Head of Finance and Business Strategy

Yale Health - Office of the Director

85717BR

University Job Title

Lead Administrator 4

Bargaining Unit

None - Not included in the union (Yale Union Group)

Compensation Grade

Administration & Operations

Compensation Grade Profile

Senior Leader (M8)

Wage Ranges

Click here to see our Wage Ranges

Searchable Job Family

Financial

Total # of hours to be worked:

37.5

Work Week

Standard (M-F equal number of hours per day)

Work Location

Central Campus

Worksite Address

55 Lock Street
New Haven, CT 06511

Position Focus:

In 1971, Yale University became one of the first universities in the U.S. to provide healthcare services to its faculty, staff, and students. Today, Yale Health, a not-for-profit organization, serves more than 47,000 members of the Yale community and their families with more than 150 board-certified healthcare providers. Most care and services are provided in our state-of-the-art, facility, with modern exam rooms, an Acute Care, an inpatient facility, a diagnostic imaging suite, and a full-service retail pharmacy.

Reporting to the Chief Executive Officer of Yale Health, the Head of Finance and Business Strategy is responsible for the following: Oversees the strategies for the organization’s financial resources, including contracting and managing vendor relationships related to administration, operations, and claims. This  includes needs assessments  and implementation of financials systems to drive the  operations of the organization. Brings industry expertise in negotiating and managing contractual relationships to optimize the university's healthcare costs. In collaboration with other leaders, develops business plans related to optimal provider network configuration for contemporary, cost-effective, high-quality care delivery. Reports dually to the central University finance Assistant Vice President, Financial Planning & Analysis, helping identify, mobilize, and optimize financial and other resources to help advance the mission of the University and Yale Health, ensuring compliance with university policies and procedures. Leads budget development across all departments to ensure fiduciary accountability and facilitates budgetary discretion to drive effective and efficient care delivery. This includes long and short range operational and capital budgets. Oversees the management and reporting of the annual operating budget. This includes leading development of budget and forecast tools, maintaining integrity of inputs and methods, and facilitating collaboration among  stakeholders. Provides executive-level dashboards and reporting and commentary to contextualize business performance. Working closely with other leaders using emerging results in forecasting and to achieve budget and forecast commitments. Develops and executes medical economic strategies to identify cost trends and opportunities for efficiency improvements. Use  internal and external resources to develop reimbursement policies, cost of care targets and related benchmarks. Ensures claims payment integrity by aligning appropriate resources and technology to consistently reimburse in accordance with industry standards and Yale Health coverage policies. Oversees audit processes to ensure claims cost leakage is appropriately minimized or avoided. Oversees trend analytics to understand cost drivers, root cause analysis, and develops a medical cost management process. Includes reporting of categorical medical cost vs. target. Collaborates with other leaders to ensure diverse input and effective cost containment strategies. Conducts periodic enterprise risk assessment and communicates risks and opportunities. Maintains appropriate internal controls to safeguard enterprise assets. Maintains business relationships with Yale University and School of Medicine as well as vendors such as Yale New Haven Health System. Leads business functions – accounting, billing, payment integrity and claims processing. Partners with the University Benefits Office and other financial stakeholders in the analysis and design of the University's health benefit plan. Provides plan design, modeling, and recommendations in support of Yale Health's clinical mission to its student population. Plans and directs system investments for cost and utilization management strategies. Create dashboards and user-friendly tools to provide insight into cost, clinical efficiency, and related effectiveness.

Essential Duties

1. Strategic Partner: Achievement of the organization’s mission and goals by working in close partnership with the organization leader, faculty, staff, students and service providers to develop and implement the organization’s strategy. Understands and monitors external and internal factors influencing the organization’s mission and goals. Plans for financial and non-financial resources required for the organization to achieve its goals. Supports organization and program leaders in conceptualizing, prioritizing, and planning new programs or program changes. Supports, and when necessary drives, the organization’s process for strategic planning with key faculty and staff. 2. University Citizen: Connects the organization and the University through communication, alignment of priorities, implementation of initiatives, and active engagement in organization or University administrative priorities. Effectively represents organization needs, challenges, and opportunities at the University level. Proactively shares knowledge and best practices with others. 3. Financial Analyst and Advisor: Provides comprehensive financial information, analysis and advice to optimize use of the organization’s financial resources. Creates and updates long range financial plan(s), reflecting all critical issues. Identifies available financial resources (current and future), and advises and deploys efficiently to best support organization objectives. Prepares all-funds budgets, analyzes financial activities and performance against budget, makes adjustments and takes action as needed. 4. Risk Management Administrator: Implements and maintains strong internal controls to provide reasonable assurance of effective and appropriate resource use, accurate financial information, adherence to contractual obligations and agreements, policies, procedures, and external regulatory requirements. Identifies, communicates, addresses and escalates risks in a timely and appropriate manner to protect the assets, resources, information and reputation of the organization and the University. Ensures all faculty and staff understand the regulations and Yale requirements as they pertain to their scope of activity. 5. Talent Manager and Developer: Ensures the organization employs effective practices for retaining, attracting and developing talent in line with University guidelines and contractual agreements. Ensures that all organization staff participate in the University’s performance management and career development processes. Ensures the needs of the organization’s current and future talent are assessed periodically and that issues are addressed, facilitating the movement of talent where appropriate and developing Business Operations staff. Cultivates a diversity of backgrounds and perspectives in the organization. Assures that the organization follows appropriate School and University policies and procedures related to Human Resources. 6. Administrative Services Leader: Ensures efficient and effective completion of all administrative and financial services provided to the organization. Ensures high quality delivery of administrative services by providers outside the organization, including human resources, information technology, procurement, student services, post-doctoral affairs and faculty affairs. Establishes, monitors, and meets or exceeds targets for operational excellence. Identifies and implements opportunities to achieve continuous improvement of processes. Responsible for building and managing a team of high-performance administrative and financial professionals. 7. May perform other duties as assigned.

