Department
BSD AFA - Accounting
About the Department
The University of Chicago biomedical enterprise houses three entities: the Biological Sciences Division (BSD), the University of Chicago Medicine (UCM), and the Pritzker School of Medicine. Collectively called UCM, we are one of the nation's leading academic medical institutions and have been at the forefront of discovery, education, and clinical care since 1927. Located 20 minutes south of downtown Chicago, our Hyde Park main campus provides a single environment for learning, world-renowned basic science and clinical research, and outstanding clinical care.
The BSD is the largest academic unit within the University. The BSD is comprised of faculty from ten basic science departments, 13 clinical departments, and several Centers and Institutes. The approximately 1,300 faculty and 3,000 staff members working in the BSD collaborate across the organization to achieve our Mission, Vision, and Values (MVV):
MISSION: As part of the University of Chicago, we pursue globally impactful solutions to seemingly unsolvable challenges. Through our rigorous research, innovative education, and comprehensive care and healing, we collaborate on life-changing advancements that create meaningful results for our community and the world, including a greater, more equitable future for all.
VISION: Together, we elevate the human experience with knowledge and health care.
VALUES:
• Commit to Excellence: We contribute our exceptional talents to all we do and empower the same spirit of excellence in others.
• Embrace Curiosity: We stay open to new ideas, champion diverse perspectives, and drive a culture of thoughtful risk-taking to deliver transformative innovation.
• Embody Equity: We identify systemic issues and then foster change to drive a more equitable environment inclusive of diverse people, ideas, and fields of science.
• Grow Together: We meaningfully collaborate with one another to create something bigger than we could ever achieve alone.
• Make a Difference: We lead with heart and compassion in all our interactions. We create positive change in our areas of influence, whether expanding scientific inquiry, developing the next generation of leaders, or healing our community.
• Take Ownership: We accomplish what we say we will and hold ourselves and one another accountable for our actions.
The MVV serves as our True North, charting our strategic plan for the next ten years and beyond. It is an exciting time to be a part of the University of Chicago and the BSD. Our team is helping to shape the future for our learners, staff, faculty, patients, and community.
Job Summary
Serves as a senior level resource for operational units on financial, budget, clinical strategy, physician productivity and Faculty Compensation Plan issues. Collaborates with Executive Administrator, Senior Director, Finance Service Delivery and departmental leadership team to develop and implement strategic initiatives for the Department. Under the supervision of the Senior Director, the Director will interact directly with department chair, section chief, or faculty as needed to complete initiatives. Has full accountability for managing projects that may span multiple functional areas (operations, clinical, research, and education). Prepares and advises others on operating budget for department. Provides independent project management and analytical support for special projects. Consolidates Section budgets into departmental operating and capital budget submissions and surfaces/addresses issues for Executive Leadership. Works with department leaders in analyzing proposals and developing proforma business plans. Regularly monitors operating budget reports and accounting records to determine if professional fee revenue and expenses materialize according to plan. Responsible for monitoring and approving expense reimbursements. Identify and reports on causes of variances between the approved budget and actual performance and recommends remediation measures. Ensure accuracy and compliance with financial results by identifying and processing journal entries and payroll transfers, when necessary. Provides ongoing assessment of efficiency and effectiveness of programs and procedures to ensure conformance with budgetary provisions. May mentor and/or supervise positions in the Service Delivery Unit.
Responsibilities
- Develops systems/procedures that are shared with departments to ensure integrity and internal financial controls of annual operating budget and annual gift/endowment use.
- Reviews financial and clinical information; prepares daily, monthly, and ad-hoc reports including dashboards; provides analysis of financial statements, identifies variances from previous periods/budget; ensures policies/procedures to govern financial decision-making are followed to ensure achievement of objectives.
- Responsible for financial management of IADFs, and the associated report out and monitoring of faculty start-ups. Uses this information to manage risk related to spending and identifies financial contingencies as it relates to long range financial planning.
- Evaluates aspects of revenue generation including professional fees, charge capture and billing, regulatory compliance and offsite practice activities to ensure performance is to plan.
- Manages external billing agreements, including but not limited to proforma development, monthly invoicing, monitoring overall financial health of agreement, and identifying financial risks or concerns to the Senior Director.
- Manages and assists with tasks related to monthly close, including but not limited to journal entry, accrual preparation, and completing variance analyses.
- Develops and integrates long/short-range strategies into daily operational and financial planning/reporting to ensure resources for strategic programs are available.
- Performs analysis and interpretation of financial data, may mentor others on interpreting financial data.
- Creates proforma business plans and serves as chief information source for external benchmarking and market assessments to facilitate physician recruitment. Works closely with Senior Director of Finance to ensure business plans are coordinated relative to mission, physician deployment, capital equipment, space, revenue and expense.
