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THAM Entity Finan Officer THAM job in Arlington at Texas Health Resources

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THAM Entity Finan Officer THAM at Texas Health Resources

THAM Entity Finan Officer THAM

Texas Health Resources Arlington, TX Full-Time

The Entity Finance Officer reports directly to the Senior Vice President Finance Operations, THR with a matrix reporting relationship to the President, Texas Health Arlington Memorial (THAM). The incumbent serves as the financial officer of THAM and routinely interfaces with members at the highest management level. The incumbent is a member of THAMs senior management team and participates in strategic planning operations, new business development, etc.

The Entity Finance Officer provides financial leadership for the following business entities: Texas Health Arlington Memorial, as well as serve as the financial liaison to integrate THAM related physician practice activities through Texas Health Physician Group.

The EFO has the following duties and responsibilities:

  • Serves as a resource for management, physicians and staff by providing accurate, timely and appropriate information to make financial decisions.
  • Assures the accurate preparation of THAM Financial statements, including the adequacy of Bad Debt reserves, Managed Care discounts, accrued liabilities and Medicare/Medicaid liabilities.
  • Provides and interprets financial information to Senior Management and all levels within the hospital providing detailed financial analysis and consulting on various projects periodically.
  • Prepares the THAM Strategic Three-Year Financial Plans. This includes the coordination of Senior Managements best estimates of profitability, capital equipment needs, working capital and financing needs.
  • Development, installation and operation of appropriate financial systems and internal control to assure the assets of the hospital are properly protected. The Entity Finance Officer is also responsible for the recording and verification of all financial transactions of the Hospital.
  • The preparation of the THAM Annual Operating and Capital Budgets and three-year financial plan. The budget is the consensus of managements expectation for the coming year. The budget is prepared once a year to project the next fiscal years financial position on a monthly basis.
  • Coordinates with THR the accurate and timely completion of tax returns, Medicare Cost Reports, capital budget tracking and entity financial audits.
  • Protecting the tax-exempt status of the hospital and for assuring that all operations are conducted within the limits of all local, state, and federal statutory requirements and limitations.
  • Serves as a member of THAMs Senior Management Teams.
  • Serves as administrative representative on various Hospital and THR Committees such as, but not limited to: Charity and Education Assistance, Finance Council, etc.
  • The budget process and assists in implementing plans to assure The Joint Commission accreditation in coordination with other members of the Administrative Team.
  • The selection, training, and compensation for all the financial positions that report directly to the incumbent.
  • Direct reporting responsibility for Patient Access Services, Hospital Supply Chain Logistics, Finance and Decision Support.
  • Matrix responsibilities and liaison for patient accounting and business services.
  • The accounting of approved construction projects.

Matrix:

  • Supply Chain Management - reviews and approves all changes in policies and procedures, which affect Texas Health Arlington Memorial and has general oversight over all local central supply, purchasing, general stores and warehouse operations.
  • Accounting Services - reviews accounting operations provided by THR Corporate Finance Department. Monitors preparation of financial statements, account reconciliations, monthly accruals and financial estimates and accounts payable.
  • Business Services - monitors patient accounts receivable, reviews and approves all changes in policies and procedures which affect THAM and has general oversight over all local business services operations, including responding to patient questions and complaints.
  • Compliance and Privacy - monitors compliance and privacy activities and works closely with the Entity Compliance Officer and is accountable to the THR System Compliance Officer, the THAM President for entity compliance activities including the following:
    • Maintain employee awareness of business ethics/compliance program, processes and policies
    • Develop and carry out the entitys annual compliance work plan and submit quarterly reports to the Board of Trustees
    • Monitor compliance education and identify training needs as required by the THR Compliance Program
    • Review internal or external compliance audit reports and see that entity action plans are developed and carried out in response to audit findings
    • Work with the THR System Compliance Officer as requested on specific compliance inquiries or issue that may arise.

