Director of Financial Operations - Hybrid

DUTIES AND RESPONSIBILITIES

Financial Strategy and Planning
Lead the development and implementation of financial strategies that support the organization’s objectives, both short-term and long-term.
Provide financial insights and recommendations to senior leadership to drive decision-making, focusing on cost optimization, revenue generation, and sustainable growth.
Work closely with the executive team to align financial goals with the overall business strategy, ensuring proper resource allocation and efficient operational planning.
Develop, review, and update the organization’s annual budget and financial forecasts in coordination with other departments and management teams.

Financial Reporting and Analysis
Oversee the preparation of accurate financial statements, reports, and analyses, including income statements, balance sheets, and cash flow statements.
Ensure that financial reporting is compliant with healthcare regulations and accounting standards, such as GAAP or IFRS.
Conduct regular financial performance reviews and analysis, identifying areas for cost savings, revenue improvement, and other operational efficiencies.
Provide insightful and actionable financial reporting to senior leadership and stakeholders, translating complex financial data into easily understood recommendations.

Budgeting and Forecasting
Lead the budgeting process, ensuring that budgets are in line with organizational goals and reflect the operational needs of various departments.
Monitor and manage variances from the budget, offering corrective actions and adjustments as needed.
Work closely with department heads to ensure accurate forecasting and tracking of expenses and revenues.

Cash Flow and Risk Management
Oversee cash flow management, ensuring the organization has sufficient liquidity to meet operational needs and financial obligations.
Develop and maintain financial models that assess liquidity, solvency, and financial risks, and implement strategies to mitigate potential risks.
Manage relationships with financial institutions, lenders, and other stakeholders involved in financing and investment activities.

Compliance and Regulatory Oversight
Ensure compliance with all healthcare financial regulations, such as HIPAA, Medicare/Medicaid reimbursement guidelines, and any other industry-specific standards.
Stay up to date on changes to healthcare legislation and accounting standards to ensure the organization’s financial practices remain compliant.
Oversee the preparation of financial documentation for external audits, tax filings, and regulatory reporting.

Team Leadership and Development
Manage, mentor, and develop the finance team, providing guidance on financial best practices and professional development opportunities.
Foster a collaborative and productive environment within the finance department and across departments, ensuring clear communication and alignment of financial goals.
Encourage and drive continuous improvement in financial systems, processes, and reporting to streamline workflows and enhance team performance.

Cost Control and Operational Efficiency
Implement financial controls and procedures to monitor and track spending, ensuring effective cost management and avoidance of unnecessary expenditures.
Evaluate and streamline financial processes, utilizing technology to improve efficiency, reduce errors, and provide more real-time insights into financial performance.
Work with other departments to identify opportunities for improving operational efficiencies that can enhance the organization’s financial position.

QUALIFICATIONS

Education
Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
Master’s degree or CPA preferred.

Experience
8+ years of experience in financial management, with at least 3 years in a senior leadership role, preferably in the healthcare sector.
Experience with financial reporting standards (GAAP, IFRS) and healthcare regulations (HIPAA, Medicaid/Medicare compliance).
Experience with budgeting, financial forecasting, and cash flow management in a healthcare setting.
Proven experience managing cross-functional teams and collaborating with other departments, such as operations, compliance, and clinical staff.

License(s)/Certification(s)
Certification in financial management (e.g., CPA, CFA, CMA) is a plus.

Knowledge/Skills/Abilities
Strong understanding of