Financial Analyst

SCOPE OF POSITION:

Accountable for preparing and analyzing a range of financial and statistical reports for management, as well as internal and external stakeholders. Additionally, contribute to various special projects as assigned.

RESPONSIBILITIES:

• Prepare, analyze, and present financial reports, including income statements, balance sheets, and cash flow statements, ensuring accuracy and timeliness.
• Conduct detailed financial analysis to assess hospital performance, including cost analysis, revenue forecasting, and variance analysis.
• Prepare and analyze a variety of financial and statistical reports on a daily, weekly, monthly, and quarterly basis.
• Support the budgeting and forecasting processes, providing insights into revenue projections, expenditure trends, and financial planning.
• Collaborate with department heads to monitor and manage departmental budgets, ensuring financial targets are met and cost control measures are in place.
• Analyze patient volume, payer mix, and reimbursement data to support financial planning and decision-making.
• Assist with the preparation of monthly, quarterly, and annual financial reports for senior management and regulatory authorities.
• Evaluate hospital financial data in relation to industry standards and benchmarks to ensure financial efficiency and effectiveness.
• Maintain and improve financial systems and processes, ensuring accurate and reliable data for financial decision-making.
• Support special projects such as cost-saving initiatives, capital expenditure analysis, and strategic financial planning.
• Stay updated on healthcare industry financial trends, reimbursement models, and regulatory changes to provide valuable insights to management.
• Perform all other duties as assigned.

REQUIREMENTS:

• Bachelor’s degree in Accounting or Finance related field required

• 2-3 years of experience in finance / accounting / analytical field.

• Excellent verbal and written communications skills. Excellent interpersonal skills with the ability to relate well, communicate effectively, and interact with all levels of management, employees and outsiders.

• The ability to work independently and meet crucial deadlines.
• Must have basic computer skills and ability to access internet and other programs applicable to Waterbury Hospital procedures.
• Advanced computer skills required, particularly in Microsoft Excel.

• Ability to multitask.

• Strong analytical and interpretive skills.