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Senior Financial Analyst, Operations Budget

University of Iowa Health Care Department of Finance & Accounting Services is seeking a Senior Financial Analyst to assist with coordinating the preparation of annual operating budgets for all units within the University of Iowa Health Care. The SFA will work closely with the Manager of Hospital Operating Budgets and other UI Health Care staff to assist in the annual budget development and in ongoing monitoring of actual versus budget performance on a routine basis.Hybrid within Iowa: Following an onsite training period, this position is eligible for a combination of on-campus and remote work. Remote work must be performed within Iowa and will require a work arrangement form to be completed upon the start of your employment. Per policy, work arrangements will be reviewed annually, and must comply with the remote work program and related policies and employee travel policy when working at a remote locationPosition Responsibilities• Assist the Manager of Hospital Operating Budgets in planning, developing, reviewing, and compiling the annual University of Iowa Health Care budget units.• Analyze and prepare data, including Statistics, RVUs, gross and net revenues, hours, labor expenses, and non-labor expenses, for use in the budget process.• Provide ongoing support to departmental and management staff regarding financial data and processes.• Prepare analysis and monitor actual performance versus budget. Work with departmental managers to analyze and understand variances.• Analyze the submitted budgets to determine if they are reasonable, accurate, and attainable. Provide recommendations for change to administrators.• Support the development, implementation, and maintenance of the Strata operating budget system and other data sources used to support the budget process.• Provide support and analysis for departmental and management questions and for new requests as they arise.• Develop working relationships with Hospital and other health care area departments and provide timely and accurate information to management and departmental requests.• Develop working relationships with UI departments and external parties, including UI Accounting Services, Strata consultants, auditors, and others.Required• A Bachelor’s degree in Business Administration or Accounting or an equivalent combination of education and experience is required.• Minimum of 3 years of accounting, budgeting and/or financial analysis experience• Reasonable knowledge of complex financial and statistical analysis and presentation.• Demonstrated proficiency in computer software applications.• Excellent written, verbal, and interpersonal communication skills• Strong attention to detail• Ability to prioritize and coordinate inquiries from departments, managers, and administration.Desired• Relevant healthcare accounting experience preference given to a background in hospital budgeting.• Experience with system tools including but not limited to: GL Reporter, Strata operating budget software, Strata management reporting software, HEDI Data Warehouse, Microsoft Office, and PeopleSoft GL and HR systems.• Ability to multi task and work in a fast-paced environment.• Knowledge of University accounting policy, procedures, and systems.Application Process: To be considered, applicants must upload a cover letter and resume (under the submission of relevant materials) that clearly address how they meet the listed required and desired qualifications of this position. Job openings are posted for a minimum of 14 calendar days. Successful candidates will be required to self-disclose any conviction history and will be subject to a criminal background check and credential/education verification.Up to 5 professional references will be requested at a later step in the recruitment process. For questions, contact Sharon Walther at sharon-walther@uiowa.edu.This position is not eligible for University sponsorship for employment authorization.Additional Information• Classification Title: Senior Financial Analyst• Appointment Type: Professional and Scientific• Schedule: Full-time• Work Modality Options: Hybrid within IowaCompensation• Pay Level: 4BContact Information• Organization: Healthcare• Contact Name: Sharon Walther• Contact Email: sharon-walther@uiowa.edu

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What You Should Know About Senior Financial Analyst, Operations Budget, University of Iowa

Are you ready to take the next step in your finance career? The University of Iowa Health Care is on the lookout for a Senior Financial Analyst, Operations Budget to join our Finance & Accounting Services team right here in Iowa City, IA. In this exciting role, you'll collaborate with the Manager of Hospital Operating Budgets and various healthcare professionals, playing a critical part in the preparation and monitoring of annual operating budgets across all service units. After a short onsite training period, you'll be able to enjoy the flexibility of a hybrid work model, combining both on-campus and remote work—perfect for maintaining a work-life balance while making an impact in healthcare finance. Your responsibilities will include analyzing and preparing a range of financial data, providing insightful variance analyses, and supporting departments to ensure that budgets are realistic and attainable. This role is ideal for those with a strong accounting or financial analysis background—preferably in healthcare—who can bring their analytical prowess and keen attention to detail to the table. If you're excited about playing a pivotal role in financial planning and analysis in healthcare, and you're eager to develop collaborative relationships with hospital departments and external partners, we can't wait to see your application! Come and contribute to our mission of delivering exceptional healthcare to our community while enhancing your professional journey.

