14 hours

PHARMACY INVENTORY FINANCIAL ANALYST (FULL-TIME, DAY SHIFTS)

University of Washington
Seattle, WA
  • Job Code
    168994
  • Jobs Rated
    37th
UW Human Resources

PHARMACY INVENTORY FINANCIAL ANALYST (FULL-TIME, DAY SHIFTS)

Req #: 168994
Department: UW MEDICAL CENTER PHARMACY
Job Location: UW Medical Center
Posting Date: 11/07/2019 
Closing Info: Open Until Filled 
Salary: Total compensation is competitive. Salary is commensurate with experience and qualifications. 
Shift: First Shift 

Join our award-winning team at University of Washington Medical Center (UWMC). Among the top medical centers in the United States, and ranked as the number 1 hospital in Washington State, as rated by U.S. News & World Report 2018-2019 "America's Best Hospitals", UWMC prides itself on compassionate patient care as well as its pioneering medical advances. UWMC is operated by the University of Washington (UW) and serves as a training site for UW’s School of Medicine.

The UW is proud to be one of the nation’s premier educational and research institutions. Our people are the most important asset in our pursuit of achieving excellence in education, research, and community service. Our staff not only enjoys outstanding benefits and professional growth opportunities, but also an environment noted for diversity, community involvement, intellectual excitement, artistic pursuits, and natural beauty. As an employee you will enjoy generous benefits and work/life programs. For a complete description of our benefits for this position, please view this page.

UWMC Pharmacy has an outstanding opportunity for a FULL-TIME PHARMACY INVENTORY FINANCIAL ANALYST (Day Shifts).  The Pharmacy Inventory Financial Analyst will provide financial leadership for pharmacy inventory and expense management for both the University of Washington Medical Center (UWMC) and Harborview Medical Center (HMC).  The hospitals hold $17M of inventory and spend over $150M on pharmaceuticals annually. This position will oversee all financial aspects of a newly implemented supply chain system including:

• Management of all financial processes including the development of tools, reports and analytics to monitor and improve supply chain metrics
• Project management and coordination with pharmacy operations, system analysis and external software vendors to achieve system efficiencies and ensure the financial integrity of the system
• Coordination and communication with health system leadership, finance and auditors related to inventory, expenses and related financial reporting

This Pharmacy Inventory Financial Analyst must have expert level understanding of Elite pharmacy supply chain software, a new developed supply chain system in its first use at UWMC and HMC. It also requires understanding of related systems for EDI and PO splitting. This position will need to use these systems to streamline financial work flows and optimize system performance to assure the accuracy of transactions and reports. Strong facilitation skills are required to work across multiple systems, with multiple vendors and pharmacy sites to streamline processes for this integrated system.

This position requires strong accounting, IT and communication skills in order to troubleshoot issues and communicate financial performance. Pharmacy drug expenses directly impact hospital profitability, and initiatives to control drug costs are a major focus of the health system. The financial impacts of these initiatives are communicated at least monthly to senior health system leadership and it is critical to identify and analyze financial issues in real-time for escalation and resolution. This position is responsible for the creation of reports and processes that can be used for routine reporting to leadership. Pharmacy is a large, complex department that maintains a formulary of approximately 5000 drugs supplied by 40 vendors under a variety of contract terms.  UWMC and HMC serve a complex set of patients who use high cost, difficult to procure drugs, many of which are in short supply nationally.  This dynamic environment requires consistent financial oversight and analyses. 

DUTIES AND RESPONSIBILITIES:

Inventory Control and Valuation Management:
• Develop expert-level understanding of Elite system configuration and workflow, as it relates to ensuring data integrity. Maintain system configuration for key master records, including but not limited to:  Organization, Item, Vendor and Customer
• Monitor Elite inventory levels.  Support development of key supply chain performance indicator (KPI) goals.  Ensure appropriate monitoring and reporting of actual results against goals to leadership.
• Lead audit inventory movement processes and identify inconsistencies that affect inventory accuracy.  Ensure appropriate internal control processes are in place across the procurement and inventory management functions.
• Ensure accurate inventory valuation through daily monitoring of transactions and activity impacting average cost.  Process invoice adjustments and customer pricing maintenance where needed.
• Ensure system-wide policies and procedures are in place and consistently practiced.
• Identify and advise on root causes of inventory discrepancies or unusual variation and propose corrective actions. Coordinate monitoring and resolution of transactions throughout the month that would prevent period end close. Provide staff and manager education as needed
• Coordinate the financial activities related to the annual physical inventory count for both Elite and non-Elite inventory locations, ensuring adjustments reflecting accurate on-hand balances are recorded in Elite where applicable and are communicated to UWM Accounting.

