Chief Financial Officer (CFO)

About the Role

The Chief Financial Officer (CFO) - Facility drives key strategic initiatives for a facility or multiple facilities, providing oversight of all financial operations and operational performance.

Responsibilities

• Administer the general accounting, patient business services (including third-party reimbursement), financial, and statistical reporting functions of the hospital in accordance with established policies and accounting procedures.
• Provide formal or informal direction in data processing, distributed systems, material management, and medical records functions.
• Train subordinates in financial areas and monitor performance to ensure fiscal responsibilities are fulfilled.
• Assist the Chief Executive Officer (CEO) in developing long- and short-range hospital operations plans, including service demand analyses, resource availability analyses, and cost-benefit analyses of proposed capital and staff expansions.
• Develop long- and short-range operational and capital budgets supported by the hospital’s plans and objectives.
• Prepare cash flow analyses, budget variance analyses, and make recommendations on budget modifications as required.
• Assist managers in the development of departmental budgets and the budget process.
• Monitor, interpret, and analyze hospital financial performance to identify undesirable trends and potential business opportunities, making recommendations for action.
• Direct the preparation of internal financial reports, including work papers for the annual financial audit.
• Ensure the timely and accurate preparation of financial reports that reliably reflect the hospital’s financial position.
• Analyze and explore means of reducing hospital operating costs and increasing revenues based on market trends, financial reports, and operating procedures.
• Direct and submit, on a timely basis, all financial data and associated reports required by government and other regulatory agencies, including payroll tax reports, public disclosure reports, and third-party payor cost reports.
• Maintain regular and reliable attendance.
• Perform other duties as assigned.

This position serves both internal co-workers and external customers, clients, patients, contractors, and vendors. Access to and/or works with sensitive and/or confidential information. Requires a comprehensive understanding of healthcare regulatory and compliance (e.g., HIPAA).

Supervisory Responsibilities

• Manage the work of others, including planning, assigning, scheduling, and reviewing work to ensure quality standards.
• Responsible for hiring, terminating, training, developing, reviewing performance, and administering corrective action for staff.

Requirements

• Bachelor’s Degree in Accounting or Finance; Master’s Degree preferred.
• Minimum 15 years of experience, with at least 3 years at the CFO level in an acute-care hospital.
• Certified Public Accountant (CPA) certification and license preferred.

Skills and Abilities

• Business Mathematical Skills: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rates, ratios, and percentages and to draw and interpret graphs.
• Advanced Computer Skills: Routine use of electronic mail and computer systems. Ability to incorporate complex functions into documents, spreadsheets, databases, and presentations to support business objectives.
• Organizational Communication: Handles broad-based, complex information across departments with company-wide impact. Presents to diverse audiences and can negotiate, motivate, and persuade others.
• Organizational Business Problems: Addresses broad, complex, and abstract problems with company-wide implications. Develops solutions using creativity, resourcefulness, innovation, negotiation, and diplomacy.
• Organizational Impact: Decisions have significant, broad implications for the management and operations of a division. Contributes to decisions on overall strategy and direction.
• Organizational Judgement: Sets direction and vision for major departments or multiple departments. Establishes priorities, develops policies, and allocates resources.
• Organizational Planning/Organization: Prioritizes, organizes, and delegates project assignments company-wide; responsible for project outcomes.

Physical and Mental Demands

The physical demands described are representative of those required to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these functions.

• Occasionally required to stand, walk, sit for extended periods, use hands to finger, handle, or feel objects, tools, or controls, reach with hands and arms, climb stairs, balance, stoop, kneel, bend, crouch, or crawl.
• Must occasionally lift and/or move up to 20 pounds.
• Repetitive motion of the upper body required for extended computer use.
• Specific vision abilities required include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

Work Environment and Travel

Work environment characteristics described are representative of those an employee may encounter while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these functions.

• Works in a well-lit, ventilated, and climate-controlled office environment with routine office equipment; some equipment has moving mechanical parts.
• In a hospital environment, may be exposed to hazards and unusual elements, including bloodborne pathogens, contagious illnesses, toxic chemicals, and biohazardous materials, requiring safety precautions and protective equipment.
• Noise level in the work environment is typical for an office and/or hospital setting.
• Moderate overnight travel (up to 30%) by land and/or air.