Neurology Finance Administrator

Finance Administrator

The Finance Administrator consults, advises, leads and assists VCU/VCUHS in providing leadership and direction by performing a combination of the following: financial reporting and management, research management, budget development and monitoring, variance analysis, operations, human resources management, business development and all components of the Department's mission. Provides staff supervision while promoting a diverse, equitable and inclusive culture. Ensures compliance with VCU and VCUHS policies and procedures. The Finance Administrator works closely and in collaboration with different Divisions, Departments, physicians, advanced practice providers, staff, and VCU / VCUHS management and administrative personnel to resolve problems, workflow issues, customer service issues, business plan development, human resource issues and to implement new initiatives, policies, programs, etc. The Finance Administrator maintains current knowledge of all state and federal laws and regulations and University and Health System policies and procedures. The position ensures that clinical operations are properly budgeted, funding sources secured / managed, sound and efficient, educational programs meet regulating body requirements, and all grants and contract awards are implemented. Reporting requirements are conducted in accordance with established University and sponsoring agencies requirements. Reporting to the Department Administrator, the Finance Administrator provides administrative and technical support and leadership to a single Department or multiple Divisions under the auspices of the Department Administrator and/or Division Chair.

The Finance Administrator works closely with division chiefs, division administrators, hospital administration, ambulatory administration/operations and other leaders in the health system, School of Medicine and various other stakeholders (i.e. Medical College of Virginia Foundation (MCVF) Children's Hospital Foundation (CHF)) in the development of business plans to direct the tri-partite mission of Departments involving clinical operations, research and educational strategy development.

Essential Job Functions include but are not limited to:

• Comprehensive management and leadership of fiscal and administrative efforts.
• Develop revenue and expense budgets, including grants, expenses, assets, liabilities and contracts.
• Budget development and implementation.
• Oversight of financial operations: revenues, expenses service agreements, grants, and training activities.
• Review, monitor, and analyze Department's financial and operational performance.
• Process improvement and development.
• Negotiate contracts including developing FMV.
• Oversee and manage department compensation plan.
• Manage reimbursements from philanthropic foundations (MCVF/CHF).
• Building program/service line business plans.
• Human resources management.
• Manage regulatory compliance.
• Work within University guidelines and policies to manage and administer research grants and government contracts.
• Operationalizing institution's compensation plan for physician workforce.
• Development of financial models, operational dashboards and ad hoc reporting requests.

Financial Management:

Maintains financial controls for all sources of funds to ensure solvency and compliance with University, Health System and various foundations policies as well as accounting regulations dictated by state and federal law. Oversees all financial aspects of the department (s) to include travel, accounts receivable, internal/external contracts and purchasing.

Duties include but not limited to:

• Prepares financial statement and reports.
• Presents financial reports to the Department Chair, Administrator, Division Chiefs and finance stakeholders in VCUHS/VCU.
• Collaborates with division leadership to implement an equitable and financially sound operating budget.
• Works closely with division leadership and providers in tracking provider productivity.
• Works with MCVP Compensation group on physician compensation.
• Utilize various benchmarking applications to report/recommend compensation and productivity percentiles.
• Reconciles all accounts and research and resolves/explains variances.
• Assists with the development and maintenance of divisional operating budget using the requisite financial accounting systems.
• Monitors expenditures and revenue.
• Performs statistical analysis for forecasting.
• Assists with long range financial planning and projection of revenue and expenditures.
• Collaborates with internal and/or external third-party partners in the equitable and effective management of the revenue cycle operations.
• Works with providers to ensure appropriate documentation for clinical activity is consistent with MCVP and Compliance Services policies.
• Establishes and monitors internal controls of divisional administrative staff as it relates to financial affairs.
• Assists ambulatory and inpatient teams, as needed and appropriate, in the development of business plans to maintain clinic capacity, expansion, and capital requests.
• Network with peer institutions to identify areas of opportunity.

Clinical Operations:

Works with division chiefs and ambulatory leadership to optimize the physician and advanced practice provider practice, including both outpatient and inpatient.

Duties include but not limited to:

• Develops business plans to increase outreach and grow market share.
• Collaborates with ambulatory, procedural, and inpatient clinical leadership to identify opportunities to increase efficiency and effectiveness of clinical practice.
• Responsible for analyzing provider schedules working with ambulatory, procedural, and inpatient teams to ensure appropriate clinical coverage and optimizing schedules for providers to meet established productivity benchmarks.
• Works with respective program directors to manage GME budget.
• Promotes and assists in departmental marketing efforts.
• Utilizing appropriate benchmarks, ie AAAP, AAMC, Vizient, etc., to ensure compensation correlates to productivity benchmarks.
• Partners with Revenue Cycle team to identify areas of coding optimization.
• Partners with Hospital, Ambulatory, Central and School of Medicine on clinical operation needs.

Human Resources Management:

Manages, supervises, and directs assigned administrative and support staff to include determining staffing needs, recruitment, hiring, work assignments, completing and providing input on performance evaluations, disciplinary/corrective action and employee training and development. Collaborates with VCUHS Human Resources and the HR Business Advisory team to assist in the design, develop, and implement equitable and inclusive strategic and operational human resource management practices for the division /department.

Participates in faculty and advance practice provider recruitment for the Department which includes developing pro-forma to assess financial and program impact of new faculty and services.

Other duties include but are not limited to:

• Communicates with providers and divisional staff to ensure all remain up to date on current health system policies, prepares and handles all related HR paperwork and documents.
• Ensures responsibility and visible commitment of diversity equity and inclusion programs/initiatives through collaboration and implementation of initiatives across the health system.
• Responsible for oversight and compliance for education programs in the specialty for which the Division administrator oversees.
• Development of business plan for Divisional leadership recruitment.

Research Administration:

Directs and oversees contract and grant acquisition, written proposals, budget preparation and administration and monitoring of funds to ensure university, state and federal requirements and regulations are met.

Administers activities that are necessary to the application and management of grant programs focusing on the fiscal and operational aspects. Oversees the administration of expenses charged to grants for appropriateness and confirms that funding is budgeted, and expense is allowable.

Other duties include but are not limited to:

• Serves as Effort Reporting coordinator for the divisions.
• Serves as a liaison to internal and external contacts with PIs, research coordinators, sponsoring agencies, Grants and Contracts Accounting, Office of Research, Office of Sponsored Programs, Purchasing, Accounts Payable, etc. to obtain and manage grants.
• Works with research team to ensure compliance with local, federal and international guidelines regarding conduct of human research.
• Analyzes and reviews grant proposals for compliance with agency and VCU requirements.
• Interprets sponsor programs and advises PI(s), VCU and sponsoring agencies regarding stipulations and the administration of grants.
• Oversees submission of regulatory information to institutional Review Board for new and existing clinical trials.
• Enters negotiations with sponsors (e.g., NIH, pharmaceutical industry, foundations) for budgets and monitors expenses by reviewing and approving all system(s) to track expenditures.
• Maintains knowledge of computer systems used to support research.
• Monitors and works closely with School of Medicine finance with cost shares.
• Primary leader in tracking foundation awards for programmatic development.
• Budget, monitor and analyze variances for foundation grants.
• Primary superuser for organizational budget applications (ie Strata and Anaplan).

Productivity & Compensation Plan Oversight:

Works with Division Administrators and department providers in tracking productivity and incentive payments. Collaborates with the MCVP's compensation team to address compensation requests.

Assists with productivity analysis and accountability of