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Posted: 03-Sep-24
Location: Lynchburg, Virginia
Type: Full Time
Salary: $112,000 to $148,000
Categories:
Sector:
Required Education:
Internal Number: CAN12423
Job Title: Chief Financial Officer (CFO)
Reports To: Chief Executive Officer (CEO)
FLSA Status: Exempt
Salary: $112,000 to $148,000
Status: Full-Time
Telework: No - Position is primarily on-site
Location: Lynchburg, Virginia
Travel: Occasional overnight travel to Virginia
Purpose:
An integral member of the leadership team, the CFO contributes to the development of the health center’s strategic goals and objectives, as well as the overall management of the organization. The CFO oversees the financial operations of the health center, ensuring all financial decisions and processes support the health center’s mission and financial stability. The CFO is responsible for all fiscal activities of the health center, to include development and monitoring of financial policies and procedures, development and maintenance of operational and capital budgets, cash management, and ongoing analysis of revenue generation. The CFO leads all day-to-day finance operations, with functional responsibility over accounting, payment processing systems, grants administration, banking operations, etc. while ensuring compliance with GAAP and other regulatory requirements. The CFO monitors, directs, analyzes and reports the financial and operations environment to the CEO and Board of Directors.
Responsibilities:
Fiscal Management:
- Develops and manages the accounting system to provide accurate and timely information used for decision-making and reporting.
- Develops and maintains internal auditing procedures to ensure compliance with organizational policy and assesses the effectiveness of management controls.
- Designs and manages systems, processes and procedures for handling cash receipts and disbursements, ensuring segregation of duties.
- Monitors, directs, analyzes and conveys financial performance to the CEO.
- In conjunction with the CEO, develops the annual budget and long-range budgets, including capital expenditure budgets.
- Assures compliance with all regulatory and compliance matters and manage all legal and contractual matters in accordance with current laws, rules, regulations and standards.
- Performs interim and monthly account reconciliations. Prepares and posts adjusting general journal entries according to GAAP standards.
- Responsible for month and annual close processes, including reconciliation of practice management system activity to the general ledger.
- Ensures accurate payroll and associated payroll tax liability payments. Ensures completion of monthly, quarterly and annual payroll tax reports.
- Assists with the review and revision of benefit plans, compensation structure and staffing levels.
- Performs complex financial analyses and evaluate operating results with regard to cash flow, costs, budgets, utilization of resources and organizational productivity.
- Reviews lines of business quarterly to determine solvency.
- Manages staffing to budgeted FTEs and monitors costs for savings opportunities.
Grants and Federal Reporting:
- Prepares and presents annual federal and state grant budgets to CEO and Board of Directors.
- Submits federal grant budgets and supports schedules per agency requirements within the Electronic Handbook (EHB).
- Compiles, completes and submits grants management and required agency reports including, but not limited to, the SF 425-Federal Financial Report, UDS-Uniform Data System, Form 22-92 Medicare Cost Report, CMS 838-Medicare Credit Balance Report, and other grant-specific reports.
- Maintains master grant files with supporting documentation, agency correspondence and award notifications.
- Ensures compliance with OMB Circular A-133 requirements.
Other Accounting Responsibilities:
- Manages all aspects of the practice’s revenue cycle and practice management system.
- Monitors patient and insurance accounts receivable monthly to ascertain effectiveness of practice management system workflow.
- Maintains and updates charge schedules annually.
- Responsible for the reduced fee program, including review of internal audit findings and educating staff on program requirements.
- Manages all contracts with insurers and other agencies to include oversight of contract requirements and provisions to ensure full compliance.
- Reviews and updates annual business insurance policy coverage.
- Assists with the completion of the annual Form 990 and A-133 Audit.
Board of Directors Relationship and Responsibilities:
- Reviews details of monthly financial activity and financial statement with the Board Finance Committee.
- Presents monthly financial statements, federal and operating budgets, audits and Form 990 for review and acceptance/approval by the Board of Directors.
- Presents fiscal policies to the Board for review and approval.
Human Resources Duties and Responsibilities:
- Effectively supervises Staff Accountant and Grant Fiscal Specialist.
- Participates in interviewing and candidate selection process.
- Develops and coordinates new employee orientation and onboarding program within the finance department.
- Maintains documentation and follows corrective action process.
- Completes performance appraisal process per established policies.
Leadership Duties and Responsibilities:
- Consistently works in a positive and cooperative manner with other employees in and outside of department.
- Communicates well with staff, is readily available and responds quickly to internal and external customers.
- Values and incorporates the contributions of people from diverse backgrounds; demonstrates respect for the opinions and ideas of others.
- Shares information and own expertise with others to enable accomplishment of goals and objectives.
- Assists other team members in the performance of their assignments, projects, or goals.
- Provides appropriate forums to encourage teamwork with staff members.
- Functions independently and adapts to changes in the work environment.
- Meets and interfaces professionally with other healthcare professionals and organizations in the community.
- Provides leadership, exercises appropriate influence, tactful judgment, and proper conduct to negotiate matters and carry out policies and programs for the best interests of the health center, its staff and patients.
Quality Improvement Duties and Responsibilities:
- Demonstrates commitment to excellence by consistently looking for ways to improve and promote quality within organization.
- Identifies problems in a timely manner and develops alternative solutions to problems.
- Contributes to Continuous Quality Improvement activities within the department and organization.
- Consistently evaluates work and evaluates if further steps are needed to meet customer/patient/management expectations.
- Demonstrates sound judgment by taking appropriate actions regarding questionable findings or concerns.
- Continually monitors to ensure compliance with FQHC standards.
Qualifications:
- Bachelor's degree required, with a preference for a major in Accounting or Finance. Master’s degree strongly preferred.
- Three years’ experience managing the financials as a Controller/CFO of a high-growth non-profit organization.
- Experience with FQHC accounting, cost reporting and revenue cycle management.
- Experience with eClinicalWorks and QuickBooks strongly preferred.
Skills:
- Knowledge of rules, regulations and financial reporting standards for FQHCs.
- Ability to analyze financial data and patterns.
- Demonstrated effectiveness in revenue cycle management.
- Experience managing federal grants and submitting required reports.
- Ability to prepare more complex documents in Microsoft Word and Excel.