Financial Operations Associate Jobs

Summary

The position is responsible for providing leadership, planning, and support for the accounting and financial reporting functions related to clinical practice and affiliate partnership activity. The Clinical Practice and Affiliate Financial Manager is responsible for providing leadership and directing the work of the Clinical Practice and Affiliate Finance team within the Controller’s Office and for seeking and achieving continuous development of staff, financial systems, processes, and work product.

Primary Responsibilities

• Manage and coordinate activities of staff. Oversee accounting, reporting and analytical activities related to revenue for patient services, clinical practice operations, Children’s Specialty Group (CSG) and other clinical contractual services, and affiliate hospital contracts by ensuring:

o Completion of monthly close activities for areas of responsibility: journal entries, accruals, trend and variance analyses, reporting schedules, presentation materials.

o Completion of annual audit activities for areas of responsibility.

o Preparation and review of reconciliations for areas of responsibility.

o Completeness and accuracy of revenue recognition for areas of responsibility.

o Allowances on uncollectible accounts are recorded, as necessary.

• Be the Finance Office liaison for clinical practice and affiliate constituents across the organization. Partner with practice leadership, Clinical Practice Services (CPS) and departments to improve the accounting, billing, collection, and reporting processes.
• Lead the affiliate and clinical billing and collection processes that include:

o Evaluating new, existing, and amended contracts for proper revenue recognition under generally accepted accounting principles (GAAP) and internal policies and procedures. Working collaboratively with others to gather information and to interpret and thoroughly understand affiliate contractual agreements. Documenting the terms of the contract and other important information necessary to administer the contract billing.

o Identifying and/or establishing general ledger segments to properly segregate accounting for complex, varied contractual agreements.

o Preparing and delivering invoices to affiliate and clinical organizations in accordance with contractual agreements.

o Reconciling invoices issued to accounting ledgers. Identifying discrepancies and unbillable expenses and working with departments to resolve.

o Monitoring open and aging receivables and working to resolve collection issues in a timely manner. Properly communicating and/or escalating collection issues that are not resolved sufficiently in a timely manner.

o Maintaining and updating the Workday customer accounts functionality, including customer billing information, terms, templates, and requirements necessary to accurately process invoices and obtain collections. Creating new customers in the system, as necessary.

o Preparing and distributing reports and reconciliations required by various affiliate agreements.

• Manage the accounting support for the clinical practice operations, including determining and applying monthly clinical assessments. Maintain the Workday accounting interface to EPIC program to properly report and allocate patient service revenue across departments. Partner with CPS to design and maintain the patient services receivables valuation model.

Knowledge – Skills – Abilities

• Excellent knowledge of generally accepted accounting principles and the ability to apply such knowledge to accounting, audit and financial reporting activities, including the preparation of audit footnotes.
• Excellent management accounting skills with an understanding of accounting controls, budgeting and financial planning/forecasting.
• Advanced computer skills, including MS Excel, MS Word, automated accounting software/ERP systems, and related report-writing tools is required.
• Advanced critical thinking, problem-solving, and analytical skills. Experience in working independently to analyze available information, draw conclusions and understandings, and present such conclusions effectively to senior management.
• Advanced managerial, staff development and team-building knowledge, skills and abilities. A continual focus on staff development to ensure team members have the knowledge, skills and abilities needed to work independently and successfully in a changing environment. Ability to effectively adapt to change
• Advanced verbal and written communication skills. High standards of productivity and accuracy and an excellent service attitude.
• Experience with process automation and process enhancement. Ability to identify areas for change and have the ability to maintain a consistent focus on process efficiencies.
• Ability to listen critically and solicit ideas from a variety of analytical participants at all levels of the organization

Qualifications

Appropriate experience may be substituted for education on an equivalent basis.

Minimum Required Education: Bachelor’s degree

Minimum Required Experience: 8 years

Preferred Certification/Licensure(s): CPA

Physical Requirements

Work requires occasionally lifting moderate weight materials, standing, or walking continuously.

Work Environment

Occasional exposure to dust, noise, temperature changes, or contact with water or other liquids. Work is performed in an environmentally controlled environment.

Sensory Acuity

Ability to detect and translate speech or other communication required. May occasionally require the ability to distinguish colors and perceive relative distances between objects.

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Why MCW?

• Outstanding Healthcare Coverage, including but not limited to Health, Vision, and Dental. Along with Flexible Spending options
• 403B Retirement Package
• Competitive Vacation and Paid Holidays offered
• Tuition Reimbursement
• Paid Parental Leave
• Employee & Family Assistance Program (EFAP)
• Pet Insurance
• On campus Fitness Facility, offering onsite classes
• Additional discounted rates on items such as: Select cell phone plans, local fitness facilities, Milwaukee recreation and entertainment etc.

For a brief overview of our benefits see: Benefits Overview

For a full list of positions see: MCW Careers

At MCW all of our endeavors, from our internal operations to our interactions with our partners, are driven by our shared organizational values: Caring – Collaborative – Curiosity – Inclusive – Integrity – Respect. We are committed to fostering an inclusive environment that values diversity in backgrounds, experiences, and perspectives through merit-based processes and in alignment with all applicable laws. We believe that embracing human differences is critical to realize our vision of a healthier world, and we recognize that a healthy and thriving community starts from within. Our values define who we are, what we stand for and how we conduct ourselves at MCW. If you believe in embracing individuality and working together according to these principles to improve health for all, then MCW is the place for you. For more information, please visit our institutional website.

MCW as an Equal Opportunity Employer and Commitment to Non-Discrimination:

The Medical College of Wisconsin (MCW) is an Equal Opportunity Employer. We are committed to fostering an inclusive community of outstanding faculty, staff, and students, as well as ensuring equal educational opportunity, employment, and access to services, programs, and activities, without regard to an individual's race, color, national origin, religion, age, disability, sex, gender identity/expression, sexual orientation, marital status, pregnancy, predisposing genetic characteristic, or military status. Employees, students, applicants or other members of the MCW community (including but not limited to vendors, visitors, and guests) may not be subjected to harassment that is prohibited by law or treated adversely or retaliated against based upon a protected characteristic.