Job Title: Director/Chief Financial Officer (CFO) of a Hospital SystemLocation: Greater Boston, MA- OnsiteDuration: Full TimeJob Summary: The Director/Chief Financial Officer (CFO) at the Hospital System will play a crucial role in shaping the financial health and strategic direction of the healthcare system. As a key member of the executive leadership team, the Director/CFO will oversee all financial operations, including financial planning, management of financial risks, record-keeping, and financial reporting. The ideal candidate will have deep experience in healthcare finance, a strong understanding of hospital operations, and a proven track record of financial leadership in complex, multi-facility healthcare systems.
Key Responsibilities:- Financial Strategy & Leadership:
- Develop and implement financial strategies that support the hospital's overall goals and objectives.
- Provide financial leadership and strategic advice to the CEO, Board of Directors, and executive team.
- Lead the financial planning, budgeting, and forecasting processes.
- Oversee investment strategies and capital structure to ensure the hospital's financial stability and growth.
- Financial Operations:
- Direct and manage all financial functions, including accounting, billing, collections, payroll, financial reporting, and audits.
- Ensure the accuracy and integrity of the hospital's financial statements and compliance with all regulatory requirements.
- Manage the hospital's revenue cycle, optimizing billing and collections to maximize cash flow.
- Oversee cost management, including expense control, procurement, and vendor contract negotiations.
- Compliance & Risk Management:
- Ensure compliance with all healthcare financial regulations, including Medicare, Medicaid, and private insurance requirements.
- Develop and implement internal controls to safeguard the hospital's assets and ensure financial accuracy.
- Oversee risk management strategies to mitigate financial and operational risks.
- Financial Reporting:
- Prepare and present comprehensive financial reports to the Board of Directors, CEO, and executive team.
- Provide timely and accurate financial analysis and insights to support decision-making.
- Lead the annual financial audit process and manage relationships with external auditors.
- Leadership & Team Management:
- Lead and mentor the finance team, fostering a culture of accountability, collaboration, and continuous improvement.
- Promote professional development and provide opportunities for staff growth and advancement.
- Collaborate with department heads and clinical leaders to align financial goals with operational needs.
- Strategic Partnerships & Relationships:
- Build and maintain strong relationships with financial institutions, investors, and other external stakeholders.
- Work closely with government agencies, insurance companies, and other healthcare providers to enhance financial performance and operational efficiency.
Qualifications:- Bachelor's degree in Finance, Accounting, or a related field; MBA, CPA, or equivalent advanced degree preferred.
- Minimum of 10 years of progressive financial leadership experience, with at least 5 years in a senior financial management role within a healthcare setting.
- Deep understanding of healthcare finance, including knowledge of Medicare/Medicaid, healthcare reimbursement, and regulatory requirements.
- Proven track record of financial strategy development, cost management, and operational improvement.
- Strong leadership and team management skills, with the ability to communicate effectively with diverse stakeholders.
- Experience with financial systems and tools, including enterprise resource planning (ERP) systems and healthcare-specific financial software.
Skills & Competencies:- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
- Ability to work in a fast-paced, dynamic environment.
- High level of integrity and ethical standards.
- Strategic thinker with a focus on innovation and continuous improvement.
