The Chief Financial Officer is responsible for the general financial planning and management of the organization and, in conjunction with the CEO, is charged with accountability for the organization’s assets. The CFO manages and coordinates the business and administrative activities for the organization including accounting, accounts payable, financial reporting, billing, budgeting, purchasing, cash management, risk management, payroll, tax filings, cost reporting, grant filings, and business analytics.
Representative Duties:
Financial Strategy & Leadership
- Develop and implement comprehensive financial strategies in alignment with mission and goals.
- Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory action.
- Optimize cash flow, liquidity, and banking relationships to support organizational goals and initiatives.
- Cultivate strategic partnerships with internal and external stakeholders to support fundraising efforts and organizational growth.
- Provide strategic financial input and leadership on decision making issues affecting the organization, i.e., evaluation of potential alliances acquisitions and/or mergers and pension funds and investments.
- Enhance credibility throughout the organization and with the Board as an effective developer of solutions to business challenges.
Financial Operations & Reporting
- Oversee accounting, billing, and revenue cycle management to ensure accuracy and efficiency.
- Ensure the timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO, the Board and other senior executives in performing their responsibilities.
- Enhance and/or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness.
- Lead the annual budgeting process, providing strategic recommendations and forecasting financial performance.
- Lead continual improvement of the budgeting process through education of department managers on financial issues impacting department budgets.
- Develop a reliable cash flow projection process and reporting mechanism that includes minimum cash threshold to meet operating needs.
- Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.
- Chair Investment Committee
- Prepare accurate and timely financial reports for executive committee, leadership committee, the Board of Directors, and regulatory authorities.
Leadership & Team Development
- Provide strong leadership to the finance team, fostering a culture of excellence, collaboration, and professional development.
- Evaluate the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as provide individuals with professional and personal growth with emphasis on opportunities for individuals (when possible).
- Conduct regular performance evaluations, provide ongoing feedback and coaching, and make employment-related decisions.
- Partner with clinical and operational leaders to align financial resources with patient care objectives.
- Ensure compliance with state and federal regulations, requirements of licensors, funders, accreditors, auditors and ensure best practice for compliance within the Finance department.
- Ensure compliance with federal, state, and local reporting requirements, including Uniform Data System (UDS), the Health Resources and Services Administration (HRSA), and FQHC-specific guidelines.
- Oversee management of contracts, grants, and agreements, ensuring compliance and effectiveness. Collaborate with internal teams to optimize utilization of grant funds.
- Advise from the financial perspective on any contracts into which the organization may enter.
- Oversee audits and liaise with external auditors and regulatory agencies.
Requirements:
Education and Certifications:
- Master’s degree in Business Administration (MBA), Healthcare Administration (MHA), or related field required
- Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation highly desirable
Experience/Other Requirements:
- Minimum 5 years of experience as a CFO in healthcare, nonprofit organizations, or FQHC
- Expertise in nonprofit accounting principles, GAAP, and financial reporting.
- Proven track record in managing state and federal grants, ideally with experience in HRSA regulations.
- In-depth knowledge of financial planning, budgeting, and reporting in a highly regulated healthcare environment.
- Expertise in federal and state healthcare reimbursement systems and value-based care models. Knowledge of 340B program desirable.
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