Description

The Chief Financial Officer (CFO) is responsible for directing and overseeing all aspects of the financial operations for the agency. Reporting directly to the Chief Executive Officer (CEO), the CFO provides accounting, budgetary, operational, and programmatic support to all agency programs and activities. Responsibilities include establishment and maintenance of proper accounting and financial systems and controls; oversight of internal and external regulatory and financial reporting; assisting with the development of budgets; directing capital investment activities; supervision of finance office personnel, and developing projections on individual project budgets, grant budgets, and capital improvement budgets. The CFO serves as an active member of the Leadership Team helping to develop and implement the agency’s vision and mission. 

Responsibilities/Essential Functions:

Assists in the preparation of the annual operating budget and participates in the annual strategic planning process which serves as a basis for the budget. Provides ongoing analysis of variances from budget and assists the CEO in implementing changes needed to achieve budget goals.

Responsible for development, implementation, and changes to long-term financial strategic plans, including the meshing of these plans with operational plans.

Provide timely and accurate analysis of budgets, financial reports, financial trends and effectively develop solutions to business challenges to assist the CEO and the board and others on the Leadership Team in leading the organization and fulfilling the mission.

Ensures that the agencies system of internal controls is adequate to produce accurate financial information and safeguards the assets of the company.

Directs the preparation of all financial statements, including income statements, balance sheets, Board reports and governmental agency reports. Ensures that the reported results comply with generally accepted accounting principles and regulatory requirements. 

Oversees the monthly variance analysis of actual operating capital and project spending vs. plan, forecast and prior year, including responsibility for driving cost control. 

Protects the company by ensuring compliance with financial and tax regulations and strengthening, monitoring, and enforcing a strong internal controls environment and appropriate financial reporting processes. 

Create and establish yearly financial objectives that align with the agencies plan for growth and expansion.

Assist with the preparation of budgets for funding and grant applications. Submit monthly, quarterly, and annual deliverable reports as required. 

Develop a reliable cash flow projection process and reporting mechanism that includes a minimum cash threshold to meet operating needs. Provide strategic financial input and leadership on decision making issues affecting the organization.

Responsible for the cash management of the agency to include bank negotiations, forecasts, and investments. Maintain all banking relationships and initiate strategies to strengthen cash position.

Oversee employee benefit plans, workers compensation policies and liability insurances, with emphasis on maximizing cost-effective plans and programs.

Participates with managed care contracting and other business development activities to ensure net revenue maximization.

Directs the operations of the Revenue Cycle to ensure that accounts receivable is collected timely. Strives to achieve goals for cash collections and AR days and to reduce bad debt and denials. Routinely reviews revenue cycle metrics to proactively identify and address issues affecting overall performance.

Maintains a thorough working knowledge of federal, state, and managed care reimbursement methodologies to ensure that the agency is paid accurately, and revenue deductions are recorded accurately.

Monitor compliance with various grant record keeping and billing requirements. Ensure grants are tracked and matched with corresponding expenses within the accounting system.

Ensures all accounting and business office policies and required internal controls are in place to facilitate a clean audit with no material audit adjustments or deficiencies found. Oversee the audit process and manage the relationship with external auditors and tax advisors.

Responsible for legal and regulatory compliance regarding all financial functions.

Remain up to date on nonprofit audit best practices and state and federal law regarding nonprofit operations.

Supervise, coach and mentor finance office personnel. Complete performance evaluations, provide training when performance standards are not met.

Update financial policies and procedures as needed to assure compliance with CARF standards as well as all local, state, and federal laws and regulations.

Provide strategic vision, planning and oversite of the agencies financial outlook. Develop plans to address areas of opportunity within the agency’s financial health and financial processes.

Adheres to client’s rights under the Mental Health Code, Confidentiality Act, HIPAA and Rule 50 of the Office of Inspector General. Abides by Stepping Stones code of Ethics and Professional Practice.

Requirements

Qualification Requirements:

The Chief Financial Officer must be able to perform multiple responsibilities within strict deadlines. The ability to organize and prioritize is critical. Individual must be self-motivated and independent. Strong problem-solving skills and creative thinking are beneficial. Being flexible and willing to compromise are also essential. Strong oral, written and interpersonal skills are required. Knowledge of accounting principles and accounting software necessary, non-profit experience desired. 

Physical Requirements:

While performing the duties of this job the employee is continuously required to sit and type on a keyboard. They will be frequently required to carry 10lbs, use a phone, file, and use a calculator. Occasionally required to staple, write, and walk up and down steps. This job is rated as sedentary in its overall level of physical activity. Employees will be required to comply with the Federal and State COVID-19 Vaccination Mandates for healthcare agencies. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Conditions:

The Business Office is generally quiet with occasional interruptions. The works an 8am to 5pm day and a 40-hour workweek. Although the Chief Financial Officer does not work directly with clients, there is contact due to proximity and there is risk involved with client contact.