Director of Finance - Boston, MA onsite - (PERM ROLE)
Must Haves:
Workday - Strata - Physician Finance Experience - Medical Center Experience - CPA or Master's Degree in Finance, Business, Public or Health Management.
Job Summary
The MGB Neuroscience Institute (NSI) Director of Finance is a critical member of the Institute leadership team and serves as the most senior finance leader across the MGB Departments of Neurology and Neurosurgery. They report directly to the Executive Administrators for the MGB Departments of Neurology and Neurosurgery and are responsible for all budget, financial, and accounting functions of the MGB Departments of Neurology and Neurosurgery across:
- Brigham and Women’s Hospital (BWH), the Brigham and Women’s Physicians Organization (BWPO), and Brigham and Women’s Faulkner Hospital (BWFH);
- Massachusetts General Hospital (MGH) and Massachusetts General Physicians Organization (MGPO)
- Harvard Medical School (HMS); and
- Mass General Brigham (MGB)
More specifically, the Director is responsible for the accounting operations, accounts receivable and payable, revenue cycle operations, faculty compensation oversight, operating and capital budgets, sundry fund oversight, and internal control processes for the MGB Departments of Neurology and Neurosurgery. The Director interfaces closely with and provides strategic council to peers and other senior leaders, ensuring that appropriate and accurate financial data informs the strategic and reporting priorities of the NSI and MGB Departments of Neurology and Neurosurgery. The Director is responsible for bringing automation and increased efficiency to an already high-performing environment. Additionally, the Director will oversee the financial integration efforts for both the MGB Departments of Neurology and Neurosurgery and, working closely with the NSI Chief Administrator, help stand up the appropriate financial infrastructure for the NSI and participate in NSI strategic initiatives and councils as appropriate.
Duties and Responsibilities
Leadership:
- Ensures that the highest standards of integrity, ethics, control, and confidentiality are always maintained across all financial and accounting matters under the purview of the NSI and MGB Departments of Neurology and Neurosurgery.
- Continually and openly communicates with the NSI Chief Administrator and NSI Executive Administrators on all matters related to the NSI and Departments of Neurology and Neurosurgery fiduciary responsibilities. Provides financial leadership and counsel.
- Establishes and enforces finance and accounting policies across the MGB Departments of Neurology and Neurosurgery congruent with NSI, BWH, BWPO, BWFH, MGH, MGPO, HMS, and MGB guidelines.
- Develops and maintains healthy working relationships with NSI and MGB Departments of Neurology and Neurosurgery administrators and central team members, ensuring their understanding of and compliance with finance and accounting policies, deadlines, controls, separation of duties, and directives, and providing training as appropriate.
- Provides analytical support, projections, modeling, and recommendations to NSI and Department leadership, Chairs, division administrators, central team, and others regarding current financial status, budgets / forecast, compensation, and proposed initiatives (e.g. compensation plan redesign, overhead allocations, department charge analysis).
- Reviews and approves selected transactions and requests for spending (e.g., advanced authorizations, expense reports) for the MGB Departments of Neurology and Neurosurgery.
- Measures and communicates operational performance of the NSI and Departments of Neurology and Neurosurgery, identify opportunities, assist in the implementation of any enhancements, and is responsible for internal control processes.
- Works closely with the Executive Administrators of Neurology and Neurosurgery on the development of policies, operating and administrative programs, and strategic plans.
Budget:
- Designs and implements a budget process that leverages the technology (e.g., Workday and Strata) and resources (e.g., Revenue Cycle Operations) available for an accurate and efficient budget.
- Responsible for the timely and accurate preparation of annual financial plans and forecasts for the NSI and Departments of Neurology and Neurosurgery.
- Ensures that the NSI and Departments of Neurology and Neurosurgery budgets are developed, reviewed, approved, and submitted consistently with MGB, and HMS standards.
- Meets with NSI Executive Director and Chief Administrator, and Department Chairs and Executive Administrators to review annual budget pre- and post-submission. Leads monthly and/or quarterly update meetings as needed.
- Oversees budget variance and expense management issues; works with Executive Administrators on strategies for cost containment as necessary.
