General Description

Leads the finance and accounting function and accounting team for the organization. Collaborate with Chief Operating Officer and other operational leaders, as needed, to manage the company’s financial operations, forecasting, financial analysis, and budgeting process. Leads efforts on financial aspects of business development initiatives, including but not limited to, development of business pro formas. Effectively represents the organization as the financial executive leader.

Essential Duties

Manages the forecasting, analysis, and reconciliation of the organization-wide annual budgeting process.

Distributes and communicates corporate templates and information requests from corporate to operations leaders and meets to obtain and discuss budget proposals for the coming year.

Applies financial models, evaluates forecasted numbers, and obtains explanations and justifications from operations leaders relating to significant increases and decreases from previous periods.

Partners with operations leaders to scrutinize planning based upon prior activity, occupancy levels, financial models, etc.

Conducts cost/benefit analysis for proposed spending.

Leads efforts on financial aspects of business development initiatives, including but not limited to, development of business pro formas.

Incorporates corporate NOI expectations into budget planning. Identifies and discusses potential enhancements and obstacles in meeting expected numbers.

Collaborates with Chief Operating Officer (COO) to discuss and resolve budget issues concerning departments’ forecasting and planned spending.

Critically reviews capital expense requests (CER); collaborates with Chief Operating Officer (COO) to prioritize capital expense requests across organization.

Follows corporate purchasing guidelines and tracks approved capital spending.

Prepares executive presentations of pertinent financial metrics and effectively delivers information to key stakeholders and clients.

Communicates finalized budget numbers to department heads and educates regarding meaning.

Monitors budget expenses throughout the year. Routinely distributes reports and meets with operations leaders to discuss financial performance and ensure integrity of data. Reconciles plan variances. Alerts operations leaders regarding anticipated difficulties in meeting NOI targets. Obtains operations leader’s directives regarding budget and operational changes and incorporates into budget.

Prepares and supervises the preparation of routine and specially requested statistical and financial reports and analysis for review by operations leaders. Identifies and presents trend lines and projections relating to income and expenses. Reconciles accounts and interprets results.

Submits monthly and quarterly food service, central supply, housekeeping inventory reports to corporate office. Routinely monitors inventories of supplies. Conducts cost/benefit analysis for current and proposed resources. Analyzes buy versus lease decisions equipment. Audits cash handling and purchasing/bid processes to ensure compliance, to assess credibility of vendors, and to conduct proper analysis of bids.

Ensures that corporate policies and procedures relating to cash, accounting, collections, purchasing, budget, and payroll are followed to maintain SOX compliance.

Proactively manages DSO rates and follows collection procedures to obtain payments and reduce DSO. Reconciles resident accounts and informs operations leaders regarding residents behind in fee payments. Reviews aging of accounts receivables and recommends bad debt write-offs.

Prepares and posts notifications to residents regarding rate increases as approved by corporate office. Routinely posts and calculates interest payments for resident’s security deposits. Requests security deposit refunds for departing residents. Reviews other credits for residents and approves refunds as appropriate.

Upon request, may provide financial information relating to expansion and renovations in community. Assists with financial studies and projections as it may relate to the profitability of expanded services. May assist operations leaders regarding coordination of construction phases with operational requirements.

This job description represents an overview of the responsibilities for the above referenced position. It is not intended to represent a comprehensive list of responsibilities. An associate should perform all duties as assigned by his/ her supervisor.

CERTIFICATES, LICENSES, REGISTRATIONS

Bachelor's degree in accounting, management, business, or related field; or equivalent combination of education, training, and experience.

Qualifications

Minimum of five years of progressive accounting experience for an operations center within a large multi-facility corporation.

Experience in Senior Living industry and Senior Living Business Development experience strongly preferred.

Prior experience in the health care industry and related professional certifications are preferred.

Prior Leadership Experience Preferred.

Additional 2 years of accounting experience that includes Medicare processing and rules and regulations preferred.

Prior experience that includes extensive knowledge of the financial implications and the state insurance rules and regulations governing Entry Fee communities and similar arrangements.

Specific Requirements

Must be able to read, write, speak, and understand the English language.

Must be a supportive team member, contribute to and be an example of team work and team concept.

Must possess the ability to make independent decisions when circumstances warrant such action.

Must possess the ability to deal tactfully with personnel, residents, family members, visitors, government agencies/personnel, and the general public.

Must possess leadership and supervisory ability and the willingness to work harmoniously with and supervise other personnel.

Must possess the ability to plan, organize, develop, implement, and interpret the programs, goals, objectives, policies and procedures, etc., that are necessary for achieving strategic company objectives.

Must have patience, tact, a cheerful disposition and enthusiasm, as well as the willingness to handle difficult personalities.

Must be willing to seek out new methods and principles and be willing to incorporate them into existing management practices.

Must not pose a direct threat to the health or safety of other individuals in the workplace.

Omega Senior Living is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, age, national origin, protected veteran status, disability, or any other basis protected by federal, state, or local law. Applicants have rights under Federal Employment Laws

Omega Senior Living Jobs

Chief Financial Officer - OSL