UNIV - Financial Analyst - Department of Medicine: Division of Hospital Medicine

Medical University of South Carolina - Charleston, SC

Full-time

Charleston, SC

Educational Services

About the position

The Financial Analyst in the Department of Medicine will play a critical role in providing financial analysis, reporting, and strategic support to ensure the efficient operation of assigned divisions. This position will collaborate closely with department and divisional leadership, faculty, and administrative staff to optimize financial performance, manage budgets, and support decision-making processes. The analyst will conduct in-depth financial analysis to assess the assigned division's financial performance, identify trends, and forecast future financial outcomes. Regular financial reports will be prepared, including budget variance analysis, revenue projections, and expenditure tracking, to support decision-making by division leadership and faculty. Additionally, the analyst will assist in the development of financial models and scenarios to evaluate the financial impact of various initiatives, projects, and strategic plans. In terms of budget management, the Financial Analyst will work closely with the leadership of assigned divisions to develop, monitor, and manage annual operating budgets, ensuring alignment with strategic priorities and resource allocation. Guidance and support will be provided to division administrators and faculty regarding budgetary matters, including expense tracking, budget reallocations, and cost-saving opportunities. The analyst will monitor budget performance regularly and provide recommendations for corrective actions as needed to ensure budgetary compliance and financial sustainability. Furthermore, the analyst will oversee the personnel effort and funding for faculty, staff, research grant staff, post docs, and temporary employees in assigned divisions. The role also involves grants and contracts management, where the analyst will collaborate with research administration pre-award and clinical trial staff to facilitate the financial management of grants, contracts, and other sponsored projects within assigned divisions. Assistance will be provided to faculty members in preparing grant budgets, financial reports, and compliance documentation in accordance with sponsor requirements and university policies. Ensuring timely invoicing, financial reporting, and reconciliation of grant expenditures will be crucial to maximize funding utilization and maintain grant compliance. Lastly, the Financial Analyst will support division leadership in long-term financial planning, including revenue forecasting, expense projections, and resource allocation strategies to support divisional growth and sustainability. Participation in strategic planning initiatives will be expected, providing financial insights and analysis to inform decision-making and resource allocation priorities. The analyst will collaborate with the Division Administrator to identify opportunities for process improvements and efficiency enhancements in financial operations, systems, and procedures within the divisions.

Responsibilities

• Conduct in-depth financial analysis to assess assigned division's financial performance, identify trends, and forecast future financial outcomes.
• Prepare regular financial reports, including budget variance analysis, revenue projections, and expenditure tracking, to support decision-making by division leadership and faculty.
• Assist in the development of financial models and scenarios to evaluate the financial impact of various initiatives, projects, and strategic plans.
• Work closely with the leadership of assigned divisions to develop, monitor, and manage annual operating budgets, ensuring alignment with strategic priorities and resource allocation.
• Provide guidance and support to division administrators and faculty regarding budgetary matters, including expense tracking, budget reallocations, and cost-saving opportunities.
• Monitor budget performance regularly and provide recommendations for corrective actions as needed to ensure budgetary compliance and financial sustainability.
• Monitor billing and collections of all external contracts.
• Complete and coordinate financial reports including: quarterly effort/activity reports, quarterly PI reports, and monthly budget-to-actual reports.
• Oversee the personnel effort and funding for faculty, staff, research grant staff, post docs, and temporary employees in assigned Divisions.
• Collaborate with research administration pre-award and clinical trial staff to facilitate the financial management of grants, contracts, and other sponsored projects within assigned divisions.
• Assist faculty members in preparing grant budgets, financial reports, and compliance documentation in accordance with sponsor requirements and university policies.
• Ensure timely invoicing, financial reporting, and reconciliation of grant expenditures to maximize funding utilization and maintain grant compliance.
• Support division leadership in long-term financial planning, including revenue forecasting, expense projections, and resource allocation strategies to support divisional growth and sustainability.
• Participate in strategic planning initiatives, providing financial insights and analysis to inform decision-making and resource allocation priorities.
• Collaborate with the Division Administrator to identify opportunities for process improvements and efficiency enhancements in financial operations, systems, and procedures within the divisions.

Requirements

• A bachelor's degree in a related area such as accounting, auditing, finance or commercial lending.
• Four years of professional experience in a related area.
• A job-related bachelor's degree with multiple accounting courses may be substituted for two years of the required work experience.
• Proficiency in Microsoft Excel; experience with enterprise financial systems (e.g., WorkDay and Axiom) is a plus.
• Strong analytical skills with the ability to interpret complex financial data, identify trends, and develop actionable insights.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with diverse stakeholders and communicate financial information clearly and concisely.
• Demonstrated ability to prioritize tasks, meet deadlines, and work independently in a fast-paced environment.

Nice-to-haves

• Experience with enterprise financial systems (e.g., WorkDay and Axiom).
• Strong analytical skills with the ability to interpret complex financial data.
• Excellent communication and interpersonal skills.