Director of Financial Operations - Hybrid

Duties And Responsibilities

Lead the development and implementation of financial strategies that support the organization’s objectives, both short-term and long-term.

Provide financial insights and recommendations to senior leadership to drive decision-making, focusing on cost optimization, revenue generation, and sustainable growth.

Work closely with the executive team to align financial goals with the overall business strategy, ensuring proper resource allocation and efficient operational planning.

Develop, review, and update the organization’s annual budget and financial forecasts in coordination with other departments and management teams.

Financial Reporting and Analysis

Oversee the preparation of accurate financial statements, reports, and analyses, including income statements, balance sheets, and cash flow statements.

Ensure that financial reporting is compliant with healthcare regulations and accounting standards, such as GAAP or IFRS.

Conduct regular financial performance reviews and analysis, identifying areas for cost savings, revenue improvement, and other operational efficiencies.

Provide insightful and actionable financial reporting to senior leadership and stakeholders, translating complex financial data into easily understood recommendations.

Budgeting and Forecasting

Lead the budgeting process, ensuring that budgets are in line with organizational goals and reflect the operational needs of various departments.

Monitor and manage variances from the budget, offering corrective actions and adjustments as needed.

Work closely with department heads to ensure accurate forecasting and tracking of expenses and revenues.

Cash Flow and Risk Management

Oversee cash flow management, ensuring the organization has sufficient liquidity to meet operational needs and financial obligations.

Develop and maintain financial models that assess liquidity, solvency, and financial risks, and implement strategies to mitigate potential risks.

Manage relationships with financial institutions, lenders, and other stakeholders involved in financing and investment activities.

Compliance and Regulatory Oversight

Ensure compliance with all healthcare financial regulations, such as HIPAA, Medicare/Medicaid reimbursement guidelines, and any other industry-specific standards.

Stay up to date on changes to healthcare legislation and accounting standards to ensure the organization’s financial practices remain compliant.

Oversee the preparation of financial documentation for external audits, tax filings, and regulatory reporting.

Team Leadership and Development

Manage, mentor, and develop the finance team, providing guidance on financial best practices and professional development opportunities.

Foster a collaborative and productive environment within the finance department and across departments, ensuring clear communication and alignment of financial goals.

Encourage and drive continuous improvement in financial systems, processes, and reporting to streamline workflows and enhance team performance.

Cost Control and Operational Efficiency

Implement financial controls and procedures to monitor and track spending, ensuring effective cost management and avoidance of unnecessary expenditures.

Evaluate and streamline financial processes, utilizing technology to improve efficiency, reduce errors, and provide more real-time insights into financial performance.

Work with other departments to identify opportunities for improving operational efficiencies that can enhance the organization’s financial position.

Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Master’s degree or CPA preferred.
• 8+ years of experience in financial management, with at least 3 years in a senior leadership role, preferably in the healthcare sector.
• Experience with financial reporting standards (GAAP, IFRS) and healthcare regulations (HIPAA, Medicaid/Medicare compliance).
• Experience with budgeting, financial forecasting, and cash flow management in a healthcare setting.
• Proven experience managing cross-functional teams and collaborating with other departments, such as operations, compliance, and clinical staff.
• Certification in financial management (e.g., CPA, CFA, CMA) is a plus.

Knowledge/Skills/Abilities

• Strong understanding of healthcare finance, including reimbursement processes, payer models, and regulatory requirements.
• Proficiency in financial software and systems (e.g., ERP, financial modeling tools, Microsoft Excel).
• Familiarity with healthcare-specific financial systems and software, such as EPIC, Cerner, or similar platforms.

CORE COMPETENCIES

• Strategic Thinking: Ability to align financial strategies with the organization’s long-term goals, focusing on growth and sustainability.
• Leadership: Proven ability to lead and develop teams, fostering a collaborative and results-driven environment.
• Analytical Skills: Expertise in financial analysis, forecasting, and performance monitoring to drive informed decision-making.
• Communication: Strong verbal and written communication skills to effectively present complex financial information to non-financial stakeholders.
• Problem Solving: Ability to identify and address financial challenges, implementing effective solutions in a timely manner.
• Attention to Detail: Exceptional attention to detail in financial reporting, ensuring accuracy and completeness of all financial data.
• Tech Proficiency: Comfort with financial software and systems, as well as the ability to implement technology solutions to improve financial processes.

WORKING CONDITIONS

• Physical Requirements: Occasionally sit, frequently talk and hear, and constantly use hands.
• Hazards and Atmospheric Conditions: Normal office surroundings.

COMPETENCIES

• Agility: Adapts quickly to changing circumstances; cleverly navigates obstacles and constraints.
• Resourcefulness: Comfortable when things are in flux; readily shifts approach or behavior to fit changing circumstances.
• Bias to Action: Propensity to act or decide and move forward with a logical approach; can decide and act without having the total picture.
• Delivering Results: Strives for high levels of achievement; maintains a clear and steady focus on meeting goals, despite obstacles; is resilient when encountering setbacks.
• Customer Focus: Identifies with customers; understands who the external and internal customers are and what they value.
• Managing Complexity: Extracts the core meaning out of complex situations; can separate the important from the noise when problem solving; hunts for the root cause of successes and failures.
• Managing Conflict: Can hammer out tough agreements and settle disputes equitably. Stays positive, constructive, and respectful, even in disagreements or conflicts.
• Capability Building: Helps others succeed; steps aside and lets others shine; serves as a mentor and coach; helps others apply their strengths and shore up on their weaknesses.
• Interpersonal Impact: People smart; reads people well; can articulate the qualities, perspectives, strengths, and weaknesses of others. Influence: Even without direct authority finds common ground and win/win solutions; gains alignment on the path forward.
• Visioning: Creates common purpose/shared mindset; raises others' confidence to tackle challenges; promotes high level of energy and excitement.

Disclaimer

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.

Benefits

• Comprehensive health, dental, and vision insurance
• Health Savings Account with an employer contribution
• Life Insurance
• PTO
• 401(k) retirement plan with a company match
• And more!

ENVIRONMENTAL/WORKING CONDITIONS

• Normal busy office environment with much telephone work.
• Possible long hours as needed.