Frequently Asked Questions (FAQs) for Senior Financial Analyst, Operations Budget Role at University of Iowa
What are the primary responsibilities of the Senior Financial Analyst at University of Iowa Health Care?

The Senior Financial Analyst at University of Iowa Health Care is responsible for assisting in the preparation and ongoing monitoring of annual operating budgets for all healthcare units. This role includes analyzing financial data, preparing budget variance analyses, supporting departmental queries, and ensuring accuracy in budget submissions.

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What qualifications are required for the Senior Financial Analyst position at University of Iowa Health Care?

Candidates for the Senior Financial Analyst position at University of Iowa Health Care must possess a Bachelor's degree in Business Administration or Accounting, along with a minimum of three years of relevant accounting, budgeting, or financial analysis experience. Proficiency in computer software applications and excellent communication skills are also essential.

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Can the Senior Financial Analyst work remotely while employed at University of Iowa Health Care?

Yes, the Senior Financial Analyst position at University of Iowa Health Care offers a hybrid work model. After completing an onsite training period, employees can work remotely within Iowa, provided they comply with relevant company policies and submit a work arrangement form.

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What software experience is preferred for the Senior Financial Analyst role at University of Iowa Health Care?

The University of Iowa Health Care prefers candidates with experience in system tools related to financial analysis, such as GL Reporter, Strata operating budget software, and PeopleSoft systems. Familiarity with Microsoft Office is also highly beneficial.

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How does the Senior Financial Analyst ensure budget accuracy at University of Iowa Health Care?

The Senior Financial Analyst ensures budget accuracy at University of Iowa Health Care by conducting thorough reviews of submitted budgets, analyzing financial data for reasonableness, and providing actionable recommendations for changes to division administrators.

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Common Interview Questions for Senior Financial Analyst, Operations Budget
Can you describe your experience with budget preparation in your previous roles?

In responding to this question, focus on specific examples where you managed or contributed to budget preparation, detailing your analytical processes, collaborative efforts with various departments, and any tools or methodologies you utilized to ensure accurate budgeting.

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How do you handle discrepancies between actual and budgeted financial performance?

Explain your systematic approach to identifying variances, analyzing both quantitative and qualitative data, and how you communicate findings to relevant stakeholders. Emphasize your problem-solving skills in proposing actionable solutions based on your analysis.

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What software tools have you used for financial analysis and budgeting?

Share your experience with various financial and accounting software, particularly any systems like PeopleSoft, Strata, or GL Reporter. Describe how these tools enhanced your efficiency and accuracy in financial reporting and budgeting.

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Discuss how you prioritize multiple budget-related tasks from various departments.

Articulate your time management strategies, mentioning specific practices you employ to balance competing priorities. Stress your organizational skills and how you communicate with stakeholders to set realistic timelines.

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Describe a challenging financial analysis project you have worked on.

Narrate a specific instance that posed challenges, explaining the steps you took to overcome those hurdles, the final outcome, and your learnings from the experience. Highlight the impact of your analysis on the organization.

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How do you communicate complex financial information to non-financial stakeholders?

Discuss your approach to simplifying complex financial concepts using clear narratives and visual aids. Provide an example of how you effectively communicated such data to a diverse audience and ensured comprehension.

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What strategies do you use to ensure accuracy in financial reporting?

Share your systematic approach to ensure accuracy, including double-checking data, using automated tools for calculations, and conducting audits of your analyses. Highlight your attention to detail and commitment to quality.

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How do you stay updated on best practices in financial analysis?

Talk about your commitment to professional development, which might include attending workshops, webinars, and reading relevant finance literature. Mention any certifications or memberships in professional organizations.

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What role does teamwork play in successful budget management?

Elaborate on the importance of collaboration with various stakeholders in the budgeting process. Describe how you foster teamwork and share responsibilities to achieve the organization's financial goals.

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Can you give an example of how you've used data analysis to impact a financial decision?

Provide a solid example where your data analysis directly influenced a financial decision. Explain your analytical methods, the insights derived, and how those insights were utilized by the organization.

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Upon its founding in 1847, the University of Iowa was entrusted by the state legislature with a threefold mission of teaching, research, and public service. In pursuing that mission today, the university: • provides exceptional teaching and trans...

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Full-time, hybrid
DATE POSTED
December 4, 2024

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