Chief Financial Officer (CFO)

BayWoods of Annapolis • Full-time • Annapolis, Maryland, United States • $140k / year • 1m ago

Company Overview: Located directly on the shores of the picturesque Chesapeake Bay and minutes from the charm and history of our state’s capital city, BayWoods of Annapolis is Maryland’s premiere waterfront Continuing Care Retirement Community (CCRC). Established in 2003, our community offers a variety of amenities that are uniquely ours, including walking trails, waterfront boardwalk, deck with panoramic views, and a pier.

BayWoods is a close-knit community assisted living facility. We offer superior care to our residents due to our excellent resident-to-caregiver ratios. Because of the dedication and passion of our staff, BayWoods has earned the distinction of being the Best Retirement Community in Annapolis from 2017-20 by What’s Up Magazine and Great Place to Work™ 2022-2025. When you work at BayWoods of Annapolis, you’ll work in a supportive environment that appreciates their employees and inspires you to make a difference with our seniors!

The Opportunity: BayWoods of Annapolis has an excellent opportunity for an experienced Chief Financial Officer. The Chief Financial Officer (CFO) position is accountable for the administrative, financial, and risk management operations of BayWoods Cooperative Housing Corporation, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results.

Essential Functions:

Planning

Assist in formulating the company's future direction and supporting tactical initiatives
Develop financial and tax strategies.
Manage Corporate Expense and Capital Budget Development and assist Directors in the development of their yearly departmental budget.
Develop performance measures that support the company's strategic direction.

Operations

Performs all operation Accounting functions such as: billing and collections, GL entries, process payroll according to company set schedule, account reconciliations, and bank account reconciliations.
Conducts Payroll Based Journaling (PBJ).
Facilitates audit reporting and processes.
Participate in key decisions as a member of the executive management team.
Maintain in-depth relations with all members of the management team.
Provide consultative support to Department Directors and Managers by providing financial support of organization and department planning initiatives.
Manages the accounting/ finance department and Office Manager.
Prepare IRS 1099 forms.
Recruit, train, supervise, and evaluate department staff.
Collaborates with the Director of Business Development to ensure the efficiency and accuracy of the settlement process for new residents.
Manage any third parties to which functions have been outsourced.
Oversee the company's transaction processing systems.
Implement operational best practices.

Financial Information

Ensure financial recording and reporting system is maintained in accordance with generally accepted accounting principles.
Oversee the timely issuance of financial information, and report financial results to the Board of Directors.
Timely develop and file all government financial filings (Cost Reports, DOA Submissions, Tax Returns, etc.)

Risk Management

Understand and mitigate key elements of the company's risk profile.
Construct and monitor reliable control systems.
Maintain appropriate insurance coverage.
Ensure that the company complies with all legal and regulatory requirements relating to finances.
Ensure that record keeping meets the requirements of auditors and government agencies.
Report risk issues to the audit committee of the Board of Directors.
Maintain relations with external auditors and investigate their findings and recommendations.

Funding

Monitor cash balances and cash forecasts.
In collaboration with the Executive Director arrange for debt and equity financing.
Invest corporate funds as appropriate using Board approved policy.

Other Duties

31. Operate as the member of a team, both within the department and across departments

32. Familiarity with emergency procedures and be requirement to assist with evacuation

Attends in-service training and education sessions, as assigned; complete Relias training on time every month.

34. Participates in the Manager on Duty Rotation

Other duties as assigned

Qualifications:

Bachelor’s degree in accounting required; master’s degree in business, finance or accounting preferred.

1. Five or more years of experience in finance or accounting position in the senior living industry is preferred.

Experience in strategic planning and execution.
Knowledge of contracting, negotiating, and change management.
Knowledge of finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles.
Knowledge of automated financial and accounting reporting systems.
Knowledge of federal and state financial and insurance regulations, including Medicare.
Ability to analyze financial data and prepare financial reports, statements, and projections.
Work requires professional written and verbal communication and people skills.
Ability to motivate the accounting/ finance team to produce quality materials within tight timeframes and simultaneously manage multiple projects.

Ability to participate in and facilitate group meetings.

EEO: BayWoods of Annapolis is an equal opportunity employer and prohibits employment discrimination based on race, color, age, sex, sexual orientation, religion, physical and mental disability, National origin, genetic information, or marital status.

Job Type: Full-time

Pay: From $140,000.00 per year

Benefits: