The CFO plays a crucial role in defining and establishing the necessary management and accountability systems to support a customer-driven, results-oriented, and high-performance finance function. The CFO will lead, manage, and direct all financial activities for the health center, including participation in the development of the strategic plan, guiding, and directing the auditing and budgeting processes. The CFO Develops, maintains, and enhances relationships with Board of Directors, regulators, the SEIU 1199 union, financial institutions, payers, ACO and other stakeholders. Reporting directly to the Chief Executive Officer, the CFO will have direct responsibility for financial planning, financial policies and controls, budgeting, reporting, asset management, investments, trending, and forecasting. The CFO is a member of the Executive team and serves on appropriate committees. The CFO also plays a central role in representing the health center externally, with our most important stakeholders: MGB, the Massachusetts League of Health Centers and the Community Care Collaborative.The most significant challenge on the horizon is the switch from a fee-for-service frame to a value-based payment model, both in and outside our ACO relationship.
DUTIES AND RESPONSIBILITIES:
- Plans, organizes, coordinates, and controls financial policies, controls receipt of revenue, expenditure of funds, and management of the organization’s assets
- Oversee financial operations, accounting, disbursement, payroll, auditing treasury and credit and collections functions; establish budgetary controls and procedures and ensure proper maintenance of financial records.
- Oversee the IT department, which includes the IT (information technology) and HIT (health information technology) divisions.
- Supervise the preparation of all regulatory reports (i.e. FSR, UDS, Medicare, Medicaid, IRS form 990, 5500, Public Charities, etc.)
- Reviews, interprets, analyzes, and communicates financial reports and data to management and the board of directors, with the use of financial ratios that critically measure the health center’s financial position.
- Manages cash flow to assure resources for payroll and taxes, to meet timely loan requirements, and maintains accounts payable.
- Provides leadership in developing annual budgets, department feedback in assessment of adequate budget targets and staffing levels. Enhances department involvement in budget process.
- Supervises and assures completion and filing of all financial and cost reports with time requirements allowing for reasonable extension requests. Maintains current knowledge of cost report and other financial report regulations through participation in workshops, association, and peer committees and training.
- Understands and complies with all standards of Conduct, Joint commission policies, requirements set forth by the US Department of Health and Human Services Health Resources and Services Administration pursuant to Section 330 of the Public Health Service Act, applicable State regulations and guidelines, and all laws related to position responsibilities.
Demonstrated executive health care finance leadership and management experience in a multi-faceted, multi-payer organization with complex business, technical and regulatory demands. Deep commitment to and belief in the mission. Expertise in multi-payer financing and understanding of the health care marketplace. CFO must be confident in the ability to lead and effect change. Strong accounting and finance competence required to evaluate and effectively manage financial staff. Proven ability to build and nurture relationships across business functions. Position requires a strategic thinker, demonstrating insight, creativity, and understanding of health care providers and insurers, and a financial leader in enhancing performance, and addressing and solving problems. Must have a BS in Finance or Accounting, MBA or MS in Finance preferred. Experience with improvement methodologies such as Lean preferred.
Lynn Community Health Center (LCHC) provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, LCHC complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, and transfer, leaves of absence, compensation and training. LCHC expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of LCHC’s employees to perform their job duties may result in discipline up to and including discharge.
Job Posting ID: 21-190