Vice President, Finance and Budget

The Vice President of Finance and Budget shall possess a compelling vision to drive the creation and delivery of financial information and analytics through integrated information platforms to support key stakeholders across Virginia Premier and VCU Health System (VCUHS). This position has oversight of financial planning, reporting and analysis, cost allocation, budgeting and forecasting, and decision support. Key deliverables include the annual financial plan, forecasts, long range plans, operating and capital budgets and performance analytics leveraging decision support service tools.

Responsibilities

Perform financial analysis and monitoring of new business development, managed care contracts and other risk arrangements to support regional decision making and ongoing monitoring responsibilities.

Identify opportunities and makes recommendations for productivity improvements, cost savings, and revenue enhancement initiatives that support the organization’s strategic and financial goals.

Monitor all proposed and planned changes proactively to reimbursement, including government and private programs.

Assure alignment with VCUHS financial reporting and policies. Recommends appropriate changes in Virginia Premier financial and accounting structures, including policies and procedures.

Collaborate closely with managed care operations and contracting teams in developing value-based contracting arrangements with health systems and providers.

Serve as a thought-partner to P&L owners to help improve operational and financial performance.

Ensure compliance with local, state, and federal budgetary reporting requirements.

Manages the preparation of all financial reports including the preparation of financial outlooks and forecasts and coordinates with health system forecasts.

Lead Business Partner financial support to optimize performance within each product line and functional areas of responsibilities.

Recommend benchmarks for measuring the financial and operating performance of the health plan.

Represent the company externally to government agencies, auditors, and the general public

Perform actual to budget variance analysis and highlight risks and opportunities. Review findings with senior leadership and drive follow up actions as appropriate.

Prepare annual operating budgets, working closely with department leaders, to ensure budgets are well thought out and within strategic guidelines. Follow-up throughout the year on budget versus actual and guide leadership team on adjustments to remain on–budget.

Develop key performance indicators and metrics dashboard to monitor the health of the business.

Build relationships with all C-level executives and leadership team as a trusted partner that provides deep financial insight.

Lead, develop and retain a high performance financial planning and budget team including direct supervision.

Develop scalable processes and tools to support future growth including developing mid to long term plans for each product.

Develop financial models to support analysis of a variety of financial and operating activities.

Update internal systems with budget information and periodically reconcile project and operating budgets. Work with project teams and the Accounting Department to correct any discrepancies.

Qualifications

MINIMUM EDUCATION REQUIRED: B.S degree in Finance, Business, or Accounting Required. MBA preferred.

SPECIAL KNOWLEDGE AND/OR SKILLS

Exceptional financial planning, analysis, reporting expertise; strong technical knowledge, and experience with P&L forecasting.

Knowledge of budget and planning activities specific to a health insurance environment related to government and private programs. Expertise of federal, state and local regulations with budgetary implications on revenue and expenses.

Exceptional ability to navigate a highly matrixed and complex organization. Must be capable of fact-based, timely and collaborative decisions with an ability to delve deeply into details and make an impact in a dynamic environment.

Deep knowledge of health insurance budgets, budgeting philosophy including capital reserve requirements/implications.

Knowledgeable and comfortable leveraging technology and improving data and processes to improve budgeting and financial analysis effectiveness.

Ability to meet rigorous deadlines of the company, multitask, and prioritize.

Must possess strong interpersonal, communication, and organizational skills.

WORK BACKGROUND/EXPERIENCE

Minimum of Five (5) to Ten (10) years of experience in a mid to senior level finance or accounting position, and a CPA (preferred).

Knowledge of finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles.

Strong Finance business partnership skills with all levels of the organization.

Strong financial modeling skills.

Knowledge of automated financial and accounting reporting systems including finance and presentation tools such as Excel, PowerPoint, and business systems.

Knowledge of federal and state financial regulations.

Ability to analyze financial data and prepare financial reports, statements and projections.

Health Insurance industry experience is required. Must have demonstrated skill set for managing through cycles of organizational change.

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All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status. EOE.

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