Job Information
University of Washington CHIEF FINANCIAL OFFICER in Seattle, Washington
Req #: 238228
Department: DEPARTMENT OF MEDICINE: ADMINISTRATION
Posting Date: 09/19/2024
Closing Info: Closes On 09/26/2024
Salary: $22,917 - $24,167 per month
Limited Recruitment: Open to Department employees only
Shift: First Shift
Notes: As a UW employee, you will enjoy generous benefits and work/life programs. For a complete description of our benefits for this position, please visit our website, click here. (https://hr.uw.edu/benefits/wp-content/uploads/sites/3/2018/02/benefits-professional-staff-librarians-academic-staff-20230701_a11y.pdf )
As a UW employee, you have a unique opportunity to change lives on our campuses, in our state and around the world. UW employees offer their boundless energy, creative problem-solving skills, and dedication to build stronger minds and a healthier world.
UW faculty and staff also enjoy outstanding benefits, professional growth opportunities and unique resources in an environment noted for diversity, intellectual excitement, artistic pursuits, and natural beauty.
The Department of Medicine has an outstanding opportunity for a Position to join their team. POSITION PURPOSE
Under the general guidance of the Vice Chair of Finance and Administration (VCFA) for the Department of Medicine, the Chief Financial Officer (CFO) is primarily responsible for the management of the Department’s financial planning and operations. The incumbent shall create and direct the annual budget process for Divisions, Central units, support UWP Clinical budget process and create consolidated annual Department budget as well as oversee monthly and annual financial reporting and budget to actual monitoring for Divisions, Central Units and entire Department as well as provide support on strategy and financial recommendations to the VCFA and chair during course of the year; provide regular financial updates and presentations to key stakeholders within the department; and drive financial progress for the department. The CFO will serve as a delegate for the VCFA in meetings with the School, UW, and UWP on financial topics.
The Department of Medicine is the largest department in the School of Medicine with over 4500 staff, faculty, trainees and students and an annual budget of approximately $500,000,000 consisting of patient care revenue, sponsored research funds, endowments and gifts, state funds and affiliated hospital funding associated with the academic programs within the department. The department is made up of eleven subspecialties divisions: Allergy and Infectious Diseases; Cardiology; Gastroenterology; General Internal Medicine; Gerontology & Geriatric Medicine; Hematology-Oncology; Medical Genetics; Metabolism, Endocrinology and Nutrition; Nephrology; Pulmonary, Critical Care and Sleep Medicine; and Rheumatology. These divisions occupy space at multiple sites including University of Washington Medical Center (UWMC), Harborview Medical Center (HMC), Veterans Administration Puget Sound Health Care System (VAPSHCS), Bloodworks NW, Fred Hutch, and other locations in the Seattle area.
As a senior member of the Executive Leadership team, the CFO is an advisor to the Chair, VCFA, Service Chiefs, Division Heads and Division Administrators. Provides evaluation and assistance with their financial plans and analysis. The CFO has fiduciary responsibilities of the Department’s $520 million budget; including directing oversight of the Department budget, long-range financial plans, which includes budgets and funds from federal, state, practice plan, private, University and foundation sources, signature authority, reporting and analysis of the funds.
DUTIES AND RESPONSIBILITIES FINANCIAL PLANNING, BUDGETING, FINANCIAL REPORTING AND ANALYSIS (40%)
Organize and direct the annual budget process for the DoM including development of annual budgets for each Division and for all DoM Central units. Process includes completing a full DoM budget including UWP budget and other key factors including commitments and long-term funding obligations.
Oversee monthly and annual financial reporting for the DoM at both Division and Central Unit level. Continually assess the reporting process to ensure it provides VCFA and Chair necessary insight in the financial status and performance of each Division, each Central Unit and the DoM in its entirety.
Assess DoM financial performance against both the annual budget and the department's long term strategy.
Development of strategic financial plans for the department. This will include financial analyses, proposals and implementation plans for new programs, and the analyses to changes in existing programs.
Develops policy and oversees compliance for sponsored research programs.
Translates department objectives into financial strategies for short- and long-term planning.
Interprets policies and regulations concerning the department's financial activities; ensuring compliance with the University's policies and procedures as well as guidelines from the federal government, state and other research sponsors.
Develops and monitors policies and procedures to direct financial activities and establish the department's position on financial matters.
Preparation and presentation of departmental monthly financial reporting to department leadership and quarterly financial reporting to dean’s office
Direct and oversee all financial operations for the central administrative units including allocation of resources, forecasting, and implementation of policies and monitoring of activities. Develop and implement division financial reporting for the division and department Leadership
Compile, interpret and communicate financial information to various audiences including the Department leadership, faculty, and other stakeholder within UW Medicine
Development of monthly financial dashboard and metrics.
Oversight of departmental budgeting process and organizational performance against both the annual budget and long-term financial strategy
Strategic oversight of tools and systems to provide critical financial planning, analysis and decision support to Chair, VCFA, and other Departmental/Division leaders, and makes actionable recommendations on both strategy and operations.
Oversee Financial Reporting Database for the department which includes faculty, staff and fellow’s payroll, grant management, space management and financial data related to all funding sources.
Understands criteria accompanying multiple funding sources regarding use and purpose and ensures the department appropriately utilizes resources within those guidelines.
Develops, interprets, and communicates financial information to various audiences including UW Medicine leadership, faculty, and external stakeholders as appropriate.
