Position Purpose:The Senior Budget Analyst is responsible for creating, coordinating and optimizing the processes for annual planning, budgeting, forecasting, financial reporting, variance analysis, capital procurement, position control, and hospital productivity. This position requires handling of confidential information and a professional approach to work. Performs other related duties as assigned.
This position reports to the Director of Budget & Forecasting.
Key Job Activities:- Collaborates with stakeholders and timely create, presents and submits annual capital and operating budgets, strategic plans, yearly/quarterly/monthly forecasts, financial statements, ad hoc analysis and variance analysis reports.
- Helps establish short and long-range financial goals to deliver against operational plans.
- Provides accurate and timely monthly reporting packages including, but not limited to, divisional financial statements, flash reports, detailed P&Ls, general ledger analysis and cost center specific reporting.
- Monitors, analyzes, summarizes, reports and tracks division, cost center and portfolio level financial performance, risks and opportunities.
- Prepares and tracks cause of variance reporting with commentary against the plan, forecast, prior period budget and actuals, fiscal year-to-date, and rolling 12-month forecast.
- Presents financial analysis and KPI trend dashboards in monthly management review meetings.
- Develops and presents ad hoc analysis and findings.
- Month-end accrual submissions and journal entries to ensure financial statements, including the P&L are accurate.
- Monthly review of transactions to ensure expenses are charged to correct general ledger accounts, cost centers and departments.
- Assists with monthly, quarterly, and annual close activities, including the preparation of financial statements.
- Accurately compiles, tracks and reports the cost of service for various functions.
- Regularly monitors, tracks, and reports labor, employee and contract positions, and professional services budget, forecast and utilization on recurring operations and projects.
- Creates and presents business cases with TCO and ROI for approval. Gathers and compiles detailed cost estimates for various programs and projects showing Capex and Opex needs and multi-year TCO.
- Regularly monitors, tracks, analyzes and reports department, portfolio, program and project level budget, over/under-spend and cost performance, variance and forecast.
- Coordinates, reviews and negotiates NDA, MSA, contract terms, SOWs and obtains approvals.
- Solicits, reviews, compares and finalizes vendor proposals and contracts for new services and renewals.
- Performs contract review and spend analysis, identifies and executes cost reduction opportunities.
- Timely monitors, tracks, coordinates and completes renegotiations and renewals of various contracts.
- Monitors, tracks, analyzes, and presents vendor performance against contracted service levels for stakeholder review. Holds vendor management meetings.
- Timely creates and tracks Capital Requests and Purchase Requisitions.
- Identifies and sources vendors. Solicits, negotiates and compares vendor quotes, obtains approvals and creates Purchase Orders.
- Monitors and follows up with vendors on product/service delivery. Reconciles delivery receipts and invoices with Purchase Orders. Identifies and resolves billing issues and contractual inaccuracies. Processes invoices for payment.
- Creates, streamlines and optimizes financial governance processes including budgeting, forecasting, procurement and asset management workflows through standardization, automation, and innovation. Automates paper based accounting and procurement processes, workflows and approvals.
- Creates and operates Asset Management processes to closely track assets and inventory. Performs regular cycle counts.
- Develops, implements, and manages a centralized repository for tracking software licenses, subscriptions, and contracts approval, reminders and renewals.
- Serves as finance liaison and subject matter expert. Raises financial acumen of managers.
- Creates standardized project budget and cost estimation templates for managers.
- Ensures compliance with applicable regulations and restrictions.
- Tracks and manages professional memberships, subscriptions and training for the department.
- Prepares, submits and tracks expense reports for the department.
- Provides administrative support coverage for the Financial Analysis Services division, as needed.
- Performs other duties as assigned.
Education and Work Experience:- Bachelors in Accounting or Finance or Related Field, MBA preferred
- 5 + years of experience, 3 years in Healthcare Finance
- Demonstrated experience with financial analysis, preparing operating and capital budgets, forecasting, financial reporting, financial analysis, variance analysis, preparation of budget action plans and budgeting applications.
- Prior experience managing hospital productivity
- Prior position control experience
- Previous experience in a fast-paced, continually changing/growing environment
