The Chief Financial Officer (“CFO”), directs the finance functions of the organization and is responsible for safeguarding the organization’s assets and ensuring the financial statements, including the books and records, are prepared and maintained in accordance with Generally Accepted Accounting Principles (GAAP). The CFO supervises a finance team inclusive of accounting, billing, financial eligibility, bookkeeping and payroll staff.
The Chief Financial Officer reports directly to the CEO and serves as member of the Senior Leadership Team (SLT).
• Responsible for the monitoring of financial performance and the maintenance of reasonable and appropriate financial plans and forecasts.
• Responsible for the monitoring of the revenue cycle process and, along with other revenue cycle stakeholders, the improvement of the revenue cycle process through rate setting, charge capture, managed care negotiations, and cash collections.
• Responsible for the identification and independent assessment of financial risk, establishing and monitoring of mitigation plans, and for the communication of financial risk and opportunity to the CEO and Board of Directors.
• Analyze daily operating results to ensure that revenues, expenses, and labor are within budgeted objectives; advise department heads and administration of needed changes and improvements in a timely manner.
• Establish and maintain sound financial controls and record keeping; approve financial expenditures up to the level established by the CEO and/or Board of Directors.
• Keep abreast of government regulatory requirements and the changing reimbursement environment to develop and implement changes to policies and procedures as needed.
• Ensure that the financial operations of the organization are carried out in an ethical, responsible manner.
• Establish and monitor the annual operating budget according to sound budgeting principles. Interface with Human Resources and other appropriate departments in the preparation of work force plans and salary and benefit proposals.
• Evaluate the organization’s overall financial position and prepare monthly financial and operating reports. Provide consistent and accurate financial, accounting and reporting processes throughout the organization.
• Prepare financial forecasts and monitor performance versus budget; consolidate results, prepare rolling 90-day forecasts, and develop and implement cash management controls.
• Coordinate with other senior members of the leadership team in the development of major strategic and financial plans, including capital expenditure programs.
• Review, evaluate and ensure the effectiveness of all financial and accounting systems in the organization. Direct the development and implementation of new systems, policies and procedures as required.
• Assist in the development of new business by analyzing the feasibility of new programs, including managed care contracts, alternative payment models and advise senior leadership of the financial prospects.
• Attend promptly to the administrative details of the position including the signing of documents, preparation of reports, completion of performance appraisals and other employee-related actions.
• Responsible for the preparation of grant budgets and program analysis, reports and expense tracking.
• Responsible for the accounting functions of Payroll, Accounts Payable, Accounts Receivables and the 340b program.
• Supervises patient financial eligibility screening staff and ensures process are efficient and well integrated/coordinated with clinical operations.
• Procures, monitors, and manages all insurance coverage including D&O, general liability, etc.
• Serves as executive liaison and staffs the Finance Committee of the Board of Directors.
• Performs additional duties of similar complexity within the organization, as required or assigned.
• Ability to convert complex finance, operational, and compliance issues into terms and concepts that are easily disseminated throughout all levels of the organization.
• Good organization skills with the ability to prioritize work load and successfully manage all financial activities. Resilience to working successfully under pressure.
• Acts ethically, responsibly and with upmost integrity at all times.
• Maintains the highest standards of conduct and serve as a model of professionalism for staff.
• Treats employees, patients and others with dignity and respect 100% of the time.
• Sets personal standards of behavior from work to social interactions that serve as model for others.
• Is a servant leader and understands the concepts of customer service with a smile.
• High level of skill at building business relationships and strategic partnerships with internal and external resources.
• Strong attention to detail and accuracy.
• Excellent verbal and written communication skills.
• Proficiency in the use of a computer and commonly used software packages.
• Ability to stay positive and motivated and act as a change agent for the organization.
• Ability to instill confidence, trust and respect with team.
PEOPLE/DEPARTMENT/BUSINESS UNIT MANAGEMENT
• Directs Finance Department operations and execution of initiatives, goals and programs.
• Manage implementation of new department initiatives and ensure coordination of strategy and initiatives.
• Adheres to all local, state, and federal regulations.
• Participates as member of Senior Leadership team.
• Provides oversight and direction to the company’s departmental efforts.
• Develops and oversees departmental strategy in support of CommUnityCare’s strategic plan.
• Selects personnel for hire and promotion; takes appropriate actions regarding counseling, disciplinary actions, demotion and termination.
• Directs, supports and coaches direct reports.
• Responds proactively to employee needs and concerns.
• Develops “experts” and “expertise” throughout the department and seeks employee input.
• Facilitates consensus among divergent groups.
• Minimizes staff turnover.
• Acknowledges and rewards employees’ strengths and accomplishments.
• Evaluates assigned staff performance and competency, providing direct feedback.
• Assesses learning needs, develops competency plans and provides opportunities for learning.
MINIMUM EDUCATION: Master’s degree in Accounting, Finance or Business Administration from an accredited college or university.
MINIMUM EXPERIENCE: At least ten years of progressive financial healthcare experience in the areas of general accounting; operations; financial systems; financial statement preparation; review and analysis; and multi-discipline management experience. Experience working in a complex organization (e.g. multiple locations and business units) and working for a nonprofit organization that receives federal funds.
PREFERRED EXPERIENCE: Successful experience as a Federally Qualified Health Center (FQHC) CFO. Experience working with senior executives and Board members in a demanding and dynamic business environment with access to highly confidential and proprietary information. Track record of building relationships and strategic partnerships with a variety of senior executives and Board members in a manner that establishes trust and credibility. Direct executive financial leadership experience/knowledge.