The University of Texas Medical Branch Director of Budget & Analytics - Forecasting, Budgeting & Analysis in Galveston, Texas
Bachelors’ Degree in Accounting or related field of study and 8 years of relevant work experience including prior supervisory experience and experience with budgeting and forecasting tools in a large organization.
Function: The Director, Financial Analysis role is responsible for developing and leading a team with accountability for on-going corporate performance review by identifying and communicating key variances from budgets and forecasts, comparing key metrics to benchmark data, and using other analytics as appropriate. The individual filling this role must have a deep understanding of financial relationships and the ability to interpret trends that inform management decision making. The position will work closely with the corporate budget director and members of the Finance Leadership Team and operational leadership of major organizational units to identify performance issues and recommend corrective actions. The position will be responsible for preparing financial forecasts for submission with the annual operating budget and delivering reports and presentations to the UTMB Executive Leadership Team.
Scope: Institutional financial analysis
Specific Job Related Duties
- Monitor monthly financial performance as compared to plan and prepare and present analysis that explains variances and proposes corrective action
- Review financial information and identify developing trends that inform forecasts and management decision making
- Collaborate with finance and operational leaders to develop institutional assumptions, maintain financial forecasts and prepare the six-year financial forecast submitted annually with the State Operating Budget
- Assist with development and maintenance of metrics and comparisons to benchmarks
- Provide leadership in the utilization of technology and best practices to ensure continuous process improvement
- Adheres to internal controls and reporting structure
- Coordinate completion of an integrated budget calendar which identifies timelines for key deliverables, including those of major organizational units, to support preparation of the State and Institutional operating budgets.
- Work with President and EVPs to determine mission-level targets and with Finance VPs to determine department targets
- Coordinate with the 1115 Waiver Office to develop the overall DSRIP budget
- Manage the preparation of the State and Institutional operating budgets by coordinating with Budget and Analysis team members to ensure timely completion of key milestones across the major organization units.
- Lead process and collaborate with EVPs and Finance VPs to determine Faculty New Hires and clinical volumes for the upcoming year
- Work with VP Finance Academic Enterprise to review appropriateness of faculty commitment forecasts and budgets
- Manage the preparation of the biennial Legislative Appropriations Request and coordinate responses to Fiscal Notes and other external and internal requests for information during the Legislative session.
- Coordinate preparation of operating budgets by working directly with departmental personnel and maintaining a detailed understanding of departmental finances.
- Coordinate completion and review of financial plans and operating budgets of University Service Centers and University Cores and prepare annual Service Center Profitability Analysis per IHOP 4.5.1.
- Develop capital budget process in conjunction with Finance VPs
- Ensure completion of ad hoc, budget-related information requests from UT System and UTMB leadership.
- In conjunction with the Director of IT, manage the maintenance of the Institutional Budget System including software upgrades and structural alignment with the Financial Reporting System. Manage the on-going review of budget information presented in financial reports to ensure accurate reporting..
- Manage preparation and validation of Institutional Budget System reports requested by Institutional customers. Provide leadership in the utilization of technology and best practices to ensure continuous improvement in preparation of budgets.
Administrative and Supervisory
- Provide direct leadership to a team of financial professionals through regular communication, active goal setting, and routine coaching to model and promote behavior that aligns with UTMB’s Core Values
- Responsible for recruiting, training, development and evaluation of staff
- Organize and plan work to ensure appropriate prioritization and timely deliverables
- Provide routine status updates and quickly escalate appropriate issues to leadership when necessary
- Ensure retention of Budget and Analysis information is in compliance with the State of Texas retention timelines
- Comprehensive knowledge of Institution’s accounting and budgeting systems (Oracle, Hyperion, EPSI) and Microsoft Office (Excel, PowerPoint, Word, and Outlook), with excellent Excel skills
- Prior experience with budgeting processes and tools at a large organization
- Possess a strong understanding of financial statements and financial relationships as well as a sound working knowledge of Generally Accepted Accounting Principles and accounting practices and procedures
- Ability to execute the efficient retrieval and compilation of financial data and statistical information for decision support
- Ability to analyze /evaluate data and make appropriate decisions/recommendations
- Must possess strong oral and written communication skills and has the ability to effectively work and communicate with individuals at all levels of the institution
- Strong organization and planning skills with ability to manage multiple projects simultaneously
- Hands-on management style with the ability to drive projects to closure
External Relations and Development
- Actively participate with Finance colleagues in completing initiatives, goals and priorities
- Develop productive relationships with UTMB personnel across campus while accomplishing institutional objectives
CPA and/or Masters’ Degree in Business or related field is strongly preferred.
Preferred Work Experience
Experience in Academic Medicine is desirable.
Equal Employment Opportunity
UTMB Health strives to provide equal opportunity employment without regard to race, color, national origin, sex, age, religion, disability, sexual orientation, gender identity or expression, genetic information or veteran status. As a VEVRAA Federal Contractor, UTMB Health takes affirmative action to hire and advance women, minorities, protected veterans and individuals with disabilities.
Full/Part Time: Full-Time
Job Title: Director of Budget & Analytics - Forecasting, Budgeting & Analysis
Job ID: 56111
Business Unit: FINCE