Vice President, Finance

About the Role

The VP of Finance has direct responsibility for the planning, coordination, and direction of financial activities of designated hospitals. Participates in the financial and functional decision-making processes for the successful attainment of the operational and strategic goals and objectives of assigned entities. Maintains an awareness of changes in the healthcare regulatory environment that could impact the success of the System or its member hospitals and assists with development of strategies to effectively manage through the changes.

The VP of Finance will work with the entity CEO, Senior Team, other Finance VPs, and leaders from across the System to coordinate efforts within specified functional areas. The primary objectives of these efforts vary among different functional areas but can include achieving consistency in policies and processes, streamlining processes to gain efficiencies and improve margins, and facilitating communication both within the finance team and with leadership of other divisions.

Responsibilities

• Responsible for the planning, coordination, and direction of financial activities of the hospital and related subsidiaries/affiliates.
• Monitors the financial performance and financial position of assigned entities to identify variances and key trends that could affect the entity’s and/or System’s financial viability.
• Reviews key financial and utilization information with entity CEO and Senior Team, System finance leaders, and others as needed to facilitate timely operating adjustments when necessary.
• Establishes and maintains centralized administrative and financial policies for functional areas of responsibility to standardize and provide consistency among System entities.
• Works with entity CEO and Senior Team, other Finance VPs, and leaders from across the System to coordinate efforts within specified functional areas.
• Coordinates reporting of the financial performance and financial position of assigned entities to their respective Finance Committees and Boards of Directors.
• Responsible for long-range strategic planning for assigned entities, including identification and assessment of growth opportunities, proformas for new or expanded business ventures, process improvements, margin enhancements, and resource deployment.
• Assists with the annual update of the long-range financial forecast for assigned entities to assess system-wide capital requirements, debt capacity, and cash planning.
• Assists with coordination of annual external financial statement audits of assigned entities.
• Assists with corrective action plans regarding management letter and other recommendations for improving and/or correcting deficiencies in accounting system control procedures.
• Responsible for the completion of annual operating and capital budgets for assigned entities within established guidelines and parameters.
• Establishes relations with banks and other financial institutions to maximize return on short-term cash and effectiveness of cash management activities.
• Maintains an awareness of changes in the healthcare regulatory environment and develops strategies to effectively manage through the changes.
• Demonstrates strategic thinking and effectiveness by identifying future needs and problem areas, developing workable solutions, and following through to action.
• Works collaboratively with System staff, entity CEO, and senior management teams of assigned entities by providing assistance related to financial matters.
• Maintains a personal development program to improve professional and business skills necessary for high-level performance within the position.
• Attends meetings and seminars to maintain knowledge of current trends and developments in the field and applies information obtained within assigned entities and the System as appropriate.
• Other duties as assigned.

Requirements

Minimum Qualifications

• Education, Certification, and/or Licensure: Bachelor’s degree in accounting, finance, or business administration.
• Experience: At least eight years of healthcare finance experience. At least five years of financial management and supervisory experience in a healthcare setting.

Preferred Qualifications

• Education, Certification, and/or Licensure: Master’s degree in accounting, finance, business administration, or healthcare administration. CPA certification.
• Experience: Financial management in a critical access hospital and/or a healthcare system environment.

Skills and Abilities

• Strong collaboration, teambuilding, and consensus-building skills.
• Demonstrated leadership skills and the ability to provide constructive feedback to team members to support continuous improvement.
• High-level problem identification, mitigation, and resolution skills, as well as public speaking skills.
• Computer skills including Microsoft Office (Excel, Word, PowerPoint).
• Working knowledge of accounting information systems.
• Ability to adapt and quickly learn other computer applications as required.
• Ability to work with and maintain confidential information.

Physical Requirements

• Office work which includes sitting for extended periods of time.

Working Environment

• Office work which includes sitting for extended periods of time.
• Travel between facilities/buildings and throughout the region.

Schedule

Scheduled Weekly Hours: 40