- In collaboration with the Senior Director, leads the annual budgeting process and has primary responsibility for assigned areas.
- Serves as experienced liaison with departmental stakeholders to collect and stress test volume assumptions to build revenue budgets, including but not limited to Gifts, Grants and Clinical Revenue. Provides reasonableness/analytical assessment of data inputs with department.
- Utilizes various systems and inputs to build accurate expense budgets including salary and non-wage expense.
- Provides support in developing budget roll up and narrative, as well as identifying financial risks throughout budget process to Senior Director and Department leadership.
- Designs and manages physician compensation programs and tracks financial, wRVU, payor mix, case volume, research, academic and teaching targets for section leadership, existing faculty and new physician recruits.
- Reports on productivity measures and monitors progress, identifies opportunities to streamline financial operations through best practices; monitors productivity, charge capture, revenue and expenses vs benchmarks to identify opportunities for expense reduction or productivity improvement.
- Develops and performs financial and clinical data analysis using internal data (eSimon, Epic, Oracle, and other sources) and published benchmarking (MGMA, AAMC, CPSC, etc.) to develop strategies and reporting to improve physician and departmental performance.
- Develops and performs analysis of financial information and assesses operational plans, forecasts and potential risks; evaluates and proposes alternative courses of action.
- In partnership with the Senior Director, develops standard financial reporting deck for departments.
- Provides financial guidance to section administrators, section chiefs, executive administrators, and Chair.
- Manages/supervises staff; provides training, coaching, and mentoring in order to enable individual and team success.
- Manages the development, monitoring, and evaluation of a consolidated annual and intermediate (typically three to five year) budget plan and budget process for a unit, as well as actual performance against budget.
- Manages the preparation of audits and value-add financial analysis. Advises senior management on financial reporting requirements.
- Performs other related work as needed.
Minimum Qualifications
Education:
Minimum requirements include a college or university degree in related field.
Work Experience:
Minimum requirements include knowledge and skills developed through 7+ years of work experience in a related job discipline.
Certifications:
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Preferred Qualifications
Education:
- MBA or advanced degree in accounting, finance, or related field.
Experience:
- Minimum of 7 years of professional experience in accounting, financial planning, budgeting, analysis, forecasting, modeling, auditing, financial control systems, and regulatory compliance.
- Extensive experience in financial management, including the ability to analyze data for budgeting, operations, auditing and accounts receivable and reserve analysis, pro forma preparation.
- Background in higher education, healthcare, or academic medical center, with a proven track record of success in the financial environment.
Technical Skills or Knowledge:
- Proficiency in financial principles, practices, methodologies, and applications, including budgeting, planning, and reporting within the organization's financial ecosystem.
- Strong financial modeling skills within financial platforms.
- Proficiency in Microsoft Office, including advanced Excel and PowerPoint skills, financial computing, and intellectual versatility and creativity.
- Translate financial data into actionable insights and anticipate trends.
Preferred Competencies
- Aptitude for translating complex issues and ideas to general audience.
- Demonstrated ability to navigate complex environments, exercise sound judgment, and maintain confidentiality.
- Excellent analytical and organizational abilities, with a focus on maximizing efficiency within financial systems.
- Effective interpersonal, verbal, and written communication skills to establish and maintain relationships at all organizational levels.
- Collaborative work style with strong consultative skills, facilitating effective engagement with financial stakeholders.
- Work independently and manage multiple projects and competing priorities with minimal supervision, while navigating financial systems.
- Translate strategic objectives into operational plans, considering the financial landscape.
- Work effectively under pressure, adapting to changes within financial systems.
- Demonstrated ability to think strategically.
- Develop and analyze alternative solutions and assist in making recommendations.
- Work effectively and gracefully under considerable time pressure with competing deadlines and priorities in a fast-paced environment.
Working Conditions
- Office environment.
- Weekend/Evening hours as needed.
Application Documents
- Resume/CV (required)
- Cover Letter (preferred)
- Professional References Contact Information (required)(3)
The University of Chicago uses AI-assisted tools to streamline and augment some recruitment processes; however, AI is not used to make hiring decisions.
When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.
Job Family
Financial Management
Role Impact
People Manager
Scheduled Weekly Hours
40
Drug Test Required
No
Health Screen Required
No
Motor Vehicle Record Inquiry Required
No
Pay Rate Type
Salary
FLSA Status
Exempt
Pay Range
$110,000.00 - $150,000.00
The included pay rate or range represents the University’s good faith estimate of the possible compensation offer for this role at the time of posting.
Benefits Eligible
Yes
The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook.
Posting Statement
The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the University's Notice of Nondiscrimination.
Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via Applicant Inquiry Form.
All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.
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