Senior Vice President and Chief Financial Officer

PURPOSE OF POSITION:
Reporting to the President and Chief Executive Officer, the Chief Financial Officer (CFO) is responsible for planning, organizing and providing administrative direction for assigned departments to assure the financial integrity for all transactions involving the delivery of services to patients, the procurement of goods and services, appropriate recording of transactions, payment systems for salaries/wages and benefits, collection of all funds due for services rendered, administration of third-party payment contracts and agreements. To protect the assets of the organization through sound budget programs, both operational and capital, install and monitor appropriate internal controls, policies and procedures and provide for adequate insurance for capital assets, operational needs, and general/professional liability. To assure compliance with all federal, state, and local regulations that impact healthcare finance.
The CFO is charged with supporting an environment that promotes collegiality, cooperation, and open lines of communication with patients, physicians, staff, and visitors. Attention is to be given to program development, process and operations improvement, quality, fiscal management, patient satisfaction/service excellence, compliance, physician relationships, outreach strategies, work culture enhancement, and effective communications.
The CFO is expected to take a leadership role in the finance, audit, compliance, and investment committee meetings of the Board.

MAJOR ACCOUNTABILITIES:

1. Provide Financial oversight to all Corporate Entities:

• Through subordinate financial management and staff, provide for financial administration, budgeting, control of assets, insurance, capital financing, working capital planning and cash flow plan for all corporate entities.
• Provide for timely issuance of financial statements that reflect the financial condition of all related organizations based upon generally accepted accounting principles.
• Provide for the safeguarding of corporate investments and the implementation of Board investment policies.
• Plan, initiate and direct all financial planning concerning disposing of assets, investments in programs and services, adjustments in authorized personnel compliment, and potential acquisitions and joint ventures.
• Provide for the timely completion of annual independent audit and audits by third party payors and Federal/State regulatory agencies that may be required. Work with Cape Cod Healthcare’s outside auditors to establish an auditing system that will ensure audit systems are working at a high level at all times.
• Provide for organization and maintenance of an effective system of accounting and cost determination.
• Continually review and modify revenue cycle systems to assure appropriate reimbursement for services rendered.

Staff Supervision:

• Direct and supervise assigned divisional activity through competent administrative staff.
• Promotes a collaborative and collegial work environment, emphasizing teamwork and integration; initiates and maintains good working relationships between departments and entities.
• Provide assistance in establishing department philosophy and objectives, determining staffing needs and standards of productivity; establishing policies and procedures; complying with Federal, State and Local codes, regulations, and ordinances.
• Consult with and advise direct reports on a regular basis; evaluate competence of work force and make changes as necessary.
• Attract, develop, and retain a team of highly capable and committed managers and staff that supports the CCHC brand and works to ensure the financial health and sustainability of the healthcare system; regularly evaluates performance and competencies, addressing issues in a timely and effective manner.

Inform and Advise Board:

• Working with the Finance Committee of the Board, provide education on constantly changing financial environment. Submit formal reports on estimated impacts of various legislative/regulatory statutes and regulations that impact rate setting, reimbursement, physician contracting, managed care contracting, budget planning, capital financing and pension issues.
• Implement short- and long-range plans and achieve the goals and objectives as set forth by the Board of Trustees.
• Advise President/CEO and the Board on all potential ventures, acquisitions, collective bargaining agreements and related issues that impact corporate finance.
• Report to the Board as needed on the Foundation’s financial condition. Actively participate in Board discussions regarding the organization’s financial affairs.
• Closely monitor the system’s investment portfolio and advise the President/CEO and the Board’s Investment Committee on fund performance, and recommend changes to the fund’s investment positions as needed.

Revenue Cycle Oversight:

• Maintain the organization’s commitment to improving revenue cycle operations in which the system has made significant investments to enhance the function.
• The CFO will maintain the organization’s commitment to improving the revenue cycle process and work diligently to ensure both front and back-office operations are at the cutting edge in process and delivery.

Integration of Health System with the Community:

• Hold informational meetings with hospital support groups, such as Auxiliary on healthcare financial issues.
• Actively participate in Civic/Human Services groups as the organization’s representative.
• Participate in conjunction with President/CEO in discussions with federal, state, and local officials regarding healthcare reimbursement policy.

Regulatory Compliance:

• Assure compliance with all regulatory agencies governing the financial issues related to healthcare delivery and the rules of accredited bodies by monitoring the financial functions and programs and initiating change where appropriate.
• Ensure that system programs, processes, and policies comply with federal, state, and local codes, regulations, and ordinances.

Professional Development:

• Maintain professional affiliations and enhance professional growth and development to keep up with the latest trends in healthcare administration and finance.

Performs Other Related Duties:

• As requested by the President/CEO and through the President/CEO from the Board of Trustees and the Finance Committee of the Board.
• Serves on a variety of affiliate and system-wide committees.
• Ensures that best practices are being employed at all levels of the organization/system.

KNOWLEDGE, SKILLS, AND ABILITIES:

• Bachelor of Science in Accounting, Finance, or related field is required; CPA and/or Master’s in Business Administration is desirable.
• A seasoned executive with a minimum of five years’ experience as a Chief Financial Officer, Vice President of Finance or Controller in a healthcare organization.
• A proven track record in improving the revenue cycle function, decreasing A/R, and managing cash flow.
• A visible leader and good communicator with a passion for engaging people to do their best work.
• A team player who is aware of the needs of other and acts as a resource and support for all departments.
• Demonstrated ability as a hands-on business partner to the President/CEO, the Board, and the senior management team.
• Experience with providing management with adaptive financial tools is essential, and the ability to translate financial data into useful management reports.
• A track record of outstanding achievement in fiscal management practices including revenue cycle design and management, systems implementation, cost control, strategic planning, and treasury.
• Experience in hiring, developing and motivating staff.
• High intelligence with ability to think in the unknown, conceptional ability, creative with people and words. Must be able to anticipate problems and needs of the future.
• Excellent attention to detail.
• High intensity, sound judgment and able to take direct, positive action where little or no precedent exists.
• A balance of fiscal and social values with understanding of political ramifications of work, know how to gain respect, can deal calmly in antagonistic situations, poised, professional and dignified. Excellent public/personal relation skills.
• Proven ability to work in a fast-paced, demanding environment under pressure for results; self-starter with a high energy level.
• Must possess strong financial, analytical, and negotiation skills; successfully has overseen major expense control endeavors.
• Tremendous leadership capabilities, including business acumen and collaborative style required.
• Critical thinker with ability to synthesize information, anticipate problems and develop solutions. Process oriented.
• Ability to work with a diverse workforce, to actively listen, build teams, motivate, and resolve conflict, deal calmly and with poise in antagonistic situations.
• Ability to communicate effectively, both written and verbally; excellent interpersonal skills.
• Solid understanding and appreciation of changes in healthcare, economic constraints, federal, state, and local regulations.
• Experience working effectively in a union environment.
• Experience with Epic.
• Advanced Technical Skills.
• Knowledge and experience with The Joint Commission, other regulatory agencies, federal, state, and local regulations and laws, unions, and negotiations.
• Able to participate in the role today, as well as make significant contributions in the future.

Skills

Hospitals And Health Care And Hospitals Finance