Financial Analyst - Research and Sponsored Programs - Remote

Highmark Health

Full-time

Remote

Insurance Carriers and Related Activities

About the position

The Financial Analyst position within the Research and Sponsored Programs Accounting office at Allegheny Health Network is a critical role responsible for overseeing financial and post-award management for clinical trials. This position plays a vital part in ensuring the material accuracy of hospital financial statements and involves analyzing financial results, trends, and performance metrics to provide root cause analysis that supports business decisions. The analyst will recommend budget adjustments and other cost improvement measures to enhance financial performance and operational efficiency. In this role, the Financial Analyst will be tasked with recording, classifying, and summarizing financial transactions and events in accordance with generally accepted accounting principles (GAAP). This includes interpreting financial transactions and events for users who must make economic or business decisions. The analyst will maintain processes and perform calculations to support the monthly close process and the generation of monthly financial statements. They will also provide expertise and education related to budgeting, revenue recognition, and reimbursement, correlating revenue and expenses to volumes and preparing reports to assist financial management in assessing financial performance. The position requires the evaluation, updating, and maintenance of processes in support of regulatory and third-party changes, quarterly work papers, annual audits, cost accounting, and third-party cost reporting. A significant part of the role involves performing detailed variance analysis against budget, forecast, prior periods, or other benchmarks. The Financial Analyst will stay abreast of issues impacting the healthcare industry, especially those that have a financial impact on the organization, and will make recommendations to Decision Support Management for financial and performance improvement. Additionally, the analyst will perform all other duties as assigned or required, ensuring compliance with ethical and legal standards as set forth in the company's code of business conduct.

Responsibilities

• Records, classifies, and summarizes financial transactions and events in accordance with generally accepted accounting principles.
• Interprets financial transactions and events for users who must make economic or business decisions.
• Maintains processes and performs calculations to support the monthly close process and the generation of the monthly financial statements.
• Provides expertise and education related to budgeting, revenue recognition, and reimbursement.
• Correlates Revenue/Expense to volumes and prepares reports to assist financial management in assessing financial performance.
• Evaluates, updates, and maintains processes in support of regulatory and third party changes, quarterly work papers, annual audits, cost accounting, and third party cost reporting.
• Performs detailed variance analysis against budget, forecast, prior periods, or other benchmarks.
• Stays abreast of issues impacting the healthcare industry, especially those that have a financial impact to WPAHS.
• Makes recommendations to Decision Support Management for financial and performance improvement.
• Performs all other duties as assigned or required.

Requirements

• Bachelor's Degree in Accounting, Finance, Business Administration or related field OR 6 years of relevant experience in lieu of a Bachelor's Degree.
• Accounting and budgeting experience.

Nice-to-haves

• 1 year in financial analysis
• Proficiency with spreadsheet applications and database management.