Financial Reporting Specialist

Exemption Status:

Schedule Details:

Scheduled Hours:

Shift:

Hours:

Cost Center:

This position may have a signing bonus available a member of the Recruitment Team will confirm eligibility during the interview process.

At UMass Memorial Health, everyone is a caregiver - regardless of their title or responsibilities. Exceptional patient care, academic excellence and leading-edge research make UMass Memorial the premier health system of Central Massachusetts, and a place where we can help you build the career you deserve. We are more than 16,000 employees, working together as one health system in a relentless pursuit of healing for our patients, community and each other. And everyone, in their own unique way, plays an important part, every day.

Major Responsibilities:

• Supports the system's/division's financial management and UMMH senior management in the preparation and analysis of financial reports and statistics to management boards, administration and external organizations. Responds to multi-disciplinary customer demands.
• Works collaboratively with the management to optimize efficiencies of the system towards the financial reporting process.
• Pro-actively seeks new functionality, process improvements to simplify data collection, as well as monitoring system performance.
• Reviews required records and files prepared by internal accountants for all UMMH entities in preparation for external audit. Works closely with the auditors for interim, quarterly and annual audits.
• Prepares consolidated reports for tax purposes. Works with tax preparers on tax reports for all UMMH entities. Works closely with tax consultants throughout the 990 processes. Collaborates with other departments, including legal and compliance, to complete various tax schedules, complete conflict of interest disclosures, issues of governance, and report community benefits activities.
• Prepares, reviews and evaluates monthly contractual allowances and completes settlement and reserve analysis. Prepares payer revenue variance analysis. Performs financial modeling associated with net revenue budget reconciliations and related analysis. Provides technical analysis for the financial evaluation of new programs or services. Investigates and reports on current reimbursement developments on the State and Federal level. Ensures maximum payments through expertise of current payments systems and regulations.
• Serving as subject matter expert, interprets and applies current financial reporting standards and ensures departmental compliance. Plans and implements financial and statistical requirements in response to internal or external changes.
• Develops, prepares and retains essential documentation to support external compliance requirements of various regulating agencies. This includes, but is not limited to, adherence with the filing requirements of Bond Trustees, Internal Revenue Service, JCAHO and multiple agencies of the Commonwealth of Massachusetts including MA DOR, DPH and Secretary of State.
• Participates in performance improvement initiatives including compilation and interpretation of financial information for management decision making purposes. This includes trend analysis and interpretation and analysis of complex financial arrangements and business contracts. Identifies, communicates and resolves financial discrepancies.
• Maintains Reimbursement Analysis models.
• Monitors and communicates federal and state regulatory proposals and changes regarding healthcare reimbursement and providing effective solutions to address reimbursement issues.

Position Qualifications:

License/Certification/Education:

Required:

• Bachelor of Science or Business Administration degree.

Preferred:

• Master's degree in Business Administration, Health Care Administration or related field.
• Certified Public Accountant (CPA).

Experience/Skills:

Required

• A minimum of five (5) years recent accounting experience.
• Proficiency in Microsoft Office Suite programs (e.g. Excel, PowerPoint, Word, Access, Project) with expertise in modeling in Excel.
• Familiarity with data processing capabilities and procedures.
• Must be highly motivated and dedicated professional who demonstrates a strong commitment to excellence, customer focus, and understands the importance of accountability.
• Must have problem solving abilities, work independently and communicate effectively.
• Able to manage high quality and exceptional customer service in a fast-paced environment.

Preferred:

• Experience in a public accounting firm or non-profit healthcare environment.

• Working knowledge of Medicare Cost Report, preferred

Requires some flexibility to work off-hours as required to deploy systems, work with IS for system testing, upgrade testing, support customers, resolution of production problems, and respond to system emergencies.

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

We're striving to make respect a part of everything we do at UMass Memorial Health - for our patients, our community and each other. Our six Standards of Respect are: Acknowledge, Listen, Communicate, Be Responsive, Be a Team Player and Be Kind. If you share these Standards of Respect, we hope you will join our team and help us make respect our standard for everyone, every day.

As an equal opportunity and affirmative action employer, UMass Memorial Health recognizes the power of a diverse community and encourages applications from individuals with varied experiences, perspectives and backgrounds. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, gender identity and expression, protected veteran status or other status protected by law.

If you are unable to submit an application because of incompatible assistive technology or a disability, please contact us at talentacquisition@umassmemorial.org. We will make every effort to respond to your request for disability assistance as soon as possible.