Funds Flow - Senior Accountant
Job ID: 184034
Category: Accounting/Finance
Work Type: FT
Location: Philadelphia, PA, United States
Date Posted: May 22, 2023
Work Schedule: Full Time
Description
Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?
Funds Flow- Senior Accountant
HUP ACCTG - Controller
3400 Spruce Street
Summary:
The Funds Flow- Senior Accountant is responsible for assessment and review of all Funds Flow agreements between Hospitals, CCA, Corporate and CPUP Departments. This includes the review and assessment of Research, Teaching, Rent, Purchased Service, and Programmatic support (HUP $350M). This requires working closely with Hospital Controller, Asst. Controller, Funds Flow Supervisor, and Directors of Finance CPUP and Director of Funds Flow Operations CPUP. In addition, Funds Flow- Sr Accountant is responsible to compile and maintain all documentation related to Funds Flow agreements between Hospitals and all CPUP Departments. Calculate and review monthly performance of incentive arrangements - quarterly where indicated. Responsible for the assessment and review of the Incentives/Ventures monthly, including NPR rate true-ups quarterly. Prepare ad-hoc analyses and variance explanations as assigned and in support of requested items.
The Funds Flow- Senior Accountant is responsible for the review and assessment of HUP’s Inter-Entity Programmatic and Purchased Service Budget ($350M). Also responsible for reviewing Rebase Packages for CPUP Departments and tracking changes. This includes checking the SharePoint to save and conduct timely review of newly added documentation. Validate all budget related requests are approved, including RTRs via Faculty Onboarding site. Process transactions and review of the IET Budget Application for HUP and ensure reconciliation with other entities and CPUP. Communicate timely and provide a customer service orientation of financial services to Controller, Assistant Controller, Funds Flow Supervisor, Department Directors and other customers as required. Model proposed new arrangements with HUP and the clinical practices.
Responsibilities:
- Responsible for the monitoring and accounting for Funds Flow and other Financial Planning activities in an efficient customer-focused manner, including analysis to determine feasibility of requests.
- Financial / Incentive Analyses: Responsible for the valuation of all Joint Venture arrangements with HUP and various entities, including analysis of trends and variance explanations. Review and validate Incentive results and communicate timely.
- Operating Budget: Review and reconcile with CPUP Finance staff related to practice submissions and HUP projections throughout the budget process. Submit interim and final approved budget to Accounting Operations/Budget.
- Compile and maintain all documentation related to Funds Flow agreements between Hospital and all CPUP Departments, including Rebase packages, RTRs and approved new requests.
- Review and prepare financial data for special projects and analysis, as assigned.
- Share feedback on process and procedures for improvement of existing systems.
- All other duties as assigned.
- Close Responsibilities: Prepare, record and monitor monthly IET/Funds Flow journal entries in an accurate and timely fashion. Responsible for all IETs and the monthly reconciliation of all IET account numbers to the various departments.
Credentials:
- Certified Public Accountant preferred.
Education or Equivalent Experience:
- Bachelor's Degree in Accounting and/or Finance required.
- 2-3 years Finance/Accounting experience required.
- Master's Degree in Business Administration or related field preferred.
Skills & Abilities:
- 2-3+ years General Accounting and Budgeting experience required.
- Working knowledge of 3rd Party Payments contracts required.
- Working knowledge of Generally Accepted Accounting Principles and Regulations required.
- Understanding of Funds Flow Principles and Arrangements in Academic Medical Center required.
- Experience with EPIC (or similar) Patient accounting billing system.
- Experience with Lawson (or similar) General Ledger system.
- Experience with Hyperion Reporting and Budget System (or similar).
- Working knowledge of Microsoft Excel, Access, Word, Power Point and Outlook.
- Working knowledge of 3rd Party Payments contracts preferred.
- Experience with Horizon Decision Support Cost Accounting System (or similar) preferred.
Live Your Life's Work
We are an Equal Opportunity and Affirmative Action employer. Candidates are considered for employment without regard to race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, familial status, genetic information, domestic or sexual violence victim status, citizenship status, military status, status as a protected veteran or any other status protected by applicable law.
