FOCUS Employment Solutions, LLC Looking for Vice President of Finance at Boston, MA Full Time

Level: Executive

Reports To: CFO

Travel Required: Travel Not Required

VISA Support: No VISA Sponsorships Supported

Will this hire need to report to a specific location? Yes, you must report in person to a particular place.

Signing Bonus: Negotiable

Relocation Package: Partial

Must-Haves:

• Business or Finance degree mandatory
• 7+ years of finance, operations, and/or business information systems experience, Hospital experience required
• Must have experience with mentoring, coaching experience to a team with diverse levels of expertise

In close collaboration with system finance leaders, the President/CEO, and senior executives, the Vice President of Finance helps lead the strategic direction and ensures the organization is fiscally sound and responsible.

The Vice President of Finance acts as a strategic business partner to the President and other executive leadership team members, providing insight and recommendations to both short and long-term initiatives and growth plans.

You will continuously assess and evaluate the organization’s financial performance concerning long-term operational goals, budgets, and forecasts. In addition, you will create and establish annual financial objectives that align with the health system’s plan for growth and expansion. The Vice President of Finance will focus their attention mainly on the Company but must understand how to work across the health system to foster continuous operational improvement, integration, and systemness.

The Vice President of Finance will serve as an operationally minded, collaborative business partner with the Company’s leadership team, system leadership teams, and all colleagues (physicians and staff). You will proactively create an environment for successful organizational performance and accept responsibility for the Company’s financial viability. In addition, the Vice President of Finance will build strong positive working relationships both inside and outside of Company for the health system to meet its strategic goals.

Stylistically, this individual must be a passionate and focused executive who understands daily operations, has the vision and enthusiasm for patient care and the organization, and communicates and represents that with all constituents, both inside and outside the Hospital.

Position Summary:

• Reporting to the System Chief Financial Officer, the Vice President of Finance is responsible for the Company’s 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 Company’s 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 financial reporting that assist 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 Company’s Chief Financial Officer and System Treasurer, to coordinate the delivery of system goals.

The Vice President of Finance plays a coordinating role for the System for the following functions:

• Financial Planning
• Decision Support
• Annual Operating Budgets
• Multi-year financial projections and plans

You will have two direct reports, including the Director of Financial Planning Analysis and the Director of Decision Support. The Company currently utilizes Infor for the general ledger, accounts payable, materials management, and Workday for payroll. In addition, the Company works with KPMG for overall audit, and they outsource the internal audit to Deloitte.

Key Responsibilities:
The Vice President of Finance will:

• Support the SVP/CFO in multiple capacities as the Company 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 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 violate 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 contractual 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 finance team leader, 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 their direct reports and take an active role in their development.
• Demonstrate to other leadership team members that they are genuine team players who can effectively share power and are 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 promptly 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 the 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 communicated and presented critical financial matters at the 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
• Ensure the Company is adhering to the strategic plan
• Provide analytical support to the Company’s leadership team, including the development of internal management reporting capabilities

Critical Success Factors

• During your tenure as Vice President of Finance will be expected to achieve short term and long-term goals, including the following:

Shorter-Term:

• Quickly gain credibility and trust subordinates, peers, senior leadership, staff, and clinicians.
• Establish improved processes in the service delivery of financial services to the organization.
• Establish a service-oriented culture through collaborative problem solving to enhance Finance’s role as a strategic partner to other departments across the Hospital.
• Assess the department’s structure and develop a critical path required to achieve strategic goals, including an operating model with other departments and developing competencies within the team.

Longer-Term:

• Continue to establish a high degree of visibility and communication with all constituents.
• Work with the Chief Financial Officer to learn the nuances of the organization and its entities.
• Identify ongoing opportunities for operating efficiencies to streamline the Finance department.
• Produce fully consolidated financial statements that can be distributed every month.

Experience Qualifications:

• 7+ years of finance, operations, and/or business information systems experience, Hospital experience required
• Strong technical knowledge and skills in various finance disciplines and a deep understanding of financial operations and systems, and experience developing and executing long-term financial strategies.
• 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 levels of expertise
• Ability to operate as an effective tactical as well as a strategic thinker

Education:

• Business or Finance degree is mandatory, a master’s in business administration is preferred

Compensation:

• Compensation arrangements are competitive and commensurate with both experience and achievement.