Plans, manages, and directs the financial reporting and financial operations of the University of Maryland Medical System via the Financial Reporting Function of the UMMS Corporate Shared Services. Accountable for the preparation of the Medical System's financial statements to include all of its subsidiaries and joint ventures, related financial analyses and management results reporting; performance of finance functions: accounting, reporting, fixed assets, maintenance of corporate financial records; compliance with regulatory financial reporting requirements; establishing proper internal controls, financial policies and procedures and ensuring compliance with established corporate policies and financial system implementation and maintenance. Oversees the Directors of Financial Reporting. Work is performed under general direction. Direct report to the Vice President, Corporate Finance and System Controller.
Principal Responsibilities and Tasks
The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all job duties performed by personnel so classified.
Responsible for all aspects of Financial Reporting, including external GAAP basis presentation and internal management statements, as presented to all users of the Corporation's financial statements, including but not limited to the Board of Directors, Bond Rating Agencies, Bond Investors, and Regulatory Agencies.
Develop and communicate corporate financial and accounting policies to ensure compliance with all aspects of GAAP and ensures compliance with new pronouncements and requirements as mandated by various governing bodies, including but not limited to FASB, PCAOB, and SEC.
Ensure adequate control over corporate assets, the accuracy of financial results and promotes an efficient and effective service delivery.
Assure the accurate and timely reporting of the financial results of the Corporation to its management and executive staff.
Coordinate and advise all Finance functions integral to preparation of the financial statement of the Corporation.
Ensure the financial reporting needs of the organization are met in a manner that provides the necessary information to effectively manage the resources and financial operations of the Corporation in a dynamic environment.
Responsible for the establishment of goals, objectives, and standards of performance; development and implementation of operating policies and procedures; interpretation and execution of compliance with relevant policies and procedures, standards, regulations and codes to personnel.
Advise Vice President Corporate Finance and System Controller, Corporate Chief Financial Officer and local hospital finance executives concerning the financial affairs of the corporation and assists the Vice President Corporate Finance and System Controller and/or Chief Financial Officer in the resolution of financial matters.
Assists with planning, developing and implementing financial strategies and systems necessary to meet the changing needs of the organization.
Assures corporate compliance with changes in regulatory requirements to include changes in generally accepted accounting principles, governmental reporting requirements and changes in tax regulations.
Coordinate and oversee the completion of the annual financial audit of the corporation.
Implement, maintain and enhance financial systems to provide complete and accurate records of UMMC and UMMS assets, liabilities and financial transactions.
Evaluate information system needs on an ongoing basis; maintain and direct financial reporting systems development.
Serve as financial liaison between the Medical System and its affiliates to include UMAB, State of Maryland Department of Budget & Fiscal Planning, and Legislative Auditors.
Perform other duties as assigned.
The University of Maryland Medical System is a 14-hospital system with academic, community and specialty medical services reaching every part of Maryland and beyond. UMMS is a national and regional referral center for trauma, cancer care, Neurocare, cardiac care, women's and children's health and physical rehabilitation. UMMS is the fourth largest private employer in the Baltimore metropolitan area and one of the top 20 employers in the state of Maryland. No organization will give you the clinical variety, the support, or the opportunities for professional growth that you'll enjoy as a member of our team.
Education and Experience
Master's degree in Accounting, Finance, or related field; or a Certified Public Accountant (CPA) required.
Minimum of seven years of progressively responsible experience in financial management, general accounting financial control systems.
Experience in health care finance.
Five years of experience in management.
Knowledge, Skills and Abilities
Advanced knowledge of general accounting principles.
Advanced skill in preparing and analyzing financial data and implementing changes to contain costs for budgetary purposes.
Advanced knowledge of federal, state and local tax regulations, particularly those related to Not for Profit Organizations.
Advanced knowledge of Financial Information Management and information technology systems.
Highly proficient mathematical and analytical skills.
Advanced skill in recruiting, directing, monitoring, evaluating and motivating the performance of professional and management/supervisory staff.
Advanced skill in implementing new programs related to increased departmental and organizational operating efficiency.
Expert skill presenting findings, conclusions, alternatives and information clearly and concisely at all levels within the organization.
Expert skill developing and maintaining collaborative working relationships with all levels of leadership, staff and vendors
Expert analytical, conceptual thinking, planning, organizational, and problem-solving skills.
Expert skill in the use of Microsoft Office Suite (e.g., Word, Excel, PowerPoint).
Expert verbal, written and interpersonal communication skills.
Ensure patient safety in the performance of job functions and through participation in hospital, department or unit patient safety initiatives.
Act to correct observed risks to patient safety.
Report adverse events and near misses to appropriate management authority.
Implement policies, procedure, and standards consistently in the performance of assigned duties.
Develop effective working relationships and maintain good communication with other team members.
Identify possible risks in processes, procedures, devices and communicates the same to those in charge.
All your information will be kept confidential according to EEO guidelines.
The University of Maryland Medical System (UMMS) was created in 1984 when the state-owned University Hospital became a private, nonprofit organization. It has evolved into a multi-hospital system with academic, community and specialty service missions reaching every part of the state and beyond. UMMS is a national and regional referral center for trauma, cancer care, neurocare, cardiac care, women's and children's health and physical rehabilitation. It also has one of the world's largest kidney transplant programs, as well as scores of other programs that improve the physical and mental health of thousands of people daily. The hospitals and health systems that comprise UMMS are: University of Maryland Medical Center, University of Maryland Medical Center Midtown Campus, UM Rehabilitation and Orthopaedic Institute, UM Baltimore Washington Medical Center, UM Capital Region Health, UM Charles Regional Medical Center, UM St. Joseph Medical Center, UM Upper Chesapeake Health, UM Shore Regional Health, Mt. Washington Pediatric Hospital and UM Community Medical Group.