Finance Associate, Population Health Operations- Mount Sinai Health Partners

Mount Sinai Medical Center New York , NY 10007

Posted 2 months ago

The Mount Sinai Health System

Finance Associate, Population HealthOperations

Background

Mount Sinai is one of the largest non-profit health systems in the U.S. with a strong reputation for quality of care and research/education. Our health system has ~38,000 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 a Finance Associate, Population Health Operations to support the development and operations of 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 professional with 1-2 years of experience with a finance or accounting background. The candidate must be a strong self-starter who is excited about building and operationalizing a finance function from the ground up in a fast-paced, start-up like environment. The candidate must be a dynamic individual who has a customer service mindset, strong analytical problem solving skills, and a commitment to continuous improvement and innovation.

The Finance Associate will be responsible for working with the Associate Director of Finance to support the creation of standard processes, tools, and templates for the MSHP finance function. The Finance Associate is also responsible for building analyses and tackling ad hoc analytical projects to support the needs to internal Population Health Leadership. Responsibilities include:

  • Follow and enforce appropriate financial controls ensure timely and accurate financial transactions

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

  • Support the development of financial forecasts that align with strategy

  • Support the development of annual budgets

  • Run other analyses as necessary to track and assess the operations and overall performance of the population health finance department

  • Serve as a trusted, strategic finance partner to the Associate Director of Finance in tracking and understanding drivers of cost, operational efficiency, revenue growth and profitability

The Finance Associate, Population Health Operations will report to the Associate Director of Population Health Finance.

Responsibilities

Financial Transactions

  • Follow appropriate financial controls, systems, and procedures 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

  • Support contract management relevant to the population health business (e.g., submitting contracts into MSHS procurement tracking system, maintaining tracker that includes contract purpose, payment amount, and payment schedule, track invoice receipt and payment, serve as point of contact for vendor questions and escalations, etc.)

  • Work with team coordinators to facilitate large or outstanding financial transactions, and provide day-by-day support to team coordinators on financial transaction questions

  • 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

  • Assist in preparation of monthly financial accounting reports for MSHS finance as well as the Chief Population Health Officer; analyze data to identify current and prospective issues and opportunities

  • Investigate discrepancies or large variances from budget in monthly financials and work with department Leadership and Central Finance to reconcile and resolve

  • Co-develop (with the Associate Director of Finance and MSHS finance) financial reports for system leadership, including MSHS Board Finance Committee

  • Help drive KPI and financial accountability and visibility throughout the organization

  • 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

  • Assist in the development of 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

  • Assist the Associate Director of Finance in maintaining multi-year financial forecast and refine projections as appropriate

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

Annual Budget

  • Support the development of the annual operating budget, working with the Associate Director of Finance, the 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

  • Support Associate Director of Finance in submitting budgets and ensuring proper MSHS central accounting system submission format

Finance Department Operations & Performance Management

  • Follow and enforce finance policies & procedures

  • Be a resource for financial transaction questions from team members

  • Track KPIs and targets for the population health finance function

  • Build and maintain strong working relationship with MSHS finance team over time

  • 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 (preferably in Economics, Accounting, Finance, or Business)

  • Masters preferred, or equivalent education and work experience

  • 2-3 years of professional experience required

  • Prior experience must have been in a finance, accounting, or analytics role

  • Prior experience at a healthcare-focused startup, large complex health system, financial institution, financial consulting firm, or health insurer preferred

  • Experience with financial modeling and financial reporting

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

  • 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

  • Ability to prioritize and adapt quickly in a fast paced environment

  • Comfortability with modeling and analyzing open-ended operational questions

Additional Skills and Qualities

  • Self-Starter highly motivated individual with strong work ethic and desire to learn

  • Professional demeanor Able to interface 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

  • 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

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Finance Associate, Population Health Operations- Mount Sinai Health Partners

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