Are you considering a career as a Davita Division Finance Manager? Or are you aiming to enhance your understanding of what this role entails? You've come to the right place! This article provides a comprehensive overview of the Davita Division Finance Manager position, covering key responsibilities, required skills, career paths, and more. Let's dive in!

What Does a Davita Division Finance Manager Do?

The Davita Division Finance Manager plays a pivotal role in overseeing the financial operations of a specific division within Davita. This position demands a blend of analytical prowess, leadership skills, and a deep understanding of healthcare finance. Here’s a detailed look into the core responsibilities:

Financial Reporting and Analysis

At the heart of the role is the responsibility for accurate and timely financial reporting. The Finance Manager is tasked with preparing and analyzing financial statements, ensuring compliance with accounting principles (GAAP), and providing insights into the financial performance of the division. This involves:

• Preparing monthly, quarterly, and annual financial reports: These reports provide a snapshot of the division's financial health, highlighting key performance indicators (KPIs), revenue trends, and cost variances.
• Analyzing financial data: Delving deep into the numbers to identify trends, risks, and opportunities. This analysis helps in making informed business decisions and strategic planning.
• Ensuring compliance with GAAP and internal controls: Maintaining the integrity of financial data by adhering to accounting standards and internal control procedures. This is crucial for regulatory compliance and preventing financial irregularities.
• Developing and monitoring key performance indicators (KPIs): Identifying and tracking metrics that are critical to the division's success, such as revenue per patient, cost per treatment, and profitability margins. Regular monitoring helps in identifying areas for improvement.

Budgeting and Forecasting

Budgeting and forecasting are essential components of the Finance Manager's role. This involves creating realistic budgets, monitoring performance against those budgets, and developing accurate financial forecasts to guide future planning. Key activities include:

• Developing annual budgets: Collaborating with department heads to create comprehensive budgets that align with the division's strategic goals. This involves estimating revenues, expenses, and capital expenditures.
• Monitoring budget performance: Tracking actual results against budgeted amounts and investigating variances. This helps in identifying areas where spending is off track and taking corrective action.
• Creating financial forecasts: Developing projections of future financial performance based on historical data, market trends, and strategic initiatives. These forecasts are used for resource allocation, investment decisions, and strategic planning.
• Providing financial insights and recommendations to leadership: Communicating financial information to senior management and providing recommendations for improving financial performance. This involves translating complex financial data into actionable insights.

Financial Planning and Strategy

The Finance Manager contributes to the overall financial planning and strategy of the division. This includes:

• Analyzing potential investments and acquisitions: Evaluating the financial viability of new projects, investments, and acquisitions. This involves conducting due diligence, developing financial models, and assessing risks and returns.
• Developing long-term financial plans: Creating financial roadmaps that support the division's long-term strategic goals. This includes identifying funding needs, managing capital expenditures, and optimizing financial resources.
• Identifying opportunities for cost savings and revenue enhancement: Proactively seeking ways to improve the division's financial performance through cost reduction initiatives and revenue growth strategies.
• Working with senior management to develop and implement financial strategies: Collaborating with leadership to develop and execute financial strategies that support the division's overall objectives.

Team Leadership and Management

As a manager, this role involves leading and developing a team of financial professionals. Responsibilities include:

• Supervising and mentoring finance staff: Providing guidance, training, and support to finance team members. This includes setting performance goals, providing feedback, and conducting performance evaluations.
• Delegating tasks and responsibilities: Assigning tasks to team members based on their skills and experience, ensuring that work is completed efficiently and effectively.
• Conducting performance reviews and providing feedback: Evaluating the performance of team members and providing constructive feedback to help them improve their skills and achieve their goals.
• Fostering a positive and collaborative work environment: Creating a team culture that encourages teamwork, communication, and professional development.

Compliance and Audit

Ensuring compliance with regulatory requirements and managing audits are critical aspects of the role:

• Ensuring compliance with all relevant regulations and laws: Staying up-to-date with changes in healthcare finance regulations and ensuring that the division operates in compliance with all applicable laws.
• Managing internal and external audits: Coordinating and overseeing internal and external audits, providing necessary documentation, and addressing any findings or recommendations.
• Developing and maintaining internal controls: Implementing and maintaining internal control procedures to safeguard the division's assets and prevent financial irregularities.
• Working with auditors to ensure accurate and transparent financial reporting: Collaborating with auditors to ensure that financial statements are accurate, complete, and transparent.

