Associate Chief Financial Officer

Compensation

Salary Range: $107.69 - $123.55 / hour

 

The pay range above represents the lowest possible rate for the position and the highest possible rate. Factors that may be used to determine where newly hired employees will be placed in the pay range include the employee specific skills and qualifications, relevant years of experience and comparison to other employees already in this role. Most often, a newly hired employee will be placed below the midpoint of the range.

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Responsibilities

The Associate Chief Financial Officer (ACFO) has responsibility for assisting in and learning the processes for planning, organizing and managing the financial systems of Community Memorial Healthcare (CMH).  Evaluates and reports the overall financial position and the results of operations of CMH. The ACFO/VP is responsible for the financial operations, including financial planning, accounting, patient accounts, budget and reimbursement functions. 

 

Essential Functions and Responsibilities:

Provides proactive, sound guidance, to the CFO/SVPregarding management of assets and investments, and financial trends within the organization.

Assists in developing  and monitoring a fiscal system which complies with various local, state and federal laws, rules and regulations.

Develop an understanding of and keep up to date with all federal statutes surrounding participation in the Medicare and Medicaid programs, as well as Medicare fraud and abuse issues, Stark legislation, and IRS guidelines pertaining to the operation of not for profit entities.

Works with department Directors and patient care executives to implement financial plans and productivity benchmarks, and to monitor progress toward financial goals.

Is actively involved in Community Memorial’s management approaches, corporate performance and the growth of a team-oriented culture.

Assist in developing, interpreting, coordinating, and communicating organizational policies on finance, accounting, budgeting, insurance, financial/accounting systems, internal controls, and auditing.

In conjunction with the CFO/SVP assists in establishing a strategic financial plan for the organization, as part of the organizations strategic planning process.

Manages a system of responsible Accounting practices, including budget and internal controls.

Generate or assist in the generation of financial statements, budgeting, preparation of analytical reports and data reporting to various governmental and other entities.

Ensures that all balance sheet accounts are reconciled on a monthly basis and a system of internal controls is in place to facilitate a clean audit opinion with no audit adjustments or internal control deficiencies noted.

Maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the health system’s cash flow.

Assist in the facilitation of organization-wide financial planning, business planning, budgeting, and resource allocation processes to drive growth and profitability.

Manage financial risks and ensure compliance with regulatory requirements for all CMH entities.

Assists CFO/SVP in negotiating and coordinating payer contracts in order to maximize reimbursement.

Understand the benefit of and supports the organization participation in the group purchasing organization (GPO).

Establish and maintain effective working relationships with officials, subordinates, vendors, customers and other staff.

Other knowledge and abilities:

• Principles and practices of hospital and healthcare budgeting and financial management.
• General and governmental Accounting principles and standards.
• Federal, state and local laws.
• Rules and regulations influencing hospital, and other healthcare fiscal operations.
• Principles of supervision and staff utilization.
• Modern office practices, forms, and equipment, including the application of data processing systems to the accounting, budget, and other financial functions.
• Principles and practice of governmental budgeting.
• Current social, political, economic and scientific trends.
• Critical Access Hospital special reimbursement rules and advantages.

Qualifications

Required:

• Master’s degree with major course work in Finance, Accounting, Business Administration or related field
• Seven (7) years of relevant healthcare business and financial services experience
• Four (4) years experience supervising a Co