Budget Analyst

Responsibilities:

• Assist in managing the activities surrounding the development of the annual operating budget. Develop revenue, expense, and capital budget assumptions. Develop and update annual financial projections.
• Create and maintain financial reports via Hyperion; understand and manage hierarchies to ensure effective reporting and data analysis.
• Review monthly financial statements. Identify, interpret, research, and explain monthly variances.
• Respond to requests from internal and external clients; work collaboratively with varying levels of the organization.
• Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
• Direct the preparation of regular and special budget reports.
• Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
• Seek new ways to improve efficiency and increase profits.
• Review operating budgets to analyze trends affecting budget needs.
• Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
• Perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
• Assist in implementing the use of budget software directly by Operations staff (practice managers & Directors of Operations), including training and web form creation.
• Prepare ROI and pro-forma analyses as directed by Operations with guidance from the Associate Director, FP&A.
• Performs duties in accordance with Penn Medicine and entity values, policies, and procedures.
• Other duties as assigned to support the unit, department, entity, and health system organization.

Education/Experience:

• Bachelor's degree (Required); preferably in Finance, Accounting, or Business Administration.
• Master's degree (Preferred); preferably in Business Administration, Finance, Accounting or CPA
• 5+ years of relevant experience (Required); preferably in a financial management position with a thorough knowledge of healthcare accounting.

Skills & Abilities:

• Able to translate complex information into simple explanations
• Demonstrated interpersonal/verbal communication skills
• Ability to effectively present information and respond to questions from others
• Strong quantitative and analytical abilities
• Strong understanding of accounting and reporting for physician practices including clinical, research, and academic services.
• Possess proven judgment, communication, and interpersonal skills.
• Successful track record of dealing with complex, and at times, ambiguous situations in a changing environment.
• Proficient computer skills (spreadsheets, databases, project management, presentation and word processing software).