You are viewing a preview of this job. Log in or register to view more details about this job.

Financial Services - 2022 Summer Internship Program

Financial Services - 2022 Summer Internship Program
What is Financial Services?
The IU Health System Financial Team provides financial management support and oversight for all financial matters across the system. In general, system financial teams support IU Health as good stewards of financial resources to ensure our mission is funded and future healthcare needs are met.
Our goal at IU Health is to provide you a deeper understanding of one of the teams below that matches your interests with our needs, in addition provide you high-level exposure to all System Financial Team areas in our organization.
Which Finance area speaks to you?
·        Responsible for the cash, interest rate derivatives, debt, and investment management programs
·        Manages traditional corporate finance roles such as credit rating, borrowing rates, fees for services, debt issuance costs, and balance sheet risk
·        Interacts with investment banks and fund managers

Strategic Financial Planning and Analysis
·        Uses data to guide the allocation of IU Health’s resources in employees, finances, and facilities/equipment across the system
·        Manages annual financial planning and long-range planning strategy
·        Forecasts project pro forma cash flows (IRR and NPV)
·        Provides IU Health leaders with performance reports to identify opportunity for a number of revenue-generating and expense management initiatives

General Accounting
·        Supports IU Health’s business units with monthly reporting on financial performance
·        Performs financial planning and pro forma development
·        Offers training and support to department leaders in managing their budget
·        Evaluates risk management, internal control systems, and governance for improvement in efficiency and effectiveness of IU Health’s operations
·        Ensures IU Health’s compliance with federal, state, and local laws and regulations for many tax areas, including payroll, sales and use tax, property tax, income tax, etc.
Internal Audit
Participates in a broad-based Internal Audit program that evaluates the efficiency and effectiveness of IU Health’s operations. Responsibilities will include but not be limited to:
·        Conducts independent risk assessments
·        Applies internal control frameworks and related leading practices to audit engagements
·        Evaluates the design and operating effectives of internal control systems, including Internal Control over Financial Reporting (ICFR)
·        Performs audit procedures, including identifying and defining issues, reviewing and analyzing evidence and documenting client processes and procedures
·        Identifies, develops, and documents audit issues and recommendations for improvement
·        Assists in communicating the results of audit and consulting engagements via written reports and oral presentations
Revenue Cycle Services
  • Supports all financial aspects of a patient’s care including clinical support and payor (insurance) relationships in optimizing revenue and patient support 
  • Provides billing and collections services to ensure quality patient financial services
  • Offers a personalized cost estimate service to support patients in making informed decisions regarding their care before they receive healthcare services
Corporate Real Estate & Asset Management
  • Manages more than seven million square feet of space in our non-hospital facilities across the system
  • Prepare acquisitions and perform a lease vs buy analysis
  • Offers real estate leasing and property management services as well as support for space planning
  • Provides cost management services, such as billing, allocations, and budgeting for rented spaces
What could you be doing as a finance intern at IU Health? A couple examples:
·        Analyze data for interpretation, reporting, and modeling
·        Prepare pro forma (future cost estimates) based on historical, comparative, and projection data
·        Interpret trends or patterns in complex data sets with a high degree of accuracy
·        Monitor and process general ledger, payroll, and patient activities for patient costing
·        Gather expertise around SQL, Oracle, Power BI, and Excel modeling to support ongoing analytics initiatives

How can you help in the mission of IU Health’s Financial Services?
All interns are not only assigned to a specific area, but also a specific project that the team is working on to fully experience the application of the tasks involved. Interns will collaborate with leadership and other team members during their time spent with the System Financial Team.
Interns will actively participate in team meetings and report out on assigned projects. They will be responsible for items such as data collection, managing project logistics, preparing project materials, and communicating across multiple teams. Assignments are comprised of exposure to many parts of the business function, providing the opportunity to gain healthcare industry knowledge and network with executive leadership at IU Health.