Job Summary: Leading as one, the VP-CFO of Nevada will collaborate with key Kaiser market leaders (Market President, Executive Medical Director, Health Plan Leader), Renown, KP Medical Foundation Financial and KPNV Operational Leaders to ensure that the health and healthcare needs of members and patients in KP Nevada are met through joint oversight for critical functions inclusive of access, quality, service, and affordability. The Nevada Market CFO has a dual-reporting relationship to the SVP, CFO, Integrated Care & Coverage and the Nevada Market President and is responsible for the oversight of the overall financial health and viability of the Nevada Market. As a key member of the Executive Leadership Team, the Market CFO will play a critical role in business decisions to maximize the value of financial resources and community investments. The Market CFO will participate in executing the strategic direction already defined for KP Nevada including standing up the Integrated Care and Coverage market, achieving a competitive price position on products, unlocking synergies, and evaluating future expansion within the state beyond Northern Nevada. This individual drives the competitive position of KP Nevada and influences business strategy by tracking progress and forecasting fiscal operational impacts compared to short- and long-term market objectives. The Market CFO will partner with Market, Enterprise, and KP Medical Foundation Leaders to ensure that financial resources are aligned with the Markets economic plans and overall Market budgets consistent with the original joint venture business case and strategy.
Essential Responsibilities:- New Market Stand-up Strategic and Financial Oversight
- Establish the KP Finance organization to support the Nevada market, inclusive of standing up the people, processes, and systems to operationalize a new market for KP using KP shared services and connecting with KP Medical Foundation financial and operational shared services
- Support the Market President in implementation planning and budgeting for the Nevada market, including new medical office development, IT systems and shared services capability deployment.
- Track the overall success and performance of the market, aligning with the national strategy and market objectives by achieving or exceeding business case objectives e.g., membership growth, Medical Loss Ratio, Administrative Loss Ratio, operating margin, quality measures including Medicare Stars, and consumer experience.
- Collaborating with Renown health system partner, provide financial leadership for hospital and continuum, identifying joint improvement initiatives.
- Develop a multi-year budget and forecast in alignment with the overall integrated care and coverage portfolio and original business case in collaboration with the Market President, Executive Medical Director, National Health Plan, and KP Medical Foundation
- Partner with Market President, Executive Medical Director and Health Plan Leader to align operational and strategic oversight with financial performance,
- Coordinate with Enterprise and Integrated Care and Coverage Finance functions and KPMF Finance to provide data, analytics, planning and reporting tools to drive KP NV outcomes.
- Develop markets Profit and Loss (P&L) statement, ensuring financial performance aligns with strategic goals and managing a budget to support performance and growth.
- Manage and track the total cost of care for members, including monitoring the performance of Long-term Payer and Provider Contract.
- Implement strategies to enhance value and reduce unnecessary expenditures and manage expenses to support affordability.
- Monitor the overall performance of the joint venture, working closely with the partner health system to ensure transparency, accountability, and shared financial success.
- Foster open communication and regular performance reviews with leadership team to proactively identify opportunities and address challenges together.
- Performance Management
- Drive overall Market performance and initiates business and financial analytics to ensure performance success to support strategic and economic plans.
- Oversee all aspects of financial management within the Market, including the development of information and analysis of key financial and operational data, as well as partnering with key leaders and KP Nevada JV Board to improve the direction of the Markets performance.
- Responsible for advising on pricing and product strategies across all lines of business including continual awareness of the external competitive environment.
- Systematically and comprehensively assess the financial opportunities, challenges and risks facing the Market.
- Review and communicate Market performance to key leaders and KP Nevada JV Board including Renown the JV partner. Continuously forecasts the progress and momentum in key operations against planned objectives.
- Communicate to a variety of internal and external audiences regarding the Market financial performance, risks, opportunities, and plans.
- Build and maintain a responsive, motivated, and high performing Market finance organization.
- Develop key financial and planning relationships with the National Ambulatory Operations and KP Medical Foundation.
- Support network contracting by evaluating contract terms and developing key relationships with Renown finance leadership.
- Accountable for overall Market P&L in partnership with the Market President, KP Medical Foundation, Market Leadership Team, and KP Nevada JV Board
- Work with ICC, National Health Plan, KP Medical Foundation and Shared Services Finance leaders and Operations to drive financial performance of Care and Coverage in KP Nevada.
- Support provider planning initiatives to with appropriate financial analytics support to drive performance in the market.
- Planning and Investment Analysis
- Lead an integrated Market planning process that encompasses business, capital, and financial planning in support of the Market and Enterprise strategy.
