IT Business Manager
Monument Health Rapid City, SD - Rapid City, SD
posted 3 months ago
About the position
The IT Business Manager at Monument Health is a pivotal role responsible for the financial management and contract administration within the IT department. This position entails overseeing the IT budget and ensuring the financial performance of the IT division is optimized through variance analysis, forecasting, and business case development. The IT Business Manager will act as a liaison between various departments including IT, Finance, and Purchasing, as well as third-party vendors, to ensure efficient management of contracts and purchase orders. This role is crucial in reviewing existing contracts to identify opportunities for financial stewardship and resource allocation, thereby enhancing the overall financial performance of the IT department. In addition to financial oversight, the IT Business Manager will conduct project-based financial analysis and modeling to support operational and capital expenditure reporting. The incumbent will assist in preparing and submitting business cases for financial investments, and will regularly review monthly department results with IT leadership, highlighting performance metrics and coordinating forecasts. The role also involves generating recurring and ad-hoc reports to facilitate data-driven decision-making, ensuring that the IT department aligns with the broader financial objectives of Monument Health. The IT Business Manager will also focus on process improvement, identifying and implementing opportunities to enhance the efficiency of IT finance processes. This includes working collaboratively with IT leadership and senior financial leaders to provide transparency into financial results and analyzing financial risks and opportunities. The position requires strong leadership and collaboration skills, as the IT Business Manager will guide stakeholders in achieving financial objectives and convert complex financial data into understandable reporting summaries and actionable recommendations for IT leadership. Overall, this role is integral to the strategic financial planning and operational success of the IT department at Monument Health.
Responsibilities
- Oversee the budgeting, forecasting, and financial performance for the IT department.
- Conduct variance analysis comparing actual technology spend versus planned forecasts and prior periods.
- Perform project-based financial analysis and modeling to support operational and capital spend reporting.
- Assist in the preparation and submission of business cases for financial investments.
- Review monthly department results with IT Leadership, highlighting performance and coordinating forecasts.
- Support the annual planning and quarterly forecasting processes.
- Create insightful and actionable analyses to inform significant business initiatives.
- Generate recurring and ad-hoc reports to facilitate data-driven decision-making.
- Serve as the point person for IT contracts, coordinating with Finance, Purchasing, and third-party vendors.
- Manage the process of new and renewal contracts and purchase orders to ensure streamlined operations.
- Review existing contracts to identify duplication, opportunities for financial optimization, and consolidation.
- Develop and maintain policies and procedures to ensure consistent and robust contract management practices.
- Identify and implement process improvement opportunities to enhance the efficiency of IT finance processes.
- Work collaboratively with IT leadership and senior business and corporate financial leaders to provide transparency into financial results.
- Analyze financial risks and opportunities, developing reporting and recommendations to impact overall financial results and objectives.
- Work effectively with IT leadership teams, overseeing the complete financial budget(s), forecasts, and financial performance for the area.
- Provide guidance to stakeholders in achieving financial objectives.
- Convert detailed financial data into understandable reporting summaries, analysis, insights, and actionable recommendations for IT Leadership.
- Manage the quarterly forecast process and annual budget plan to support strategic business imperatives.
- Respond to financial inquiries by gathering, analyzing, summarizing, and interpreting data for IT business leaders.
Requirements
- Proven experience in financial management and contract administration, preferably in an IT environment.
- Strong analytical skills with the ability to conduct variance analysis and financial forecasting.
- Experience in project-based financial analysis and modeling.
- Ability to prepare and submit business cases for financial investments.
- Excellent communication skills to effectively collaborate with IT leadership and other stakeholders.
- Strong organizational skills to manage multiple contracts and financial processes simultaneously.
- Proficiency in generating reports and data analysis to support decision-making.
Nice-to-haves
- Experience with healthcare IT financial management is a plus.
- Familiarity with contract management software and tools.
- Knowledge of budgeting and forecasting software.
Benefits
- Supportive work culture
- Medical, Vision and Dental Coverage
- Retirement Plans, Health Savings Account, and Flexible Spending Account
- Instant pay is available for qualifying positions
- Paid Time Off Accrual Bank
- Opportunities for growth and advancement
- Tuition assistance/reimbursement
- Excellent pay differentials on qualifying positions (extra pay for working evening, nights or weekends)
- Flexible scheduling
