POSITION SUMMARY
The
Chief Financial Officer (CFO) is a key executive leadership position
responsible for overseeing all financial operations of the corporation ensuring
strategic goals, objectives and standards are met. The CFO will direct budgeting, financial planning/forecasting, financial/grant reporting,
accounting/purchasing functions, payroll, revenue cycle, purchased referred
care, information technology, facilities and risk programs. In addition, the
CFO will supervise the accounting team, ensuring compliance, clean audits and
streamlined operations of billing, collections, payroll, and general
accounting. Will develop policies and procedures to ensure compliance
with funding and other regulatory agencies.
ESSENTIAL FUNCTIONS
- Oversee all aspects of financial management for the health
center, including budgeting, forecasting, financial reporting, investment,
fixed asset, inventory and cash flow management.
- Develop and implement financial strategies and policies
that support the health center's mission, goals, and long-term
sustainability.
- Provide leadership and strategic guidance to the CEO and
Board of Directors regarding financial performance and long-term
financial planning. Prepare financial forecasts and scenario analyses to
support decision-making related to expansion, investment or operational
changes. Prepare and present financial reports to finance committee and
Board of directors.
- Develop financial strategies by forecasting capital,
facilities and workforce planning/staff requirements in collaboration
with senior leadership team.
- Prepare monthly, quarterly, and annual financial reports,
including balance sheets, income statements, cash flow projections and monthly
closing.
- Lead the annual budget process, working closely with
department heads and CEO to create a comprehensive budget that aligns
with the center’s goals and funding. Monitor financial performance
against the budget, providing regular updates to leadership and the
Board of Directors. Assist managers with planning for capital budget
expenditures.
- Evaluate internal and financial controls; direct improvements
necessary including opportunities for education and awareness for managers
and employees.
- Ensure compliance with Title I
and/or Title V Self-governance compact as well as all Tribal, local,
State, and Federal laws and regulations that relate to Indian Health Services
(IHS) Tribal financial reporting, grant accounting, contract compliance and purchasing.
- Provide oversight and organize the annual financial and other audits, as necessary.
- Provide regular review and
updates to financial policies. Responsible for the drafting of
financial policy recommendations and ensure that all employees are well-informed and trained on finance/procurement policies.
- Responsible for the
oversight of the procurement of goods and services in compliance with company
policy and procedures as well as any other requirements associated with
grants and contracts.
- Oversee revenue cycle
and purchased referred care operations including insurance verification,
coding, billing, collections, and vendor payments. Analyze reimbursement
rates, payment trends, and payer contracts to ensure the health center
is maximizing revenue opportunities. Develop and implement strategies to
improve collections and reduce accounts receivable aging.
- Assist in identifying
and securing financing opportunities for the health center, including
grants, loans, and other funding sources as needed.
- Direct facilities and
information technology planning needs; provide leadership on
construction projects as well as upgrades and enhancements to facilities
and IT infrastructure including RFPs and vendor negotiations. Review and
provide for adequate property/commercial liability and workers
compensation insurance.
- Manage professional and support staff; guide, train and coach employees; provide performance feedback on routine basis and conduct required performance evaluations. Hire and develop staff; coordinate training, orientation and continuing education of staff; counsel and implement corrective action, as necessary.
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MINIMUM QUALIFICATIONS
Five (5) years of financial management and
general accounting experience including internal auditing, general ledger/fund
accounting, cash/investment management and internal controls. Knowledge in
developing financial strategies and business financing. Three (3) years of experience in
leadership role in healthcare finance preferably in a tribal/rural healthcare setting. Experience supervising accounting/revenue
cycle staff, including coding, billing and collections. Strong understanding of
healthcare reimbursement and payer regulations. The ideal candidate will have a
strong understanding of healthcare finance, as well as the unique financial
challenges of tribal health center operations.
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Bachelor Degree in Finance, Accounting, Business Administration, Healthcare
Administration or related field from an accredited college or university. Master Degree in related field preferred.
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Must possess Certified Public Accountant (CPA),
Certified Management Accountant (CMA) or
Tribal Finance Manager Certification (TFMC) or related healthcare financial
certification OR obtain within two (2) years from date of hire.
KNOWLEDGE, SKILLS AND ABILITIES
1. Extensive
knowledge of grants management, Tribal government, fund/business accounting,
general accepted accounting principles (GAAP) and auditing standards and
practices.
2.
Skill
in financial forecasting, revenue cycle/3rd party revenues, budget
preparation and fiscal management.
3.
Skill
in examining and re-engineering operations and procedures, formulating policy,
and developing and implementing new strategies and procedures.
4. Knowledge of
organization structure, workflow, and operating procedures within a fast-paced
medical delivery system.
5. Extensive
knowledge of grants management, Tribal government, fund/business accounting,
general accepted accounting principles (GAAP) and auditing standards and
practices.
6.
Skill
in financial forecasting, revenue cycle/3rd party revenues, budget
preparation and fiscal management.
3.
Skill
in examining and re-engineering operations and procedures, formulating policy,
and developing and implementing new strategies and procedures.
8. Knowledge of
organization structure, workflow, and operating procedures within a fast-paced
medical delivery system.
