What are the responsibilities and job description for the Senior Director Finance Hospital Operations R35787 position at Finance Other - Baystate Health?
Req#: R35787
Category(s): Finance, Finance Other
Full Time / Part Time: Full-Time
Shift: First
Summary:
Locations:
- Chestnut St, Springfield MA
- Onsite (Hybrid option)
Schedule:
- Monday-Friday 8a-5p
- Dayshift
- Fulltime
The BH Senior Director of Finance – Hospital Operations & System Budgets is responsible for developing strategy, delivering analyses, and implementing performance improvements related to the operational financial performance of Baystate Health. The incumbent works in close partnership with entity Operations Leadership and their Teams as the Finance division's key liaison to other Finance departments while supporting the business operations and financial goals of BH. The Senior Director of Finance – Hospital Operations & System Budgets leads all operating and capital budget activities. The incumbent is responsible for providing effective management of Budget & Business Performance, and oversight of the Finance Teams at BFMC, BNH, and BWH, respectively.
The BH Senior Director of Finance – Hospital Operations & System Budgets reports directly to the Vice President of Finance, Support Services. In addition, the incumbent maintains a matrix reporting relationship to the President of BMC and the President of the Community Hospitals. The BH Senior Director of Finance – Hospital Operations & System Budgets develops & maintains excellent relationships with Operations management and is a major liaison in the partnership between Finance and Operations. The incumbent continually monitors, interprets, and analyzes the financial performance of all BH hospitals. In short, the BH Sr. VP of Finance & CFO, as well as the VP of Finance – Support Services charge the incumbent with taking the lead role in mobilizing Finance and Operational Leadership colleagues in response to urgent requests, special projects, and associated analytics in order to develop recommendations to improve BH financial performance.
Job Responsibilities:
Responsible for conducting annual performance evaluations for staff in Workday as well as conducting subsequent engaging conversations regarding performance, ladder movement, and growth.
1) Evaluation and Communication of the Financial Performance of BH Hospitals
Monitors, interprets, and leads the analysis of the financial performance for the Health System and develops recommendations to improve performance. Effectively communicates to management and recommends to Senior Hospital Operations management corrective actions as needed.
2) Evaluation and Oversight of the Financial Performance for Baystate Medical Practices (BMP)
Monitors, interprets, and leads the analysis of the financial performance of BMP and collaborates with physician leaders to evaluate new providers, practices, and programs from a financial perspective. Oversees the preparation of the BMP annual budget, setting targets and budget expectations for service lines and Departments. Works closely with physician compensation to set provider RVU budgets, intercompany amounts and assists in developing financial presentations for the BMP Board.
3) Evaluation and Oversight of Baystate Health and Baystate Administrative Services – Management and Information & Technology Budgets and Financial Performance
Primarily responsible for leading the financial oversight, tracking, and reporting for the parent company, BH, and the operating company, BAS. Monitors and tracks all BH strategic initiatives. Monitors and manages the oversight of all BAS cost center budgets serving as the main financial leadership contact for I&T and Management.
4) Key Contributor in the Development of New Initiatives to Enhance BH Financial Performance
Key contributor to the system wide Baystate Financial Improvement Team (BFIT) whose primary goal is to enhance BH financial performance through the identification of new initiatives and monitoring of ongoing projects. Partners with Senior Leadership and BH Department Management colleagues in recognizing, implementing, and tracking new Financial Improvement Initiatives in order to achieve sustainable financial improvements.
5) Coordinate BH System-wide Budget Development Process and Communicate BH Financial Performance
Leads the coordination of the system-wide budget process and budget strategies and communication of budget status to senior leadership. Responsible for development and monitoring of departmental operating, capital, and new program budgets. Contributes to the development of ongoing productivity monitoring, and responsible for adherence to established budgets and development of budget recommendations as required.
