Posted: 24-Aug-24
Location: Plano, Texas
Salary: Open
Categories:
Internal Number: 24013141
JOB SUMMARY
Reporting to the VP, Chief Financial Officer (CFO) - DFW East Region, the CFO - The Heart Hospital (THH) plans, organizes, and oversees activities related to financial management for Baylor Scott and White Health (BSWH), which may include financial planning and analysis, accounting, patient financial services, budgeting, external financing, treasury, investment, reimbursement, and financial and accounting systems. Develops, interprets, and implements financial concepts for financial planning and control. Performs in-depth analysis and assessment to determine present and future financial performance for BSWH organizations and areas of responsibility. Provides financial oversight of major BSWH business initiatives. Gathers, analyzes, prepares, summarizes, and presents financial recommendations, which may include plans, proposals, trending reports, operating forecasts, joint venture structuring, and acquisition analysis. Performs research and studies in areas of rates of return, depreciations, revenue recognition, working capital requirements, investment opportunities, investment performance, and impact of government requirements. Establishes and implements policies and procedures related to financial operations and accounting practices. Develops programs and processes necessary to monitor and measure the execution of financial plans and ensures that BSWH operates in a financially responsible manner.
An entity Vice President (VP) develops strategy and business plans for one or more business units. Business unit may include a level of smaller entity vice presidents (e.g., small hospitals, clinics, etc.). Leads strategy execution, identifies resourcing needs, and provides guidance for significant tactical decisions. Focuses on current-year operations and participates in establishing multi-year strategies and business plans. Erroneous decisions at this level tend to have a long-term negative effect on the success of the organization. Leads and directs a single business unit or region. Typically directs multiple levels of subordinate directors and/or managers covering varied disciplines and skill levels. Has managerial accountability for staffing and budgets for a large span of control (at least 2 managers/directors). Exercises wide latitude in determining objectives and approaches to critical assignments. Responsible for executing a portion of the business strategy.
ESSENTIAL FUNCTIONS
- Oversees all financial functions of assigned area of responsibility, including accounts, ledgers, reporting systems ensuring compliance with Generally Accepted Accounting Principles (GAAP), regulatory, and reporting requirements.
- Partners and collaborates with the system CFO, region CFOs, and other finance senior leadership to develop and execute on financial and accounting priorities for BSWH.
- Leads the monthly review and analysis of financial statements to ensure completeness, accuracy, and relevance, and communicates results as appropriate to leadership teams, medical staff, president, CEO, operating boards, and Board of Trustees.
- Evaluates operations for adherence to predetermined financial goals and business objectives and communicates pertinent financial results and action plans to the appropriate leadership, committees, and operating boards.
- Leads strategic financial planning and budgeting processes to set business targets and operationalize financial plans and budgets.
- Establishes, revises, and communicates financial policies, procedures, and guidelines and ensures consistent alignment with overall BSWH policy.
- Leads the review and timely completion of tax returns and government reporting, provides tax guidance, and directs the work of external service providers.
- Reviews, designs, and implements processes and continuous improvement in various financial systems, programs, and procedures.
- Oversees the integrity of financial internal controls, including internal and external audits, financial compliance issues, and other financial review activities.
- Oversees the revenue cycle activities ensuring appropriate performance metrics and goal measurement are in place for billing and collection operations, including access services, charge capture, charge master, health information management, billing and collections, customer service, account adjudication, and revenue cycle compliance.
KEY SUCCESS FACTORS
- Bachelor's degree in finance, accounting, business, or related field preferred. Master's degree preferred.
- 5+ years of experience in finance, accounting, or related field. 10+ years of experience preferred.
- 1+ years of experience in a leadership role. 3+ years preferred.
- Strategic financial planning and analysis skills.
- Professional certification preferred, such as CPA, CMA, CHFP, or FHFMA.
- Strong knowledge of the healthcare industry, with understanding of revenue cycle operations.
- Mastery of GAAP with solid understanding of government reimbursement and tax regulations in healthcare.
- Outstanding leadership skills, with a collaborative and flexible leadership style.
- Excellent verbal and written communication skills.
- Ability to exert influence and gain consensus at all organizational levels, in both direct, matrix, and consultative relationships with internal and external stakeholders.
MINIMUM REQUIREMENTS
- Bachelor's or 4 years of work experience above the minimum qualification
- 5 years of experience