Chief Financial Officer

Job Description

Job Description

Description : Job title

Chief Financial Officer

Reports to

Chief Executive Officer / Board of Trustees

FLSA Status

Exempt

Position Summary

The Chief Financial Officer is responsible for the planning, provision, and allocation of functional resources necessary to carry out the day-to-day operations of the organization. These responsibilities are accomplished by establishing appropriate performance standards, qualifications, and expectations. Responsible for the proper planning and allocation of resources under their control to include the preparation and monitoring of the annual operating budget and objectives consistent with Cherry County Hospital’s strategic plan. All duties are performed consistent with Cherry County Hospital and Clinic standards and behaviors.

Duties and Responsibilities

Responsibilities include but are not limited to the following :

• Commits to the mission, vision, beliefs, and consistently demonstrates our core values
• Participates in and / or leads meetings, committees, strategic planning, and lean projects as assigned
• Overseas formulations of goals and objectives, plans and programs in alignment with the overall organizational goals and objectives, plans and programs; ensures plans and programs are properly executed and an effective feedback process is utilized which communicates the overall condition and trends in each area and all important activities affecting them
• Oversees performance standards / metrics for each of the departments and evaluates the performance against the standards; coaches and assists the managers in improving their planning and performance
• Ensures consistent leadership among managers and ensures unification
• Promotes effective communication, collaboration, quality, and efficiency between departments and managers
• Provides leadership and oversight in service line growth and development
• Oversees the departmental budgetary procedure to ensure proper operational and capital planning; appropriate and efficient use of resources; and consistent compliance to budgetary and fiscal controls
• Responsible for hiring, training, supervising, coaching, mentoring, retaining, and evaluating managers including professional development of the managers
• Keeps informed of current issues including new procedures, developments, and innovation
• Maintains professional growth and development through seminars, workshops, and professional affiliations to keep abreast of latest trends in field of expertise
• Support the development of service excellence initiatives such as : AIDET, Key Words, Managing Up, 10 / 5 Rule, and Service Recovery when applicable
• In conjunction with Senior Leadership, responsible for overall physician, employee, and patient improvement efforts
• Understands the accounting and financial reporting regulations related to all governmental programs (CAH and RHC)
• Identifies appropriate internal controls for department, provides mechanisms to monitor and enforce compliance, and coordinates the annual audit, cost report preparation, and 990-preparation with outside auditing firm as needed
• Evaluates the clinic financial statements and operations (including physicians’ productivity reports and physicians’ employment contract) and prepares appropriate analysis
• Develops and maintains the accounting system used in evaluating department costs and profitability and provides information as needed to make managerial decisions
• Compiles information and performs comparative analysis to other hospitals and clinics; determines benchmarks to be used in evaluating processes and productivity throughout Cherry County Hospital and Clinic
• Assists management in managing both productivity and volumes by providing summary and detailed statistical reports showing resource consumption and unit costs
• Evaluates the financial feasibility of new or existing services and programs; accesses a wide variety of databases and reports to prepare analytical reports and special studies
• Evaluates and manages payor contractuals and advises the CEO and Board of Trustees on material changes in contractual estimates or issues as needed
• Guarantees accurate and timely preparation of monthly financials for distribution to CEO and Board of Trustees
• Develops a relationship with Cherry County Hospital’s auditing firms and ensures that our annual audits are performed appropriately and timely
• Seeks to ensure our audit has no controllable adjustments entries
• Demonstrates competency in Medicare, Medicaid, and other third party insurance company billing requirements
• Understands the Critical Access Hospital program including cost reporting and its implications on operations and related decisions
• Understands the Rural Health Clinic program including cost reporting and its implications on operations and related decisions
• Maintains professional growth and development through education, seminars, workshops, and personal affiliations to keep abreast of latest trends in field of expertise
• Performs other related duties as assigned
• Ensures the confidentiality of patients’ medical, personal, and financial records is maintained
• Knowledgeable of and committed to practicing Corporate Compliance policies and procedures
• Complies with Cherry County Hospital personnel policies
• Performs other duties as assigned by supervisor

Skills and Abilities Required

Physical Demands and Working Conditions

Direct reports

The Accounts Payable Specialist, Data Processing Operator, Insurance Clerk, IT Systems Specialist, Materials Management Clerk, Patient Financial Services Representative, Quality Assurance Coordinator, and Staff Accountant report to this position.

Requirements :

Minimum Job Requirements