What are the responsibilities and job description for the Chief Financial Officer, University of Maryland Medical System position at Korn Ferry Executive Search?

OVERVIEW

The University of Maryland Medical System (UMMS) is a university-based regional health care system focused on serving the health care needs of Maryland. UMMS was created in 1984 when the state owned University Hospital became a private, non-profit organization. It has since evolved into a $5.07 billion academic health system reaching every part of the state and beyond with nationally recognized and ranked specialties in trauma, cancer care, cardiology, and orthopedics.

As one of the largest private employers in the state, the health system's more than 27,000 employees and 5,500 affiliated physicians provide primary and specialty care in more than 150 locations and at 11 hospitals (2,458 licensed beds). UMMS' flagship academic campus, the University of Maryland Medical Center in Baltimore, is recognized regionally and nationally for excellence and innovation in specialized care. The system is motivated to be a High Reliability Organization and has begun that journey.

UMMS' acute care and specialty rehabilitation hospitals serve urban, suburban, and rural communities and are in 7 counties across the state.

UMMS' Facts & Figures

Member Organizations - 11
Licensed Beds - 2,458
Employees - 27,989
Active Medical Staff Members - 5,500
Hospital Admissions - 94.970
Outpatient Visits - 1,301,003
ER Visits - 333,190
Outpatient Surgical Cases - 73,872
Annual Revenues - $5.07 Billion

THE POSITION

Reporting directly to the President and Chief Executive Officer of University of Maryland Medical System, the Chief Financial Officer (CFO) is responsible for the overall financial integrity of a highly complex, integrated system of care. The CFO plays a critical role in developing and implementing the financial strategy as well as providing tactical input to senior management.

The CFO is a member of the executive leadership team and is responsible for leading, communicating, and evaluating all elements of financial activities. The CFO will oversee the integrated financial reporting and controls, financial planning, decision support and budgeting, integrated revenue cycle including the payment strategies of the Maryland All Payor System impacting UMMS, treasury, debt management, investments, accounts payable, and Federal, State and Local tax filings. The Member Organizations' Finance Leaders have a dotted reporting relationship to the UMMS CFO.

The CFO will have overall strategic, operational, and leadership accountability for the following key functional business areas within UMMS :

Financial Reporting

Rates, Revenue and Payor Contracting

Revenue Cycle, Coding / Documentation and Patient Access

Treasury, Investment, and Debt Management

Decision Support, Budget, and Capital Planning

Enterprise Performance Improvement, Data Integrity / Reporting

Member Organizations' Financial Operations

EXPERIENCE AND PROFESSIONAL QUALIFICATIONS

The ideal candidate for the CFO role will possess the following experience, leadership, and background competencies :

Fifteen plus years of increasing responsibility in financial management within a large complex health system or large healthcare company.

Experience working in a research-based academic medical center setting (currently or in a previous role) is beneficial.

Experience as a chief financial officer in a large ($2 billion) and complex organization or a number two level financial executive of a much larger ($5 billion) organization.

Highly strategic, agile, and able to handle complex business and risk issues.

Able to influence and generate consensus, reaching across organizational boundaries to collaborate and achieve objectives.

Expertise in growing a health system through acquisitions, partnerships, affiliations, and joint ventures.

A track record as a skilled negotiator while maintaining strong relationships with payers, physicians, vendors, and others.

Experience with various reimbursement models (bundled payments, risk contracting, capitation) and the ability to work collaboratively with payers.

Experience working with the investment community on treasury functions, investment portfolio management, and resource allocation.

Demonstrate a collaborative leadership style through direct, open, and honest communications.

Solid expertise building a financial team that has its eye on the future and is responsive to its constituencies; track record of building, motivating, and managing high performance teams.

Decisive and has the courage and confidence to lead and inspire an organization through change and periodic uncertainty.

Strategic business partner and team player with a demonstrated ability to think proactively, creatively, and improve performance by identifying key strategic opportunities.

An individual who is an innovative system thinker who can drive change and deliver leading edge solutions.

Excellent communication and presentation skills and the ability to make effective presentations at all levels internal and external to the organization.

A personal presence characterized by a sense of honesty, integrity, high ethics, respect, and the ability to inspire others.

A collaborative team player who is inclusive and respectful of others' expertise.

EDUCATION QUALIFICATIONS

Master's degree required

CPA preferred

COMPENSATION

Salary of $500,000 - $800,000 plus Executive Benefits

Korn Ferry shall provide equal employment opportunity to all qualified candidates, and will refer candidates without regard to race, color, religion, national origin, sex, age, disability, veteran status or any other legally protected basis.

Salary : $500,000 - $800,000

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Chief Financial Officer, University of Maryland Medical System

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