Skills and Qualifications

To excel as a Davita Division Finance Manager, a specific set of skills and qualifications is essential. These include:

Education and Experience

• Bachelor's degree in Finance, Accounting, or a related field: A solid foundation in finance and accounting principles is crucial. Coursework in financial analysis, budgeting, and accounting is highly valuable.
• MBA or Master's degree in Finance is preferred: A graduate degree can provide a competitive edge, offering advanced knowledge and skills in finance and management.
• CPA (Certified Public Accountant) certification is highly desirable: A CPA certification demonstrates expertise in accounting and auditing, enhancing credibility and career prospects.
• 5-7 years of progressive experience in finance, with a focus on healthcare: Experience in the healthcare industry is highly valued, as it provides familiarity with the unique financial challenges and opportunities in this sector.
• Previous experience in a management role: Prior experience in a leadership position is essential for managing a team of financial professionals effectively.

Technical Skills

• Strong knowledge of GAAP (Generally Accepted Accounting Principles): A thorough understanding of GAAP is essential for preparing accurate and compliant financial statements.
• Proficiency in financial modeling and analysis: The ability to build and analyze financial models is crucial for evaluating investment opportunities, forecasting financial performance, and making informed business decisions.
• Experience with financial reporting systems (e.g., Hyperion, SAP): Familiarity with financial reporting systems is necessary for generating and analyzing financial data efficiently.
• Advanced Excel skills: Proficiency in Excel is essential for data analysis, budgeting, and financial modeling. This includes the ability to use advanced functions, create pivot tables, and develop macros.
• Knowledge of healthcare finance regulations and reimbursement models: Understanding healthcare finance regulations and reimbursement models is crucial for navigating the complexities of the healthcare industry.

Soft Skills

• Excellent analytical and problem-solving skills: The ability to analyze complex financial data, identify trends, and develop solutions to financial challenges is essential.
• Strong communication and interpersonal skills: Effective communication is crucial for conveying financial information to senior management, collaborating with team members, and building relationships with stakeholders.
• Leadership and team management skills: The ability to lead, motivate, and develop a team of financial professionals is essential for achieving departmental goals.
• Ability to work independently and as part of a team: The capacity to work autonomously and collaboratively is important for success in this role.
• Strong attention to detail and accuracy: Accuracy is paramount in financial reporting and analysis, making attention to detail a critical skill.

Career Path

The Davita Division Finance Manager position can serve as a stepping stone to various career opportunities within Davita or other healthcare organizations. Here are some potential career paths:

• Senior Finance Manager: With experience and a proven track record, a Finance Manager can advance to a Senior Finance Manager role, taking on greater responsibilities and overseeing larger teams.
• Director of Finance: This role involves leading the finance function for a larger division or business unit, with responsibility for strategic financial planning and decision-making.
• VP of Finance: A VP of Finance is a senior leadership position responsible for overseeing all financial activities within a division or the entire organization.
• CFO (Chief Financial Officer): The CFO is the top financial executive in the company, responsible for overall financial strategy, planning, and reporting.
• Other leadership roles within Davita: Opportunities may also exist in other areas of the organization, such as operations, strategy, or business development.

Day-to-Day Activities

So, what might a typical day look like for a Davita Division Finance Manager? Here’s a glimpse:

• Morning: Reviewing financial reports, analyzing key performance indicators, and preparing for meetings with senior management.
• Mid-day: Meeting with team members to discuss projects, provide guidance, and address any issues. Working on budget revisions or financial forecasts.
• Afternoon: Participating in strategic planning meetings, analyzing potential investments or acquisitions, and working on compliance-related tasks.
• Evening: Reviewing and approving financial transactions, preparing presentations for senior management, and catching up on industry news and regulations.

Why Choose a Career as a Davita Division Finance Manager?

Choosing a career as a Davita Division Finance Manager offers several compelling benefits:

• Impactful Work: You'll play a crucial role in ensuring the financial health and stability of a division within a leading healthcare company, directly impacting patient care and outcomes.
• Career Growth: Davita provides ample opportunities for professional development and advancement, allowing you to grow your skills and progress in your career.
• Competitive Compensation: Davita offers competitive salaries and benefits packages, recognizing the value and expertise of its employees.
• Meaningful Contribution: You'll be part of a team that is dedicated to making a positive difference in the lives of patients and communities.
• Dynamic Environment: The healthcare industry is constantly evolving, providing a dynamic and challenging work environment that keeps you engaged and learning.

Final Thoughts

The role of a Davita Division Finance Manager is both challenging and rewarding. It requires a unique blend of financial expertise, leadership skills, and a passion for healthcare. If you're looking for a career where you can make a meaningful impact, contribute to a dynamic organization, and grow professionally, this could be the perfect fit for you. By understanding the responsibilities, skills, and career paths associated with this role, you can make an informed decision about whether it aligns with your career aspirations. Good luck on your journey!