Vice President and Chief Financial Officer in Rockville, MD

$$250K+(Ladders Estimates)

Kaiser Permanente   •  

Rockville, MD 20850

Industry: Hospitals & Medical Centers


8 - 10 years

Posted 10 days ago

Description:The Vice President and Chief Financial Officer (CFO) is responsible for the oversight of the financial health and viability of our business and ensuring that financial resources are aligned with the strategic plan of the region. As a partner with the Executive leadership of the Region, the CFO plays a key role in business decisions to maximize the value of our financial resources and community investments. She/he participates in determining our strategic direction and competitive position in our regional markets and shapes the business by tracking progress and forecasting outcomes of operations compared to planned objectives. The CFO is also a major contributor to the financial leadership team across the Program. In brief the CFO assumes three types of roles: Strategic leadership, i.e. using creative financial and business insight to play a key role in helping the Region identify, evaluate and act upon market opportunities. Core financial operations, i.e. overseeing internal control, accounting process, accounting and financial reporting, financial and insurance transactions, financial risk management, business/financial/systems planning and analysis, financial performance measurement, budgeting/forecasting, decision support, cost structure/cash flow improvements, actuarial estimation and revenue cycle operations. Business -ambassador-, i.e. demonstrating the confidence, business acumen, negotiating, interpersonal and communication skills required to represent the Region in critical business dealings, relationships, and negotiations with critical suppliers, business partners and customers.

Essential Responsibilities:

- Accounting and Control: Designs effective control processes to track financial performance against expectations, including early -red flags- to identify potential shortfalls.

- Creates a culture of compliance and financial discipline across the organization.

- Ensures integrity of measurement and control processes and all financial and reporting statements. Ensures adherence to generally accepted accounting practices, legal, regulatory and fiduciary requirements.

- Assess effectiveness of the control environment and underlying business fundamentals.

- Meets filing deadlines and maintains compliance with government regulations.

- External relationships with regulators in Maryland, Virginia, and Washington DC.

- Reporting: Reviews and communicates regional performance to key leaders. Continuously forecasts the progress and momentum in key operations against planned objectives.

- Participates in the development of leveraged systems to meet financial reporting needs of local markets and Program. Ensure the success of these leveraged services by supporting timely and thorough transition of reporting responsibilities.

- Serves as business liaison for reporting financial data to the Program.

- Develops communication strategies for Executive Leadership rollup/summaries of MAS financial performance.

- Planning and Investment Analysis: Oversees financial and cost analysis of planned financial objectives and identifies corrective actions. Partners with key leaders to shift (or maintain) direction.

- Monitors market environments and competitive positioning of each business unit; identifies opportunities.

- Evaluates potential capital expenditures for a program of approximately $250m per year.

- Oversee the Decision Support and Analytics department which complements our care delivery operations.

- Business Development: Provides technical analytical support to the Region in assessing and developing optimal financial agreements. Builds the capability to work with others to screen and evaluate potential business opportunities. Participates in building a business case for new ventures.

- Strategic Planning: Works with others to develop the strategic direction of business units within the Region.

- Reviews Region-s short and long range financial planning and budgeting processes, assesses the feasibility of plans, identifies key risks and links these processes to the strategic direction of the business.

- Evaluates and champions market opportunities that improve cost structure and competitiveness, e.g. new products, business offerings.

- Responsible for KMSLLC cost management oversight with direct responsibility on or over one or more of the following KMSLLC activities: medical office operations staffing, building acquisition, construction, maintenance and replacement, building and medical supplies, medical equipment, facility and medical equipment leases, budgeting, and monthly provision of financial reporting documents.

- Information Systems and Shared Services: Needs to be familiar with common business finance IT systems and architecture.

- Sponsor and manage implementation of major financial system implementations, including conversions to shared service functions.

- Create and monitor agreements with shared service functions.

- Corporate/Division Management: Participates in all major business decisions to maximize value of the MAS Region and Program-wide financial resources and community investments.

- Builds credible and effective relationships with other regional and Program-wide finance leaders to develop best practices.

- Oversees development and succession planning for future financial leaders for MAS and the Program.

- Serves as member to other key strategic initiative or program-wide committees that effect financial viability.

- Financial Risk Management: Ensures optimal revenues, identifies areas for cost/productivity improvements.

- Initiates discussions and determines impact of financial risk when formulating new or monitoring existing business practices and risk relationships.

- Assures protection and preservation of existing assets by establishing appropriate internal controls and risk management practices.

- Financial Transactions Functions: Oversee the effective and efficient functioning of key financial and insurance functions, including claims, AP, member accounting, patient accounting.

Basic Qualifications:


- Minimum seven (7) years of experience in various financial areas.

- Minimum eight (8) years of management experience involving diverse financial functions.


- Bachelor-s degree in accounting or finance.

License, Certification, Registration

- N/A.

Additional Requirements:

- Demonstrated track record in providing financial leadership in a complex large sized business. Experience as a financial leader in a senior team.

- Experience implementing financial controls and reporting systems to improve management capabilities and results for local market and impact within a larger business unit. Knowledge of the application of data processing to various accounting systems.

- Demonstrated track record of developing and leading high performing teams.

- Demonstrated ability to negotiate -win-win- situations as it relates to business decisions. Demonstrated ability to manage large, complex financial system conversions.

- Ability to understand and assess complex market conditions and recommends necessary cost structure improvements or revenue growth opportunities.

- Must share the values of Kaiser Permanente and its Senior Leadership Team.

- Ability to build effective partnerships and influence other leaders.

- Ability to consistently demonstrate integrity, prudence, high energy, initiative, and self-confidence.

- Familiarity with governmental programs in the health care field, which will affect the financial operations of the business.

- Dedication to diversity.

Preferred Qualifications:

- Experience in health care field or managed care environment highly desirable.

- Master-s degree with a CPA or equivalent work experience preferred.

Valid Through: 2019-11-1