Required Education and Experience

Minimum of a bachelor's degree and ten years progressively responsible experience 5 of which are in a leadership role; or equivalent combination of education and experience. Demonstrated fiscal responsibility and comprehensive knowledge of accounting, financial reporting and analysis. Demonstrated experience with complex strategic planning and resource allocation. Demonstrated experience in managing relationships and influencing outcomes. Demonstrated creativity and effectiveness in a complex organization. Demonstrated success in developing people and organizations.

Required Skill/Ability 1:

Broad view of the health plan ecosystem. Demonstrated industry expertise in managed care with broad knowledge of insurance function and program building. Extensive working knowledge of utilization management, provider contracting, and the health insurance business.

Required Skill/Ability 2:

Demonstrated executive level expertise leading financial programs within a managed care setting, preferably with contracting and rate setting within contracted networks. Proven ability to negotiate skillfully with both internal and external constituents.

Required Skill/Ability 3:

Well-developed managerial, decision-making, planning, organizational, problem-resolution and leadership skills. Demonstrated ability managing people in a matrix environment and inspire a high level of commitment and performance. Strong collaboration skills to work with internal teams to effectively understand issues and mitigate risks accordingly.

Required Skill/Ability 4:

Excellent written, oral communication and presentation skills. Ability to adapt communication style to address the needs of individuals and cultivate relationships at all levels throughout the University. Ability to collaborate effectively with clinical and operational leadership, management and staff at all levels.

Required Skill/Ability 5:

Demonstrated knowledge of the payor side of managed care, financial and IT industry trends and requirements for healthcare organizations. Demonstrated ability leading transformational projects. Visionary with ability to influence. Ability to generate a strategic vision and to influence people to achieve this vision.

Preferred Education, Experience and Skills:

Bachelor’s degree in accounting or finance required, Master’s Degree strongly preferred. 15+ years’ experience in health insurance finance and related roles; 10+ years of executive leadership experience; Business Development experience strongly preferred.

Weekend Hours Required?

Occasional

Evening Hours Required?

Occasional

Background Check Requirements

All candidates for employment will be subject to pre-employment background screening for this position, which may include motor vehicle, DOT certification, drug testing and credit checks based on the position description and job requirements. All offers are contingent upon the successful completion of the background check. For additional information on the background check requirements and process visit "Learn about background checks" under the Applicant Support Resources section of Careers on the It's Your Yale website.

COVID-19 Vaccine Requirement

The University maintains policies pertaining to COVID-19. All faculty, staff, students, and trainees are required to comply with these policies, which may be found here:
https://covid19.yale.edu/health-guidelines

Posting Disclaimer

The intent of this job description is to provide a representative summary of the essential functions that will be required of the position and should not be construed as a declaration of specific duties and responsibilities of the particular position. Employees will be assigned specific job-related duties through their hiring departments.

EEO Statement:

University policy is committed to affirmative action under law in employment of women, minority group members, individuals with disabilities, and protected veterans. Additionally, in accordance with Yale’s Policy Against Discrimination and Harassment, and as delineated by federal and Connecticut law, Yale does not discriminate in admissions, educational programs, or employment against any individual on account of that individual’s sex, sexual orientation, gender identity or expression, race, color, national or ethnic origin, religion, age, disability, status as a special disabled veteran, veteran of the Vietnam era or other covered veteran.

Inquiries concerning Yale’s Policy Against Discrimination and Harassment may be referred to the Office of Institutional Equity and Accessibility (OIEA).

Note

Yale University is a tobacco-free campus