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VP, Finance (MS Downtown)
The Mount Sinai Health System
Do you have what it takes to wear the badge?
The Mount Sinai Health System's commitment to excellence extends beyond delivering world-class health care. The System's ongoing success is dependent upon our highly motivated, nonclinical professionals working to improve business operations. Our leadership team is driven to provide exceptional service by cultivating a workforce that is dedicated to upholding Mount Sinai's mission of delivering innovative, breakthrough medicine with compassion and integrity.
Are you ready to discover the world of limitless possibilities that comes with wearing the badge? Explore more about this opportunity and how you can help us write a new chapter in our story of unrivaled patient care!
The Vice President of Finance for Mount Sinai Downtown plans, coordinates and oversees financial operations for Mount Sinai Downtown. The VP of Finance acts as a liaison between theOffice of the CFO and Mount Sinai Downtown. The VP provides financial guidance for the strategic financial planning initiatives and helps to ensure the integration of finance operations into the routine processes of the Mount Sinai Downtown. She/he will have financial and operational expertise, leadership, direction, and oversight for financial programs managed or supported by the President of Mount Sinai Downtown and the SVP of Health System Finance.
Responsibilities include participation in the design of program goals, timelines and objectives; supervision of project operations; assisting with defining measurable and actionable metrics; supervision of objectives within the programs, development of relationships including interactions with corporate finance, ambulatory network, nursing and physicians.
The selected individual will be a member of the Executive Management team and will be expected to interface with other leaders within the organization for collaborative direction and decision making.
The position will be responsible for supporting Corporate Finance and Hospital Management in the areas of Budgeting (operations and capital), Financial Reporting, Revenue Cycle, Decision Support, and Strategic Planning.
He/She is responsible for developing and maintaining good communications and working relationships with the executive staff, corporate teams, outside agencies and other departments. This individual serves as the liaison between the business, quality, clinical and administrative teams with responsibility to analyze, evaluate, and meet financial/business needs. The VP, partners with the Office of the Corporate Finance and Mount Sinai Downtown in the development and integration of the Medical Staff Services Office into the infrastructure of the Health System, including related initiatives, services and programs.
He/She will have responsible for the management, leadership, direction, and oversight of Finance initiatives. Responsibilities include participation in the design of financial goals, timelines and objectives; Developing and defining measurable and actionable metrics; developing and maintaining key relationships including interactions with senior leadership, corporate partners, clinical departments, physicians and providers.
This position will report directly to the President of Mount Sinai Downtown and SVP, Hospital CFO for the Health System and will work closely with the senior leadership to focus on several areas including, but not limited to developing Mount Sinai Downtown financial goals, partnership with departments, business network development and faculty practice administration, budget management,resource utilization, financial reporting, and financial improvement activities.
What You'll Do:
1. Financial Management
- Reviews and monitors financial and capital expenditures
- Provides financial and administrative oversight and problem resolution guidance
- Monitors and oversees the hospital’s operating budget; advises and assists with expense budget forecasting
- Reviews and prioritizes financial and capital expenditures by assessing profitability, alignment with business objectives and budget parameters.
- Analyzes hospital’s financial results with respect to profits, trends, costs and compliance with budgets. Issue regular status and ad hoc reports to senior management.
- Assisting senior management in financial planning and results management.
- Work with other team members to understand revenue and cost drivers and define appropriate reports for tracking.
- Assists the Executive Team of Mont Sinai Downtown with financial and strategic analysis to facilitate day-to-day and long term financial decisions.
- Supports the site leadership team with the preparation of reports, special projects or analyses required to resolve financial issues or development.
- Responsible for helping the operations staff to develop implement and monitor the annual operating and capital budgets as well as providing insight and analysis of monthly budget variances.
- Provides explanation and guidance to site leadership on monthly financial reporting results and issues. Coordinates the preparation of financial statements.
- Assists Corporate Finance leadership with the preparation of reports for presentation to Administration.
- Assists site leadership team in developing revenue enhancement and cost containment initiatives and helps to drive these improvements.
- Represents Mount Sinai Downtown Finance at certain site operational committees.
- Acts independently to address and resolve problems and issues that arise in areas under his/her responsibility.
- Expected to be proactive in resolving problems and issues not under his/her responsibility by directing them appropriately
- Other finance and administrative duties as required.
2. Operational Performance
- Monitors and evaluates the impact of industry trends on the area’s current business performance and competitive outlook.
- Plans and directs the functions of the Mount Sinai Downtown Finance department
- Ensures active communication with all external and internal constituencies to establish strong relationships that are complimentary and consistent with organizational goals and strategic needs
- Serves as an financial resource for internal team members for expedited problem identification and resolution, provision of finance-specific updates, and team interactions and deadlines
- Partner with Operations to ensure that staff is properly allocated with appropriate resources in order to achieve deliverables and expectations of the President of Mount Sinai Downtown and Corporate Finance, while maintaining appropriate revenue goals and margins.
3. HR Development
- Hires, trains, supervises, counsels and evaluates direct reports
- Mentors developing finance leaders on performance improvement techniques including assisting with strategic planning of initiatives focused on Health System priorities
- Oversees staff development and training with a focus on productivity and staff retention
- Conducts and submits probationary and annual performance appraisals of direct reports
What You'll Bring:
- Bachelor’s Degree in a Business, Finance or Accounting
- Master’s Degree in Business, Finance or Accounting preferred
- 5-10 years’ experience in a health care setting
- 5 years supervisory/management experience
- Proficiency with Microsoft Office (Word, Excel, Power Point)
- Highly-motivated and meticulous with excellent problem-solving, communication skills, and strong attention to detail
- Strong ability to communicate clearly and effectively, both verbally and in writing with all organizational levels
- Ability to make administrative/procedural decisions and judgments
- Ability to plan and organize work
- Ability to use independent judgment to manage and maintain confidentiality of information
- Acts decisively, making good decisions based upon a mixture of analysis, experience, and judgment in a timely manner
- Self-aware of own strengths and development areas
- Delivers results by setting clear goals and performance standards for individuals and teams
- Demonstrates resourcefulness and a "can-do" attitude when faced with challenges or problems
- Holds self accountable for achieving results
- Organizes and prioritizes work to ensure focus on high impact/value-added activities
- Performs in-depth planning to achieve accurate and timely results
- Works well under pressure ensuring tasks are prioritized meeting goals
- Works well both independently and with team
Who We Are:
Over 35,000 employees strong, the mission of the Mount Sinai Health System is to provide compassionate patient care with seamless coordination and to advance medicine through unrivaled education, research, and outreach in the many diverse communities we serve.
Formed in September 2013, The Mount Sinai Health System combines the excellence of the Icahn School of Medicine at Mount Sinai with seven premier hospital campuses, including Mount Sinai Beth Israel, Mount Sinai Beth Israel Brooklyn, The Mount Sinai Hospital, Mount Sinai Queens, Mount Sinai Roosevelt, Mount Sinai St. Luke's, and New York Eye and Ear Infirmary of Mount Sinai.
The Mount Sinai Health System is committed to the tenets of diversity and workforce that are strengthened by the inclusion of and respect for our differences. We offer our employees a highly competitive compensation and benefits package, a 403(b) retirement plan, and much more.
The Mount Sinai Health System is an equal opportunity employer. We promote recognition and respect for individual and cultural differences, and we work to make our employees feel valued and appreciated, whatever their race, gender, background, or sexual orientation.