Financial Analyst - Faculty Practice Finance

$53,300 - $93,500/Yr

Johns Hopkins - Baltimore, MD

Full-time - Mid Level

Baltimore, MD

Educational Services

About the position

We are seeking a Financial Analyst for the Faculty Practice Finance (FPF) vertical within the School of Medicine (SOM) at Johns Hopkins University. This role is crucial in coordinating and participating in activities related to managing the SOM faculty workforce. The FPF team is part of the SOM Central Finance office, which is responsible for overseeing the financial performance of the School of Medicine and partnering with various departments to advance strategic financial initiatives. The Financial Analyst will perform financial analysis to assist management in establishing financial goals and objectives for the FPF group. This includes conducting financial and accounting activities that support various functions such as budgeting, business plans, professional revenue evaluations, faculty compensation, and funds flow impacts. The Analyst will extract financial data from various accounting and information systems to perform basic to moderately complex cost and financial analyses. Additionally, the Analyst will serve as a project manager to ensure that the FPF team is making progress toward its annual goals. The position requires a strong understanding of financial management principles and the ability to interpret data to evaluate past financial performance and make projections for management decision-making. In this role, the Financial Analyst will also be responsible for managing faculty compensation, including submitting data to external agencies for benchmarking, evaluating annual benchmark data, and managing the annual faculty salary letter process. The Analyst will provide support to departments during the annual faculty budget process and maintain a database of financial agreements with internal and external stakeholders to track support of the faculty practice. Participation in meetings and serving as staff to committees in support of the Faculty Practice is also a key responsibility.

Responsibilities

• Serve as a key member of the team to manage SOM faculty compensation.
• Submit data to external agencies for benchmarking.
• Evaluate annual benchmark data and apply benchmarks to internal data.
• Manage the annual faculty salary letter process.
• Provide support to departments during the annual faculty budget process.
• Maintain a database of financial agreements with internal and external stakeholders to track support of the faculty practice.
• Participate in meetings and serve as staff to committee in support of the Faculty Practice, including workforce planning, new clinical program planning and compensation committees.
• Interpret data to evaluate and determine past financial performance and make financial projections for management.
• Evaluate faculty, clinical associate and APP productivity and provide reports to SOM Central Finance and CPA leadership.
• Review and validate business plans as part of the faculty recruitment process and provide feedback to department stakeholders when data inconsistencies are identified.
• Provide interpretation of accounts, methods and records for management.
• Conduct studies of cost and financial results of business activities; recommend adjustments and other cost improvement measures.
• Review costs and perform cost benefit analysis for projects and/or programs.
• Produce financial reports for forecasting, trading and results analysis.
• Provide reports, findings, and recommendations to management.
• Assist with preparation of special studies, reports, analysis, and recommendations.
• Use financial systems, structures, and controls for a variety of processes that provide tracking, validation, billing, payment and debt reporting.
• Recommend quality control and process improvements with regard to overall business process.
• Keep abreast of laws and regulations that impact compliance.
• Verify documents for completeness and compliance with government and private agencies.
• Review and analyze a variety of financial transactions including general funds and federal and private grants and contracts, as well as gift and discretionary accounts.
• Use various software applications such as spreadsheets, relational databases, and statistical packages to assemble, manipulate and format data.
• Use knowledge of FPF processes, the financial health of Faculty Practice and OHJP, and dashboard monitoring to inform the Faculty Practice budget and conduct reporting and analysis for decision-making purposes.
• Ensure that School and department colleagues are familiar with internal controls and adherence to them.
• Partner with Executive Director and Associate Directors of Faculty Practice Finance; other Faculty Practice Financial analysts; FP&A colleagues; Financial Operations Colleagues; University Controller; JHM Budget team; JHHS/JHM colleagues.

Requirements

• Bachelor's Degree in Finance, Accounting, Business or related field.
• Three years progressively responsible related financial/accounting experience.
• Additional education may substitute for required experience and additional related experience may substitute for required education, to the extent permitted by the JHU equivalency formula.