Job DescriptionJob SummaryThe Assistant Chief Financial Officer (Assistant CFO) supports the hospital's financial operations and strategic decision-making to ensure the organization's fiscal health and sustainability. This role assists the Chief Financial Officer (CFO) in overseeing accounting, budgeting, revenue cycle, and financial planning activities while maintaining compliance with regulatory requirements and corporate policies. The Assistant CFO collaborates closely with Shared Business Office partners and department leaders to enhance operational efficiency, manage expenses, and drive performance improvement. This position also serves as part of a financial leadership development pathway, preparing incumbents for future advancement to a Chief Financial Officer role within the network.
Essential Functions- Assists the CFO in managing all aspects of hospital financial operations, including accounting, budgeting, audits, tax reporting, and financial planning.
- Oversees and evaluates financial performance across service lines, departments, and cost centers, identifying opportunities for improvement.
- Supports the CFO in developing and implementing financial strategies that align with the hospital's operational and strategic objectives.
- Assists with forecasting, productivity analysis, and long-term capital planning to ensure sustainable financial performance.
- Participates in the preparation and review of monthly financial statements, variance analyses, and operational performance reports.
- Evaluates utilization, productivity, and expense management metrics to ensure efficient resource allocation.
- Participates in monthly hospital operation reviews and corporate meetings, presenting financial analyses and recommendations as requested.
- Represents the Finance department in hospital and community settings, including Board of Directors meetings, medical staff meetings, and community outreach initiatives.
- Mentors and develops financial staff to enhance analytical capabilities and operational awareness.
- Develops leadership, business acumen, and operational knowledge necessary to advance to a Chief Financial Officer position within the network.
- Performs other duties as assigned.
- Maintains regular and reliable attendance.
- Complies with all policies and standards.
Leadership Responsibilities- Supervision and Staff Management
- Provides leadership, mentorship and professional development opportunities for departmental staff.
- Schedules employees to ensure effective use of resources. Consults with leadership on any potential staffing issues.
- Conducts performance evaluations, sets goals and provides feedback to staff on their performance and development.
- Strategic Planning and Financial Oversight
- Collaborates with hospital leadership to set the strategic direction for the department, including budgeting, resource allocation and long-term planning.
- Monitors expenditures, ensuring cost-effective delivery of services.
- Evaluates and implements new technologies to enhance operational efficiency.
- Develops and implements departmental policies and procedures and protocols to optimize quality and overall efficiencies.
- Quality Assurance and Regulatory Compliance
- Ensures compliance with all relevant regulatory bodies. May oversee the accreditation process with relevant agencies ensuring that services meet or exceed industry standards.
- Participates in audits, inspections and accreditation processes as applicable.
- Follows established quality control practices to ensure accuracy, consistency and safety.
- Collaboration and Communication
- Works closely with leadership teams to coordinate and improve service delivery.
- Stays up-to-date with industry advancements, new technologies, and regulatory changes.
- Staff Responsibilities
- May work in a staff role, when required. Ensures that duties and responsibilities are fulfilled while meeting all competencies established for that job.
Qualifications- Bachelor's Degree in relevant field required or
- Eight (8) plus years of direct experience in lieu of a Bachelor's degree required
- Master's Degree preferred
- 4-6 years of experience in closely related field with Bachelor's degree required
- 5-7 years of previous leadership experience preferred
Knowledge, Skills and Abilities- Strong leadership, organizational, and communication skills.
- Ability to collaborate with interdisciplinary teams and manage cross-functional relationships.
- Foster a positive work environment that promotes teamwork, professionalism, and continuous improvement.
- Communicate effectively with leadership, team members, and stakeholders.
- Ability to work effectively with others, delegate responsibilities, and independently manage tasks while meeting established deadlines.
- Problem-solving and critical thinking skills.
- In depth knowledge of industry best practices and regulatory compliance (if applicable).
- Strong organizational and time management skills.
- Proficiency with Google and Microsoft platforms, healthcare software systems, and data analysis tools.