- Facilitate Capital project evaluation, prioritization and approval for Market.
- Hold approval authority of capital expenditures and business cases in partnership with the Market President and KP Nevada JV Board.
- Business Development
- Support the integrated care coverage model, clinical delivery system, and provider system/medical group contracting strategies.
- Provide technical analytical support in assessing and developing optimal financial agreements.
- Assess and evaluate potential business opportunities. Participate in building business cases for new ventures and partnerships.
- Management of Key Finance Functions
- Oversight
- Oversee management of all core finance processes and functions, including those that reside in Market and National Shared Services. Specific accountabilities include, but are not limited to internal control oversight, accounting process, accounting and financial reporting, statutory reporting, financial and insurance transactions, financial risk management, business/financial/systems planning and analysis, financial performance measurement including all lines of business, budgeting/forecasting, decision support, cost structure/cash flow improvements including benefit realization of initiatives, actuarial estimation and revenue cycle operations.
- Ensure optimal revenues and identify areas for cost/productivity improvements.
- Initiates discussions and determines impact of financial risk when formulating new or monitoring existing business practices and risk relationships.
- Assure protection and preservation of existing assets by establishing appropriate internal controls and risk management practices.
- Oversee medical risk adjustment coding.
- Oversee contracting and optimization opportunities with partner hospital systems and medical group
- Responsible for developing the market finance team including mentorship, stretch opportunities, and thoughtful development discussions to ensure career progression for the span of control that resides under the Market CFO.
- Primary financial point of contact with regulators (Department of Insurance, etc.) and State Health Authorities.
Basic Qualifications: Experience
- Minimum ten (10) years of experience in various financial areas of a multi-faceted health plan, health care system, and/or multi-service provider setting.
Education
- A bachelors degree in accounting or finance is required
License, Certification, Registration
Additional Requirements:- Demonstrated track record of developing and leading high performing teams.
- Demonstrated track record in providing financial leadership in a large, complex business, serving as a strategic business partner to the 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.
- Experience managing a broad range of financial and organizational issues, such as organizational redesign, improving internal controls, significant contract negotiations; revenue cycle management, financial turnaround, creating a performance-oriented organization, and change management.
- Demonstrated ability to negotiate -win-win- situations as it relates to business decisions.
- Willingness to challenge the status quo.
- Prior experience working in a complex payer organization, possessing facilitation, negotiation, and consensus building skills.
- Strong financial acumen, strategic thinking capacity, effective communication skills, and a proven track record of building and maintaining effective partnerships with all internal and external constituents. He/she must be a leader who demonstrates the capacity to understand, appreciate, and advance local market values and culture.
- Demonstrated ability to develop P&L and partner with leadership, bringing a deep understanding of healthcare delivery and care delivery operations.
- Demonstrated political savvy to operate in politically complex situations and remain effective.
- Demonstrates open, collaborative, and transparent leadership style that promotes teamwork and partnership while achieving desired results.
- Exhibits ability to understand and assess complex market conditions and recommend necessary cost structure improvements or revenue growth opportunities. Demonstrated track record of leveraging information technology strategies for financial transaction and decision support systems.
- Must share the values of Kaiser Permanente and its Market 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 government programs in the health care field, which will affect the financial operations of the business.
- Dedication to maintaining and building an inclusive culture and values aligned with principles of diversity.
Preferred Qualifications:- Combination of health plan and health care delivery system finance experience preferred. Five (5) plus years of executive management experience involving diverse financial functions within a consumer facing organization is preferred.
- Decisiveness, action-orientation, personal integrity, capability to persevere in difficult situations, and a focus on strategic leadership issues highly desired.
- A Masters degree, CPA or equivalent work experience is preferred.
Primary Location: Nevada,Reno,Reno Professional Circle Administration
Scheduled Weekly Hours: 40
Shift: Day
Workdays: M-F
Working Hours Start: 08:00 AM
Working Hours End: 05:00 PM
Job Schedule: Full-time
Job Type: Standard
Employee Status: Regular
Worker Location: Flexible
Employee Group/Union Affiliation: NUE Executives|NUE|Non Union Employee
Job Level: Executive/VP
Department: Po/Ho Corp - Rgnl Clrng-KP Nevada HP - 0308
Pay Range: $234000 - $292500 / year Kaiser Permanente strives to offer a market competitive total rewards package and is committed to pay equity and transparency. The posted pay range is based on possible base salaries for the role and does not reflect the full value of our total rewards package. Actual base pay determined at offer will be based on labor market data, internal alignment, and a candidate's years of relevant work experience, education, certifications, skills, and geographic location.
Travel: Yes, 10 % of the Time
