Chief Financial Officer

Job Summary The Chief Financial Officer (CFO) serves as a member of the senior leadership team and provides financial expertise and decision support through analysis, budget development, and strategic planning. The CFO also supports the President/CEO as well as any owners or managers in financial matters and financial reporting. The Chief Financial Officer provides financial leadership to the areas of financial reporting, managed care contracting, revenue cycle, and budgeting, as well as treasury functions, including capital planning and taxes. The Chief Financial Officer communicates the strategic financial direction of the Hospital to other senior executives within the organization, the Board, and appropriate external parties including the capital markets. Under the administrative direction of the President and Chief Executive Officer, the CFO will have primary accountability for generating insights and creating transparency into historical, current, and forecasted financial performance, including ensuring that processes are in place to monitor and achieve the hospital's EBITDA and growth targets, and processes for financial accountability. The CFO is responsible for the oversight of financial reporting for the hospital, ensuring the integrity of the general ledger, accounts payable, and payroll functions, productivity management, revenue cycle, and Medical Records. Essential Functions Managerial responsibilities for general accounting, budgeting, government reimbursement, including supplemental government programs such as DSH, County Option, and Charity Care. Accurate timely financial reporting & the safeguarding of assets for the hospital. Participates as a member of executive management in the planning & execution of strategic & tactical initiatives. Creates and maintains an operational budget (Bridge) and financial budget and holds business owners accountable for performance. Oversees Payroll, Labor Management, Position Control, and Productivity and holds Department Heads accountable to performance standards. Participates in and advises related to annual insurance contract negotiations or renewals (Health Benefits, Commercial Insurances, etc.) Review and approves contracts executed by the hospital. Monitors all financial agreements that may be entered into by the Hospital with various financing entities. Maintains compliance with restrictive covenants in the financing documents and informs Manager when those covenants cannot be maintained. Maintains the records of the Hospital in accordance with Generally Accepted Accounting Principles and prepares periodic financial reports for the Chief Executive Officer and other members of management. Communicates the financial performance of the organization to the management team of the hospital on a monthly and quarterly basis. Ensure that all regulatory filings are completed and filed in a timely fashion. Reviews and maintains oversight of the accounts payable/payroll and treasury functions for the Hospital; maintaining cash projections weekly to ensure the financial viability of the Hospital. Knowledgeable of reimbursement practices and keeps current with reimbursement changes and the potential impact on hospital operating performance. Strong CFO experience with an accounting background, financial statement expertise, and strong revenue cycle experience Participate in key meetings to include but not limited to: Quality and Performance Improvement, Denials Committee, Utilization Review, Joint and Spine, Senior Leadership Team, Weekly Metrics, Payroll Review, Weekly AP, and Position Control. Other Duties Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time, with or without notice. Minimum Education/Certifications Bachelor's Degree Master's Degree preferred Certified Public Accountant preferred Minimum Work Experience 10 Years of Management Experience in a Hospital or an equivalent Healthcare industry position. Experience in leadership with strong interpersonal skills and a proven track record of success with financial reporting and hospital operational financial management.

Created: 2024-11-02