Finance Director

POSITION SUMMARY :

Under the general supervision of the Sr. Administrative Director and the Chair of the Department of Pathology & Laboratory Medicine BMC & BUMG the Finance Director is responsible for the timely and accurate successful financial management, revenue integrity and optimized revenue cycle of the BU Mallory Pathology Associates (BUMPA), Inc., faculty practice plan, Boston University Medical Group [50% effort], the Boston Medical Center Health System (BMCHS) Hospital Billing (HB) [40% effort]; as well as assistance with the Boston Medical Center Affiliated Physician (BMCAP) (10% effort] professional billing.

The Financial Director ensures all duties and responsibilities with regard to the professional practice and hospital fiscal goals are met. Particularly, ensuring the fiscal management of department activities, including: > $20M budget management, BUMPA faculty and support staff. Inclusive of these responsibilities include contributing to revenue cycle success for the Boston Medical Center Laboratory operations in collaboration with the Laboratory Revenue Cycle and Revenue Integrity Teams. Working to align with the BMC Coding Team and the LIS teams is essential.

The Finance Director will develop and manage operational budgets and individual program budgets, monitor monthly cash flow and accounting, reporting and faculty productivity. In addition, managing the pre-award and post award preparation of grant submissions, subcontracts, and contracting process for any awards to the clinical services. Duties include maintenance of fiscal and financial records of assigned budgets, contracts and grants. The position also serves as the primary administrative contact on assigned budgets, contracts and grants. Responsible for managing various financial and administrative tasks including support of research programs. Works in collaboration with Pathology staff members to monitor all aspects of financial activities. The Finance Director, in collaboration with the Sr. Administrative Director and the Chair, will negotiate contracts and MOUs with outside parties.

The Finance Director also manages development of pro formas for recruiting faculty, processing on-boarding and off-boarding faculty, maintaining clinical faculty records and collaborating with the department’s administrative team for recruiting, hiring, licensing and credentialing faculty. The Financial Director ensures the Chair and BUMPA remain compliant with the BUMPA compensation plan. Tracking of RVU performance and annual review of the faculty compensation plan expected. The Finance Director also supervises the Revenue Integrity Manager for Laboratory Medicine, the Pathology Billing Manager, Grant Manager, and the department coding and accounting team members.

Position: Finance Director

Department: Laboratory Admin

Schedule: Full Time

ESSENTIAL RESPONSIBILITIES / DUTIES:

Finance management

• Manages Department Financial Dashboard in conjunction with the Revenue Cycle team at BMC.
• Responsible for interpreting terms of grants, subcontracts, and contracts; ensuring timely and full completion of all submissions, setting up reconciliation systems and monitoring that all funding and expenses are properly allocated
• Works with the Sr. Administrative Director, Chair and other managers to create annual operating budgets, monitor actual results in accordance with budget and funding source regulations. Use the budgets as a tool to effectively measure organizational performance.
• Performs timely monthly closings, monthly financial statements and ensure that all payable accruals are made.
• Performs monthly trial balance, account receivables and payables, contract billings and all journal transactions.
• Prepares and provides all necessary analyses for year end audit, as well as, the timely completion of the audit.
• Assist Section Leadership in the developments of budgets. Help ensure that all necessary information is included and accurate.
• Provides Sr. Administrative Director and Chair with reports showing budgeted and actual account status including encumbrances: ensure that reports are received reviewed and understood and completed in a timely manner.
• Preparation and coordination of financial progress and continuation reports as required by the funding agency.
• Reviews and approves all expense transactions to ensure that they are allowable, allocable and applicable.
• Represents BUMPA at administrative meetings and disseminates information to faculty and staff, as appropriate.
• Manages payroll for faculty and Boston University staff, monitoring monthly payroll distribution, assuring that all personnel are paid correct amounts with proper account distribution. Work with BU and BMC personnel, payroll, and research administration to make necessary changes and reconciliation’s related to payroll. Perform online entry of timesheets for non-exempt employees.
• Reviews and approves requests for re-budgeting and perform the necessary account maintenance.
• Works with the Sr. Administrative Director and Chair to monitor department account activity and coordination of all BU/BMC grant and contract and BU unrestricted account activity. Prepare annual budget projections for review by the Director.
• Oversees the purchase of BU/BMC grant and contract-related supplies, equipment, and all BU unrestricted accounts; monitor expenditures ensuring charging to appropriate accounts.
• Performs all other necessary accounting functions including budget and expense analysis, trial balances, general ledger maintenance, monthly billings, financial reporting, labor distribution changes, preparation of adjusting journal entries, cash management, financial planning, purchasing approvals, and accounting reconciliation.
• Performs all grant closeout functions, as required by the funding source.
• Assists in the training of new staff on proper policies and procedures.
• Maintains required level of professional knowledge on finance and research administration as requested by attending training programs as requested by Manager.
• Ensures timely filing of charges with CHC partners.
• Liaison to the BU payroll, human resources, purchasing, research admin and financial affairs.
• Utilizes hospital's Values as the basis for decision making and to facilitate the division’s hospital mission.
• Follows established hospital infection control and safety procedures.

Performs other duties as assigned or as necessary

(The above statements in this job description are intended to depict the general nature and level of work assigned to the employee(s) in this job. The above is not intended to represent an exhaustive list of accountable duties and responsibilities required)

JOB REQUIREMENTS

REQUIRED EDUCATION AND EXPERIENCE:

Bachelors degree and a minimum seven years of experience in financial management and pre-and post-award grant-contract administration.

PREFERRED EDUCATION AND EXPERIENCE (If none, please enter “N/A”):

Bachelor’s Degree in Accounting, Finance or related field, with experience in Pathology preferred.

CERTIFICATIONS, LICENSES, REGISTRATIONS REQUIRED (If none, please enter “N/A”):

None

CERTIFICATIONS, LICENSES, REGISTRATIONS PREFERRED (If none, please enter “N/A”):

None

KNOWLEDGE, SKILLS & ABILITIES (KSAs) (If none, please enter “N/A”):

• Accounting management experience.
• Strong analytical skills.
• Excellent communication and interpersonal skills.
• The ability to provide leadership and work effectively as a team member.
• The ability to work independently, take initiative and handle multiple priorities.
• Knowledge of federal and non-federal regulations and operational policies of sponsored research including OMB A-110, A-122, A-133, OASC-3 and PHS grants policy statement.
• Must have the ability to work in a fast paced environment with strict deadlines. Must be well organized and able to manage multiple priorities.

Compensation Range:

This range offers an estimate based on the minimum job qualifications. However, our approach to determining base pay is comprehensive, and a broad range of factors is considered when making an offer. This includes education, experience, skills, and certifications/licensures as they directly relate to position requirements; as well as business/organizational needs, internal equity, and market-competitiveness. In addition, BMCHS offers generous total compensation that includes, but is not limited to, benefits (medical, dental, vision, pharmacy), discretionary annual bonuses and merit increases, Flexible Spending Accounts, 403(b) savings matches, paid time off, career advancement opportunities, and resources to support employee and family well-being.

NOTE : This range is based on Boston-area data, and is subject to modification based on geographic location.

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