laws and regulations that impact up to date compliance.
Apply a working knowledge of applicable laws and regulations. Verify documents for completeness and compliance with government and private agencies. Review and analyze a variety of financial transactions including, general funds and federal and private grants and contracts, as well as gift and discretionary accounts.
Use various software applications such as spreadsheets, relational databases, statistical packages to assemble, manipulate and format data.
Other duties as assigned.