6) Management of Assigned Areas
Provides management oversight of the Budget & Business Performance for the Health System. Establishes procedures, policies, and goals for assigned responsibilities consistent with those of the Finance Division, Operations Management, and BH. Counsels, trains, coaches, and develops assigned personnel to increase their level of competence and performance. Identifies and analyzes the design of jobs, work processes, work flows etc., for the assigned units as needed, and implements appropriate changes to improve effectiveness, productivity, and efficiency that support the overall goals of the organization. Provides management oversight of BH Community Hospital Finance teams.
7) Develop Relationships with Operational and Senior Leadership and Provide Necessary Support for the Business Needs of BH
Develops exceptional relationships with Operations management and plays a leadership role in the partnership between Finance and Operations. Partners with Senior Hospital Operations management developing and implementing business unit objectives.
8) Develop and Enhance the BH Business Performance Tools and Processes
Leads initiatives to enhance business performance monitoring and analytics, including financial position control, daily productivity, enhanced variance reporting and analyses, and development of financial forecasting methodologies. Effectively develops and supports decision support activities at the BH hospitals in partnership with operations management and the Decision Support Department. Understands, explains, and makes recommendations on updates/changes/replacements to budget and business performance processes and IT systems used throughout BH to maximize productivity, information flow and workflow automation.
9) Monitors and Directs the Financial Operations of Baystate Home Health
Serves as the financial leadership liaison to BHH supporting financial management staff, budgets, reporting and financial statement preparation.
10) Other Duties as Required Performs other duties as requested by the Vice President of Finance (Examples of other duties include, but are not limited to, serving as a member of the BeHealthy ACO Finance Committee, the Clinical Documentation Initiative steering committee and other Committees that arise over time relative to financial improvement initiatives.) Support Services,
Required Work Experience:
1) 10 Years of experience
Preferred Work Experience:
1) None listed
Required Education:
1) Bachelor of Science (Finance/Accounting/Economics)
Preferred Education:
1) Master of Science and/or CPA
Skills and Compentencies:
1) Demonstrated leadership & management experience in hospital financial setting, thorough understanding of healthcare management including budgeting, productivity management, cost accounting, service line management, benchmarking, registration processes, billing and collections, charging, coding, reimbursement methodologies, insurance rules, contract terms, and compliance requirements
THE ADVANTAGES OF WORKING WITH BAYSTATE!
- Excellent Compensation High-quality, low-cost medical, dental and vision insurance
- Generous PTO – up to 25 days in the first year, with scheduled earned increases
- Continuing education support and reimbursement
- First Time Home Buyers Financial Packages
- Farm Share Memberships
- 403b retirement company match & annual company contribution increase based on years of service
- Free money coach advice from a certified professional
- Wellbeing programs that include but are not limited to mental, physical, and financial health
- Pet, home, auto and personal insurance
- Life insurance
- Reimbursement for a variety of wellbeing activities, included but limited to gym membership and equipment, personal trainer, massage and so much more!
- Wellbeing programs that include but are not limited to mental, physical, and financial health
We strive to be the place where we can help you build the career you deserve – apply today – YOU belong at Baystate!
OUR COMPENSATION PHILOSOPHY
We offer competitive total compensation that includes pay, benefits, and other recognition programs for our employees. The base pay range shown above considers the wide range of factors that are considered in making compensation decisions including knowledge/skills; relevant experience and training; education/certifications/licensure; and other business and organizational factors. This base pay range does not include our comprehensive benefits package and any incentive payments that may be applicable to this role.
You Belong At Baystate
At Baystate Health we know that treating one another with dignity and equity is what elevates respect for our patients and staff. It makes us not just an organization, but also a community where you belong. It is how we advance the care and enhance the lives of all people.
DIVERSE TEAMS. DIVERSE PATIENTS. DIVERSE LOCATIONS.
Education:
Bachelors Degree (Required)
Certifications:
Certified Public Accountant – OtherOther
Equal Employment Opportunity Employer
Baystate Health is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, ancestry, age, genetic information, disability, or protected veteran status.
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