ED, Pharmacy Finance

By | January 20, 2023

ED, Pharmacy Finance

ED, Pharmacy Finance

Primary Location Downey, California

Job Number 1140556

Date posted 12/20/2022

Description:

Job Summary:
The overall financial well-being and viability of our company’s operations in the pharmacy will be monitored by the Executive Director, of Pharmacy Finance & Administration. The Finance Leader collaborates closely with the Vice President of Operations and the Executive Leadership Team to make business choices that maximize the use of our financial resources and community investments. She or he takes part in developing our strategic direction and competitive position in pharmacy operations, and she or he helps to form the company by monitoring the development and predicting the results of important operations in relation to predetermined goals. The financial leadership team for the entire Program benefits greatly from the work of the finance leader.
Three distinct roles are, in essence, assumed by this position: Strategic leadership, or the innovative application of financial and business intelligence, is crucial in assisting Pharmacy Operations in recognizing, assessing, and seizing market possibilities. The management of internal controls, patient business services, financial controls and reporting, financial risk management, business and financial systems, financial performance analysis, budgeting and forecasting, decision support, Medicare finance, and cost structure and cash flow improvements are examples of core financial operations. Business “ambassador,” i.e., exhibiting the self-assurance, commercial savviness, negotiating, interpersonal, and communication skills necessary to represent the Pharmacy Operations in crucial business relationships, relationships with crucial suppliers, business partners, and customers, and negotiations with these parties.

Significant Duties:

Strategic Planning: Develops the business units within Pharmacy Operations’ strategic direction in collaboration with others.

Develops the short- and long-term financial planning and budgeting processes for Pharmacy Operations evaluates the viability of plans, identifies significant risks, and connects these processes to the business’s strategic goal.

evaluates and supports market opportunities, such as new goods and business services, that enhance cost structure and competitiveness.

evaluates the terms, papers, and contracting techniques.

Plans efficient methods to compare financial performance to projections, including early “red lights” to spot possible gaps. Budgeting, forecasting, and financial controls.

Develops productivity and drug cost measures based on business drivers and make comparisons to outside standards.

gives regional partners advice on current drug price trends.

ensures the accuracy of all financial and reporting statements as well as measurement and control activities. ensures conformity to KP program accounting policies, legal, regulatory, and fiduciary standards, as well as generally accepted accounting procedures (GAAP).

evaluates and ensures adherence to internal regulations and corporate principles.

meets filing deadlines and continues to abide by legal requirements.

Reporting and Analysis: Encourages the creation and distribution of thorough driver-based reporting tools that show key KP leaders and regions the financial performance of pharmacies as well as related metrics, analytics, risks, and opportunities.

Participates in the creation, planning, implementation, and management of information systems to satisfy the program and operations of pharmacies’ demand for financial reporting.

acts as a business bridge between the Pharmacy Operations business unit and the program and organization when reporting financial statistics.

Business Development: Assists the Vice President of Pharmacy Operations in determining and creating the best financial arrangements by offering technical analytical help.

possesses the capacity to screen and assess potential business possibilities while working with others. contributes to the creation of a business case for new initiatives and tools.

Information systems: They guarantee the honesty of the pharmacy systems’ finances.

Knowledge of typical business finance IT architecture and systems is required.

Corporate/Regional Management: Takes part in all significant business decisions in order to optimize the value of Pharmacy Operations and program-wide financial resources as well as community investments.

Establishes trusting and productive connections with KP’s top financial decision-makers, such as the Senior Vice President of Finance and regional finance executives, in order to work together on matters of shared interest, best practices, and uniformity of accounting standards.

serves as a member of committees for programs or other significant strategic initiatives that have an impact on financial viability.

Financial Risk Management: Ensures maximum profits and points up opportunities for cost/productivity reductions.

Discussions are started, and the impact of financial risk is determined when creating new or examining current business procedures and risk linkages.

ensures the preservation and protection of current assets by putting in place suitable internal controls and risk management procedures.

Revenue Cycle: The revenue cycle function for pharmacies is overseen, and this includes copay, over-the-counter, and Medicare Part D regions.
initiatives with a focus on revenue optimization.

Project management: Evaluate the financial effects of new endeavors on operational effectiveness.

helps to convert evaluation findings into potential goals and initiatives.

 

Read also employees expected conduct for this job

 

Basic Qualifications:
Experience
  • Minimum eight (8) years of progressive experience in multiple functional areas and leadership roles.
Education
  • Bachelor’s degree in accounting or finance.
License, Certification, Registration
  • N/A

 

Additional Requirements:
  • Experience as the Finance leader in an executive team.
  • Experience in building and developing high performing finance teams, managing change, developing managers, and succession planning.
  • Experience implementing financial controls and reporting systems to improve management capabilities and results for local market and impact within a larger business unit.
  • Demonstrated track record in providing financial leadership in a decentralized and complex medium to large sized, matrixed business.
  • Ability to negotiate -win-win- situations as it relates to decision making.
  • Strong process improvement tendency inclusive of the application of information technology to streamline operations and maximize efficiency.
  • Understanding of Medicare Part D requirements.
  • Ability to build effective partnerships and influence other leaders and teams.
  • Ability to consistently demonstrate integrity, prudence, emotional intelligence, high energy, initiative, teamwork, and self-confidence.
  • Familiarity with governmental programs in the health care field, which will affect the financial operations of the business.
  • Dedication to diversity and inclusion.

 

Preferred Qualifications:
  • Experience in health care managed care or pharmacy environment highly desirable.
  • Master’s degree with a CPA or equivalent work experience preferred.

 

Primary Location: California, Downey, Downey Boeing – Independence Park
Scheduled Weekly Hours: 40
Shift: Day
Workdays: Mon-Fri
Working Hours Start: 12:01 AM
Working Hours End: 11:59 PM
Job Schedule: Full-time
Job Type: StandardEmployee Status: Regular
Employee Group/Union Affiliation: NUE Executives|NUE| Non-Union Employee
Job Level: Director/Senior Director
Department: Po/Ho Corp – BU & Finance Ops – 0308
Travel: Yes, 15 % of the Time

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