Chief Financial Officer (Cfo)

Job Summary and Scope
The CFO is responsible for all the functions related to the financial operations of a hospital. These responsibilities include accounting, budgeting, accounts payable, payroll, capital, procurement, patient financial services, internal finance control functions, financial reporting, financial planning, revenue cycle, reimbursement, cost accounting, financing, insurance, strategic sourcing, supply chain, patient access, case management and food services. Lead executive responsible for the development of financial reporting including service line profitability, expense management, benchmarking and capital. Develop long range financial plans including annual budgets and guide operations management in best practices necessary to accomplish the strategic goals of the organization. The CFO directly oversees the functions of the Controller and oversees all operational aspects of revenue cycle, HIM, patient access, financial counseling and patient accounting activities. Ensure policies and procedures are developed, administered and monitored for efficient, effective management of all programs. The Chief Financial Officer is a significant member of the senior executive leadership team and is expected to build and support effective relationships with internal and external constituents. The CFO serves as one of the key components to the leadership team and is expected to provide honest counsel, both financially and strategically as they develop a report with staff, community and Board of Trustees.
Essential Functions:

• Assist executive team members in fully understanding the economics of their respective areas of responsibility.
• Assist executives in understanding financial reports.
• Lead the organization in developing capital plans consistent with budgetary and strategic realities.
• Assist the executive team in the implementation of major capital plans by helping them to monitor and maintain the financial parameters established for the project.
• Assure the provision of management reporting tools that enable review and adherence to strategic plan timetables and annual operating budgets.
• Identify areas to improve net revenue, reduce expenses, and improve workflow/operations.
• Manage and coordinate the development of the annual operating budget for SRMC including development and maintenance of 3 and 5 year business projections.
• Manage and coordinate the development of the annual capital budget.
• Manage, develop and lead an effective, responsive, best-practice financial organization with open communication and an analytical approach to business.
• Effectuates performance evaluations, personnel policies, hiring, promotion and discipline.
• Establish long term strategic plans and direct the overall annual budget consistent with the established financial targets.
• Oversee all finance related activities for business units including developing and monitoring progress against the annual budget, review monthly performance and financial results at the business unit level, and provide recommendations
• Responsible for identifying medical cost trends and leadership of medical cost improvement initiatives
• Responsible for financial analysis, identification of month end financial drivers

Direct all analytical needs of the organization and coordinate reporting strategy.
POLICIES AND PROCEDURES - Recommend, implement, audit, and enforce all financial policies of the hospitals; establish financial philosophy, policies and safeguards on internal control, billing practices, financial review and other financial activities

• The CFO will work collaboratively with other financial leaders within the Health System.
• Serve as budget advisor to administration, directors and others; prepare and present budget to CEO, Boards, Committees; monitor and report budget completion.
• Advise CEO regarding financial issues and decisions; serve as advisor on financial trends, directions, budget, capital and other financial issues as needed to colleagues, managers, boards, and others
• Lead capital budget committees; participate in meetings and committees of hospital and Health System.
• Provide input and leadership to UNM SRMC initiatives and processes.
• Advise CEO regarding financial issues and decisions; serve as advisor on financial trends, directions, budget, capital and other financial issues as needed to colleagues, managers, boards, and others
• Ensure adherence to Hospital and departmental policies and procedures.
• Provide leadership in strategic planning and evaluation/assessment of growth and operational initiatives as well as the evaluation, development and implementation of new programs and service lines, capital acquisition (including campus planning and future expansion) and technological investments. This includes the evaluation and assessment of future facility operations to ensure strong financial and operating outcomes. Oversee HRSA, DSH, Medicare Cost Report, HUD and other state and federal reporting and compliance requirements.
• Contribute to the organization's strategic plans and goals as a member of the Executive Management Team and ensures that an integrated financial plan is in place that supports organizational goals and objectives
• Evaluate programs, departments and centers of excellence as they relate to profitability, efficiency and reimbursement
• Negotiate with vendors to achieve financial objectives while maintaining positive relationships.
  16. Coaching and developing direct reports that results in enhanced performance outcomes.
• Provide support to the Finance Committee of the Board
• Perform miscellaneous job-related duties as assigned

SRMC Core Values
Integrity: Our words and actions match our values
To Serve: We put the needs of others before our own
Excellence: We strive to exceed expectations and/or standards in every activity, every encounter, and every initiative
Safety/Quality: We provide evidence based care, programs, services, and an environment that achieves the best outcomes
Teamwork: We enjoy the ability and power to work collaboratively to deliver exceptional service
Accountability

• Knowledge and Expertise: We believe our patients deserve to have people caring for them who are knowledgeable and technically proficient in what they do.
• Safety Awareness: We all share in the responsibility of maintaining a safe environment for our co-workers, patients and customers.
• Sense of Ownership: We take pride in what we do, taking responsibility for the outcomes of our efforts.
• Fiscal Responsibility: We are accountable to ensure responsible use of resources to provide the needed services for all those we serve.
• Integrity: We believe in complying with all government rules and regulations relative to receiving compensation for our services.

Communication Skills

• Strong written, verbal and presentation communication skills
• Strong interpersonal skills and the ability to work effectively with a wide range of constituencies in a diverse community

Required Qualifications
• Comprehensive knowledge of health care financial systems, regulations and practices
• Knowledge of Joint Commission standards applicable to an acute care hospital
• Strong organizational and analytical abilities that allow for multiple project leadership, mentoring and decision making
• Strong technical and analytical skills; knowledge of financial planning, budget management principles, policies, and financial laws and regulations
• Knowledge of credit and collection principles, procedures and standards and all aspects of medical billing, collections and related functions
• Demonstrated results oriented management and delegation skills
• Ability to keep abreast of federal regulations, congressional actions and state and local activities influencing fiscal management of the organization
• Ability to design and develop complex financial models
• Ability to design and implement integrated financial control systems, policies and procedures
Education/Experience
Education: Master's Degree in Finance, Accounting or related field or Certified Public Accountant (CPA)
Licenses/Certifications: CPA
Work Experience: Ten (10) years of progressively more responsible work experience in healthcare finance.
Preferred Educational/Experience Requirements:
Supervision

• Review and approve the performance appraisal and salary increase recommendations submitted by supervisors or their respective subordinates
• Participate in the resolution of employee complaints or problems

Conditions of Employment
• Must pass a pre-employment criminal background check, reference checks and a post offer drug screen.
• Must be employment eligible as verified by the U.S. Dept. of Health and Human Services Office of Inspector General (OIG) and the Government Services Administration (GSA).
• Tuberculin Skin Test required annually
• Hospital required vaccinations
• Hospital required competencies
Working Conditions

• Typical office and/or patient care, acute care hospital environment.
• Must be able to travel locally between facilities and within the surrounding community.
• Occasional exposure to minimal physical risk