Financial Analyst, Budgets and Business Planning

Hackensack Meridian Health - Edison, NJ

Full-time - Mid Level

Edison, NJ

Hospitals

About the position

At Hackensack Meridian Health, the Financial Analyst of Budgets and Business Planning plays a crucial role in the financial health of the organization. This position is responsible for planning, monitoring, coordinating, collaborating, compiling, and analyzing budget and business plans for the PSD network. The analyst will assist in providing monthly financial information related to assigned areas, working closely with Operations, controllers, financial analysts, Administrative Directors, and the Executive Office. The role involves various analyses, projections, and the preparation of annual capital and operating budgets, as well as participation in the monthly close process as appropriate and applicable. The Financial Analyst will apply Generally Accepted Accounting Principles (GAAP) in carrying out core responsibilities and special projects. This includes timely communication with relevant HMH department leaders and corporate level regarding inquiries, preparing and communicating business plans, and following through with site controllers and administrators. The analyst will aid site controllers in justifying monthly and year-to-date variances and fluctuations using statistical, financial, and operational data. Additionally, the role requires reaching out to ancillary department managers to collect volume variance justifications and compiling reports for management, focusing on flexed salary and supply variances. The analyst will be fully responsible for completing budgets for selective cost centers from the assigned site and will work with Strategy, business development, and operations to develop business plans for new and incremental growth for the physician enterprise. Extensive analysis on the Missions Support variances will be conducted in collaboration with the Physician Practice team. The role also includes maintaining the upkeep of finance quid that are site-based to assist clinical leaders, conducting comprehensive Mission Support Analysis, and reviewing and completing monthly accruals based on budget expectations. The Financial Analyst will work with the accounting team to ensure proper recording of standard entries and recoveries, adhering to HMH Organizational competencies and standards of behavior, and performing other duties and projects as assigned by the site controller.

Responsibilities

• Applies GAAP in carrying out core responsibilities of all assigned duties and special projects.
• Consistently and timely communicates with applicable HMH departments leaders and at corporate level regarding all inquiries.
• Timely prepares and communicates business plans and follows through with the appropriate site controllers and administrators.
• Aids site controllers in justification for the monthly and year-to-date variances and fluctuations using statistical, financial, and operational data.
• Reaches out to the ancillary department managers in collecting volume variance justifications and compiles the report for management.
• Focuses on the flexed salary and supply variances through application of volume to the variance equations.
• Completes the budgets to selective cost centers from the assigned site.
• Works with Strategy, business development, and operations to develop business plans for new and incremental growth for the physician enterprise.
• Conducts extensive analysis on the Missions Support variances working with the Physician Practice team.
• Maintains the upkeep of the Finance quid that are site-based to assist clinical leaders.
• Responsible for comprehensive Mission Support Analysis for the assigned site.
• Reviews and completes monthly accruals based on budget expectations.
• Works with the accounting team to ensure proper recording of standard entries and recoveries.
• Adheres to HMH Organizational competencies and standards of behavior.
• Performs other duties and/or projects as assigned by the site controller.

Requirements

• Bachelor's degree in Accounting or Finance.
• Minimum of 5 years of progressive experience in accounting or 3 years of public accounting.
• Demonstrated knowledge and application of GAAP.
• Excellent analytical skills.
• Highly computer literate, including advanced use of Excel.
• Ability to establish effective working relationships with Senior Management and Staff at all levels of the organization.
• Excellent verbal and written communication skills.

Nice-to-haves

• Masters of Business Administration (MBA).
• Familiarity with Google Suite.

Benefits

• Competitive benefits package
• Supportive work culture
• Opportunities for professional development
• Collaboration and teamwork environment