MedStar Southern Maryland Hospital Center

AVP Financial Planning & Analysis

MedStar Southern Maryland Hospital Center • $227K — $307K *
Columbia, MD 21044In-Person
Finance & Insurance
5 - 7 years of experience
Reposted Yesterday
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Job Overview by Ladders

Qualifications

  • Bachelor's degree in Accounting or Finance required; Master's degree in Business Administration preferred.
  • Minimum of 7 years of leadership experience in financial planning reporting and analysis for multi-entity organizations.
  • At least 10 years of relevant experience including financial feasibility studies and capital management within the hospital industry.
  • Certified Public Accountant (CPA) upon hire preferred.
  • Strong analytics and financial planning skills, with advanced computer proficiency.

Responsibilities

  • Directs the development of an $8 billion annual long-range financial plan and budget for MedStar Health.
  • Prepares and reviews materials for Board of Director meetings regarding budgeting and forecasting processes.
  • Oversees monthly budget variance analysis, collaborating with local finance teams to understand performance trends.
  • Develops training documentation and conducts training sessions for stakeholders on finance processes and policies.
  • Administers finance review and approval aligned with contract administration processes.
  • Serves as the system owner of budget and forecasting tools, optimizing their use and evaluating emerging technologies.
  • Coordinates with finance teams to ensure alignment on financial objectives and initiatives.

Benefits

  • Comprehensive health insurance plan options.
  • Generous retirement savings plan with employer matching.
  • Paid time off and holiday leave.
  • Continuing education and professional development opportunities.
  • Flexible working schedule options.
Full Job Description
About the Job

General Summary of Position
This position is responsible for leading the system-wide development of short- and long-term financial forecasts and budgets and preparation of monthly variance analytics. The Assistant Vice President (AVP) of Financial Planning & Analysis will be responsible for directing the development of key management reporting and analytics to be utilized consistently across business units and consolidated results. Responsible for development of executive overview materials designed to facilitate review and approval of the system forecast and budget for executive management and the board of directors. The AVP Financial Planning & Analysis will implement standard processes and provide ad hoc financial analysis in support of ongoing financial and operational support to the organization.

Primary Duties and Responsibilities

  • Directs the development of the $10 billion annual long range financial plan and annual operating and capital budget for MedStar Health including establishing timelines and communication tools development of major assumptions development of baseline financial plans for local review and ensuring consistency in analytics and planning methodologies
  • This role is responsible for the preparation collaboration and review of various materials for Board of Director and Board committees throughout the year on topics including the budgeting and forecasting processes and financial performance compared to budget. Advises Executive Management concerning the financial and budgetary affairs of the organization both and assists Executive Management in the resolution of financial matters.
  • Oversees the budget variance analysis process at month-end including collaboration with local finance teams to analyze and interpret performance trends. Oversees the development and execution of recurring periodic management reporting and analysis
  • Responsible for preparation or process and training documentation and for the routine training of key stakeholders to ensure knowledge transfer of MedStar finance processes and policies.
  • Responsible for administration of the finance review and approval in alignment with the system contract administration process
  • Serves as system owner of budget and forecasting technology tools and reporting and is responsible for overseeing and collaborating with stakeholders to optimize the use of the system and evaluate emerging technologies with an eye toward continuous improvement.
  • Assists and coordinates with other members of system-wide and local finance teams to ensure alignment on financial objectives and initiatives
  • Develops and contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality standards and safety standards. Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.
  • Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings serves on committees and represents the department and hospital/facility in community outreach efforts as appropriate.
  • Manages direct reports including training orienting and assignment of department staff. Develops standards of performance evaluates performance and conducts performance management planning. Initiates or makes recommendations for personnel actions. Maintains ongoing communication with subordinates to review programs provide feedback discuss new developments and exchange information

Minimal Qualifications
Education
  • Bachelor's degree in Accounting or Finance required or
  • Master's degree in Business Administration preferred

Experience
  • Minimum of 7 years of related leadership experience in financial planning reporting and analysis for multi-entity organization. required
  • Minimum of 10 years of experience in other relevant experience includes financial feasibility studies capital management and hospital industry experience. required

Licenses and Certifications
  • Certified Public Accountant (CPA) Upon Hire preferred

Knowledge Skills and Abilities
  • Strong analytics and financial planning and excellent communication skills required.
  • Advanced computer skills including an understanding of large sets of data and how to drive data relationships to guide analytical outcomes.
  • Must have a continuous improvement mindset a desire to work collaboratively with stakeholders and a can do attitude.
  • Demonstrated experience in managing complex financial processes budgeting and forecasting.

This position has a hiring range of

USD $227,374.00 - USD $307,625.00 /Yr.

About MedStar Southern Maryland Hospital Center

MedStar Southern Maryland Hospital Center is a medical facility located in Clinton, Maryland. It is a 192-bed acute care hospital that provides a range of services including emergency care, cardiology, cancer care, orthopedics, and women's health. The hospital is part of the MedStar Health system, which is the largest healthcare provider in Maryland and the Washington, D.C. region. MedStar Southern Maryland Hospital Center is committed to providing high-quality, compassionate care to its patients and improving the health of the communities it serves.
Learn more about MedStar Southern Maryland Hospital Center
Size
1,200 employees
Industry
Healthcare
* Ladders Estimates

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