What are the responsibilities and job description for the Corporate Chief Financial Officer position at Stark Lane, Inc.?
The Company
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Based in North Dallas, this private equity sponsored organization owns and operates inpatient rehabilitation hospitals throughout the continental United States. Presently, the organization is operating more than 20 locations, with several more in the development phase. They are a rapidly emerging leader in rehabilitation services, known for dedication to clinical excellence, solid financial performance, and as an employer of choice in each market served.
The company is led by industry veterans with an impressive track record of success in the post-acute hospital space.
The Position
Reporting to the CEO, the Chief Financial Officer (CFO) will set company financial policy, accounting, tax compliance, and revenue cycle direction, while also serving as an active participant in, and driver of, the organization’s overall managed care contracting and financial strategy. The CFO will work closely with the CEO in capital structure management while leading financial administration and budgeting. This corporate executive will serve as a key advisor to the CEO, board of directors, equity sponsors, and other key stakeholders, while maintaining a strategic role as a senior leader in the organization.
Specific responsibilities include, but are not limited to, the following :
Strategy
Partnering with the CEO and other management staff on all operational and strategic issues as they arise; providing strategic recommendations based on financial analysis and projections, cost identification and allocation, and revenue / expense analysis
Participating in the ongoing strategic planning process as an integral member of the senior management team
Managing budgetary planning, financial planning, and cost management.
Projecting capital and cash needs and opportunities
Organizing and investing capital to meet the strategic goals and immediate demands of the organization
Coordinating, with the CEO and others, any opportunities for M&A activity, while managing de novo growth initiatives
Engaging the board around issues, trends, and changes in the operating model and operational delivery complications or opportunities
Providing support and data necessary to establish favorable contracts with payors, service providers, and client organizations
Collaborating with the CEO, management company, equity sponsors, and board of directors to establish the appropriate organization of company assets to achieve strategic goals and objectives
Financial and Operational Management
Maintaining responsibility for financial reporting and tax compliance
Completing and monitoring overall budgeting, and the implementation of budgets, monitoring progress and presenting metrics both internally and externally
Ensuring finance staff maintain financial record systems in accordance with Generally Accepted Accounting Principles, and monitoring use of all funds
Instituting, with support of the company’s controller, effective and efficient cost containment strategies
Managing the preparation and approval of all financial reporting materials and metrics for funding the organization; preparing and communicating monthly and annual financial statements
Managing cash flow and forecasting; directing all financial, project-based, and departmental accounting
When necessary, coordinating all audit activities with financial consultant and / or external CPA firm / s
Reviewing all formal finance and IT-related procedures, processes, and administration, recommending improvements to the systems in place and managing the systems going forward
Revenue Cycle Management
Building and managing a team capable of achieving well-respected metrics and an overall highly efficient revenue cycle function
Setting revenue targets
Leading team in negotiating competitive managed care contracts with payers
Ensuring contractual requirements within the financial function are carried out in a timely and responsible manner
Continuously evaluating systems, vendors, technology, and processes to ensure optimal quality and performance
The Successful Candidate
The CFO will possess the knowledge, skills, and abilities to lead the financial operations function of this organization during periods of strategic optimization and scale. These competencies include, but are not limited to, the following :
10 years of progressive senior-level experience in the financial function of a multi-site hospital system
Master’s degree in accounting, finance, business, or related field
CPA preferred
Ability to work onsite in North Dallas, Texas
Prior experience in private equity sponsored hospital organizations strongly preferred
Experience and knowledge of healthcare revenue cycle and managed care contracting
Demonstrated track record of successful leadership of growing organizations, including M&A
Skill in examining, developing, reengineering, and recommending financial, AR, and technology policies and procedures
Prior experience managing the treasury function of a multi-hospital system
Strong analytical skills and experience interpreting a strategic vision into an operational model
Exceptional written and verbal communication skills
Strong computer skills; proficiency with MS Office and common web applications
Exceptional leadership, interpersonal, and motivational skills; able to communicate effectively with employees and stakeholders at all levels of the organization
Exceptional problem-solving skills
Track record of success in fast-paced, high-accountability environments
Compensation
The successful candidate will receive a highly competitive compensation package, including, but not limited to :
Competitive salary
Incentive compensation
Equity
Paid time off
Full suite of health and welfare benefits
Retirement plan
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