Leadership: This position is regularly involved in and must be committed to the development, teaching, advocacy and implementation of the THR Vision to a number of target groups including board members, THR, and THAM officers, employees, physicians, business community members and the public at large. The Entity Finance Officer assists in efforts to see that the Vision is known, understood and incorporated in the actions of hospital staff through demonstration of positive leadership characteristics and in general walking the talk. As a leader within THR & THAM, the incumbent will create an enabling environment, set the direction, inspire a shared vision, and communicate to achieve the Mission and the Vision.

Delegation and Level of Authority versus Personal Expectations: The Entity Finance Officer is responsible for the direct supervision of the Decision Support/Budget, Health Information Management, Payroll, Cashier and Patient Access Services Departments. The incumbent also serves as the matrix administrator and has dotted line responsibility for the Business Services, Supply Chain Management,

Accounting Services, and Privacy/Compliance departments including review and approval of all financial policies and procedures affecting THAM as well as general oversight authority. The Entity Finance Officer shares responsibility for ensuring the financial viability of the Hospital and in conjunction with other management staff promotes the delivery of high quality care.

Physician Relationships: The Entity Finance Officer supports the maintenance and development of close working relationships with members of the Medical Staff. The incumbent will work with Senior Management and Medical Staff leaders to ensure physician involvement and participation in financial planning, budgets, and performance monitoring.

Community Relations: The incumbent represents the Hospital and Texas Health Resources through participation in and leadership of various community agencies such as the United Way Campaign as well as other THR and/or THAM sponsored activities. This entails encouraging other hospital staff members in community leadership efforts as well as personal direct participation.

Management Team Participation: This position is directly involved in a number of team efforts and matrix relationships throughout the organization and is a key member of THAMs Leadership Team. The incumbent may from time to time be asked to lead major initiatives within THR. The ability to operate effectively in many dotted line or matrixes relationships in which many functions are centralized is necessary.

Mentoring: The Entity Finance Officer is actively involved in the professional development of direct reports. The incumbent also takes part in the development and professional training plans for department heads and other managers within THAM, with particular attention to the development of financial skills among hospital department managers and directors is expected.

Patient and Customer Satisfaction: The incumbent continues to develop and insist in the maintenance of a business environment in which the satisfaction of customer and patient needs is always given high priority. Regular and ad hoc surveys and other measurements of patient, physician and employee satisfaction will be accomplished with the Entity Finance Officer assistance and the result will be used to develop and execute action plans for improvement as needed.

Individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individual with disabilities to perform the essential functions. This role requires the ability to solve problems, think outside-the-box, and be resourceful; must be result-oriented, a quick learner and self-starter. The requirements listed below are representative of the knowledge, skill, and/or ability required to build THR's culture for action.

Professional Experience/Qualifications:

  • Bachelors degree in Accounting or Finance (or equivalent) as well as certification as a Certified Public Accountant or advanced HFMA certification preferred.
  • Masters degree in hospital administration or an MBA is strongly preferred.
  • A minimum of 7 to 10 years of increasingly responsible financial management and leadership positions in a health care or related organization.
  • The Entity Finance Officer needs to possess the skills and training to manage and lead a diverse group of people.
  • The incumbent must understand the intricacies of complex organizational dynamics to effectively develop strategies for success.
  • The incumbent needs to understand how to develop and integrate systems and processes into an organization so the organizations structure can operate smoothly and efficiently.
  • The Entity Finance Officer needs to have a proven track record of success both working in and managing via a matrix structure.
  • The incumbent must have a thorough knowledge of financial accounting, cost accounting, generally accepted accounting principles and internal accounting controls as well as a general knowledge of financial analysis, planning and computer systems.
  • The Entity Finance Officer must have a continuous knowledge of supply costs and appropriately assess variances.
  • The incumbent must have the ability to organize, delegate and supervise professionals as well as clerical staff and possess good oral and written communication skills.
  • Knowledge of product pricing, provider reimbursement and financial requirements specific to hospitals are beneficial.
  • Ability to anticipate and model what changes in reimbursement will mean for the hospital.

Recommended Skills

  • Accounts Payable
  • Accounts Receivable
  • Administration
  • Auditing
  • Business Development
  • Business Ethics
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