Inventory Reporting & Analysis:
• Lead and perform trend and variance analysis around inventory levels and Cost of Goods Sold (CGS).  Research and respond to questions from Pharmacy leadership or UWM Accounting regarding trends or activity variation.
• Prepare and distribute inventory reports / dashboards for Pharmacy, Operations and Finance stakeholders.
• Provide support in the form of reports or analysis as needed for the month-end close or the annual financial audit.

Accounting:
• Establish annual and monthly reporting periods for each fiscal year in Elite and manage system-wide closing calendar.  Communicate timeline expectations for recording receipts, issues, transfers and adjustments to Elite system users. Oversee financial transactions recorded by pharmacy staff and advise of system or process changes.
• Lead and perform synchronized, system-wide period close for Elite inventory, including preparing journal Cost of Goods Sold (CGS) entries, validating account balances and analyzing results.
• Ensure all Elite-related balance sheet accounts are reconciled on a monthly basis.
• Ensure that monthly invoices to customers are generated and distributed.
• Ensure completion of Elite billing to FASTRANS by 1st business day of month, researching and resolving any failures.
• Oversee the monthly G/L interface and period-end reports.  Archive / share w/ UWM Accounting.
• Collaborate with UWM Accounts Payable or Accounting where needed on correct classification of transactions to ensure alignment between Elite and the UWM General Ledger.

Procurement Support:
• Manage the invoice processing for Elite and non-Elite purchases.  Develop processes and tools to improve invoice and payables processing. Communicate and escalate discrepancies as required.
• Serve as liaison between Procurement, UWM AP and vendor as needed for research and resolution of payment-related issues.
• Collaborate w/ UWM AP on appropriate Sales / Use Tax treatment.  Ensure appropriate taxability status is reflected within Item set-up.
• Collaborate with UWM Accounting in monitoring / reconciling the accrued vendor payable balances reflected on the hospitals’ books.  Note that accruals or re-classes may be needed in HEFM due to vendor match issues. 

Process Improvement & Other:
• Future development of ABC classification resource in Elite.
• Play a lead role in design, testing and implementation of process or system improvement updates.  Ensure change management controls are in place from an end-to-end perspective, inclusive of interfaces and reporting.
• In collaboration with UWM Accounting’s GL Integrity Manager, ensure business process changes occurring within Accounting or in Pharmacy are accounted for w/in the Elite and HEFM system configurations in support of clean integration and reporting.
• Lead sunset of the Floor Stock Database (FSDB) as other hospitals, locations or clinics implement Elite.
• Other duties as assigned.

DESIRED:
• Strong analytical and troubleshooting skills; ability to analyze data and get measurable results
• Commitment to completing tasks with great attention to detail and with a routine, critical self-review
• Ability to take initiative in acquiring new skills and increasing proficiency for personal effectiveness
• History of successful interaction with all levels of personnel within an accounting department
• Effective communication with internal as well as external customers
• Record of strong analytical and critical thinking skills being practically applied
• Personal philosophy of continuous process improvement
• Proactive; anticipates problems and seeks solutions
• Effectively manages diversity in the workplace
• Highest integrity
• Values UW Medicine’s mission
REQUIREMENTS:
• 6-8 years working in a Program Analyst, Financial Analyst, or related role, demonstrating familiarity with supply chain and inventory systems, accounts payable process flows and functions
• Bachelor’s degree in Business or related field
• Advanced skill level using ERP applications and supporting software programs, including Excel, Word, Access and report writers
• Pharmacy inventory experience is strongly preferred
• Familiarity with inventory accounting requirements is strongly preferred
• An equivalent combination of education and experience will be considered

CONDITION OF EMPLOYMENT:
UW Medicine is committed to being a drug-free workplace. We require a pre-employment drug screen and background check. The use of marijuana for medical purposes accompanied by a prescription, even if permitted by state law, will not be considered acceptable for purposes of explaining a positive lab test result for marijuana.

Committed to attracting and retaining a diverse staff, the University of Washington will honor your experiences, perspectives and unique identity. Together, our community strives to create and maintain working and learning environments that are inclusive, equitable and welcoming.

The University of Washington is a leader in environmental stewardship & sustainability, and committed to becoming climate neutral.

The University of Washington is an equal opportunity, affirmative action employer. To request disability accommodation in the application process, contact the Disability Services Office at 206-543-6450 / 206-543-6452 (tty) or dso@uw.edu.


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Jobs Rated Reports for Financial Analyst

Posted: 2019-11-13 Expires: 2019-12-13

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PHARMACY INVENTORY FINANCIAL ANALYST (FULL-TIME, DAY SHIFTS)

University of Washington
Seattle, WA

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