Financial Specialist

Apply Now

Job Summary

A cover letter and resume are required for consideration for this position. Please include the cover letter as the first page of your resume. It should specifically address your interest in this position and outline particular skills and experiences directly related to the position.

Founded in 2011, the Institute for Healthcare Policy & Innovation (IHPI) is the nation's largest university-based institute of health services researchers and health policy experts. IHPI advances the work of its 825+ faculty members by creating a welcoming and supportive research community, including networking and engagement opportunities, education and professional development programs, access to data and analysis, grant development services, and robust communications and policy engagement support.

IHPI is seeking an experienced business professional to support its day-to-day financial and research administration transactional responsibilities. As part of the IHPI administrative team, this position will report to the IHPI Senior Finance Lead and collaborate closely with all of IHPI's functional teams, along with other centers, institutes, and academic departments. The position is a vital role that will assist with key financial responsibilities needed to facilitate Institute viability and financial stewardship. The optimal candidate will be highly organized and must be able to operate efficiently in a fast-paced environment while effectively prioritizing various daily responsibilities. This position requires the ability to provide high-quality customer service while adhering to differing procedural guidelines, and have the ability to meet deadlines, while working autonomously in partnership with the Senior Finance Lead. This position is for a one-year term limited position, with the option to renew if needed and if funding permits.

Organizational Summary

For more than a decade, IHPI has brought together faculty from diverse fields of study across all three U-M campuses. The Institute's staff team is also interdisciplinary and includes statisticians, data analysts, project managers, communicators, administrative specialists, and education professionals.

Mission Statement

IHPI's mission: to foster innovative, interdisciplinary research to inform policies and practices that advance the quality, safety, and affordability of healthcare, and improve health for individuals, families, and communities.

Our vision: the IHPI community strives to improve health and well-being throughout Michigan, our nation, and the world through collaborative research and learning, rigorous evidence, robust communication, and policy engagement.

Michigan Medicine improves the health of patients, populations, and communities through excellence in education, patient care, community service, research, and technology development, and through leadership activities in Michigan, nationally, and internationally.

Our mission is guided by our Strategic Principles and has three critical components: patient care, education, and research that together enhance our contribution to society.

Responsibilities*

Responsibilities will include, but are not limited to:

Financial analysis and reporting:

• Utilize monthly statement of activity reports to update project and program budget tracking spreadsheets, maintain and improve models in support of financial decision-making processes, and participate in long-range forecast exercises. Work with Medical School finance to troubleshoot identified financial issues.
• Process financial transactions such as accounts receivable, journal entries, and non-PO vouchers. Partner with U-M Shared Services and utilize existing financial transaction services to improve unit transaction efficiencies.
• Monthly review of statement of activity, detail, and gross pay register statements to verify accuracy.
• Track staff effort to assist with budgeting and create personnel action requests (PARs) in the Human Resources system for numerous FTE related transactions.
• In collaboration with the UMMS Grant Services & Analysis Office, coordinate pre- and post-award research needs and financial transactions, including working closely with IHPI strategic initiative teams to prepare grant proposal budgets and narratives, effort reviews with IHPI team managers for many IHPI staff with complex multi-fund funding arrangements, and providing project financial analysis and advising.

Forecasting and budgeting:

• Prepare annual multi-fund budget templates and work closely with the Senior Finance Lead throughout the entire budget process, including collaborating with IHPI functional teams and preparing materials for IHPI and Medical School leadership.
• Work with IHPI functional teams to understand budget expense variances and provide guidance on appropriate budget and shortcode utilization.

Compliance:

• Assist in the execution of the annual Internal Controls Certification and update of departmental documentation.
• Partner with U-M Procurement to develop and process vendor contracts/agreements. Process vendor invoices through the creation of requisitions/purchase orders; reconcile invoices against agreements and project budgets.
• Serve as a go-to resource for travel and expense guidelines for the department and review expense reimbursement and procurement card reports in the travel and expense reconciliation system.

Other:

• Prepare MOUs to document and track Institute commitments.

Other analysis and duties as assigned by the Senior Finance Lead and/or the Director and Managing Director of IHPI

Required Qualifications*

• Bachelor's degree in Business with a specialty in Accounting, Finance, or other related business fields, plus 2+ years of related finance or budget management experience.
• Excellent time management skills, with the ability to work on simultaneous deadline-driven projects.
• Effective spoken and written communication skills.
• Highly organized and attentive to detail.
• Excellent work ethic, positive attitude, and willingness to learn.
• Ability to interact with and build professional relationships with individuals at all levels.
• Exceptional interpersonal skills and the ability to work independently and take initiative, as well as work within a team, with minimal supervision.
• Forward-planning skills and the ability to efficiently and effectively prioritize and problem solve.
• Demonstrate proficiency in Microsoft Office (Word, Excel, and PowerPoint) and file storage portals, as well as web-based tools and similar software.

Desired Qualifications*

• Familiarity with UM budget and expense accounting models and processes, and the capability to generate journal entries, create and distribute financial reports, and develop custom reports as requested.
• Familiarity and experience with University administrative and business tools such as Finance BI, Business Objects, MReports, and other MPathways systems, and Emburse.

Why Join Michigan Medicine?

Michigan Medicine is one of the largest health care complexes in the world and has been the site of many groundbreaking medical and technological advancements since the opening of the U-M Medical School in 1850. Michigan Medicine is comprised of over 30,000 employees, and our vision is to attract, inspire, and develop outstanding people in medicine, sciences, and healthcare to become one of the world's most distinguished academic health systems. In some way, great or small, every person here helps to advance this world-class institution. Work at Michigan Medicine and become a victor for the greater good.

What Benefits can you Look Forward to?

• Excellent medical, dental, and vision coverage effective on your very first day
• 2:1 Match on retirement savings

Modes of Work

Positions that are eligible for hybrid or mobile/remote work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment. Learn more about the work modes.

Work Locations

2800 Plymouth Rd, NCRC 16

Additional Information

Positions that are eligible for the hybrid work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment.

Background Screening

Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third-party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.

Application Deadline

Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled any time after the minimum posting period has ended.

U-M EEO Statement

The University of Michigan is an Equal Opportunity Employer. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants, including protected veterans and individuals with disabilities.