Job Description

JOB SUMMARY

The Chief Financial Officer (CFO) is an executive-level position responsible for directing the organization’s financial strategy, planning, and accounting functions. The CFO leads financial operations, ensuring the efficient management of the company’s financial health, including oversight of budgeting, forecasting, financial reporting, and risk management. The CFO also plays a key role in managing relationships with lending institutions, investors, and other financial stakeholders, ensuring that the company maintains strong financial partnerships and access to capital. Additionally, the CFO contributes to strategic decision-making by providing financial insights that support organizational growth and long-term sustainability. This role is pivotal in safeguarding the financial integrity of the company, driving profitability, and ensuring compliance with regulatory standards.

DUTIES AND ESSENTIAL JOB FUNCTIONS

· Executes and Oversees Financial Strategy

o Lead the development and execution of the company’s financial strategy in alignment with organizational goals.

· Develops Growth and Profitability Plans

o Identify and implement strategies for sustainable growth, maximizing profitability, and managing costs.

· Executes and Oversees Revenue Cycle Management

o Identify and implement strategies to optimize end-to-end revenue cycle processes

· Develops Managed Care Payer Contracting Strategy

o Lead the development and execution of the payer contracting function to improve the reimbursement for the organization

· Manages Investment Management, Mergers, and Acquisitions

o Evaluate investment opportunities and lead/manage mergers, acquisitions, and divestitures.

· Collaborates with CEO on Financial Planning

o Assist the Chief Executive Officer (CEO) in formulating and refining the company’s long-term financial plan.

· Manages Accounting and Financial Operations

o Oversee all accounting functions, ensuring adherence to financial reporting standards and regulatory compliance.

· Supports Strategic Planning and Financial Integration

o Contribute to the development of the company’s overall strategic plan, ensuring financial considerations are integrated into the business objectives.

· Leads Budgeting, Forecasting, and Financial Planning

o Direct and coordinate annual budgeting processes, financial forecasting, and long-term financial planning activities.

· Provides Financial Reporting and Analysis

o Prepare regular financial reports to the Board of Directors, senior management, and other stakeholders, detailing the organization’s financial position, liquidity, profitability, and growth.

· Develops and Implements Financial Policies

o Establish and enforce financial policies, procedures, and internal controls to ensure accuracy, compliance, and risk mitigation.

· Ensures Regulatory Compliance and Internal Controls

o Maintain and monitor internal controls to safeguard company assets and ensure compliance with Generally Accepted Accounting Principles (GAAP) and other relevant regulations.

o Coordinate with External Auditors and Accounting Firms

o Work with external auditors and accounting firms to prepare, review, and present financial statements and reports to the Board of Directors.

· Executes Risk Management and Mitigation plans

o Identify financial risks and implement strategies to mitigate potential threats to the company’s financial health and stability.

· Manages Treasury and Cash Flow Management

o Oversee treasury functions, ensuring effective cash flow management and working capital optimization to meet operational and strategic needs.

· Provides Leadership and Team Development

o Lead and mentor the finance team, fostering a high-performance culture and ensuring continuous professional development.

Other functions and Responsibilities

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

COMPETENCIES

1. Patient & Customer Focus

2. Ethical Conduct

3. Flexibility

4. Initiative

5. Personal Effectiveness/Credibility

6. Stress Management/Composure

QUALIFICATIONS

Education:

· Bachelor’s degree in accounting, Finance, or a related field.

· A master’s degree in business administration (MBA) or Finance is preferred.

Licenses and Certifications:

· Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation is preferred.

· Certified Healthcare Financial Professional (CHFP) or equivalent healthcare financial certification preferred.

Experience:

· Minimum of five years of progressive experience in financial management or accounting, with at least three years in a leadership role overseeing financial strategy, budgeting, and operations.

· Experience in healthcare financial management is strongly preferred, including knowledge of revenue cycle management, payer contracting, and regulatory compliance specific to the healthcare industry.

· Proven track record of successfully leading financial teams, driving operational efficiencies, and providing strategic financial insights to executive leadership.

Knowledge:

· Financial Management Expertise:

o Comprehensive understanding of financial management principles, including financial planning, analysis, budgeting, and forecasting, with the ability to direct professional staff and coordinate all fiscal activities across the organization.

· Healthcare Financial Practices:

o In-depth knowledge of clinic financial and budgetary practices, with a focus on developing annual budgets, analyzing financial performance, and preparing financial statements tailored to healthcare operations.

· Regulatory and Compliance Knowledge:

o Strong understanding of governmental regulations, healthcare financial regulations, and compliance standards (e.g., HIPAA, CMS, GAAP, etc.), including reporting and auditing requirements specific to healthcare organizations.

· Financial Software Proficiency:

o Advanced proficiency with Microsoft Office Suite (Excel, PowerPoint, Word) and experience with commercially available accounting software (e.g., QuickBooks, NetSuite, or similar financial management tools).

Skills:

· Leadership and Decision-Making:

o Ability to exercise initiative, sound judgment, and discretion in achieving organizational objectives and managing complex financial operations.

· Team Leadership:

o Demonstrated ability to lead, mentor, and develop financial and accounting staff, as well as build strong working relationships with physicians, management, and other stakeholders.

· Interpersonal and Communication Skills:

o Excellent ability to communicate complex financial information in clear, actionable terms to non-financial stakeholders, including senior executives and board members.

· Resource Management:

o Ability to anticipate organizational resource needs, optimize resource allocation, and drive operational efficiencies across the finance department and wider organization.

· Strategic Thinking:

o Skill in developing and executing long-term financial strategies that align with the company’s overall goals, while ensuring financial stability and growth.

· Delegation and Oversight:

o Ability to delegate effectively, empowering staff to take ownership of tasks while ensuring the integrity and accuracy of financial operations.

Job Tags

Similar Jobs