Chief Financial Officer

Description

Job Title: Chief Financial Officer (CFO)

Department: Administration

Reports To: President/CEO

FLSA Classification: Exempt

Major Tasks, Duties, and Responsibilities:

• Reports directly to the CEO and plays a pivotal role in formulating financial objectives, goals, and strategic plans.
• Provides oversight and works collaboratively with the Controller for the preparation and issuance of period statistical and financial reports. Provides the Board of Directors and Administration with detailed analyses of financial statements to reflect variances in income, expenses, and asset values from previous periods and budgets, including the impact on future strategic initiatives.
• Maintains and evaluates banking/vendor relationships, including Debt Compliance (Wells Fargo and Empire State Development).
• Oversees the annual budget process. In addition, develops a five-year strategic financial plan as well as a five-year capital needs analysis. Develops budget presentations for the Board of Directors.
• Provides cash flow projections and ensures maintenance of appropriate levels of cash for operations and capital purchases while maintaining days in accounts payable at appropriate levels.
• Recommends benchmarks that will be used to measure the company’s performance.
• Provides financial modeling and analysis to support the development of long-term strategic initiatives and business plans with emphasis on capital investments, pricing decisions, and contract negotiations
• Makes recommendations to Administration concerning the optimal utilization of the hospital’s financial resources based on knowledge of market trends, financial reports, and industry operating procedures; as well as the strategic initiatives of the organization and system.
• Maintains oversight of all Hospital Grant revenue and receivables.
• Oversees Property Management of all property and facilities owned by the Hospital, including oversight of New Market Tax Credits 
• Maintains current knowledge of New York State and FASB requirements and ensures Hospital compliance. Complies with and adheres to all regulatory agencies governing hospital functions. Assures departments/functions reporting to CFO adhere to all legal and regulatory guidelines. Projects and promotes high standards of business ethics and integrity and Corporate Compliance. 
• Collaborates with System Compliance and Risk Management Teams.
• Participates in Administrative and Management Team meetings.
• Collaborates with the Controller to assure the completion of the private, Medicare, and all other financial-related audit activities.
• Coordinates the operations of the Audit Committees of the Hospital Board of Directors and St. James Hospital Foundation. 
• In collaboration with URMC Payer Contracting and Reimbursement department, negotiates payment/contract agreements with third-party payers and assures payments are accurate. Files appeals as necessary to ensure Hospital is reimbursed appropriately.
• Participates on committees as assigned by CEO/President including but not limited to Quality Committee and Corporate Compliance.
• Works collaboratively with the clinical management teams, medical staff, and system executives to assure the strategic intents of the organization are met. Maintains organizational compliance through administrative leadership, and effective communication, and assures the identification and resolution of financial compliance issues.
• Participates in Quality Council and fulfills an advocate role for the Hospital’s continuous quality improvement and customer awareness efforts. Also participates on Quality of the Board committee and Board of Directors Benefits committee.
• Manages the process for insurance selection and renewal. Identifies the level of coverage required and compares options to ensure the Hospital has the best coverage at the best price. Ensures renewals are processed in a timely manner
• Ensures malpractice insurance policy is effective for organizational needs. Coordinates renewals.
• Maintains professional affiliations and enhances professional growth and development through attendance at seminars to keep abreast of changing trends in healthcare.
• Manages relationships and expectations with Central Billing Office (CBO).
• Performs all other functions routinely required of Hospital CFO/Vice President of Finance and other duties as requested.

Requirements

Education & Experience

• A Master's of Science degree in Accounting or Business Administration is required.
• Minimum of five years in hospital senior financial leadership required

Licenses and/or Certifications

• A certified Public Account (CPA) highly recommended

Physical Demands

• Sitting most of the time with some bending and reaching, standing, walking, and bending periodically. Engaging in repetitive movements of wrists, hands, and fingers-typing and/or writing. Working closely and frequently with a computer.

Language Ability

• Frequent contact with employees, supervisors, and directors of all departments. 
• Frequent contact with outside agencies, financial auditors, other health care providers, and the public. 
• Regular contact with the Hospital Board of Directors.

Math Ability

• All accounting and business administration aspects are required.

Reasoning Ability

• Must be able to work in a harmonious manner with all other departments and meet a variety of deadlines.
• Strong leadership, interpersonal, and organizational skills.

Working Conditions

• Work is generally performed in an office environment utilizing standard office equipment such as: telephone, computer, printer, etc. Potential exposure to chemicals, communicable diseases, and related waste.

This job description is a summary of the job duties and requirements that represent the general nature and level of work being performed. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. This description is not intended to limit or in any way modify the right of management to assign, direct and control the work of employees. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. All employees are expected to understand and adhere to the Standards/Code of Conduct and the Corporate Compliance Plan as well as ensure all educational requirements related to Corporate Compliance are implemented and adhered to as required by the CCP Education Plan, in addition to compliance with organizational policies and procedures, regulatory expectations, quality, and department standards, etc.