Mount Sinai Careers

Associate Director, Population Health Operations Finance – Mount Sinai Health Partners

New York, New York
Professional / Managerial / Administrative


Job Description

The Mount Sinai Health System

Associate Director, Population Health Operations Finance

 

 

Background

 

Mount Sinai is one of the largest non-profit health systems in the U.S. with a strong reputation for quality of care (18th ranked academic medical center) and research/education (22nd ranked medical school). Our health system has ~40,000 employees working together to provide billions of dollars in high-quality care for millions of patients each year.

 

We are accelerating a transition to a business model focused on population health management – our goal is to keep entire communities healthy and out of the hospital.  Mount Sinai Health Partners (MSHP) is the team driving this transformation within Mount Sinai.  The team includes 400+ employees with clinical, contracting, finance, IT, analytics, operations, and product development expertise. 

 

MSHP is a fast growing business unit within Mount Sinai and is looking for team members who:

 

  • Are comfortable “playing up” and “playing down” as needed to accomplish business objectives
  • Work productively amidst ambiguity
  • Thrive in fast-paced  work environments
  • Seek to improve the status quo 

 

Within MSHP, the Population Health Operations Team develops the Population Health strategy and drives key initiatives to support that strategy across all other MSHP and MSHS business functions, including contracting, analytics, clinical operations, commercialization, and IT.  The Population Health Operations Team also owns the core business operations of the population health enterprise, including finance and team growth & development.

 

 

Role Summary

MSHP seeks an Associate Director, Population Health Operations Finance to develop and operate the finance function which currently serves Mount Sinai’s population health business, and will also serve Mount Sinai’s commercialization clients.  The ideal candidate is a strategic finance & accounting professional looking for a blended accounting and finance leadership role, who is excited about building and operating a finance function, and who has a customer service mindset and commitment to continuous improvement.

 

The Associate Director, Population Health Operations Finance will be responsible for creating standard processes, tools, and templates – as well as corresponding SLAs to meet the expectations of internal population health business leadership, as well as external commercialization clients.  Responsibilities include:

 

·         Design and implement appropriate financial controls – ensure timely and accurate financial transactions

·         Perform overall accounting; recommend accounting structure to align with strategic business objectives

·         Develop monthly, quarterly, and annual financial reports to meet the needs of management, the Board, and commercialization clients

·         Develop financial forecasts that align with strategy

·         Develop annual budgets

·         Manage the operations and overall performance of the population health finance department

 

The Associate Director, Population Health Operations Financewill report to the Vice President of Population Health Operations and will lead a team that includes one Population Health Finance Associate, as well as a portion of time from the Population Health Operations Team Coordinator. 

 

Responsibilities

Financial Transactions

  • Design, implement, and maintain appropriate financial controls, systems, and procedures – within this context, ensure timely and accurate review and approval of financial transactions in the MSHS accounting system (Sinai Central)
  • Maintain a tracker of necessary financial transactions for both the population health business, and commercialization clients, and ensure transactions are completed in a timely fashion
  • Develop process for managing contracts relevant to the population health business (e.g., enter into MSHS procurement tracking system, maintain tracker that includes contract purpose, payment amount, and payment schedule, track invoice receipt and payment, serve as initial point of contact for vendor questions and escalations, etc.)
  • Invoice commercialization clients and create credit memos
  • For commercialization clients, track all accounts payable and receivable(working with MSHS finance team) and ensure payment or collection in a timely fashion

 

Accounting & Financial Reporting

·         Recommend accounting structure that aligns with strategic business objectives; work with MSHS finance team to implement

·         Ensure ledgers are up to date and accurate

  • Prepare and review monthly financial accounting reports with MSHS finance as well as the Chief Population Health Officer; analyze data to identify current and prospective issues and opportunities
  • Co-develop (with MSHS finance) financial reports for system leadership, including MSHS Board Finance Committee
  • Design a standardized client-facing financial reporting package and methodology for commercialization clients
  • Perform budget reconciliations for commercialization clients on a quarterly & annual basis (collaborate with the Actuarial / Med Econ team, as well as the MSHS finance team)

·         For commercialization clients, coordinate the provision of information to external auditors on an as requested basis

 

Financial Forecasting

·         With the Associate Director of Population Health Strategy, develop multi-year financial forecasts for the population business based on market sizing, competitor analysis, and detailed scenario-based projections of performance in value-based contracts

·         Maintain multi-year financial forecast and refine projections as appropriate

·         Derive insights from financial projections & prepare materials to support Leadership Team discussions

 

Annual Budget

  • Develop annual operating budget, working with Population Health Leadership Team and Chief Population Health Officer to identify required resources
  • Create materials to support Population Health Leadership Team budget presentations to MSHS CFO
  • Liaise with MSHS finance department leadership to gain approval of budget
  • Submit budgets and ensure properly loaded in MSHS central accounting system, adhering to MSHS finance budget submission requirements 

 

Finance Department Operations & Performance Management

  • Develop & maintain finance policies & procedures
  • Develop & maintain standard tools,  templates, and methodologies
  • Educate team members on relevant finance standard operating procedures (develop education plan, develop content, run education sessions)
  • Serve as go to resource for financial transaction questions from team members
  • Develop KPIs and targets for the population health finance function; develop SLAs for commercialization clients
  • Build and maintain strong working relationship with MSHS finance team
  • Serve as point of contact for commercialization clients regarding finance needs; build strong relationships with their finance teams

 

Qualifications                   

Education and Experience

·         Bachelor’s degree required

·         7 – 10 years of professional experience required either in finance or accounting

·         Prior experience at an investment bank or financial consulting firm, a fortune 500 company, a health insurer, or large complex health system; building and running a finance function at a start-up would also be valuable experience for this role

·         Experience with financial modeling and financial reporting

·         Advanced knowledge of Excel, including experience building complex models in Excel

·         Strong functional knowledge of value-based contract structure a plus, or motivation to learn coupled with demonstrated ability to successfully learn complex subject matter on the job

·         Previous experience managing one or more direct reports required

 

Additional Skills and Qualities

·         Proven leader – Must have strong work ethics, well organized and a self-starter.

·         Able to interface independently with senior leaders from large organizations

 

·         Strategic thinker – natural strategic thinker that is able to understands how individual project activities fit within and contribute to the overall population health business   

·         Problem solver  responds to problems with suggested solutions; sound judgment and decision-making abilities

·         Analytic skillset – able to perform complex analytics including financial analyses, P&L development; exceptionally fluent in Excel

·         Effective communicator – excellent written and verbal communication; able to summarize analyses in a way that simplifies complex ideas and synthesize information into insights

·         Flexible team player – able to collaborate well with diverse set of team members, comfortable working in a start-up environment, and responds effectively to constructive feedback

·         Organized  – meticulous and detail-oriented; consistently meets timelines and objectives

·         Reliable – delivers high-quality work and accurate analyses;  proactively addresses questions or concerns in a timely manner

·         Mature professional – seen as a mature leader,  interacts with internal and external stakeholders independently and in a professional manner

·        Passionate innovator – desire to join a fast-paced, growth-oriented environment with a passion for delivering superior health value and improving health care in the US