Finance and Business Manager - IT Business Ops

Stanford Health Care•Palo Alto, CA

18d•$63 - $83•Hybrid

About The Position

This role is responsible for managing the financial aspects of technology investments and operations within the organization. This includes budgeting, forecasting, financial planning, and performance analysis to ensure that expenditures align with the organization’s financial goals and strategies. Additionally, this position will provide valuable insights through detailed financial reporting and variance analysis, facilitating data-driven decision-making for leadership and collaborate with cross-functional teams to assess the financial implications of IT projects and ensure optimal resource allocation, including ROI and capital requirements. Lead the financial management of the IT portfolio and serve as a key advisor to IT leadership. This advanced-level role requires extensive financial expertise and leadership skills. The Business Manager manages the day-to-day financial and business operational activities of the department. Responsibilities include budgeting, forecasting, accounting, long-range planning, pricing, negotiation of contracts, productivity analysis and revenue management.

Requirements

Bachelor’s degree in a work-related field/discipline from an accredited college or university.
Five years of progressively responsible and directly related work experience.
Knowledge of financial systems, including operations, budgeting and analysis, statistics, and forecasting and modeling
Knowledge of principles and practices of organization, administration, fiscal and personnel management
Knowledge of financial and operational management information systems
Knowledge of local, state and federal regulatory requirement related to the functional area
Ability to develop and administer departmental budgets
Ability to identify the need for and to pursue interdepartmental process improvement to maximize financial outcomes
Ability to develop, write, analyze and present business plans, proposals, contracts and financial analysis reports
Ability to use sophisticated conceptual, numerical, analytical and statistical skills to solve complex, unique financial problems
Ability to provide leadership and influence others
Ability to foster effective working relationships and build consensus
Ability to mediate and resolve complex problems and issues
Ability to develop long-range business plans and strategy
Skills: Strong decision making, problem solving, project management, analytical, interpersonal, negotiation, and collaboration skills

Responsibilities

Oversee the financial strategy for the portfolio, ensuring alignment with corporate objectives.
Lead comprehensive financial planning, budgeting, and long-term forecasting processes.
Provide strategic financial insights to inform key investment decisions.
Develop and improve financial models to assess project viability and ROI.
Represent the finance function in strategy discussions, ensuring financial considerations are integral to planning.
Mentor and lead a team of financial analysts, promoting a culture of financial excellence.
Responsible for budget system completion, high level reviews and conducting organization wide analyses for target development.
Conducts or participates in complex projects where analysis requires in-depth evaluation of factors.
Plans, develops, and implements annual operating and capital budgets for the service line.
Monitors all expenditures to ensure adherence and compliance with budget, projected spending trends, controls expenditures and ensures cost effective operations within the department; completes variance reports and suggests/implements corrective action to resolve budget variances.
Develops and implements strategies to maximize revenue for the service line while maintaining regulatory compliance.
Assists in the identification and implementation of cost reduction activities for the service line; assesses continuously the financial viability of existing programs and practice patterns, and develop methods to optimize practices and resources.
Performs historical data analysis of past and current years for budget preparation and funding request justification.
Works closely with Finance on long range financial planning (LRFP) and benchmarking for the department and helps interprets LRFP into a plan of action.
Monitors key financial indicators to proactively address financial matters and assist with strategic planning.
Establishes structures to monitor variances and track financial trends including revenue and labor expenses; provides ad hoc reporting for business questions that arise regarding volume, cost, performance and profitability of the department.
Analyzes financial implications and impacts of proposed and existing programs.
Recommends improvements in systems and processes that enhance efficiency and reduce costs within the department and throughout the organization.
Analyzes, prepares and makes recommendations on business plans for new services and programs aimed at promoting and expanding the department activities.
Works closely with Director for the development and implementation of strategic initiatives focused on identifying and pursuing opportunities to improve the profitability and market share of the department.
Supervises development of comprehensive business plans and program initiatives to support department goals including financial impact and feasibility.
Assists in translation of business plans into operational reality.
Evaluates feasibility of equipment purchase and reviews contracts for purchase of equipment to ensure consistency with Department expectations regarding financial benefit and other budgetary issues; recommends and participates in selecting outside sources for needed services; negotiates with vendors regarding contracts for equipment maintenance and repair.
Works closely with Finance to ensure operational elements of revenue management including tracking, collecting and recovering revenue; ensures that financial controls are in place to minimize possibility of revenue loss
Sets up audit mechanisms to track charge master and revenue management within department.
Monitors and ensures proper accounting of service line expenditures.
Prepares monthly financial, clinical, benchmarking reports for internal and external purposes.
Oversees expenditures to ensure appropriate use of hospital funds; oversees the favorable negotiation and implementation of contracts with outside parties for products and services
Perform other duties as assigned