Chief Financial Officer

JOB SUMMARY:

The Chief Financial officer assumes line responsibility and authority for the administrative direction, evaluation, and coordination of the functions and activities of assigned departments within the hospital to ensure operation objectives and results are in accord with overall hospital needs. The CFO functions at an executive level in an active leadership role with the hospital’s senior leadership team, medical staff leadership, and management team. Is directly responsible for managers overseeing departments and other service lines as assigned by the CEO. Is directly responsible for department leaders in establishing a measure of performance, increase productivity, quality improvement, cost controls and efficient utilization of facilities.

ESSENTIAL FUNCTIONS, DUTIES AND RESPONSIBILITIES:

1. Responsible for supporting the CEO in the development and implementation of LHC’s strategic priorities and policies and to provide leadership and direction within her/his area of accountability to the LHC Staff.
2. Responsible for developing the skills and cohesiveness of their team and making strategic and operational decisions.
3. Overall day-to-day management and operation of LHC, protection of its financial assets, while ensuring compliance with organizational directives as well as applicable grantors, federal, state, and local regulations and global and national requirements.
4. Represents the CEO in the coordination of entire portions of the hospital organization, speaking and acting within the scope of objectives set forth in the practice and/or policy of the hospital in the absence of the CEO and/or as assigned.
5. Manages financial service functions including support of the organization’s strategic financial plan and annual budgeting process, accounting for variances, and developing/implementing appropriate fiscal planning.
6. Oversees the revenue cycle process and maintains ongoing assessment of revenue cycle benchmarks for process improvement purposes.
7. Oversees assigned departments/areas and serves on the Livingston HealthCare Senior Leadership team as a strategic partner.
8. Manages, coaches, develops, and evaluates performance of direct reports to ensure job performance, quality of service, and technical expertise of staff.
9. Guides financial decisions by establishing, monitoring, and enforcing policies and procedures.
10. Develops financial strategies by forecasting capital, facilities, and staff requirements, identifying monetary resources, and developing action plans.
11. Engages Boards and other leadership in the development of financial goals and targets and provides regular updates with recommendations on keeping financial performance on track.
12. Oversees the development of the budget, ensuring an inclusive process where leadership and managers are involved in setting the operational targets that lead to the financial targets.
13. Prepares and administers the department’s annual operating and capital budget within financial expectations, accounts for variance.
14. Recruits, develops, retains, and leads an appropriate number of personnel to meet department needs and the goals and objectives of Livingston HealthCare.
15. Develops and maintains organizational policies and procedures to ensure adherence to professional and legal standards, quality of service, fiscal control, and customer relations.
16. Adheres to administrative policies and procedures relating to human resource management.

Drives Operations By:

1. Directing effective operations to drive to organization in the pillars of patient care, Quality, people, finance, and the community.
2. Ensuring the consistent and effective execution of key systems and processes that make effective use of organizational resources,
3. Leading a team or unit to enhance product or service quality; driving the business toward enhance product or service quality.
4. Creating a work environment in which employees are committed to their organization and the community to collaboratively execute business strategies.
5. Building strategic alliances and partnerships within the organization and the community to collaboratively execute business strategies.
6. Creating an environment in which products and processes are designed to ensure patient satisfaction; effectively incorporating patient perspectives in all business activities.
7. Contributing to the development of the organization’s strategic goals and objectives as well as the overall management of the organization.

Knowledge, Skills, Abilities, and Behaviors:

1. Demonstrated experience in organizational management with an effective track record in coaching, developing, and managing effective teams.
2. Effectively use of data to drive business decisions and operations.
3. Experience developing and managing budgets to achieve financial goals.
4. Strong listening skills, critical thinking skills and the ability to get to the heart of a matter.
5. Strong written and verbal communication skills.
6. Experience presenting to BODs, committees and the community.
7. Effective project management skills.
8. Situational critical thinking to present ideas and resolve issues.
9. Ability to make clear and concise decisions weighing all factors.
10. Current knowledge of CMS and or the Joint Commission, State, and Federal guidelines, regulations and standards.
11. Demonstrated expertise in negotiation, coaching and interpersonal skills.
12. Skill in communicating information in an open and sincere manner that promotes credibility (e.g. honest answers to tough questions).
13. Skill in recognizing strategic business opportunities resulting from changes in the economic, technological, political/legal, or social environments.
14. Demonstrates ability to coach and develop employees.

QUALIFICATIONS (Required):

1. Bachelor’s degree in accounting, finance, or related field.
2. At least 5 years of senior financial management experience.
3. Meets the requirements of the Executive Competencies.

ADDITIONAL DESIRABLE QUALIFICATIONS:

1. Master’s degree in Healthcare Administration or MBA preferred.
2. Previous experience in a Critical Access Hospital setting.
3. Previous experience with a Rural Health and/or Provider-Based Clinic.