Chief Financial Officer (CFO)
Concord Orthopaedics Professional Association
A Division of Northeast Orthopaedic Alliance
Salary: ~$150,000 - Commensurate with experience
Position Overview The Chief Financial Officer (CFO) serves as the principal steward of the organization’s financial integrity and performance. This executive leadership role is responsible for the comprehensive management of all financial operations, including strategic planning, budgeting, financial reporting, regulatory compliance, and risk management.
The CFO partners closely with leadership and physician stakeholders to ensure fiscal stability, operational efficiency, and long-term, sustainable growth across the organization and its affiliated entities.
Key Responsibilities Financial Leadership & Strategy
- Lead the organization’s overall financial strategy in alignment with business objectives
- Advise executive leadership and physician partners on financial performance, risks, and opportunities
- Develop financial models to support growth initiatives, acquisitions, new service lines, and capital investments
- Provide ongoing financial analysis across physicians, locations, and subspecialties
Budgeting & Financial Reporting
- Develop, manage, and monitor annual operating and capital budgets
- Prepare monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow analysis
- Present variance analyses with actionable recommendations
- Produce ad hoc financial reports and in-depth analyses as needed
Accounting & Financial Operations
- Oversee all accounting functions, including accounts payable/receivable, general ledger, and payroll processes
- Ensure accurate month-end and year-end close processes
- Maintain fixed asset records, depreciation schedules, and loan documentation
- Oversee cash management, bank reconciliations, and cash flow reporting
- Manage 1099 preparation and related filings
Tax & Compliance
- Oversee tax strategy and compliance, including federal, state, and local tax requirements
- Manage preparation of annual tax filings in coordination with external accounting firms
- Ensure compliance with healthcare regulations, accounting standards, and applicable laws
- Lead external audits and serve as primary liaison with auditors
- Support Form 5500 preparation and 401(k) audits
Revenue Cycle & Operations Oversight
- Provide oversight of billing and collections to ensure efficient revenue cycle management
- Monitor claims processing, collections, and reimbursement activities
- Administer physician compensation models, including bonuses, profit-sharing, and distributions
Real Estate & Contract Management
- Oversee the organization’s real estate portfolio, including acquisition, leasing, and property management
- Evaluate occupancy costs and align real estate strategy with operational goals
- Manage financial aspects of contracts, including real estate agreements, equipment leases, and service contracts
Risk Management & Internal Controls
- Establish and maintain strong internal controls to safeguard assets and ensure accurate reporting
- Oversee corporate insurance programs (property, casualty, and liability)
- Participate in enterprise risk management and compliance initiatives
Banking & Financial Partnerships
- Maintain relationships with banks, lenders, and external partners
- Oversee corporate debt, including compliance with covenants and negotiation of financing arrangements
Leadership & Collaboration
- Lead, mentor, and develop finance and accounting staff
- Collaborate with leadership across HR, IT, clinical operations, and business development
- Participate in strategic planning and execution of new business initiatives and partnerships
- Serve as liaison with vendors, consultants, and professional organizations
Qualifications
- Education: Bachelor’s degree in Finance, Accounting, or related field required; advanced degree preferred
- Experience: Minimum of 5+ years in financial leadership, ideally within healthcare or physician practice management
- Skills:
o Strong financial modeling, analysis, and strategic planning expertise
o Deep knowledge of accounting principles, tax regulations, and healthcare finance
o Experience with budgeting, forecasting, and operational finance
- Leadership: Proven ability to lead teams, drive performance, and manage complex financial operations
- Communication: Excellent interpersonal and communication skills; able to effectively engage with executives and physician partners
Additional Expectations
- Participate in professional organizations such as OrthoForum
- Engage in ongoing professional development and industry best practices
- Lead and support special projects as assigned
