CFO

Job Details

Description

Location/Department: Main Campus - Administration

Job Summary:

The Chief Financial Officer/Vice President, Financial Services (CFO/VP), serves as a key member of the Senior Leadership Team, which is responsible for overall leadership of the organization.  The CFO/VP has overall responsibility for all aspects of accounting & financial management of the organization. The CFO/VP is specifically responsible for strategical & operational leadership of the Finance team, including responsibility for ensuring a successful relationship and strong overall outcomes for the outsourced delivery of Revenue Cycle services and all other duties as assigned in support of the organization.  

Supervisory Responsibilities: Controller/Director of Finance, Manager-Materials Management, primary liaison and owner of MMH’s outsourced revenue cycle services division. 

Duties/Responsibilities:

FINANCIAL LEADERSHIP & OVERSIGHT

• Responsible for organizing, directing & controlling the financial affairs of the organization. As such, the CFO/VP will provide timely, accurate reports to management & the Board of Directors; ensure that adequate accounting systems exist; establish & maintain appropriate policies & procedures; coordinate compliance with all regulatory requirements related to finance, help direct and ensure robust financial analysis around all key organizational business decisions.
• Manage receipt of revenues, expenditure of funds & conservation of assets.
• Analyze operating data & financial reports to monitor performance, identifying trends & determining needs for new control systems.
• Develop an annual operating & capital budget process.
• Oversee long‑term capital planning, facilities financial modeling and major capital project evaluation, ensuring alignment with strategic growth initiatives.
• Responsible for the treasury function, including cash management, securing operating & capital funds, & investment of surplus funds.
• Determine that the assets of the hospital are properly & adequately insured.
• Manage all aspects of the outsourced delivery of revenue cycle services‑ including review & evaluation of accounts receivable reporting for determination of adequate reserves & allowance policies & procedures.
• Provide financial leadership for payer strategy, including risk‑based contracts, bundled payments, shared‑savings programs and evaluation of new reimbursement models.
• Negotiates all third‑party payer agreements for the organization.
• Responsible for all Real & Personal property tax filings, including the necessary filings to claim any new properties as exempt.
• Responsible for all Community Benefit calculations and reporting, including INDOH reporting requirements of annual fiscal reports.
• Provides the reporting to administer the TCH Cardiac Joint Venture.

STRATEGIC LEADERSHIP & ORGANIZATIONAL SUPPORT

• Assist the President/CEO in implementing Margaret Mary Health’s strategic objectives.
• Continuously explore opportunities to enhance the hospital’s financial position & strengthen appropriate organizational growth & development.
• Help to set the tone for financial discipline & the importance of financial balance to achieve the mission & vision.
• Serve as the financial leader for partnerships, affiliations and physician alignment strategies, including due diligence and pro‑forma development.
• Build succession plans, oversee talent development for the finance team, and ensure financial literacy training for organizational leaders.

REPORTING & COMPLIANCE

• Prepare, analyze, & present monthly financial & statistical reports to the Board of Directors &/or Finance Committee, and any other group as requested.
• Coordinate the annual financial audit, cost report & tax filings.
• Review & evaluate all third‑party audit reports & resolve any concerns or problems that have arisen.
• Responsible for ensuring the assigned departments’ compliance with all accreditation requirements, The Joint Commission, Indiana Department of Health, & local, state & federal licensing & operating requirements

RISK MANAGEMENT & INSURANCE

• Provide leadership for organizational risk management, including identification of financial and operational risks, mitigation strategies, and alignment with Board‑level risk priorities.
• Manages the insurance portfolio for the organization, including all lines of coverage and captive products.

TECHNOLOGY & SYSTEMS LEADERSHIP

• In collaboration with IT leadership, lead financial systems modernization, including EHR‑financial integrations, automation, data governance and analytics capabilities to support operational and clinical decision making.
• Ensure appropriate financial controls and cybersecurity safeguards.

OPERATIONAL OVERSIGHT

• Oversee the assigned directors & department managers’ development & maintenance of an ongoing, systematic performance improvement process ensuring standards & monitoring mechanisms are in place to identify deficiencies or areas for improvement.
• Manages the relationship with any third‑party bio‑medical service provider, ie Trimedx, Renovo, etc.
• Manages the BTD employee clinic relationship.

GOVERNANCE, CULTURE & COMMUNICATION

• The CFO/VP is expected to serve on committees, as deemed appropriate to the position, & participate in community service events.
• Ensure that communication is effective & timely.
• Foster critical thinking & effective change management.
• Hold self & others accountable for exhibiting professional behavior & demonstrating organizational values.
• Promote positive relationships with patients, visitors, providers & fellow team members.
• Must embrace & support the “Margaret Mary Way” culture.

Required Skills/Abilities:

• Excellent written, oral & interpersonal skills necessary for effective communication.
• Knowledge of performance improvement. Must be a proven team player.
• Must be self-motivated & have a proven track record of developing & motivating team members.
• Ability to operate standard office machines to include telephone, computer, & calculator. Has knowledge of clinical equipment & supplies.