POSITION SUMMARY:
The Chief Financial Officer (CFO) assures the internal operations of the organization, working in concert with all policies and procedures under the directives of the Chief Executive Officer. The CFO is responsible for appropriate compliance with all budgetary and governing entity requirements for fiscal compliance. The CFO assures all activities are in concert with Generally Accepted Accounting Principles.
ESSENTIAL DUTIES/RESPONSIBLITIES:
- Regularly reports organization's finances to Executive Director and Board of Directors, offering recommendations about resource utilization, and assumptions underlying budget forecasts. Attend the finance committee meeting of the health center’s Board of Directors and present the current fiscal situation.
- Prepare annual health center budget as well as individual grant budgets; coordinate all departmental budgets; work with all department managers throughout the year to insure that expenditures adhere to legal and budgetary requirements. Obtain approval of all budgets by the Board of Directors.
- Serves on the management team and provides financial leadership for the Center
- Develops financial plans and authorizes operating budgets; monitors utilization of resources in all areas of the organization.
- Responsible for all financial accounting and reporting, procedures and internal controls of the departments.
- Develops, recommends and implements accounting operational policies, procedures and processes that assure organized, efficient and compliant management systems
- Prepares balance sheets, profit and loss statements, and other financial reports. Assure adherence to Generally Accepted Accounting Principles.
- Responsible for recruitment, supervision, training, and evaluation of the Finance Department staff.
- Provides overall supervision of Payroll, Purchasing, Accounts Receivable, Accounts Payable and the Billing Department.
- Develops, supervises, and coordinates all efforts to attain maximum third party reimbursement
- Responsible for organization’s relationship with federal and state tax authorities and government regulator.
- Maintains compliance with regulations governing healthcare facilities and the rules of accrediting bodies by monitoring operations and initiating changes where required.
- Provide fiscal management of city, state and federal grants.
- Supervise and/or prepare all regulatory reports.
- Oversee and assure timely, accurate payroll and associated tax filings.
- Compile bank reconciliation and reconcile bank deposits with daily journals and deposit records.
- Ensure all insurance coverage is in place for staff, malpractice, general property etc.
- Provide annual training to staff related to sliding fee schedule.
- Develops financial plans and monitors utilization of resources of the organization.
- Directs daily operations to achieve budgeted results and other financial criteria and to preserve the capital funds invested in the organization by using Generally Accepted Accounting Principles.
- Coordinate a cost-effective materials management program by performing an annual assessment and competitive pricing of supplies and services.
- Collaborate efforts to contract organizations/vendors (i.e. Health Department, TPCA, other federally qualified clinics, leadership, and payor groups.)
- Performs other duties assigned.
- Memphis Health Center Inc. is an Equal Opportunity Employer Revised 08/2020
EDUCATION/EXPERIENCE:
- Bachelor’s degree or equivalent in accounting or finance. CPA preferred but not required.
- Master’s degree preferred
- A minimum of five to seven (5-7) years’ successful practice management experience, preferably in the healthcare industry
- A demonstrated proficiency in organization efficiency and cost accounting
- Language/Communication/Organizational Skills: Must demonstrate knowledge of skills necessary for communicating with all ages and diverse cultures. Must be able to assess situations, identify issues/problems and prioritize duties.
Reasoning Ability: Uses personal experience, knowledge and other outside resources to make logical decisions to solve problems.
Skills:
- Ability to communicate clearly and demonstrate good interpersonal skills.
- Ability to analyze unit costs and they pertain to the overall effective management of the organization.
- Ability to assess expenditures and revenue sources to assure the most cost-efficient as well as cost-benefit approach.
- Ability to analyze financial data and develop systems to address contractual compliance.
- Ability to explain financial systems in an understandable fashion.
Job Type: Full-time
Pay: $135,000.00 - $195,000.00 per year
Benefits:
- Dental insurance
- Employee assistance program
- Health insurance
- Life insurance
- Paid time off
- Retirement plan
- Vision insurance
Application Question(s):
- Walk me through your process for developing financial forecasts and budgets.
- Describe how you've built and developed a high-performing finance team
- Describe a time you had to deliver difficult financial news to the board or investors. How did you handle it?
- Tell me about a time you had to pivot due to a major, unexpected market shift. What did you do?
Education:
Experience:
- Finance: 7 years (Required)
Work Location: In person
