Financial Analyst II

Cincinnati Children's

6d•Onsite

About The Position

The Financial Analyst II role involves preparing financial models and analyses to support business transactions, service offerings, and performance improvement initiatives. This position will also be responsible for utilization analysis, trending, budget development and monitoring, and reporting on financial performance and productivity metrics. Additional responsibilities include supporting revenue cycle management, researching payer issues, and participating in cost reduction and revenue goal initiatives. The role also encompasses procurement and operations, including purchasing, resource allocation, space planning, and monitoring business processes for efficiency. Ensuring data accuracy in various systems, advancing technology use for decision-making, and supporting externally funded projects with grant budgets and expense tracking are also key aspects. Leadership responsibilities may include functional leadership for a team, performance reviews, guiding work assignments, and serving as a functional expert. The role requires strong communication skills to report financial status and relay financial information clearly to decision-makers.

Requirements

Bachelor's Degree in a related field
2+ years of work experience in a related job discipline

Nice To Haves

Bachelor of Science Degree in Accounting or Finance

Responsibilities

Prepares financial models/analyses to support current and proposed business transactions, service offerings, performance improvement initiatives, etc.
Prepare utilization analysis and trending.
Identify issues that require additional analysis and develop reporting to support the analysis.
Assist in the development and implementation of the division's annual and capital budget.
Develop and maintain reporting to provide monthly analysis of variances and to make recommendations.
Analyze and monitor financial performance and assist in the reporting of financial results.
Monitor and report productivity metrics.
Provide support for revenue cycle management including billing, coding, charge capture and reporting.
Research and resolve payer issues.
Participate in projects/initiatives to reduce costs and meet revenue goals.
Responsible for purchasing activities, acquisition and allocation of resources.
Participate in space planning.
Monitor business processes to ensure effective and efficient operations; monitor efficient patient flow patterns to maximize clinical and staff efficiency; support the review of policies and procedures for improved utilization and operations; identify opportunities for improving cost and quality of care and develop and provide recommendations for improvement.
Initiate departmental financial transactions with approval.
Ensure accuracy of data recording and tracking in applicable clinical, human resource, financial and supply chain systems.
Advance the use of technology for decision making processes.
Provide support for activities associated with external funded projects, including development and maintenance of grant budgets and expense tracking.
Work with Sponsored Programs and other institutional regulatory offices to support compliance with NIH and other external sponsor guidelines for the application and management of awards.
Interact with various program managers and principal investigators, as well as outside funding agencies, to achieve maximum reimbursement of program costs, and successfully satisfy reporting requirements of outside funding agencies.
May provide day-to-day functional leadership for a team or directly manage a minimal number of support staff.
Establishes team goals.
Gives input into, and performs employee performance reviews.
Oversees and guides work assignments.
Serves as the functional expert and provides guidance to the team.
Assist in the training of new employees.
Serve as a resource and/or mentor to coworkers.
Assist in the development and presentation of department training.
Identify training needs and provide necessary coaching.
May participate in the development and monitoring of an effective staffing and retention strategy, including hiring and terminating employees.
May collaborate with human resources business partners to meet talent management goals; support organizational programs/plans and ensure communication, and adherence to Human Resources policies and related legal and/or compliance requirements.
Work directly with faculty and divisional staff to report financial status of accounts.
Clearly relay financial information into simple concepts for decision makers.
Receive feedback on account portfolios and take necessary steps to analyze and correct information.