FINANCIAL ANALYST, BUDGETS AND BUSINESS PLANNING

Hackensack Meridian Health - Edison, NJ

Full-time - Mid Level

Edison, NJ

Hospitals

About the position

The Financial Analyst of Budgets and Business Planning at Hackensack Meridian Health (HMH) plays a crucial role in the financial planning and analysis process for the organization. This position is responsible for planning, monitoring, coordinating, collaborating, compiling, and analyzing budget and business plans for the PSD network as assigned. 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 on various analyses, projections, annual capital, and operating budgets, as well as the monthly close process. The role encompasses all financial aspects of HMH's goals, including operational matters that affect the preparation and reporting of monthly financial statements, budgeting, internal controls compliance, and oversight of outsourced accounting functions. In this position, the Financial Analyst will apply Generally Accepted Accounting Principles (GAAP) in carrying out core responsibilities and special projects. They will consistently and timely communicate with applicable HMH department leaders and corporate level regarding inquiries, preparing and communicating business plans while following through with the appropriate 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, reaching out to ancillary department managers to collect volume variance justifications and compiling reports for management. This includes a focus on flexed salary and supply variances through the application of volume to variance equations. The Financial 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. They will conduct extensive analysis on the Missions Support variances in collaboration with the Physician Practice team and maintain the upkeep of the Finance quid that are site-based to assist clinical leaders. Additionally, the analyst will be responsible for comprehensive Mission Support Analysis for the assigned site and will review and complete monthly accruals based on budget expectations, working with the accounting team to ensure proper recording of standard entries and recoveries. Adherence to HMH Organizational competencies and standards of behavior is essential, along with the completion of other duties and/or 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.
• Fully responsible to complete the budgets to selective cost centers from the assigned site.
• Responsible for working with Strategy, business development and operations to develop business plans for new and incremental growth for 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 the clinical leaders.
• Responsible for comprehensive Mission Support Analysis for the assigned site.
• Responsible for review and completion of 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.
• Completes 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 including health insurance, dental insurance, and vision insurance.
• Paid time off and paid holidays.
• 401k retirement savings plan with employer matching contributions.
• Opportunities for professional development and continued education.