Organizes and directs the department's financial support operation.
Assess the need for additional resources and identifies funding sources to fit with department initiatives and mission.STRATEGIC PLANNING (20%)The CFO will provide senior leadership including but not limited to providing vision, mission and strategic initiatives, and developing appropriate goals and objectives to advance the department as well as the eleven divisions within the department.
Provide leadership and mentoring to the Division and Center/Institute Administrator(s) and other department managers
Provide high level overview of funds available to spend, funds committed, etc., on a monthly basis to Chair and VCFA and continually on an ad hoc basis.
Partner with clinical programs and operations leadership on overall budgeting and financial picture for department as a whole
Establish strong working relationships with the faculty, staff, Division Heads, Program Directors, Dean's Office Staff, and other UW Medicine/UWP Employees.
Lead an environment of innovation and changes for the department and Institution as a whole.
Participate in department strategic planning and annual retreats as well as providing consultation to department leadership
Work with all divisions and/or operating units to formulate strategies for financial stability, compliance and efficiencies as it relates to finance, information technology and research
Work with all divisions to assess and implement long-range information technology needs to align with the overall mission of the department
Will have a leadership role in the School of Medicine representing the department and its strategic goals.SUPERVISION AND LEADERSHIP (20%)
Provide leadership, training, development and mentorship to the finance staff including direct supervision of financial staff. Provides leadership and mentorship to the Division Administrators.
Oversee the orientation of new Division Administrators and financial staff as it relates to financial reporting and analysis, process and procedures.
Maintains strong working relationships with 11 Divisions, Dean’s Office, Medical Centers and other UW/UWP offices
Department liaison with the various UW central offices including: CRBB, MA&A, GCA, OSP and othersCONTRACTING AND FACULTY COMPLIANCE MANAGEMENT (10%)The CFO will have responsibility to oversee the DoM staff managing contracting and faculty regulatory compliance reporting which includes:
Provide oversight of the contracting process across the DoM. Ensure new contractual relationships are completed in a timely and compliant process for all DoM divisions and units which are consistent with UW policies. Contract include Clinical, Research, Goods and Services agreements, educational agreements and other MOU’s.
Provide oversight and guidance to the faculty outside work (1460 form) process for all faculty in the DoM. Ensure process occurs timely and issues are resolved effectively and compliantly.EDUCATIONAL PROGRAM(S) MANAGEMENT (RESIDENCY AND FELLOWSHIP PROGRAMS) (10%)The CFO will have financial responsibility of the Graduate Medical Education programs within the department. Key financial management responsibilities for the CFO are:
Provides financial/resource support of educational programs, including identifying department funds and/or other funding opportunities.
Oversees systems to ensure compliance with billing and crediting systems to support the financial health of the fellowship programs including quality assurance with GMETABS.
Directs financial analysis and reporting related to mission-critical requirements, including financial impact of changes in program requirements as directed by the ACGME or the School of Medicine. Oversees educational program budgets, including WWAMI.
Negotiates with Dean of Medicine, Medical Centers or other affiliates for funding related to educational programs.
Coordinates with the School of Medicine on all educational program budgets, including WWAMI
Interprets and integrates federal, state, UW, SOM, ACGME, RRC and other local laws and agreements into departmental financial policies and proceduresSPECIAL PROJECTS AND OTHER DUTIES (10%)
Special projects and other duties as requested on an ad hoc basis.Supervisory Responsibilities:Full supervisory responsibilities as defined by UW for direct reports. MINIMUM REQUIREMENTS Master’s Degree in Business Administration or related field and 6-8 years of experience within a research or academic institution. Equivalent education/experience will substitute for all minimum qualifications except when there are legal requirements, such as a license/certification/registration. ADDITIONAL REQUIREMENTS
Proven administrative, financial, organizational and problem-solving skills, ability to prioritize tasks and meet deadlines
Excellent verbal and written communication skills
Strong interpersonal skills
Ability to work in a diverse environment
Good supervisory skills
Ability to work independently with limited supervision
Ability to use sound judgment.
Demonstrated experience in financial management, analysis and reporting
Demonstrated ability to develop and maintain collaborative working relationships
Demonstrated ability to operate in highly sensitive situations and demonstrate outstanding administrative judgment
Proven leadership, project management and communication skills
Functional working knowledge of project management principles and demonstrated ability to obtain results in consulting-type arrangements
Demonstrated ability to function independently at a management/executive level with minimal support and/or reporting authority
Ability to work effectively with marginal resources, limited staffing, or sub-optimal staff resources available to help support the work to be completed.
Demonstrated dedication to equity, diversity and inclusion. Application Process: The application process may include completion of a variety of online assessments to obtain additional information that will be used in the evaluation process. These assessments may include Work Authorization, Cover Letter and/or others. Any assessments that you need to complete will appear on your screen as soon as you select “Apply to this position”. Once you begin an assessment, it must be completed at that time; if you do not complete the assessment, you will be prompted to do so the next time you access your “My Jobs” page. If you select to take it later, it will appear on your "My Jobs" page to take when you are access ready. Please note that your application will not be reviewed, and you will not be considered for this position until all required assessments have been completed.
University of Washington is an affirmative action and equal opportunity employer. All qualified applicants will receive consideration for employment without regard to, among other things, race, religion, color, national origin, sexual orientation, gender identity, sex, age, protected veteran or disabled status, or genetic information.