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Milwaukee Regional Medical Center, Inc. (MRMC)
Location: Wauwatosa, WI
Status: Full-time, exempt
Position Overview
The Vice President of Finance provides leadership to and is accountable for the financial planning and management of the entire MRMC organization to include: MRMC Thermal, MRMC Water, MRMC Infrastructure, and Flight For Life, as well as MRMC administrative budget and finances. This position coordinates the setting of strategic direction and financial policy through the MRMC Finance & Operations Committee, interacting with the MRMC Board and participating on MRMC and Flight For Life Operations Committee and management teams under the direction of the Executive Director of MRMC, Inc.
The position is responsible for MRMC’s financial management including annual audit, budgets, fiscal policies and financial systems, and oversees all financial operations including cash flow, contract management, and reviews/ approves financial statements. The Vice President of Finance coordinates private and public financing programs for MRMC projects and maintains banking relations.
The Vice President of Finance, and/or his or her designee, assists the Executive Director and other MRMC executives with all contractual relationships relating to all areas of MRMC responsibility to include evaluating vendor effectiveness and coordinating the renewal process for third party providers.
The Vice President of Finance, and/or his or her designee, also coordinates the annual review of business, property, and employee insurance programs for MRMC, maintaining relationships with external vendors, to ensure that coverage is sufficient and competitively priced.
The position is responsible for supervising finance, accounting, information technology, and human resources staff.
Duties and Responsibilities
The following list of duties and responsibilities is not all inclusive and may be expanded to include other duties and responsibilities as management may deem necessary from time to time:
Prepares budget and submits to the Executive Director of MRMC;
Prepares requests for proposals for services; coordinates selection and administers contracts for these services;
Supervises, plans, and evaluates the work of subordinates; interviews prospective candidates for employment; develops procedures and policies;
Prepares and presents reports and proposals for consideration on appropriate matters;
Attends meetings as required; speaks with member organizations on matters of finance and MRMC Thermal, Water, and Infrastructure;
Coordinates and develops annual MRMC, Flight For Life, Thermal, Water, and Infrastructure budgets and other financial statements for presentation to the Finance & Operations Committee and respective boards for annual budget approval;
Works closely with the chair of the MRMC Finance & Operations Committee coordinating the committee’s agendas and activities;
Interacts with the Board of Directors at all scheduled meetings as appropriate;
Prepares monthly, quarterly, and annual financial statements for presentation to the Executive Director, the MRMC Finance & Operations Committee, the MRMC Board of Directors, and the Board of Directors for MRMC Thermal, MRMC Water, and MRMC Infrastructure;
Develops and maintains banking relationships and coordinates all financing programs with financial institutions. Interacts with financial consultants to handle MRMC cash flow needs;
Monitors the cash flow requirements of all MRMC entities and maximizes return on investment as cash liquidity needs of the MRMC permit;
Provides leadership for all short-term and long-term borrowing for all MRMC entities;
Assists the Executive Director with developing and processing RFPs for special projects related to MRMC’s service role on campus;
Works in direct relationship with the Director of Human Resources to review and develop group health, dental and vision insurance programs for MRMC. Negotiates and implements insurance plans for property liability and other general insurance with selection of appropriate consultants, advisors, and agents;
Coordinates year-end audit including choice of auditing firm, tax professionals, review and approval of pre-audit and presentation of final audit to the Finance & Operations Committee and respective boards;
Responsible for the recruitment and management/supervision of the finance, accounting, and information systems staff. Periodically reviews adequacy of staffing levels compared to projected work load(s). Responsible for making recommendations related to additional staffing requirements; and
Develops and implements policies involving financial activities, purchasing and inventory control, administrative policies and procedures, and various research and development projects;
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
Bachelor’s degree in business, finance or a related field at minimum; advanced degree in a related field will receive preferred consideration;
20+ years of experience in a position or positions with similar or greater responsibilities;
Proven record of strong project, personnel, and business management experience at the corporate/strategic level;
Proven record of problem solving and analytical skills at the corporate/strategic level;
History of health care and/or academic health care finance is preferred; and
Ability to maintain a high level of collaboration with C-suite officers of member institutions
Budget Responsibility
Combined budget responsibility in excess of $50,000,000.
Information about the Milwaukee Regional Medical Center Campus and MRMC, Inc.
The Milwaukee Regional Medical Center campus is a local, regional, and increasingly a national destination for quality adult and pediatric care, lifesaving research, and world-class education for tomorrow’s doctors and scientists. MRMC, Inc. is a consortium of health care institutions whose 17,500 faculty, staff, and patient caregivers provide a full range of health care services (1,500,000 patient visits annually). Through its member organizations, MRMC offers Wisconsin Level I Adult and Pediatric Trauma Centers, a nationally recognized Children’s Hospital, a nationally ranked academic medical center, and new discoveries and cures to patients throughout the world.
MRMC, Inc. is a non-profit management entity responsible for the operational and shared service components of the campus such as transportation strategy, utilities, branding and signage, and the Flight For Life air medical service. The day-to-day operations of the organization are managed by an executive director, while MRMC’s membership includes Froedtert Hospital, Children’s Wisconsin, Medical College of Wisconsin, and Versiti Blood Research Institute. Together, the leaders of these institutions constitute the Board of Directors and are charged with setting the strategic direction and priorities for MRMC.
MRMC’s goal is to add value to its member organizations through increased collaboration, by sharing information and experiences, and by exploring opportunities to streamline financial and service delivery structures. The member entities share a common mission of excellence in patient care, medical education, life science research, and community service.
Member Organizations
Children’s Wisconsin
CW is the region’s only independent health care system dedicated solely to the health and wellbeing of children. In Milwaukee and throughout the state, CW provides children and their families a wide range of care and support— everything from routine care for ear aches or sore throats to life saving advances and treatment options. CW’s academic partner, the Medical College of Wisconsin, brings many of the nation’s most well-respected doctors to ensure that every child and family they serve receives nothing but the best care.
Froedtert Hospital
Froedtert’s vision is to be the region’s premier health system by demonstrating superior value through an academic-community partnership and aligning health care delivery across the region. Its mission is to advance the health of communities through exceptional care enhanced by innovation and discovery.
Medical College of Wisconsin
MCW’s mission is to be a national leader in the education and development of the next generation of physicians and scientists; to discover and translate new knowledge in the biomedical sciences; to provide cutting-edge, interdisciplinary and compassionate clinical care of the highest quality; and to improve the health of the communities it serves.
Versiti Blood Research Institute
From patient care to physician education, the Versiti Blood Research Institute provides a vast array of hematological and transfusion-related medical services for local hospitals with a dedication to patient care, clinical research, and education of physicians.
EOE
