Chief Financial Officer

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About This Role

Department

Administration

Reports to

Chief Executive Officer

Type

Full-Time

Requisition #

12659

Position Summary

Plans, organizes, and directs the fiscal services department, including the development, interpretation, coordination, and administration of the hospital’s policies on finance, accounting, insurance, financial / accounting systems, internal controls, and auditing. Highest level financial executive, reports directly to the CEO, and prepares monthly financial reports to the Board of Trustee’s. To protect and preserve the assets of the Organization, to provide financial guidance, counseling, and control of the hospital operations. Provides effective communication and updates to the Finance Committee and the Board of Trustees. Coordinates all accounting, financial and statistical reporting, admitting, provider contracting, billing, collecting and third party reimbursement activities within the Organization. Has the responsibility and oversight for Finance, Revenue Cycle, Payroll, Medical Records, and Materials Management Departments.

Essential Duties and Responsibilities

Evaluate overall financial position, recommend financial plans and budgets for board approval, and monitor expenditures against revenue.

Direct the development and planning of financial reporting systems.

Review effectiveness of financial and accounting systems, policies, and procedures; lead implementation of improvements.

Collaborate with senior leadership to develop major financial plans, including departmental budgets and revenue / expenditure programs.

Maintain departmental financial reports and records; collect statistical data for administrative and regulatory purposes.

Supervise and coordinate functions related to reimbursements, budget, patient accounting, general accounting (including A / P and A / R), and cashiering.

Prepare reports outlining the hospital’s financial position across assets, liabilities, income, and expenses, including historical and projected data.

Administer the billing and collections function to ensure timely procedures and prompt collections.

Administer the accounting function to ensure compliance with generally accepted accounting principles (GAAP) and timely, accurate financial reporting.

Conduct both short-term and long-term strategic financial planning.

Oversee and coordinate development of financial statements, budgets, forecasts, cash flow projections, and internal management reports.

Oversee cash management and short-term investments.

Negotiate with financial institutions to establish and maintain banking relationships and lines of credit.

Provide financial analysis and interpretation to support senior management decision-making.

Review and file all tax returns (federal, state, FICA, worker’s compensation, etc.).

Partner with General Management to control costs, evaluate and develop new projects, and design systems and departmental charge structures.

Evaluate and recommend changes to the organization’s rate structure and managed care contracts.

Participate in planning and discussion with management and the Board of Trustees on equipment purchases, lease arrangements, and construction projects.

Direct the development and implementation of new financial systems, policies, and procedures to support organizational growth.

Establish control plans through formal budget programs with performance measurement standards.

Evaluate organizational objectives and programs as they relate to third-party reimbursement and regulatory cost controls; report findings to management and the Board of Trustees.

Attend all regular Finance Committee and Board of Trustees meetings, and other committee meetings as required.

Interact with patients, physicians, employees, and visitors in a friendly and professional manner, promoting a positive organizational image.

Comply with the CHA Compliance Handbook, Code of Ethics, and all applicable statutes, regulations, and guidelines for federal and state programs, including reporting any suspected violations.

Perform other duties as assigned.

Qualifications

Bachelor’s degree in Business Administration, Accounting, or Finance from an accredited college is required.

Minimum of five years of hospital financial management experience is required.

Master’s degree in Healthcare Administration, MBA, CPA, or Fellowship in HFMA is preferred.

Prior experience as a hospital Chief Financial Officer in a complex healthcare organization is preferred.

Physical Requirements

While performing the duties of this job, staff is regularly required to sit, stand, walk, talk, and / or listen. He / she uses his / her hands to do computer work, write reports, do equipment set-up / cleaning / storage, clerical support, etc. He / she will be using the phone frequently. Good vision is needed to be able to read schedules, enter accurate data, etc. He / she must have good general health and demonstrate emotional stability so as to carry out the above-enumerated duties.

• Able to lift up to 30 pounds.
• Stand, walk, and move 50% of the day.
• Use proper body mechanics when handling equipment.

Compliance Requirements

Complies with Chinese Hospital Compliance Handbook including Code of Ethics and all statutes, regulations, guidelines applicable to federal and state programs. Responsibilities include, following the guidelines and reporting suspected violations of any statute, regulations, agreements or guidelines applicable to all healthcare programs.

Base Pay Scale

Starting at $220,000 – $350,000 per year. The salary of the finalist selected for this role will be set based on a variety of factors, including but not limited to, internal equity, experience, education, specialty and training. This pay scale is not a promise of a particular wage.

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