Job Description

The Finance Administrator consults, advises, leads and assists VCU/VCUHS in providing leadership and direction by performing a combination of the following: financial reporting and management, research management, budget development and monitoring, variance analysis, operations, human resources management, business development and all components of the Department’s mission. Provides staff supervision while promoting a diverse, equitable and inclusive culture. Ensures compliance with VCU and VCUHS policies and procedures.

The Finance Administrator works closely and in collaboration with different Divisions, Departments, physicians, advanced practice providers, staff, and VCU / VCUHS management and administrative personnel to resolve problems, workflow issues, customer service issues, business plan development, human resource issues and to implement new initiatives, policies, programs, etc.

The Finance Administrator maintains current knowledge of all state and federal laws and regulations and University and Health System policies and procedures. The position ensures that clinical operations are properly budgeted, funding sources secured / managed, sound and efficient, educational programs meet regulating body requirements, and all grants and contract awards are implemented. Reporting requirements are conducted in accordance with established University and sponsoring agencies requirements.

Reporting to the Department Administrator, the Finance Administrator provides administrative and technical support and leadership to a single Department or multiple Divisions under the auspices of the Department Administrator and/or Division Chair.

The Finance Administrator works closely with division chiefs, division administrators, hospital administration, ambulatory administration/operations and other leaders in the health system, School of Medicine and various other stakeholders (i.e. Medical College of Virginia Foundation (MCVF) Children’s Hospital Foundation (CHF)) in the development of business plans to direct the tri-partite mission of Departments involving clinical operations, research and educational strategy development.

Essential Job Functions Include But Are Not Limited To:

• Comprehensive management and leadership of fiscal and administrative efforts.
• Develop revenue and expense budgets, including grants, expenses, assets, liabilities and contracts.
• Budget development and implementation.
• Oversight of financial operations: revenues, expenses service agreements, grants, and training activities.
• Review, monitor, and analyze Department’s financial and operational performance.
• Process improvement and development.
• Negotiate contracts including developing FMV.
• Oversee and manage department compensation plan.
• Manage reimbursements from philanthropic foundations (MCVF/CHF).
• Building program/service line business plans.
• Human resources management.
• Manage regulatory compliance.
• Work within University guidelines and policies to manage and administer research grants and government contracts.
• Operationalizing institution’s compensation plan for physician workforce.
• Development of financial models, operational dashboards and ad hoc reporting requests.

Financial Management:

Maintains financial controls for all sources of funds to ensure solvency and compliance with University, Health System and various foundations policies as well as accounting regulations dictated by state and federal law. Oversees all financial aspects of the department (s) to include travel, accounts receivable, internal/external contracts and purchasing.

Clinical Operations:

Works with division chiefs and ambulatory leadership to optimize the physician and advanced practice provider practice, including both outpatient and inpatient.

Human Resources Management:

Manages, supervises, and directs assigned administrative and support staff to include determining staffing needs, recruitment, hiring, work assignments, completing and providing input on performance evaluations, disciplinary/corrective action and employee training and development. Collaborates with VCUHS Human Resources and the HR Business Advisory team to assist in the design, develop, and implement equitable and inclusive strategic and operational human resource management practices for the division /department.

Participates in faculty and advance practice provider recruitment for the Department which includes developing pro-forma to assess financial and program impact of new faculty and services.

Research Administration:

Directs and oversees contract and grant acquisition, written proposals, budget preparation and administration and monitoring of funds to ensure university, state and federal requirements and regulations are met.

Administers activities that are necessary to the application and management of grant programs focusing on the fiscal and operational aspects. Oversees the administration of expenses charged to grants for appropriateness and confirms that funding is budgeted, and expense is allowable.

Productivity & Compensation Plan Oversight

Works with Division Administrators and department providers in tracking productivity and incentive payments. Collaborates with the MCVP’s compensation team to address compensation requests.

Assists with productivity analysis and accountability of Division faculty. In collaboration with Division Administrator/Chief, recommends, oversees and directs remediation plan to meet MCVP and VCU productivity expectations. Works with the MCVP compensation plan team and assists faculty and other providers in the credentialing process and professional liability verification. Will work be proficient in VCU systems and benchmarking applications.

Revenue Cycle Management

Assists the Department Administrator, in partnership with the revenue cycle team, to assure that all elements of revenue cycle are being reviewed on a very regular basis. Review revenue cycle opportunities with Division Administrators and Department leadership.

Leadership/Relationship Development:

Provides strong team oversight and promotes and manages change. Responsible for ensuring divisional priorities are aligned with the strategy of the organization. Responsible for developing a diverse, equitable and inclusive team culture, and ensures stakeholder feedback is incorporated into operational plans. Represents the department(s) in various committees and task forces as needed. Collaborates with Faculty, advanced practice providers, and staff to ensure open communication and perceived urgency of suggested operational improvements. Responsible for divisional engagement in collaboration with divisional chief(s). Educates Department, Division and providers on funds flow, finances, and operational/statistical reports.

Employment Qualifications:

Required Education:

Minimum Qualifications:

Required Qualifications: Table below outlines expectations of work experience of progressively more responsibility in a management position with financial and supervisory oversight.

Primary Duties:

• Comprehensive management and leadership of fiscal and administrative efforts
• Monitor and oversee revenue and expense budgets, including grants, expenses, assets, liabilities and contracts
• Budget development and implementation
• Leadership relationship development
• Oversight of financial operations: revenues, expenses service agreements, grants, and training activities
• Review, monitor, and analyze Department’s financial and operational performance
• Manage reimbursements from philanthropic foundations
• Assist building program/service line business plans
• Human resources management
• Oversee and manage department compensation

Education, Certification & Experience

0 – 3 years of relevant experience or successful graduation in an MHA residency program

Education:

• Bachelor’s degree in Accounting, Finance, Economics, or other relevant field
• Preferred: Master’s degree in business, health administration, or other relevant field

Autonomy

Determines and develops approaches to solutions with work subject to general input by manager or senior team members.

Other Knowledge, Skills And Abilities Required:

Must be able to use financial, Human Resources, University and Health System resources to make independent decisions and determine actions necessary to achieve the goals of the Division(s).

Experience with Microsoft software, to include spreadsheets and databases.

Preferred knowledge of various finance and business intelligence (BI) application platforms. Examples: Tableau, Vizient, WorkDay, Strata, EPIC, Anaplan, etc. to develop dashboards/reports used to manage the Department and Divisions.

Experience PREFERRED:

• Administrative and/or financial management work experience in an academic medical center and/or large physician group practice.
• Previous experience with Enterprise Resource Planning Systems, Electronic Health Record systems; and VCU and VCUHS information systems.
• Experience leading diverse teams.

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