Chief Financial Officer(CFO)

Overview

Under the administrative direction of the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) is the highest-level financial executive. The CFO has complete oversight of all fiscal functions within AHMC Anaheim Regional Medical Center (ARMC) including the development, interpretation, coordination, and administration of the hospital’s policies on finance, accounting, insurance, financial/accounting systems, internal controls, budgeting, and auditing. The CFO oversees the planning and direction of all finances, formulates long-range goals and plans for expansion, and ensures adequate execution of operating policies consistent with overall objectives. The CFO manages, directs, plans, and coordinates the functions and activities of assigned areas; serves as part of the hospital’s senior management team. The incumbent will ensure efficient utilization of resources to meet the needs of the organization and maintain compliance with all federal, state, local, and government agencies as required.

Participates in executing administrative decisions as these functions relate to and impact the provision of total patient care. Works collaboratively with all departments and members of the Medical Staff to accomplish the strategic goals and enhance the mission of AHMC Anaheim Regional Medical Center. This position requires full understanding and active participation in fulfilling the Mission of AHMC Anaheim Regional Medical Center and demonstrating behavior consistent with the Core Values. The CFO shall support the Hospital’s strategic plan and the goals and direction of the Performance Improvement Plan.

Responsibilities

TASKS/DUTIES/RESPONSIBILITIES

1. Plans, develops, organizes, implements, directs, and evaluates ARMC’s fiscal function and performance.
2. Provides timely and accurate analysis of budgets, financial reports, and financial trends to the CEO and the Board of Directors.
3. As a member of the ARMC’s Administrative Team, participates in financial and functional decision-making processes necessary for the successful attainment of the hospital’s mission and/or strategic plan.
4. Collaborates with members of the Administrative Team to develop financial goals and objectives for the hospital.
5. Provides financial expertise in the planning of new services and the expansion of existing services promoting revenue growth.
6. Provides proactive guidance regarding management of assets and financial trends within the facility.
7. Collaborates with department directors and patient care executives to implement financial plans and productivity benchmarks.
8. Develops financial plans and authorizes operating budgets in accordance with established goals.
9. Monitors capital asset expenditures and depreciation; prepares annual operating budgets with input from the departmental level.
10. Prepares hospital operating and capital budgets based on past, current, and anticipated expenditures and revenues.
11. Directs compilation of data and preparation of financial and operating reports for effective administration of hospital activities.
12. Devises and installs new or modified accounting systems to provide complete and accurate records of hospital assets, liabilities, and financial transactions.
13. Evaluates accounting and patient accounting procedures for quality control and plans methods for ensuring timely receipt of payment on patient records.
14. Keeps up to date with all federal and state statutes surrounding participation in government programs.
15. Directs the facility’s information resources and plans; ensures optimal data security systems are maintained.
16. Develops and implements policies and procedures ensuring that goals and objectives are consistent with the hospital’s mission.
17. Prepares detailed analyses of financial statements to reflect variances in income, expenditures, and capital asset values from previous periods.
18. Arranges for audits of hospital accounts and prepares required governmental reporting.
19. Establishes and communicates clear objectives and goals for all departments under supervision.
20. Directs personnel management activities of assigned areas and guides subordinate directors, managers, and supervisors in staff development.
21. Ensures development of subordinates and succession planning.
22. Participates in hospital-wide strategic planning activities.
23. Monitors and evaluates new or revised regulatory agency and industry laws, regulations, and standards.
24. Maintains compliance with regulations governing hospitals and the rules of accrediting bodies.
25. Works collaboratively with Human Resources to effectively administer labor proceedings.
26. Performs other duties as assigned.

Qualifications

EDUCATION/TRAINING/EXPERIENCE

1. Bachelors in a related field is required; Masters in Business Administration or closely related field required.
2. Knowledge of generally accepted Accounting Principles and Managed Care contracting.
3. A minimum of five years of progressive administrative experience in an acute care hospital setting overseeing multiple areas.
4. Minimum of ten (10) years’ experience in the healthcare industry.
5. Comprehensive knowledge of regulatory requirements affecting acute care hospitals.
6. Experience with accreditation/regulatory activities, performance improvement, core measures, and sentinel events requirements.
7. Proven track record of success as a CFO in an acute care hospital setting.
8. Five years in an executive level position required.
9. Excellent written/verbal communication and computer skills.
10. Experience in budget preparation/operation.

A combination of experience, education, and/or training which substantially demonstrates the following knowledge, skills, and abilities:

Compliance: Code of Conduct, Organization’s Policies and Procedures, Local, State, and Federal Regulations.