This position serves as the Business Manager 1 for the departments in the School of Medicine. This position is part of the SOM Finance & Business Operations Service Center and will provide direction and consultation on complex financial management issues to assigned departments. The Business Manager will participate in reviewing business processes for finance and research as well as funding issues in the SOM. This position will focus on contracts and grant reporting and will work with departments to ensure that funds are utilized correctly. This includes the analysis of financial reports, monitoring contracts and grants data, and expenditure analysis, and overseeing budget reviews for all the clinical departments. This position requires excellent problem solving, analytical thinking, decision making, customer service, negotiation, and consulting skills. The work is complex and requires the preparation and execution of various budget types and all-funds budgeting across a large number of accounts and reporting formats.
The Business Manager will oversee the Budget Analysts who are responsible for all financial transactions from diverse funding sources, including state, state receipts, facilities & administration, contracts & grants, gifts (endowed and expendable), and other institutional trust funds. The position exercises judgment in selecting funding sources and managing the departments' portion of financial commitments distributed to the units annually. Using extensive knowledge of programs, concepts, and practices of the units in the Clinical departments, the Business Manager guides, directs, and coaches unit employees regarding practices and interpretations on complex issues. They also identify and resolves issues with financial mismanagement or unfavorable trends, which may include designing or modifying specific accounting procedures and/or systems.
The position is also responsible for overseeing and performing budget reviews for all the Clinical departments, a process that must occur annually. The budget review process includes gathering data over five years, projections for current and next fiscal years. This position has to determine financial stability, allocations, spending, carryover, and faculty funding/one-time payments. Also, the Business Manager will examine faculty funding and send reports to assigned units.