- Represents the NSI and Departments of Neurology and Neurosurgery in budget reviews with BWH/MGH President, COO, CFO, NSI Executive Director, Departments of Neurology and Neurosurgery Chairs, and others as necessary.
Accounting and Financial Operations:
- Monitor all physician organization, hospital, HMS, sundry funds, and endowments with the NSI and Departments of Neurology and Neurosurgery.
- Ensures accurate reporting of profit and loss statements for operational accounts, balance sheets, reforecasts, and cash flows for the NSI and Departments of Neurology and Neurosurgery.
- Coordinates with Accounts Payable, Research Finance, Payroll, and other departments as needed for resolution of errors or identification of charges.
- Responsible for working with Executive Administrators and physicians to prevent, identify and resolve projected overruns and deficits in a timely manner for clinical funds.
- Accountable for comprehensive monthly accounting of hospital support to the NSI and Departments of Neurology and Neurosurgery, including via direct and indirect support. Oversees account reconciliation process and ensures appropriate adjustments, inter-company settlements and follow-up are performed on a timely basis.
- Provides oversight of the NSI and Departments of Neurology and Neurosurgery non-patient contractual arrangements, which requires coordination with the central billing offices related to generation of invoices, collection of outstanding receivables, payment posting of receipts, and monthly reporting.
- Manages professorship endowments through Harvard Medical School.
- Assists in establishing and closing out of sundry funds.
- Manages existing sundry funds, endowments, and advice on combination and or elimination of sundry funds.
- Reconciles all chief/faculty packages in conjunction with the Executive Administrators on a regular basis and shares updates with relevant stakeholders.
- Works with Executive Administrators on capital requests, purchases, and assignment of expenditures.
Human Resources Management:
Management Actions:
- Coordinates with Human Resources for the interviewing, hiring, personnel transactions (e.g., hiring, salaries, promotions, job descriptions) and implementation of institutional corrective action policy for direct reports.
- Using Workday - initiates, approves, and coordinates with Human Resources for approval of human resources changes (e.g., salary adjustments, salary distributions, training records) for staff.
- Take corrective and disciplinary action, up to and including termination, as necessary to maintain the highest level of staff productivity and effectiveness.
- Reviews workload issues to ensure appropriate staffing.
- Serves as Workday Manager Support and Costing Partner for many, if not all, department supervisory organizations to facilitate transactions and reports as needed.
Qualifications:
- CPA, master’s degree in finance, business, public or health management, or equivalent work experience required.
- 7-10 years of experience in healthcare in an academic medical center, with a combination of finance, accounting, and/or operations management experience required.
- Mastery of budgetary and accounting principles/practices required, including the ability to prepare, interpret, and analyze financial information.
- Experience including budget, financial analysis, and/or reimbursement in a physician practice or managed care environment, required.
- Significant management experience required with a demonstrated track record of successfully leading teams.
- Experience working in a highly matrixed organization / environment strongly preferred.
- Outstanding organizational skills to manage many competing responsibilities and priorities.
- Ability to delegate, effectively supervise, and plan for the timely and successful completion of objectives.
Knowledge, Skills, and Abilities Required:
- Leadership: A demonstrated ability to interact with all members of the organization in ways that enhance understanding, respect, cooperation, and problem solving is essential.
- Results orientation: Results-driven approach with experience/ability to achieve results in a metrics based analytical environment.
- Organizational Skills: Outstanding organizational skills are necessary to manage many competing timetables and responsibilities and deadline pressures.
- Collaboration: Able to work effectively within a matrixed based organizational structure. Collaboration with administrative staff will be essential.
- Communicator/Facilitator: Excellent interpersonal, presentation and organizational skills and professional demeanor. Demonstrated sensitivity, discretion, and judgment regarding confidential matters are essential. Excellent verbal and written communication skills are necessary to communicate effectively with a large and diverse constituency, including the chairs/chiefs, senior departmental leaders, research faculty at all levels, research trainees and staff, potential donors, representatives, and vendors.
- Judgement: Demonstrated judgement in managing sensitive issues and when to escalate problems.
