Position Summary

The Chief Financial Officer is responsible for planning, developing and executing financial operations, safeguarding the assets of Sarah Reed Senior Living through adequate accounting control systems, policies and programs, preparing budgets, financial statements, and reviewing tax returns, supervising all accounting functions, billing, fixed assets, cash management, information technology systems, and payroll, and overseeing accounting staff.

Qualifications

• Accounting degree, MBA, or CPA preferred

• Minimum 3-5 years experience that is directly related to the duties and responsibilities specified

Knowledge, Skills, & Abilities

• Knowledge of federal and state financial regulations and facility financial policies and procedures

• Knowledge of computerized information systems used in financial and/or accounting applications

• Ability to communicate effectively, both orally and in writing, with personnel, residents, and external customers

• Skill in examining and re-engineering operations and procedures, formulating policy, and developing and implementing new strategies and procedures

• Ability to analyze and interpret financial data and prepare financial reports, statement and/or projections

• Ability to supervise and train employees, to include organizing, prioritizing, and scheduling work assignments

• Possesses mature judgment and able to foster a cooperative work environment

• Ability to accept change and be supportive of administration when change is necessary for the interest of Sarah Reed and resident care

• Knows and adheres to all departmental policies, emergency and evacuation procedures, and industry regulations; i.e., HIPAA, Corporate Compliance

• Treats residents, employees, and coworkers as customers, providing quality service and assistance

Essential Duties & Responsibilities

• Monitors Accounting staff to ensure efficient and professional operation of department. This includes talking with staff and following up on any concerns of employee issues brought to his/her attention, and disciplines staff appropriately and retrains and mentors to correct any inappropriate behaviors or procedures. Promptly follows up with all new hires (and paperwork) and accurately assesses performance evaluations.

• Establishes and maintains financial records systems in accordance with generally accepted accounting standards and auditing principles

• Oversees the approval and processing of revenue, expenditure and position control documents, department budgets, and the maintenance of accounts and ledgers, ensuring compliance with appropriate government regulations and policies, and ensuring maintenance of appropriate internal control safeguards

• Prepares monthly financial statements, annual financial reports, and other information reports and requests, ensuring reporting accuracy and integrity

• Prepares and coordinates Medicare and Medicaid cost reports, Continuing Care (CCRC) State Reporting, and any other annual required reporting prior to their due dates

• Monitors closely accounts receivable balances and follows up on delinquent accounts per company established policy and procedure

Initiates the annual audit and provides various schedules and information for the annual audit of financial statements and filing of IRS 990 tax return. Coordinates annual renewal of insurances (liability, property, workers’ comp) and ongoing insurance matters

• Initiates the annual audit and provides various schedules and information for the annual audit of the 401(k) plan and filing of IRS 5500 tax return

• Provides ongoing support for defined benefit plan, dental, health, and welfare plans, and approves filing of IRS 5500 tax returns

• Presents pertinent financial matters to the Finance Committee at its regularly scheduled meetings ensuring the Committee is well informed of monthly operating costs, trends, or problems and makes recommendations for corrective actions as necessary

• Reconciles the Endowment, Special Purpose, and Retirement Fund accounts and provides a printed report to the Finance Committee on a monthly basis

• Prepares and submits to the Finance Committee a projected operating budget and capital budget two months prior to the close of the fiscal year

• Prepares and monitors monthly debt payments and reports to bank on a quarterly and annual basis

• Provides support to Department Heads in planning initiatives, through management and financial information analysis, reports, and recommendations

Non-Essential Duties & Responsibilities

• Backup for biweekly payroll processing and weekly accounts payable processing

• Develops, implements, and coordinates the application of finance, accounting, billing, and audit procedures

• Maintains cost accounting reports regarding operating costs of each program service. Maintains detailed schedules for all applicable balance sheet accounts.

• Maintains updated listing of all investments and other pertinent accounting reports

• Updates life lease (entrance fee) amortization schedule

• Establishes and implements short term objectives and long term goals, strategic plans, and operating procedures; monitors and evaluates program and operational effectiveness, and effects changes required for improvement

• Attends Administrative Staff and in-Service Meetings and Chief Executive Officer approved relevant seminars/workshops

• Other related duties and responsibilities that may become necessary as directed by the Chief Executive Officer or Finance Committee

Sarah Reed Senior Living

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Chief Financial Officer