A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.
Reporting to the Chief Financial Officer (CFO) of Michigan Medicine, the Associate Chief Financial Officer – UMMG (ACFO) is a member of the UMMG leadership team and the health system’s financial leadership team. The ACFO, partnering with the Executive Director Ambulatory Care Services (ED) and Chief Clinical Officer UMMG (CCO), has responsibility for all financial activities and communication of financial outcomes and measures for the UMMG, ensures financial integrity and establishes financial expectations. The ACFO will be a strategic financial adviser to the UMMG leadership team and to the CFO and will partner with the leadership team to execute the UMMG’s operational and strategic initiatives.
The ACFO will work with central Finance, Revenue Cycle, Procurement, Human Resources, HIM and other functional areas to ensure analytic, operational and structural attributes are appropriately measured and reported. The ACFO will also work with these functions to resolve matters that are integral to the financial success of the UMMG.
The Michigan Medicine CFO will periodically assign broader responsibilities to this role. Currently the assignment includes direct responsibility for operational implementation of the Cost Management system.
Reports directly to the CFO of Michigan Medicine
Partners with the ED and CCO to ensure financial integrity and to achieve financial expectations for the UMMG
Partners with the leadership team to execute the UMMG’s strategic initiatives
Works with other functional leaders that support the capture, classification and reporting of financial measure
Interfaces with the Controller to identify analytic and accounting resource needs as managed by the Controller’s Office
Interpret monthly financial results for the leadership team and identify opportunities to improve performance
Lead implementation of value and margin initiatives related to finance activities and as identified by the CFO
Establish processes by which strategic objectives and plans are developed and integrated into financial planning, and ensure that Michigan Medicine’s financial, capital, and operational resources are deployed with integrity and aligned with the strategic goals of Michigan Medicine
In cooperation with the Controller’s office, responsible for total financial performance, financial reporting package oversight, managerial financial package oversight, forecasting/budgeting, financial planning and analysis, short term and long range performance, capital and other key financial specific processes
Ensure integrity of financial reporting system and develop management reporting tools that provide insightful analysis to enable leaders and managers to make effective business decisions. Play a central role in developing the business analytics in support for Michigan Medicine activities
Communicate key performance indicators and information to leadership and key constituents
Works in conjunction with the ED and CCO in:
Planning of activity and staffing projections
Determining the need for and allocation of human, space, fiscal and material resources
Implementing and monitoring operating and capital budgets; and executing corrective action plans to resolve variances
Developing, implementing and evaluating value and margin improvement initiatives
Directly manage analysts’ time assigned to UMMG projects
Provide input to Controller’s Office regarding staff planning and resource needs
Directly manage, in partnership with department leadership, embedded ACS finance staff
Lead recruitment of embedded ACS finance staff to ensure consistency of skills acquired
Work with embedded finance staff to ensure consistency in delivery of financial services to their departments
Actively monitor and mentor embedded finance staff professional development
Work collaboratively with finance leadership for broader integration efforts across all Michigan Medicine finance professionals, including engagement, professional development and rotational opportunities
Support ED and CCO in establishing, monitoring and implementing Michigan Medicine and UMMG goals and priorities
Define and report on financial goals for the UMMG
Define and develop implementation plans for goals that are off-track
Establish margin improvement opportunities and work with clinical leadership to execute improvements
Actively participate in performance planning, competency and individual development
Attend competency training as defined together with the CFO
Participate in mentoring programs for staff
Model Michigan Medicine’s institutional values. Build collaborative relationships and promote a culture of teamwork, service, and excellence
A Certified Public Accountant or master’s degree in finance, business administration, health administration, accounting, or related field or equivalent combination of education and experience
Experience and Abilities
Progressive experience leading finance functions within a complex, growing health care organization. Individuals with experience in an academic medical center, higher education setting, major teaching hospital and multi-hospital system will be strongly valued
A track record of driving strategic resource planning and budgeting, operations and risk management, and developing decision support analytics and systems to support these activities
A strong business orientation with the ability to “go beyond the numbers” in helping the senior executive team identify and develop opportunities to strengthen the financial performance, and continue to shape a top-tier institution for the future
A proven leader of people who is able to recruit, develop and mentor a top-notch financial team capable of supporting future growth
Ability to engage with colleagues and lead change using a collaborative, diplomatic style and strong communication skills
Ability to gather, validate and evaluate data and relevant metrics to develop proposals and recommendations
Achieve trusted adviser status with the leadership team, university leadership and all key stakeholders. Be collegial and open; honest and straight-forward; and have the confidence to operate successfully in a faculty and clinician-driven culture
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.
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. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.
The University of Michigan is an equal opportunity/affirmative action employer.
Internal Number: 160112
About University of Michigan - Ann Arbor
A great university is made so by its faculty and staff, and Michigan is recognized as one of the best universities to work for in the country. The Michigan culture is known for engaging faculty and staff in all facets of the university to create a workplace that is vibrant and stimulating.For two consecutive years, the Chronicle of Higher Education has placed U-M in its "Great Colleges to Work For" survey. In particular, the university earns high marks for strong relations between faculty and administrators, a collaborative system of governance, strong pay and benefits, and a healthy work/life balance.