What are the responsibilities and job description for the Chief Financial Officer (CFO) position at ST JOHNS HEALTH?
Job Details
Description
JOB SUMMARY
As a key member of the executive team, the CFO is responsible for organizing, planning, directing and evaluating SJH's financial operations and other administrative projects as assigned. Provides administrative oversight and direction to the following hospital functions; budget, reimbursement, internal audit, data processing, admitting, medical records, materials, financial management and accounting. Recommends financial budget and finance goals and objectives for approval, establishes procedures for achieving goals and objectives, and monitors adherence to same. Develops and manages SJH's cash flow requirements and manages all investments of cash reserve consistent to hospital policy. Adheres to and practices the SJH Corporate Compliance Program and participates in Performance Improvement activities.
ESSENTIAL FUNCTIONS
Financial Functions
· Directs the preparation of all financial reports, including income statements, balance sheets, reports to shareholders, tax returns, and reports for government regulatory agencies.
· Oversees accounting/finance departments, budget preparation, and audit functions. Meets regularly with department heads to keep informed and offer direction.
· Reviews reports to analyze projections of sales and profit against actual figures, budgeted expenses against final totals, and suggests methods of improving the planning process as appropriate.
· Acts as “chief staffing officer”; coordinates with Human Resources to drive productivity and plan for changes to staffing aligned with strategic plan.
· Analyzes company operations to pinpoint opportunities for efficiency or increased productivity, including areas that could be reorganized, down-sized, or eliminated.
· Studies long-range economic trends and projects company prospects for future growth in service line expansion, overall volume and market share, and opportunities for acquisitions or partnerships. Develops and presents proformas for potential opportunities.
· Estimates requirements for capital projects, land, building acquisitions, and construction and coordinates with CEO and other Admin team members to develop and update facilities master plans.
· Supervises investment of funds; works with banks and/or investment bankers to raise additional capital as required for expansion.
Administrative Responsibilities
· Analyzes financial and statistical data and recommends policies and direction to the CEO and the Board.
· Directs and monitors the development and administration of the Hospital's budget process, ensuring an acceptable annual budget is developed and approved.
· Emphasizes efficient hospital management and operations consistent with sound fiscal policy, growth, and capitol purchases.
· Responsible for ensuring all Hospital financial practices are in compliance are in compliance with applicable government and other regulatory requirements.
· Works with IT and decision support to build and maintain effective enterprise architecture.
· Collaborates with Chief Medical Group Officer on Physician contracting and compensation.
· Assists in administrative on-call responsibilities on a rotating basis with other members of executive management group.
Other Duties
· Assumes responsibilities of the CEO in his/her absence.
· Maintains and enhances expertise through appropriate continued education.
· Other duties as need for the organization or assigned by CEO.
Minimum Education
Preferred: Bachelor's Degree in Accounting and CPA certificate.
Minimum Work Experience
Required: Three years hospital CFO experience. Healthcare knowledge with full understanding of the various aspects of financial management. including budgeting, financial planning, accounting, reporting, auditing, receivable control, healthcare reimbursement and regulations.
FUNCTIONAL DEMANDS
Working Conditions
Hospital office setting. Must be on-site at the SJH campus or other facilities to fulfill the responsibilities of this role.
Physical Requirements
90% of day sitting. Six to seven hours per day of computer use. Intermittent standing and walking.
Direct Reports: Accounting, Supply Chain, Revenue Cycle, Information Technology, Decision Support, Facilities
Reports to: Chief Executive Officer (CEO)
Internal & External Contacts
All hospital staff, Board Members, Members of the community, Administration Staff, Outside Entities.
LEADERSHIP CAPABILITIES
Delegation (Management)
• Delegates both routine and important tasks and decisions clearly and comfortably
• Trusts people to perform
• Allows direct reports to finish their own work; doesn’t micro-manage or take over
Industry Acumen (Management)
• Knows how the healthcare industry works; understands financial models for successfully running a hospital
• Pays attention to current and possible future policies, practices, trends, developments in healthcare and how these could affect the organization
Managerial Courage (Management)
• Takes unpopular stands if necessary
• Encourages direct and tough debate, but isn't afraid to end it and move on
• Says what needs to be said without holding back
Strategic Thinking (Management)
• Anticipates future consequences and trends accurately
• Develops strategic plans with a solid analysis of potential risks and rewards
Planning (Management)
• Accurately scopes out length and difficulty of tasks and projects and sets goals and goals
• Breaks down work into the process steps and develops schedules and task/people assignments
• Anticipates and adjusts for problems and roadblocks
Qualifications
