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Posted: 11-Nov-24
Location: Durham, North Carolina
Salary: Open
Categories:
Internal Number: 249635
Duke Health Integrated Practice is an exceptional, multi-specialty physician practice encompassing 140 clinics across North Carolina. We attract and retain premier medical professionals with competitive compensation, benefits, and a nurturing work atmosphere that unites passion and purpose.
Learn more about us: https://dhip.dukehealth.org/about-us
JOB LOCATION
Duke Medical Center - Baker House
JOB SUMMARY
We are seeking a highly skilled and experienced Strategic Services Asssociate with a specialized focus on clinical healthcare operations (Departmental DHIP), advanced analytical techniques, and leveraging technology to drive financial insights. The ideal candidate will possess a deep understanding of financial principles combined with advanced proficiency in data analysis, modeling, and technology tools, including in-house payroll systems. This role will play a critical part in providing strategic financial guidance to management and supporting key initiatives within our clinical healthcare entity.
JOB DUTIES AND RESPONSIBILITIES
- Financial Analysis and Reporting:
- Conduct in-depth financial analysis tailored to clinical healthcare operations to support strategic decision-making and optimize financial performance for Departmental DHIP needs, including revenue forecasting, expense management, variance analysis, and payroll cost analysis.
- Prepare comprehensive financial reports and presentations for management, highlighting key insights, trends, and recommendations specific to Departmental DHIP operations.
- Prepare consolidated financial statements from multiple departmental missions and entities, including presentation at a Service-Line level.
- Technology Integration:
- Identify opportunities to leverage technology solutions and automation to enhance payroll processes, improving efficiency, accuracy, and compliance.
- Stay abreast of emerging technologies and best practices in financial analytics, proactively seeking opportunities for innovation and improvement.
- Streamline DHIP/SOM financial data for departmental reporting on faculty productivity.
- Data Management and Analysis for Healthcare Finance:
- Design and implement robust data management processes for financial- and payroll-related data, ensuring accuracy and integrity.
- Leverage advanced data analytics tools and techniques to extract actionable insights from datasets, supporting informed decision-making by clinical and administrative leadership.
- Optimize divisional productivity and cFTE reports need for DHIP analysis
Payroll Systems Management:
Develop and optimize departmental payroll system within a clinical healthcare environment to meet new DHIP compensation structures, ensuring accuracy, efficiency, and compliance with regulatory requirements.
Collaborate with HR and IT teams to implement system enhancements, upgrades, and integrations to streamline payroll workflow, including automated faculty pay statements, effort allocations, and annual compensation reports
Budgeting and Forecasting:
Assist in the development and maintenance of Departmental DHIP budgets (including Divisional breakdown and sub-units) and forecasts for faculty payroll and clinical operations, collaborating with management and HR teams to ensure alignment with strategic objectives.
Utilize advanced forecasting techniques and modeling tools to provide accurate and insightful financial projections.
Strategic Planning and Decision Support:
Collaborate with cross-functional teams to provide financial guidance and support for strategic initiatives, investments, and business development opportunities.
Conduct scenario analysis and sensitivity testing to evaluate the potential impact of payroll-related decisions on financial performance.
Risk Management and Compliance:
Assess financial and payroll-related risks and opportunities, developing strategies to mitigate risks while optimizing financial performance.
Ensure compliance with regulatory requirements and internal policies related to financial management, payroll processing, and reporting.
KNOWLEDGE, SKILLS AND ABILITIES
- Advanced proficiency in financial modeling, statistical analysis, and data visualization tools (e.g., Excel, Tableau)
- Excellent analytical, communication, and problem-solving skills, with the ability to translate complex financial data for diverse stakeholders.
- Strong understanding of accounting principles, financial statements, and financial planning concepts, including revenue cycle management, cost accounting, and reimbursement methodologies
- Prior experience in SAP and Axiom software
- Demonstrated ability to thrive in a fast-paced, dynamic environment, managing multiple priorities and deadlines while maintaining a high level of accuracy and attention to detail.
JOB ELIGIBILITY REQUIREMENTS
- Bachelors degree in a business or health-related field is required. MBA preferred.
Minimum of 5 years work experience, including 3 years of experience with significant responsibility for performance/ process improvement. Experience leading work teams required.
Experience can be supplemented with Master's degree with a Masters being equivalent to two years of experience.
Preferred: Proven experience as a financial analyst within the healthcare industry, with a focus on leveraging technology and data analytics to drive financial insights.
Preferred: Experience with payroll systems administration and optimization, including knowledge of relevant regulations and compliance requirements
Preferred: relevant professional certification (e.g. CPA)
Some roles within our organization may encompass essential job functions requiring distinct physical and/or mental capabilities. Further details and accommodation requests will be addressed by individual hiring departments.
Duke Health Integrated Practice is dedicated to Equal Opportunity Employment, fostering a diverse workforce without regard to age, color, disability, gender, gender expression, gender identity, genetic information, national origin, race, religion, sex, sexual orientation, or veteran status.
We aspire to build a community grounded in collaboration, innovation, creativity, and belonging. Our shared achievements rely on a dynamic exchange of ideas, flourishing best when a multitude of perspectives, backgrounds, and experiences thrive. Upholding these values is a collective responsibility within our community.
This job description aims to outline representative responsibilities for this title, not an exhaustive account of specific duties. Employees may be assigned job-related tasks beyond those explicitly outlined here.