Director, Budget & Analysis

Department: MED-Office of Finance & Admin
Salary/Grade: EXS/12

Job Summary:

Under the direction of the Executive Director, Finance, the Director of Budget and Analysis is responsible for financial analysis and budget development in the Feinberg School of Medicine. This position will supervise, lead and direct analytical staff in financial planning, reporting, performance monitoring, budgeting, and special modeling and analysis. The Director will also be a key advisor to the Vice Dean for Finance & Administration on financial policy and strategic direction setting for the School.

Feinberg School of Medicine is part of Northwestern University. Approximately 3,200 students and trainees are enrolled pursuing M.D., Ph.D., or other degrees or participating in clinical and research training. Nearly 5,000 faculty conduct research, provide patient care, and educate students. Approximately 2,500 staff members support the faculty in these activities. The annual operating budget of the Medical School, including affiliated faculty medical practice groups exceeds $1 billion. Endowments with a market value of over $3.0 billion support the medical school's mission.

Specific Responsibilities:

Budget

• Manages comprehensive budget model for the school. Budget structure may require "stand-alone" financial health to not only ensure that the school/department can financially support its strategic plan but also requires providing financial and strategic support to strengthen and enhance the University's reputation. Responsibility includes supporting and managing the Cognos TM1 enterprise system for budget planning and EDW/PowerBI.
• Develops and manages the completion of the Feinberg School of Medicine's annual budget. Leads the school's annual budget process, partnering with ~40 departments, centers, and institutes across the school. Recommends budget parameters to Dean and executive team for administrative and finance units based upon those provided by the Budget Office and input from affiliate partners. Reviews and partners with senior level management from all divisions/units to finalize proposed budgets ensuring compliance with established budget parameters as well a consolidated school/department balanced budget.

Analysis, Statements, & Reporting

• Performs special analyses on a variety of financial drivers for the Feinberg School of Medicine. Examples include: grant performance, tuition sensitivities, and fundraising. Provides presentation materials for a variety of audiences (faculty, staff, senior leadership) regarding the School's finances.
• Prepares consolidated financial statement to report final net position; & partners with Budget Office to provide variances from expected performance.
• Manages the development, preparation and maintenance of analytical financial tools used to measure the individual net financial performance of all divisions/areas as well as the consolidated school/department income statement and balance sheet for the Dean. Establishes proper accounting and audit trail for revenue and expenses related to programs and initiatives that cross departments and schools. Develops dashboard reporting metrics to measure the financial health and performance of division/areas. Partners with Feinberg departments and units on their financial challenges and issues, to ensure alignment with the Dean's Office and financial health across the School.

Supervision

• Directs supervision of analytical staff including performance management, training, recruitment, problem resolution, motivating to achieve peak productivity and performance and managing /coordinating workflow and prioritization of assignments. Assesses analytical team on an on-going basis and initiates the implementation of best practices including workflow design, process improvements and documentation of standard operating procedures.

Long Range Financial Plan

• Manages the seven-year long range financial plan, including complex budget(s) which fund strategic mission including financial sustainability & enhancement models. Budget structure requires "stand-alone" financial health to not only ensure that school/dept can financially support its strategic plan but also requires providing financial & strategic support to strengthen & enhance the University's reputation.
• Plans & implements annual process to update the long-range financial plan including fiscal resource allocation of appropriated, discretionary, endowment, gift &/or grant revenues.
• Coordinates with University and clinical affiliates to ensure alignment of financial assumptions across organizations. Develops & recommends budget parameters to School leadership in alignment with the long-range financial plan, as well as more restrictive parameters that may be required per a comprehensive understanding of school/dept's financial position & forecasting model.

Miscellaneous

Performs other duties as assigned.

Minimum Qualifications: (Education, experience, and any other certifications or clearances)

• Bachelor's degree in accounting, business or finance and 7 years of budget and financial analysis experience, preferably in an academic medical center setting. Or equivalent combination of education and experience in which comparable skills are developed.
• At least 5 years of experience developing financial reporting and analysis tools highly desirable. Prior University financial experience is highly desired.
• At least 3 years of management responsibility, including all aspects of management from recruiting to goal setting and performance management.

Minimum Competencies: (Skills, knowledge, and abilities.)

• COMP - Must be experienced with computer databases, Microsoft Power Point, Microsoft Excel, and Microsoft Word.
• Prior experiences extracting data from enterprise financial systems.
• General knowledge of accounting principles and procedures.

Preferred Qualifications: (Education and experience)

• A master's degree in business administration or a related field.
• A Certified Public Accountant designation
• Not-for-profit health care or university financial experience.

Preferred Competencies: (Skills, knowledge, and abilities)

• Prior experience developing and managing complex financial models

Target hiring range for this position will be between $110,260 to $160,000 per year. Offered salary will be determined by the applicant's education, experience, knowledge, skills and abilities, as well as internal equity and alignment with market data.

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