Job Summary:
The Chief Financial Officer/Vice President, Financial Services (CFO/VP), serves as a key member of the Senior Leadership Team, which is responsible for overall leadership of the organization. The CFO/VP has overall responsibility for all aspects of accounting & financial management of the organization. The CFO/VP is specifically responsible for strategical & operational leadership of the Finance team, including responsibility for ensuring a successful relationship and strong overall outcomes for the outsourced delivery of Revenue Cycle services and all other duties as assigned in support of the organization.
Supervisory Responsibilities: Controller/Director of Finance, Manager-Materials Management, primary liaison and owner of MMH’s outsourced revenue cycle services division.
Duties/Responsibilities:
FINANCIAL LEADERSHIP & OVERSIGHT
- Responsible for organizing, directing & controlling the financial affairs of the organization. As such, the CFO/VP will provide timely, accurate reports to management & the Board of Directors; ensure that adequate accounting systems exist; establish & maintain appropriate policies & procedures; coordinate compliance with all regulatory requirements related to finance, help direct and ensure robust financial analysis around all key organizational business decisions.
- Manage receipt of revenues, expenditure of funds & conservation of assets.
- Analyze operating data & financial reports to monitor performance, identifying trends & determining needs for new control systems.
- Develop an annual operating & capital budget process.
- Oversee long‑term capital planning, facilities financial modeling and major capital project evaluation, ensuring alignment with strategic growth initiatives.
- Responsible for the treasury function, including cash management, securing operating & capital funds, & investment of surplus funds.
- Determine that the assets of the hospital are properly & adequately insured.
- Manage all aspects of the outsourced delivery of revenue cycle services‑ including review & evaluation of accounts receivable reporting for determination of adequate reserves & allowance policies & procedures.
- Provide financial leadership for payer strategy, including risk‑based contracts, bundled payments, shared‑savings programs and evaluation of new reimbursement models.
- Negotiates all third‑party payer agreements for the organization.
- Responsible for all Real & Personal property tax filings, including the necessary filings to claim any new properties as exempt.
- Responsible for all Community Benefit calculations and reporting, including INDOH reporting requirements of annual fiscal reports.
- Provides the reporting to administer the TCH Cardiac Joint Venture.
STRATEGIC LEADERSHIP & ORGANIZATIONAL SUPPORT
- Assist the President/CEO in implementing Margaret Mary Health’s strategic objectives.
- Continuously explore opportunities to enhance the hospital’s financial position & strengthen appropriate organizational growth & development.
- Help to set the tone for financial discipline & the importance of financial balance to achieve the mission & vision.
- Serve as the financial leader for partnerships, affiliations and physician alignment strategies, including due diligence and pro‑forma development.
- Build succession plans, oversee talent development for the finance team, and ensure financial literacy training for organizational leaders.
REPORTING & COMPLIANCE
- Prepare, analyze, & present monthly financial & statistical reports to the Board of Directors &/or Finance Committee, and any other group as requested.
- Coordinate the annual financial audit, cost report & tax filings.
- Review & evaluate all third‑party audit reports & resolve any concerns or problems that have arisen.
- Responsible for ensuring the assigned departments’ compliance with all accreditation requirements, The Joint Commission, Indiana Department of Health, & local, state & federal licensing & operating requirements
RISK MANAGEMENT & INSURANCE
- Provide leadership for organizational risk management, including identification of financial and operational risks, mitigation strategies, and alignment with Board‑level risk priorities.
- Manages the insurance portfolio for the organization, including all lines of coverage and captive products.
TECHNOLOGY & SYSTEMS LEADERSHIP
- In collaboration with IT leadership, lead financial systems modernization, including EHR‑financial integrations, automation, data governance and analytics capabilities to support operational and clinical decision making.
- Ensure appropriate financial controls and cybersecurity safeguards.
OPERATIONAL OVERSIGHT
- Oversee the assigned directors & department managers’ development & maintenance of an ongoing, systematic performance improvement process ensuring standards & monitoring mechanisms are in place to identify deficiencies or areas for improvement.
- Manages the relationship with any third‑party bio‑medical service provider, ie Trimedx, Renovo, etc.
- Manages the BTD employee clinic relationship.
GOVERNANCE, CULTURE & COMMUNICATION
- The CFO/VP is expected to serve on committees, as deemed appropriate to the position, & participate in community service events.
- Ensure that communication is effective & timely.
- Foster critical thinking & effective change management.
- Hold self & others accountable for exhibiting professional behavior & demonstrating organizational values.
- Promote positive relationships with patients, visitors, providers & fellow team members.
- Must embrace & support the “Margaret Mary Way” culture.
Required Skills/Abilities:
- Excellent written, oral & interpersonal skills necessary for effective communication.
- Knowledge of performance improvement. Must be a proven team player.
- Must be self-motivated & have a proven track record of developing & motivating team members.
- Ability to operate standard office machines to include telephone, computer, & calculator. Has knowledge of clinical equipment & supplies.
Education and Experience:
- Bachelor’s degree in accounting or finance required. CPA, CMA, master’s degree in accounting, Finance or related field is highly preferred. FHFMA certification is also preferred.
- Minimum of 7-10 years of progressive accounting, finance & management experience in a hospital or healthcare organization is strongly preferred.
- Experience could be gained as CFO or Controller in a small to medium-sized independent organization, or for a hospital within a larger health system. Experience could also be gained from a CPA firm with significant hospital or healthcare clients.
- Strong operational accounting/financial leadership experience is preferred, ideally to include patient financial services & revenue cycle analysis.
- Proven experience with Lean or other process improvement initiatives is highly preferred.
- Proven skills in cost analysis, forecasting & financial modeling is required. Understanding of the reimbursement impact of shifting from volume to value-based care.
- Experience with third party payor contracting and negotiation is beneficial
Physical Requirements:
- Work requires moderate physical effort with prolonged periods of sitting, occasional standing, walking, climbing, lifting & reaching throughout the day.
- Ability to lift up to 20lbs on occasion.
