Finance Director

Position Summary

Under the general supervision of the Sr. Administrative Director and the Chair of the Department of Pathology & Laboratory Medicine BMC & BUMG the Finance Director is responsible for the timely and accurate successful financial management, revenue integrity and optimized revenue cycle of the BU Mallory Pathology Associates (BUMPA), Inc., faculty practice plan, Boston University Medical Group [50% effort], the Boston Medical Center Health System (BMCHS) Hospital Billing (HB) [40% effort];

as well as assistance with the Boston Medical Center Affiliated Physician (BMCAP) (10% effort] professional billing.

The Financial Director ensures all duties and responsibilities with regard to the professional practice and hospital fiscal goals are met. Particularly, ensuring the fiscal management of department activities, including: > $20M budget management, BUMPA faculty and support staff. Inclusive of these responsibilities include contributing to revenue cycle success for the Boston Medical Center Laboratory operations in collaboration with the Laboratory Revenue Cycle and Revenue Integrity Teams.

Working to align with the BMC Coding Team and the LIS teams is essential.

The Finance Director will develop and manage operational budgets and individual program budgets, monitor monthly cash flow and accounting, reporting and faculty productivity. In addition, managing the pre-award and post award preparation of grant submissions, subcontracts, and contracting process for any awards to the clinical services. Duties include maintenance of fiscal and financial records of assigned budgets, contracts and grants. The position also serves as the primary administrative contact on assigned budgets, contracts and grants.

Responsible for managing various financial and administrative tasks including support of research programs. Works in collaboration with Pathology staff members to monitor all aspects of financial activities. The Finance Director, in collaboration with the Sr. Administrative Director and the Chair, will negotiate contracts and MOUs with outside parties.

The Finance Director also manages development of pro formas for recruiting faculty, processing on-boarding and off-boarding faculty, maintaining clinical faculty records and collaborating with the department’s administrative team for recruiting, hiring, licensing and credentialing faculty. The Financial Director ensures the Chair and BUMPA remain compliant with the BUMPA compensation plan. Tracking of RVU performance and annual review of the faculty compensation plan expected.

The Finance Director also supervises the Revenue Integrity Manager for Laboratory Medicine, the Pathology Billing Manager, Grant Manager, and the department coding and accounting team members.

• Manages Department Financial Dashboard in conjunction with the Revenue Cycle team at BMC.
• Responsible for interpreting terms of grants, subcontracts, and contracts; ensuring timely and full completion of all submissions, setting up reconciliation systems and monitoring that all funding and expenses are properly allocated
• Works with the Sr. Administrative Director, Chair and other managers to create annual operating budgets, monitor actual results in accordance with budget and funding source regulations. Use the budgets as a tool to effectively measure organizational performance.
• Performs timely monthly closings, monthly financial statements and ensure that all payable accruals are made.
• Performs monthly trial balance, account receivables and payables, contract billings and all journal transactions.
• Prepares and provides all necessary analyses for year end audit, as well as, the timely completion of the audit.
• Assist Section Leadership in the developments of budgets. Help ensure that all necessary information is included and accurate.
• Provides Sr. Administrative Director and Chair with reports showing budgeted and actual account status including encumbrances: ensure that reports are received reviewed and understood and completed in a timely manner.
• Preparation and coordination of financial progress and continuation reports as required by the funding…