7 Finance VP - Hospital Jobs in Boston, MA
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Finance VP - Hospital
$259k-383k (estimate)
Full Time | Business Services
2 Months Ago
KP Recruiting Group is Hiring a Finance VP - Hospital Near Boston, MA
KP Recruiting Group is a consulting firm that providesleadership and exceptional talent to some of the world’s leading companies.Headquartered in the Midwest, KP Recruiting Group has successfully completedcountless engagements in the United States, Europe and Latin America. Werepresent clients in all industries and all sizes. Our mission is to provideexceptional client and candidate experiences in order to get the best possibleresults. On behalf of our client, we are excited to present the following confidentialrole. We look forward to hearing from you and discussing the opportunity!
The Role:
The VP of Finance acts as a strategic business partner to the President and other members of the executive leadership team, providing insight and recommendations to both short and long-term initiatives and growth plans. S/he continuously assesses and evaluates the financial performance of the organization with regards to long-term operational goals, budgets and forecasts, and creates and establishes annual financial objectives that align with the health system’s plan for growth and expansion. The VP of Finance will focus her/his attention mainly at BMC but must understand how to work across the health system to foster continuous operational improvement, integration and systems.
The VP of Finance will serve as an operationally minded, collaborative business partner with the leadership team, system leadership teams, as well as with all colleagues (physicians and staff). S/he will proactively create an environment for successful organizational performance and accepts responsibility for the financial viability. The VP of Finance will build strong positive working relationships both inside and outside in order for the health system to meet its strategic goals.
Stylistically, this individual must be a passionate and focused executive who understands daily operations and has the vision and enthusiasm for patient care and the organization and communicates and represents that with all constituents, both inside and outside of the hospital.
POSITION SUMMARY
Reporting to the System Chief Financial Officer, the VP of Finance is responsible for financial planning and decision support management strategy. This includes:
Defining and tracking key performance indicators, and building analytical frameworks for making financial and operating decisions that will support and enable financial stability.
Leading financial planning, strategic planning, and business analytics to ensure departmental integration with key Medical Center and System operations, such as Ambulatory Operations, Supply Chain, and Human Resources.
Establishing improved processes in the service delivery of financial services to the organization.
Developing and implementing decision support tools and finance reporting that assists cross-functional business leaders in making sound financial decisions and future plans.
Working collaboratively with key internal and external stakeholders in the Finance Leadership team, including the Medical Group Chief Financial Officer, Health Plan Chief Financial Officer, and System Treasurer to coordinate delivery of system goals.
The VP of Finance also plays a coordinating role for the System for the following functions:
Financial Planning
Decision Support
Annual Operating Budgets
Multi-year financial projections and plans
Key Responsibilities
The VP of Finance, BMC will:
Support the SVP/CFO in multiple capacities as responds to a myriad of challenges prompted by external change. This includes proactively organizing personnel and systems to support the rapid changes in healthcare finance being organized around population health management, including ACOs and clinical integration.
Advise the SVP/CFO and hospital executives on financial matters emerging in areas of responsibility, such as long-range planning, budgeting, business operations, etc.
Provide oversight for the following centralized functions: Budgeting, and Decision Support.
Ensure decision support systems adequately frame Financial Planning to identify areas of opportunity or threat and to support the operations and planning functions.
In collaboration with the Corporate Treasurer, improve capital planning processes.
Actively support activities to improve the cost effectiveness.
Review, interpret, and analyze financial and statistical data for the SVP/CFO and perform financial analysis as requested.
Participate in discussions and financial planning with management on proposed programs and projects. This may include the analysis of equipment purchases, lease arrangements, construction of facilities, and pro forma program operations.
Develop systems, reports and processes to ensure accurate and timely revenue reporting and management. Ensures timely escalation and issues resolution. Works closely with compliance on any revenue matters that in violation of contracts or regulations.
Collaborate with the VP of Revenue Cycle to determine how the individual rate increases should be distributed across the various departments to maximize the bottom line impact while complying with regulation and law.
Direct the preparation of net revenue for budgeting and monthly financial statement reporting. Calculates contractuals for financial statement audit. Valuation of the outstanding Accounts Receivable monthly, working closely with the Revenue Cycle Operations group.
Establish a reputation as a knowledgeable and respected leader of the finance team, someone to whom they can turn for information and professional development. Evaluate the current staff and identify areas for their professional and leadership growth. This person will be expected to act as a mentor to his/her direct reports and take an active role in their development.
Demonstrate to other members of the leadership team that he/she is a genuine team player who can effectively share power and is not plagued by the turf orientation often found in healthcare management. Establish a reputation with all stakeholders as an open and respectful communicator who is accessible and one who is highly committed to service and performance excellence.
Collaborate with the entire Finance team and executive leadership to assess and implement financial planning and decision support processes and systems that will deliver valuable business insights in a timely manner to all stakeholders
Develop cross-functional processes that improve the efficiency and timeliness of financial reporting to support financial stability
Streamline and lead budget and forecasting process, including building tools to improve forecasting process and conducting detailed variance analysis
Build cross-functional relationships and expertise to ensure thoughtful, accurate, and timely data is gathered across all elements of the business
Responsible for all budget related presentations for the board; effectively communicate and present critical financial matters at select board of directors and committee meetings
Maintain continuous lines of communication, keeping the CFO informed of all critical issues
Promote a culture of high performance and continuous improvement while managing and organizing team members work
Mentor and develop staff using a supportive and collaborative approach: assign accountabilities; set objectives; establish priorities; and monitor and evaluate results
Upgrade and implement an appropriate system of policies, internal controls, decision support processes, and procedures
Plan, coordinate, and execute the annual budget process
Requirements
7 years of finance, operations, and/or business information systems experience, Hospital experience required
Strong technical knowledge and skills in a range of finance disciplines and a deep understanding of financial operations and systems, as well as experience developing and executing long-term financial strategy.
Proven track record of success facilitating progressive organizational change and development
Ability to design and implement new strategies and processes
Superb analytical, strategic, and critical thinking skills
Strong prioritization and problem-solving skills
Excellent communication and presentation skills, with the ability to partner effectively with the executive team and cross-functional leaders throughout the company and communicate thoughtfully to diverse stakeholders, including the board and external parties
Ability to remain flexible in a fast paced environment
Demonstrated commitment, self-motivation, and drive
Strong mentoring, coaching experience to a team with diverse level of expertise
Ability to operate as an effective tactical as well as strategic thinker
EDUCATION
Business or Finance degree mandatory, a master’s in business administration is preferred
Benefits
Ourclient offers a comprehensive benefits package including:
401kMatching
Family andIndividual Insurance Packages (Health, Life, Dental, and Vision)
Paid TimeOff & Paid Holidays
Long &Short-Term Disability
IdentityTheft Plans
Retirement& Pension Plans
EmployeeAssistance Program
EmployeeReferral Program
TuitionReimbursement Programs
Advancement& Professional Growth opportunities
ParentalLeave
& More
Job Summary
JOB TYPE
Full Time
INDUSTRY
Business Services
SALARY
$259k-383k (estimate)
POST DATE
03/10/2024
EXPIRATION DATE
05/08/2024
WEBSITE
kprecruiting.com
HEADQUARTERS
Minneapolis, MN
SIZE
<25
INDUSTRY
Business Services
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