CHIEF FINANCIAL OFFICER

Job Description

Job Description : \n\nOpportunity Integritus Healthcare (IHC) presents an exciting opportunity for an experienced, collaborative finance executive who wants to join a multi-site health system with a diverse array of post-acute integrated healthcare services including skilled nursing, long-term care, senior housing, hospice and other services. This new executive will need to have a strong mission-orientation, be highly strategic and analytical. He or she must think deeply about the financial future and challenges of health care delivery in the context of healthcare reform and must be committed to being innovative and creative in the oversight of the financial management. The successful candidate will want to come to IHC, because he or she believes his or her best work can be accomplished in this mission-driven, high-functioning environment. Summary of Position REPORTS TO : President and CEO, Integritus Healthcare (IHC) The Chief Financial Officer is responsible for directing and supporting the fiscal functions of the organization in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, the Securities and Exchange Commission, other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the health care industry. Essential Duties and Responsibilities of the Position Serve as the financial leader of IHC – providing strategic, long- and short-term direction to the financial and related functions of the organization.Plan, develop, organize, implement, direct and evaluate the organization's fiscal function and performance.Participate in the development of the organization's strategic plan.Provide strategic financial leadership and support on the evaluation of potential alliances, acquisitions, and investments and / or other issues affecting the organization.Evaluate and advise on the impact of long-range planning, introduction of new programs / strategies and regulatory action.Establish credibility throughout the organization and with the Board as an effective developer of solutions to business challenges. Key Responsibilities of the Position Know, understand, incorporate and demonstrate IHC’s mission, vision and values in leadership behavior, practices and decisions. Function as a key business strategy partner for the operations and management staff of IHC. In this role, the CFO will provide direction and leadership in reviewing the organization’s financial affairs and actively pursuing identified strategies and opportunities for operational improvement. Oversee all finance functions, including financial reporting, accounting, payroll and disbursements, operating and capital budget process, strategic financial planning, financial analysis and business office functions. Analyze financial reporting information in a manner that will provide the optimum information on which to base business decisions. Work closely throughout the organization and in particular with the President and senior management team to address cost reduction, work redesign and overall performance improvement affecting IHC. In addition, the CFO must see the “whole picture” and monitor balance sheet performance, and appropriate capital distribution as part of the capital allocation process. Provide oversight of the preparation of audit ready internal financial statements and lead the annual financial statement audit process to an adjustment free conclusion annually. Lead budgeting efforts to ensure that IHC processes are efficient, effective and help to support the ownership of managers across the system. Work with administrative leaders in assisting with their operating and capital budgets. Provide variance analysis education and support to operating leaders and others as appropriate. Provide leadership in evaluating new business opportunities such as affiliations or joint ventures. Communicate with and serve as a leader with IHC’s Finance Committee and other appropriate board committees. Communicate with and build a strong collaborative relationship with the senior management team. In collaboration with the President & CEO and senior management team, develop and oversee operating and capital budgets consistent with the strategic and financial plans of the organization. Verify the integrity of the operating budget by measuring, projecting and analyzing variances and recommending appropriate action to the President and others as appropriate. Communicate financial information to senior management, including educating all levels of management about financial issues. Review key financial indicators of occupancy, costs, productivity, etc., with operational leaders and collaboratively work to provide specific recommendations on how to improve performance indicators. Work collaboratively with Senior Leadership to support proactive management of operations and cost control including productivity. Develop, implement, and oversee appropriate financial operating systems, processes, and controls that provide accurate and timely financial information and other external reporting. Ensure appropriate internal controls exist and address any deficiencies noted. Oversee accurate and timely filing of Federal and State tax filings. Monitor the balance sheets and key reconciliations, including cash and debt positions and proactively manage capital spending to ensure it is within budget. Proactively evaluate financial results to identify and promote opportunities to improve financial performance. Identify performance trends and future changes. Engage with senior team leaders and management to ensure attainment of financial and strategic goals. Work with executive team to identify, evaluate and make recommendations on new business opportunities. Negotiate or provide input into business transactions, dealings and contractual arrangements including acquisitions, divestitures, joint ventures and other relationships. Provide leadership for strategic financial and capital decision making. Work with executive team to analyze strategic options and lead ROI analyses. Help drive the development of the strategic financial plan and act as the key partner in strategic capital planning and prioritization of investments to ensure strong long-term financial stewardship. Proactively evaluate actual versus forecasted results of strategic capital investments, identify reasons for variation and identify changes needed to further improve results. Responsible for direction, formulation and implementation of finance-related policies and objectives. Responsible for adherence to policies and procedures and ensuring all financial practices are in compliance with applicable government and other regulatory agency requirements, including generally accepted accounting principles. Lead educational programs and provide coaching for leadership, management and associates to strengthen clinical business competency. Ensure highly competent local finance team through ongoing coaching, development plans, assessment of needs and talents and recruitment strategies. Actively participate in IHC initiatives providing leadership, support and engagement to ensure successful assessment and implementation. Maintain a working knowledge of applicable Federal, State and local laws and regulations specifically including charity care guidelines and other policies and procedures in order to ensure adherence in a manner that reflects honest, ethical and professional behavior. Ensure that IHC maintains effective and efficient systems of financial management, including : Oversee and monitor payroll, accounts receivables, accounts payable, accounting, purchasing and contract negotiation functions for efficiency and compliance.Direct and coordinate the organization’s financial or budget activities to fund operations and increase efficiency.Provide continuous improvement of the budgeting process through education of department managers on financial issues impacting their budgets.Provide timely and accurate analysis of budgets, financial reports and financial trends in order to assist the President and the Board and other senior executives in performing their responsibilities.Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.Develop a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs. Provide financial insight and expertise to colleagues and all other stakeholders in the organization.Enhance and / or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the organization.Provide technical financial advice and knowledge to others within the financial discipline.Serve as an advisor from the financial perspective on any contracts into which the organization may enter.Perform evaluation of the finance division structure and team plan for continual improvement.Mentor individuals for professional and personal growth.Stay abreast of trends and regulations to ensure effectiveness and compliance for the finance and information technology functions. Goals and Objectives – Measures of Success The following goals and objectives are measures of success that have been identified for attention and focus during the early tenure of the new CFO : Establish oneself as a proactive, cross-organizational leader who will actively partner with operational colleagues and others to support their success and the overall success of the organization. Establish an open, approachable presence and clear lines of communication throughout the organization, which will result in building trust and confidence at all levels. Establish a positive rapport at all levels within the organization. Establish oneself as a collegial, employee advocate who is respected by management as an effective financial advisor and problem solver. He / she will have a visible presence in the organization. Develop strong relationships, characterized by a supportive and consultative interpersonal style, with the formal and informal medical staff leadership, nursing leadership and other clinical leadership. Ensure all financial operational areas are given the necessary oversight and support to be managed effectively and efficiently. While a strategic financial acumen is important, the CFO must be attentive to day-to-day operations to ensure IHC maintains a contemporary, highly effective infrastructure. In the wake of healthcare reform, collaborate with the IHC management team, Berkshire Health System / Berkshire Medical Center leaders and others to develop innovative ways to deliver high-quality healthcare as a multi-site system in a changing managed care environment. The CFO will provide insight and leadership relative to payor negotiations and strategies, particularly relative to pay-for-performance and other strategies that will optimize IHC’s role in the market and its overall financial performance. Be a “go to” person to management on fiscal issues by being visible, approachable and viewed widely as a problem solver and as a valued resource. Work closely with operating areas, ensuring tight controls of expenses and revenues are maximized. Actively participate in operations meetings focused on developing process improvement and revenue and expense techniques. Work with system accounting staff, monitor and report on IHC’s financial position, examine performance relative to industry benchmarks, and make recommendations to IHC’s President and management team. Provide leadership to the finance team, assessing their skills and developing a plan to enhance their managerial and technical capabilities where needed. Mentor staff and provide opportunities for professional development. Establish positive, strong and trusting relationships with state regulatory agencies as well as other state, regional and local regulatory bodies. Prudently manage financials in support of mission-driven activities. Candidate Qualifications The ideal candidate will possess the following experience, skills, values and personal characteristics : Education A Bachelor’s degree in Business Administration, Accounting or Finance, or related field required. Candidates should ideally possess an MBA and / or a Master’s degree or Certified Public Accountant (CPA). Experience and Skills Ten years’ experience in financial management with progressively increasing responsibility. Experience as a CFO, Vice President or senior-level finance within post-acute healthcare is required. Ability to work collaboratively in a growing, multi-site, not-for-profit, post-acute care health system environment. Excellent customer service orientation skills are necessary in order to deal effectively with various levels of the hospital community including staff, personnel, governance, physicians, patients and community groups. Advanced analytical, financial management and cost control skills are necessary to direct management of financial resources, determine needs for capital equipment, personnel, and expense and revenue budgets. Must be a collaborative, contemporary finance executive with expertise in the areas of finance, contracting, information systems, business operations, strategic planning and joint ventures / affiliations. A superb financial and critical thinker, one who understands operations and systems integration, yet takes a strategic business view of the market environment. Able to work well with operational and clinical staff and proactively able to identify and execute partnership opportunities. Experienced in hiring, developing, coaching and promoting staff. One must demonstrate an effective history of retaining and developing high performing teams. Possess excellent presentation and communication skills, with the ability to present information to groups and individuals at all levels of the organization; this should include experience in working with and presenting to boards, and the ability to communicate complex financial information to non-financial professionals. A track record as a shrewd and skilled negotiator. Personal Characteristics A high level of integrity, honesty, and sincerity and an approach to communication that is direct and candid. Strong verbal and written communication skills. Strong leadership / influencing skills are required with the ability to work effectively within a multi-site system and influence others and achieve results. Advanced interpersonal, management and organizational skills are necessary. A personal presence, which is characterized by a sense of honesty, integrity and caring with the ability to inspire and motivate others to promote the philosophy, mission, vision, goals, values of IHC. A self-directed, approachable individual who has a high level of intellect; will demonstrate conviction regarding his / her ideas, yet is sufficiently self-c