Sr. Director of Financial Planning and Analysis

OverviewThe Michigan Medicine Health System Senior Director of Financial Planning and Analysis (SD FPA) is responsible for coordinating and overseeing the annual operating and capital budgeting processes, developing and maintaining the multi-year intermediate and long-term strategic financial frameworks, managing the financial aspects of business plans, and performing various economic and financial analyses for the clinical enterprises, which are the Academic Medical Center (AMC) in Ann Arbor and the hospitals and clinics of the Regional Health Network. The SD FPA manages clinical performance external benchmarking data and analytical reporting (Vizient), managerial and cost accounting functions, and internal financial reporting. The SD FPA provides financial analysis services to operating segments and units, working through the Associate Chief Financial Officers (ACFOs) and Vice Presidents of Finance (VPF), Chief of Revenue Cycle, Chief of Contracting and Managed Care, and the Senior Director of Reimbursement. Reporting to the Michigan Medicine Chief Financial Officer (MM CFO), the SD FPA serves as a member of the Finance executive management team.Primary Roles and ResponsibilitiesAs the principal financial planning and analysis leader of Michigan Medicine/'s clinical enterprises, the SD FPA performs the following responsibilities:Overseeing the annual operating and capital budgeting processes for the AMC and Regional Health Network, coordinating the efforts of the ACFOs and VPFs, managing the fundamental assumptions behind the financial planning including patient volume trends, maintaining the budgeting systems, and consolidating reporting. The SD FPA manages budgeting processes through frequent, consistent, and clear communications to eliminate confusion and prevent faulty assumptions. The SD FPA also coordinates with the School of Medicine and the University as necessary during the operating and capital budgeting processes.Developing and maintaining the multi-year intermediate and long-term strategic financial framework. Creating and updating a multivariate quantitative model to generate a multi-year financial forecasting tool to generate the strategic financial framework. Building flexibility in the tool to produce forecasts using different scenarios. Working with the Chief of Contracting and Managed Care and Senior Director of Reimbursement to update the model and tool with changes in reimbursement rates and policies. Working with the Strategy Office to ensure the model and tool contains the business assumptions for new initiatives and ventures. Working with the ACFOs and VPFs to maintain expected patient volume and productivity assumptions, facility capacities and patient throughput rates, and new patient expectations.Generating financial pro-formas for business plans, working through the ACFOs, VPFs, operations leaders, and the Strategy Office. The SD FPA is the data source for devising economic models that assess new initiatives and ventures and establish financial performance expectations. These models use market information, benchmarking data, figures from the general ledger and revenue cycle systems, and standard templates to determine internal rates of return, returns on investment, and payback periods. The SD FPA supports the ACFOs and VPFs and verifies figures with the Chief Accounting Officer, the Chief of Revenue Cycle, the Chief of Contracting and Managed Care, and the Senior Director of Reimbursement.Producing routine financial statements and analyses following managerial accounting standards that offer insight into monthly clinical operations. The reporting includes external benchmarking, trending, and ratio analysis measuring variances to budget, performance improvement or decline, and productivity. The SD FPA contributes reporting and analysis to the monthly financial close process and review.Leading initiatives that have significant impacts on the financial processes of the Health System (consolidating financial planning and analysis into a central corporate service, and serving as a team-member to design, test, build, and implement an Enterprise Resource Planning System).Managing personnel through direct reporting relationships or through influence, ensuring best practices from the reporting, cost accounting, and analysis staff and productive relations with the University. Managing staff across multiple geographies and employers.Other ResponsibilitiesBuild strong, positive relationships with key administrative and clinical leaders throughout Michigan Medicine and the University, firmly establishing trust and credibility.Ensure that Michigan Medicine/'s resources are deployed with integrity and aligned with the goals of the clinical and academic enterprises.Act as a senior partner in the analysis and due diligence of existing business entities relative to restructuring, acquisitions, and/or divestitures to meet strategic objectives.Ensure integrity of financial reporting systems and develop management reporting tools to enable leaders to make effective business decisions.Build productive relationships and promote a collaborative work environment.Recruit, select and manage a staff of direct and indirect reports by professional leadership, mentoring, counseling, reorganization, and other personnel management initiatives. Set job expectations and performance standards for team members which contribute to the overall success of Michigan Medicine. Coach and mentor direct reports and others to ensure individual and organizational effectiveness.EducationThe SD FPA is required to hold a Bachelor/'s degree in economics, business or public administration, finance, health administration, public health, health economics, or related field from an accredited institution of higher education. A Master/'s degree in similar disciplines is preferred.ExperienceThe SD FRA possesses:A minimum of 10 years of successful, progressive experience leading a finance, budgeting, and/or analytics function within the health care industry (experience with academic health systems or affiliates preferred).Experience with multi-year forecasting, predictive modeling, and business planning for a complex, multi-hospital, and geographically dispersed clinical enterprise.Exposure to scaling financial planning and analysis processes and systems in response to hospital or health system acquisitions, mergers, partnerships, affiliations, and joint ventures.Experience with analytics involving various reimbursement models (bundled payments, risk contracting, capitation).Notable communication skills with a track-record of successful coordination of multi-participant budgeting and planning processes. Strong executive presentation skills, including the ability to influence, negotiate and communicate effectively at all levels. A collaborative leadership style through direct, open, and honest communications.A strong business orientation with the ability to "go beyond the numbers" in helping the senior executive team identify and develop opportunities for optimizing assets and strengthening the organization/'s financial performance.An ability to be highly strategic, agile, and able to handle complex business and issues.Solid expertise building a financial team that has its eye on the future and is responsive to its constituencies.A history of success working with multiple constituencies and within layered governance structures.Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.Michigan Medicine improves the health of patients, populations and communities through excellence in education, patient care, community service, research and technology development, and through leadership activities in Michigan, nationally and internationally. Our mission is guided by our Strategic Principles and has three critical components; patient care, education and research that together enhance our contribution to society.Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled anytime after the minimum posting period has ended.The University of Michigan is an equal employment opportunity employer. #J-18808-Ljbffr

Created: 2025-09-22