The Role

Location: Philadelphia, Pennsylvania

Reports to: Chief Executive Officer

Position Summary

The Chief Financial Officer (CFO) is responsible for leading, planning, organizing, and overseeing all financial operations of the organization in accordance with policies established by management and the Board of Directors. The CFO position encompasses all aspects of internal fiscal management, planning, and budgeting. This position is responsible for all federal reporting, grants management and generation of federal budgeting and the entirety of the revenue cycle management process. The CFO shall actively provide an oversight of all financial audits by third parties, regulatory agencies and annual audit. The CFO works closely with the CEO to support the organization's financial goals and sustainability.

Key Responsibilities

General Management:

The CFO, shall work to ensure the continuity of fiscal operations and shall assist in the development of finance and accounting policies and procedures to be acted upon by the Board of Directors.
Support the CEO in strategic planning and decision-making.
Evaluate financial implications of new projects, services, and expansions.
Collaborate with clinical and operational leaders to enhance service line profitability Direction and management of Spectrum’s Revenue Cycle Management (RCM) department including oversight of SHS’ Athena Net co-sourced billing model.
Management of Spectrum’s Finance Director and all fiscal oversight of financial statements. Training, supervision, and performance evaluation of the subordinate personnel in accordance with SHS’s policies.
Ensure compliance with healthcare regulations and financial standards.
Identify and mitigate financial risks.

Financial Management/ Federal Grants Management and Revenue Cycle Management:

Development, implementation and monitoring of all financial systems, records and controls encompassing accounts payable, general accounting, grants/contracts, and the custody and control of SHS assets in accordance with SHS policy and Generally Accepted Accounting Principles (GAAP).
All Health Resources Services Administration (HRSA) financial management and deliverables including annual federal financial reports (FFR), quarterly budgeting and electronic handbook management.
Assist in the development of the organization’s annual budget by department and capital expenditure plan, budget management and periodic financial projection forecasting.
Oversight of all cash flow, bank reconciliation, accounts receivable, accounts payable, asset management and financial statement reporting.
Oversight of the annual audit process and corrective action remediation plans (if needed) to ensure compliance with all regulatory guidance and standards including but not limited to the Centers for Medicare and Medicaid Services (CMS), and HRSA.
Assist in the preparation and submission of the organization’s Service Area Competition application to HRSA every three years as directed by the HRSA project Director.
Management of the organization’s monthly HRSA grant drawdown and acts as one of the administrators for the HRSA payment management system.
Directs and manages the organization’s Medicare and Medicaid cost reports, submission of all credit balance reports, and all annual IRS form 990.
All internal and external financial and statistical reporting to internal stakeholders, appropriate external third parties and regulatory agencies.
Assisting in the development of annual goals, objectives and long-term strategic planning used in conjunction with the development of the annual operating and capital budgets.
Directing and managing all of Spectrum’s accounts receivable through oversight of the Finance Director
Oversight of the third-party incentive bonus payment plans and Accountable Care Operating models.
Oversight of the 340B Pharmacy program revenue reporting.
Directing and maintaining accounts receivable.
Assist in developing Spectrum’s fiscal budgeting process by way of departmental budgets; reviews monthly departmental budget to actual reports and verifies any discrepancies; and monitors overall budget throughout the year through quarterly budget recasts.
Assist in the development and implementation of program additions or expansions and shall assist in the acquisition of appropriate funding to support program objectives.
Management of all insurance programs including all Medicaid, Medicare, commercial and sliding fee payments and revenue cycle leader
Manages Spectrum’s internal insurance plans including health, dental and all Spectrum’s property and casualty insurance policies.
Oversight, management and auditing of SHS’s 403 (b) and 457 plans.
Contact for federal and state reporting mechanisms, including UDS, FSR and other grant specific financial and strategic reporting.
Responsible for fiscal policy development, oversight, and maintenance.
Contact banks and other financial institutions to secure all funding for capital projects and to enter debt covenants and long-term obligations for board approved projects.
Management of all federal grant applications and proper budget administration and compliance reporting adherence
Strategically partner with Spectrum’s operations and clinical departments to assist with interdepartmental projects as needed.

The Ideal Candidate

Qualifications:

Ten years of experience in overall financial management, including at least three years with direct supervision of accounting personnel, preferably in a not-for-profit healthcare facility and a minimum of 5 years of experience in budget preparation.
Federally Qualified Health Care center experience (FQHC) preferred.
Understanding of medical terminology is required.
Well versed and knowledgeable of nonprofit audit best practices and state and federal law regarding nonprofit operations.
Prior experience working with a Board of Directors that is diverse and has both corporate and community member representation.
Able to serve as a strategic finance thought partner to the executive team, Board, medical staff and program leaders; helps others learn and increase in their financial acumen.
Knowledgeable of electronic medical/health record (EMR/HER) systems.
Prior experience working with external auditors, compliance, and regulatory oversight; able to create, build and manage relationships externally.
Experienced in the management of multiple local, state and federal grants.

Personal Attributes:

Motivated by the mission, vision, and values of Spectrum Health Services.
Able to work on a wide variety of projects; lending support where needed.
Strong, strategic leader with deep critical thinking analytical skills; able to develop frameworks for evaluating and recommending cross-functional options and solutions.
Caring, compassionate and empathetic; willing and able to work effectively with people from all walks of life.
Committed to building and fostering a diverse, inclusive, and collaborative workplace; displays a multicultural competence and works across lines of difference.
High integrity and credibility; honest and trustworthy.
Able to adapt to the continually evolving environment and thrive in an autonomous and deadline-oriented workplace.
Calm; able to work through times of crisis and uncertainty with ease; unflappable.
Able to work collaboratively as a part of a team and independently.
Possess strong problem solving and creative skills, as well as the ability to exercise sound, informed judgment and make decisions based on accurate and timely analyses.
Able to lead, motivate, and develop high-performing and diverse teams who deliver on ambitious goals and benchmarks.
Able to simplify complex matters and communicate them in an understandable way.
Excellent analytical, communication, and presentation skills.
Strategic thinker; willing to be available and helpful to the various departments and groups within the organization with policy reviews, performing long term planning, setting goals, determining priorities, and identifying potential risks and opportunities.
Demonstrated business acumen, especially in setting priorities, creating efficiencies, developing new processes, leveraging opportunities, and developing plans to define and achieve success. Exceptional written and oral communication skills, along with the ability to connect and communicate effectively as a leader with stakeholders at all levels in various fields online, by phone, and in person.

Education

Bachelors in business administration or related field is required.
Master’s in accounting and or Finance is preferred.
CPA, CMA, or other relevant certifications are highly desirable.

Compensation:

$175,000 to $200,000

Spectrum Health Services, Inc.

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