Chief Financial Officer (CFO)
Job Classification: Full-time, Exempt
Reporting Relationship: Reports to CEO
The Chief Financial Officer is responsible for the management of all financial activities of the hospital while also assuming the leadership responsibility and ultimate oversight for all fiscal services that involve the business and administrative functions of the hospital. The CFO works with the CEO and Governing Board to make financial recommendations and decisions that yield positive outcomes in accordance to the hospital’s mission, vision and values.
• Oversee long-term budgetary planning and cost management in alignment with strategic plan.
• Prepare and maintain regular financial planning reports; Monthly profit and loss forecast (vs. budget); cash flow forecast.
• Oversee cash, investment, and asset management.
• Oversee the Business Office and Health Information Departments to ensure proper maintenance of all accounting systems and function; supervise materials management staff.
• Ensure legal and regulatory compliance regarding all financial functions.
• Complete the month-end, quarter-end, and year-end financial statements.
• Review all month-end closing activities including general ledger maintenance, balance sheet reconciliations and overhead cost allocations.
• Serve as a key point of contact for external auditors; manage preparation and support of all external audits.
• Mange the hospital’s insurance program (i.e. malpractice, liability, etc).
• Manage the hospital’s finances on real estate affairs consisting of leases and sub-leases.
• Maintains a thorough working knowledge of federal, state and managed care reimbursement payment methodologies, including: contractual accounting, payment calculations, billing requirements and compliance issues.
• Keeps up to date with all federal statutes surrounding participation in the Medicare and Medicaid programs, including, but not limited to: EMTALA, Medicare fraud and abuse issues, Stark legislation, and IRS guidelines pertaining to the operation of not for profit entities.
• Monitors capital asset expenditures and depreciation; prepares annual operating budgets with input and involvement at the department level, as well as capital budgets and cash flow projections.
• Responsible for developing a three year capital budget to identify and plan for organizational capital needs.
• Ensures the accurate and timely filing of federal, state, third party and other financial reports as required, including the Medicare and Medicaid Cost Reports.
• Responsible for developing a formal budget and supervising the budget process. Develops, coordinates and analyzes the hospital’s policies on finance, accounting, insurance, patient billing and internal controls.
• Evaluates and recommends to the CEO an appropriate rate/charge structure and any changes as necessary.
• Review and analyze cost performance including staff productivity, supply utilization, administrative costs, variances to budget. Monitors and measures performance against internal and external benchmarks.
• Masters in accounting or healthcare administration preferred.
• Prior hospital CFO experience preferred
• Critical Access Hospital experience preferred.
• CPA preferred.
• Eye/Hand, Eye/Foot and Hand/Foot Coordination.
• Normal eyesight, with or without corrective lenses.
• Normal hearing, with or without hearing aids.
• Motor coordination and manual dexterity.
• Sits, stands, bends, lifts and moves intermittently during work hours.
• The ability to exert up to 20 pounds of force occasionally, and/or up to 10 pounds of force frequently.
• Well-lit/ventilated office.
• Subject to frequent interruptions.
• Willing to work beyond normal working hours when necessary.
• Meet and talk with a wide variety of patients, visitors, providers, employees, and resource contacts.
• Subject to hostile and emotionally upset patients, family members, personnel, visitors, etc.
Additional duties and responsibilities may be added to this job description at any time. The job description does not state or imply that these are the only activities to be performed by the employee holding this position. Employees are required to follow any other job-related instructions and to perform any other job-related responsibilities as requested by their Supervisor or assigned charge personnel.