Regional Chief Financial Officer

Job Overview :

Supporting the Region's President, this position will provide financial, operational and strategic oversight for the Region. The Regional Chief Financial Officer (CFO) is responsible for the financial operations within the Region including but not limited to monthly close, forecasting, budgeting, performance management, capital management and business cases for growth and large capital projects. This position provides administrative leadership and direction to the finance operations and business entities of the Regions' hospitals, ambulatory care centers, and medical practices. The Regional CFO assures that cost-effective services are provided to the communities within the Region; exercises necessary, appropriate authority and accountability for the administration and long-term planning for the hospitals and other associated health services business units; provides direction to the Regions' hospitals, ambulatory care centers, and medical practices in adhering to system-level standards; maintain effective employee, medical staff, community, and Board relations; promotes positive community contacts and relationships. Position reports directly to the System CFO and to the Region President.

Reports to :

• The Regional Chief Financial Officer reports directly to Executive Vice President, System Chief Financial Officer, RWJBarnabas Health

Qualifications:

• Bachelor's Degree with major in Accounting. Finance or Business required. MBA Fellow of the Healthcare Financial Management Association desirable, but not required.
• Expertise in healthcare administration with progressively responsible management experience (as typically acquired during 10 years) that includes senior roles in complex multi-facility environments
• Strong finance experience in large complex healthcare organizations required.
• Executive level experience in a multi-facility/matrix management healthcare system strongly preferred
• Proven competence and success in financial operations, new business planning, development, implementation and management; board and physician relations and management development
• Experience demonstrating effective/proactive employee relations philosophy required.
• Demonstrated track record of developing and maintaining working partnerships with physicians.

Essential Functions:

Leadership and Management:

• Advise senior leadership regarding financial management; budget administration including the region's operating budget, capital budget, and the budget for the Finance Department.
• Provide for long range and strategic planning.
• Support the goals of the organization's mission, vision, values and strategic plan.

Policies and Procedures:

• Develop fiscal goals, strategies, and plans for implementation.
• Develop and promote a process of review, assessment, and continuous improvement of existing financial and administrative policies and procedures.
• Consult with key stakeholders regarding fiscal planning and management, budget development, etc.

Financial Management:

• Provide strategic financial leadership in the development of a financial and capital plan which reflect organizational priorities and future directions.
• Responsible for developing and overseeing the regional budget, revenues, and expenditures.
• Develop financial plans and financial analysis models which includes innovative solutions, strategies, and procedures.

Compliance:

• Maintain knowledge of applicable policies, federal, and state laws and organizational reporting requirements.

Knowledge, Skills and Abilities:

• In-depth working knowledge of healthcare administration, finance, operations and departments, with a strong emphasis on and understanding of financial management, strategic planning, physician relations, patient care, quality assessment and improvement, risk management and people management.
• Proven business acumen and entrepreneurial risk-taking ability with proactive attitude and demonstrated creativity in problem solving.
• Solid working knowledge of applicable laws and operating guidelines.
• Firm understanding of the trends and issues affecting the healthcare industry, including managed care, reimbursement, clinical integration and quality outcomes.
• Solid understanding of hospital compliance regulations/laws including but not limited to : federal and state wage and hour laws/regulations The Joint Commission (TJC), CMS and related accreditation standards.
• Understanding of and experience with Lean or other process improvement philosophies and methodologies desired.
• Strong analytical skills in identifying, planning, and executing appropriate and successful health care business strategies to meet changing organizational and community needs, and regulatory requirements.
• Effective team leader and team member skills, with a bias for action.
• Demonstrated effective organizational performance improvement skills, in-depth working knowledge of integrated healthcare organization and administration, agency standards/compliance, and laws applicable to healthcare operations is necessary.
• Well-developed skills in problem-identification, persuasion, and negotiation.
• Demonstrated skills in leadership, conflict identification and resolution, group problem solving and group process as well as organization and prioritization.
• Exceptional interpersonal skills, with the ability to establish and maintain effective working relationships with hospital management, physician providers, nursing, key departments and individuals at all levels inside and outside of RWJBarnabas Health.
• Well-developed and engaging communication skills (written, verbal and presentation/public speaking), including the ability to tailor presentations to a specific audience, and address and interact with large groups.
• Proven ability explaining complex medical/clinical information and concepts in lay terms.
• Excellent customer service orientation, with emphasis on continuous quality improvement.

Other Duties:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.