Director of Finance - Academic Enterprise

Summary:

The Director of Finance - Academic Enterprise (AE), provides leadership and directs day to day financial management activities for the Academic Enterprise, including ensuring the accuracy of financial transactions and reporting. This position is responsible for developing and leading a team with accountability for on-going AE unit performance review by identifying and communicating key variances from budgets and forecasts, comparing key metrics to benchmark data, and using other analytics as appropriate.  The individual filling this role must have a deep understanding of financial relationships and the ability to interpret trends that inform management decision-making.

This position will work closely with members of the Business and Finance (B&F) Leadership Team as well as operational leadership of the AE Departments and Schools to identify performance issues and recommend corrective actions. This position will be responsible for reviewing monthly financial performance and for providing budget and prior year variance analysis as well as ensuring close collaboration with the Decision Support team to prepare the annual operating budget, forecasts and for delivering reports and presentations to the AE Executive Leadership Team, and to UTMB Executive Leadership.  The individual filing this role will develop collaborative, detailed working relationships with academic enterprise school and department leadership, assisting them in all financial aspects of their respective areas.

Responsibilities:

Technical Performance

• Monitors monthly financial performance as compared to plan; prepares and presents analysis that explains variances and proposes corrective action.

• Reviews financial information and identifies developing trends that inform forecasts and management for decision making purposes.

• Collaborates with B&F Decision Support to develop assumptions, which will inform financial forecasts and the six-year financial forecast submitted annually with the State Operating Budget.

• Assist with development and maintenance of metrics and comparisons to benchmarks.

• Assist in the development of technology and best practices to ensure continuous process improvement.

• Ensures adherence to timelines for key deliverables to support preparation of the State and Institutional operating budgets.

• Works with the VP, Academic Finance and  AE leadership, and AE Department and School Business Teams to determine mission-level financial targets and the underlying allocation to departments.

• On behalf of the Provost Office, primary responsibility for the financial accuracy of faculty commitments and backstops, as well as documentation, implementation, reconciliation and communication with other stakeholders in the AE.

• Supports the Faculty New Hire process coordinating with the AE Leadership and Workforce Operations to ensure faculty commitments and backstops are documented, implemented, reconciled and communicated.

• Coordinate completion and review of financial plans and operating budget of University Service Centers and University Cores and prepares annual Service Center profitability analysis per IHOP 4.5.

• Work closely with the VP, Academic Finance, AE Chief of Staff and VP, Chief Administrative Officer to review the appropriateness of faculty commitment forecasts and budgets.

• Supports the capital budget process in conjunction with the VP, Academic Finance, AE Capital Planning and Space Management, and Institutional Support teams.

• Assists in the completion of ad-hoc requests from AE, UTMB or UT System leadership.

• Provides on-going review of budget information presented in financial reports to ensure accurate reporting.

• Advises leadership on current academic medical center industry financial trends and the potential impact on the AE.

• Works with the Corporate Controller to manage the integrity of the AE general ledger.

• Supports AE, B&F and UTMB leadership workgroups and other committees.

• Supports preparation of AE or UT System surveys throughout the year.

• Supports the completion of the annual financial audit, annual financial report, biennial legislative request.

• Partners with Faculty Group Practice Leadership to effectively coordinate completion of departmental goals and objectives.

• Partners with Grants and Contracts Accounting to validate monthly financials and identify upcoming trends impacting AE Financial Performance. 

Administrative and Supervisory

• Provides direct leadership to a team of financial professionals through regular communication, active goal setting, and routine coaching to model and promote behavior that aligns with UTMB’s Core Values.

• Responsible for recruiting, training, development and evaluation of direct reports.

• Organizes and plans work to ensure appropriate prioritization and timely deliverables.

• Provides routine status updates and quickly escalate appropriate issues to leadership when necessary.

• Develops a comprehensive knowledge of the Institution’s accounting and budgeting systems (Oracle, Hyperion/Smartview, EPSI, STRATTA, Crowe-Horwath and related EDW) and keeps up to date with Microsoft Office (Excel, PowerPoint, Word, and Outlook).

• Develops productive relationships with UTMB personnel across campus while accomplishing institutional objectives.

• Performs related duties as assigned. 

Minimum Qualifications:

• Bachelors Degree in Business or related field of study plus ten (10) years of experience related to budgeting and forecasting tools in a large clinical or academic medical center organization to include three (3) years of relevant supervisory experience.

Preferred Qualifications: 

• Masters degree and/or CPA and experience in Academic Medicine.