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- Springfield, PA
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Chief Financial Officer
ExecuNet • Springfield, PA
Posted 2 months ago
The Chief Financial Officer (CFO) reports to the President/Chief Executive Officer (CEO) of CKHS. This individual serves as a member of the senior administrative team and provides financial expertise and decision support through analysis, budget development, and strategic planning. The CFO also supports the President/CEO in financial matters related to government relations.
The Chief Financial Officer provides financial leadership to CKHS in the areas of financial reporting, managed care contracting, revenue cycle, and budgeting, as well as treasury functions, including capital planning and taxes.
The Chief Financial Officer communicates the strategic financial direction for the system to other senior executives within the organization, the Board, and appropriate external parties including the capital markets. The CFO is able to coordinate a number of significant activities at one time.
CHARACTERISTIC JOB TASKS AND RESPONSIBILITIES:
- Provides leadership and counsel to the President/CEO of CKHS to assure strategic goals are met or exceeded specifically in the development of effective financial business plans for new and existing projects and programs.
- Participates as a member of the system’s Executive Team in developing policies and procedures for short and long-term strategic plans.
- Maximizes revenue while reducing cost and providing feedback to the senior management team to help foster continuous improvement.
- Manages the overall financial performance of the organization through the development of, and adherence to, operating budgets and assists senior management in streamlining operations and maximizing efficiency.
- Works with leadership to develop meaningful budgets for operating, and capital allocation.
- Ensures regulatory compliance with billing procedures.
- Manages the days in account receivables and other revenue cycle metrics to an acceptable level.
- Coordinates all external audits and works closely with the Audit Committee to ensure timeliness of audits.
- Regularly communicates with the Senior Leadership, including the System Operating and Core Operating Committee.
- Delegates responsibility and authority to managers in the performance of their duties while maintaining accountability for results.
- Develops strategy for managed care contracting.
- Develops and mentors managers to achieve corporate strategic and individual business goals.
- Maintains knowledge of current trends and developments related to financial operations.
- Attends meetings of professional, civic, and/or service organizations on behalf of the System.
- Provides a strategic vision able to see the big picture while being attentive to the day-to-day operations of the finance department.
- Functions effectively in a political environment.
- Directs good business practices in the public healthcare environment.
- Advances the mission of CKHS as the financial leader.
- Significant clinical program development and leadership experience, with demonstrated results in building high-quality and financially successful programs required.
- Must have a minimum of 10 years’ experience at the senior management level and a successful track record in operations, business strategy, financial management, and progressive line management in a hospital of similar size and complexity.
Education and Training:
- Bachelor’s degree in accounting, finance, or business administration is required.
- Master’s degree and the designation of CPA is strongly preferred.
- Must have expertise in finance, revenue cycle, managed care contracting, financial analysis, cost control, productivity enhancement and budgeting.
- Must have an in-depth knowledge of macroeconomics, debt financing, state government programs and Medicaid issues.
- Must be knowledgeable in current healthcare trends and policies.