JOB LOCATION Duke University Hospital- 2301 Erwin Rd, Durham, 27710, NC
JOB SUMMARY We are seeking a highly skilled and experienced Financial Analyst III with a specialized focus on clinical healthcare operations (Departmental DHIP), advanced analytical techniques, and leveraging technology to drive financial insights. The ideal candidate will possess a deep understanding of financial principles combined with advanced proficiency in data analysis, modeling, and technology tools, including in-house payroll and financial systems. This role will play a critical part in providing strategic financial guidance to management and supporting key initiatives within our clinical healthcare entity.
JOB DUTIES AND RESPONSIBILITIES - Financial Analysis and Reporting:
- Conduct in-depth financial analysis tailored to clinical healthcare operations to support strategic decision-making and optimize financial performance for Departmental DHIP needs, including revenue forecasting, expense management, variance analysis, and payroll cost analysis.
- Prepare comprehensive financial reports and presentations for management, highlighting key insights, trends, and recommendations specific to Departmental DHIP operations.
- Prepare consolidated financial statements from multiple departmental missions and entities, including presentation at a Service-Line level.
- Budgeting and Forecasting:
- Assist in the development and maintenance of Departmental budgets (including Divisional breakdown and sub-units) and forecasts for faculty payroll and clinical operations, collaborating with management and HR teams to ensure alignment with strategic objectives.
- Utilize advanced forecasting techniques and modeling tools to provide accurate and insightful financial projections.
- Data Management and Analysis for Healthcare Finance:
- Design and implement robust data management processes for financial- and payroll-related data, ensuring accuracy and integrity.
- Leverage advanced data analytics tools and techniques to extract actionable insights from datasets, supporting informed decision-making by clinical and administrative leadership.
- Optimize divisional productivity and cFTE reports need for DHIP analysis.
- Process Improvement and Oversight:
- Review departmental processes and procedures, with an eye on better documentation, oversight, and communication.
- Look for ways to proactively spot process gaps and work with the Manager of Finance to create policy and documentation.
- Become a knowledge resource for broader School of Medicine and Duke University policies to ensure compliance and risk management.
- Technology Integration:
- Identify opportunities to leverage technology solutions and automation to enhance payroll processes, improving efficiency, accuracy, and compliance.
- Stay abreast of emerging technologies and best practices in financial analytics, proactively seeking opportunities for innovation and improvement.
- Payroll Systems Management:
- Develop and optimize departmental payroll system within a clinical healthcare environment to meet new DHIP compensation structures, ensuring accuracy, efficiency, and compliance with regulatory requirements.
- Collaborate with HR and IT teams to implement system enhancements, upgrades, and integrations to streamline payroll workflow, including automated faculty pay statements, effort allocations, and annual compensation reports.
- Technology Integration:
- Identify opportunities to leverage technology solutions and automation to enhance payroll processes, improving efficiency, accuracy, and compliance.
- Stay abreast of emerging technologies and best practices in financial analytics, proactively seeking opportunities for innovation and improvement.
- Streamline financial data for departmental reporting on faculty productivity.
- Strategic Planning and Decision Support:
- Collaborate with cross-functional teams to provide financial guidance and support for strategic initiatives, investments, and business development opportunities.
- Conduct scenario analysis and sensitivity testing to evaluate the potential impact of payroll-related decisions on financial performance.
- Risk Management and Compliance:
- Assess financial and payroll-related risks and opportunities, developing strategies to mitigate risks while optimizing financial performance.
- Ensure compliance with regulatory requirements and internal policies related to financial management, payroll processing, and reporting.
JOB ELIGIBILITY REQUIREMENTS- Required: Bachelor's degree, preferably in Finance, Accounting, Healthcare Administration, or related field; MBA preferred.
- Required: Work requires 6 years of experience in performing a full range of tasks associated with business systems. Or an equivalent combination of relevant education and/or experience.
- Preferred: Proven experience as a financial analyst within the healthcare industry, with a focus on leveraging technology and data analytics to drive financial insights.
- Preferred: Experience with payroll systems administration and optimization, including knowledge of relevant regulations and compliance requirements.
- Preferred: CPA Certification
- Required: Advanced Excel abilities; SAP and Axiom experience; Strategic mindset
JOB HOURS The schedule for this position is day shifts, Monday-Friday, with no weekends or holidays.
