Job Title: Chief Financial Officer (CFO)
Location: Soldotna, AK
Reports to: Chief Executive Officer (CEO)
Department: Finance
Job Summary:
The Chief Financial Officer (CFO) is responsible for overseeing the financial operations of the hospital. The CFO will provide strategic leadership in financial planning, management, and reporting, ensuring the hospital’s financial health and sustainability. This role is key in developing long-term financial strategies, managing budgets, financial forecasting, and ensuring compliance with regulatory standards. The CFO will work closely with senior leadership and department heads to align financial strategies with the hospital's mission and goals.
Key Responsibilities:
- Financial Planning and Analysis:
- Lead the hospital’s financial planning, budgeting, and forecasting processes.
- Provide financial analysis and reporting to inform decision-making and strategic planning.
- Monitor financial performance and recommend adjustments to achieve financial goals.
- Financial Operations and Reporting:
- Oversee all accounting functions, including financial reporting, general ledger management, payroll, accounts payable, and accounts receivable.
- Ensure timely and accurate preparation of financial statements, including balance sheets, income statements, and cash flow statements.
- Ensure compliance with all financial regulations, accounting standards (GAAP), and reporting requirements.
- Strategic Financial Leadership:
- Collaborate with the CEO and executive team to develop and implement long-term financial strategies to support the hospital’s mission and goals.
- Provide leadership in optimizing resource utilization, cost control, and capital investments.
- Analyze financial trends and market conditions to recommend actions that drive financial sustainability.
- Cash Management and Investment:
- Oversee cash flow management, ensuring the hospital maintains sufficient liquidity to meet operational needs.
- Develop strategies to manage capital structure, optimize working capital, and ensure cost-effective investments.
- Regulatory Compliance and Risk Management:
- Ensure compliance with federal, state, and local healthcare regulations, as well as hospital policies.
- Oversee risk management strategies, including insurance coverage and internal financial controls to mitigate financial risks.
- Coordinate audits and ensure accurate financial record-keeping.
- Leadership and Team Management:
- Lead and mentor the finance team, promoting professional development and high performance.
- Foster a collaborative environment across departments to align financial goals with organizational priorities.
- Communicate effectively with the Board of Directors, executive team, and other stakeholders about financial performance and strategy.
- External Relations:
- Serve as the primary contact for external auditors, banks, insurance carriers, and other financial institutions.
- Assist in raising capital for hospital expansion or improvement projects, including financing options.
- Cost Management and Operational Efficiency:
- Oversee the development and implementation of cost control initiatives.
- Recommend operational improvements to reduce expenses and enhance financial efficiency.
Qualifications:
- Education:
- Bachelor's degree in Accounting, Finance, Business Administration, or a related field (required).
- MBA or Master's in Healthcare Administration (preferred).
- CPA, CMA, or other relevant certifications (preferred).
- Experience:
- Minimum of 7-10 years of progressive financial management experience, with at least 5 years in a leadership role, preferably within the healthcare industry.
- Strong understanding of healthcare finance, including reimbursement, billing, and regulatory compliance.
- Proven experience in strategic planning, budgeting, financial forecasting, and financial analysis.
- Skills and Competencies:
- Strong knowledge of accounting principles, financial regulations, and healthcare industry standards.
- Excellent leadership, communication, and interpersonal skills.
- Analytical mindset with strong problem-solving capabilities.
- Ability to work collaboratively with diverse teams and stakeholders.
- Proficiency in financial software and ERP systems (e.g., Microsoft Excel, Epic, Cerner).
- Personal Attributes:
- High ethical standards and integrity.
- Strong business acumen and a strategic thinker.
- Ability to handle multiple tasks and prioritize in a fast-paced environment.
- Detail-oriented with a focus on accuracy and accountability.
Physical Demands:
- Ability to sit at a desk for extended periods.
- Occasional lifting of materials up to 20 pounds.
- Ability to attend meetings and work under deadlines.
Work Environment:
- Office environment within the hospital.
- Occasional travel for meetings, conferences, or site visits may be required.
