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VP Fin Ops and Corp Finance

Company: Beaumont Health
Location: Southfield
Posted on: February 23, 2021

Job Description:

Our apply process has changed. Please click here for instructions. Reporting to the Beaumont CFO, the Vice President, Financial Operations & Corporate Finance is responsible for developing and administering an integrated plan for financial control for the Corporate Division of Beaumont Health. Coordinates the financial plan with corporate objectives and requirements; reports the financial condition of the Corporate Divisions to the CFO . The focus of the position is improved financial performance in terms of responsivenes s , streamlining of operations and enhanced communication of the ongoing financial performance organizationally and for individual business units. Responsible for system budgeting, financial analysis, COE/CIC financial support, decision support & cost reporting, capital, net revenue recognition, bad debt accounting, and accounts payable. ESSENTIAL DUTIES:

  • Manages 45 FTEs comprised of Sr Director, Directors, Managers, and front-line staff within Reimbursement, Budget and Analysis, Govt Reimbursement, Capital Planning, Cost Accounting and Accounts Payable.
  • Plan, develop, organize, implement, direct and evaluate the Corporate Division's financial performance.
  • Responsible for development of an organizational wide cost reporting system.
  • Manages net revenue recognition of $4 billion annually.
  • Evaluates bad debt and charity models and manages team to assess and recognize bad debt each month.
  • Responsible for all accounts payable functions.
  • Manages capital process and accounting including the capital budgeting and approval process.
  • Participate in the development of the Division's plans and programs as a strategic partner.
  • Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory action.
  • Develop credibility for the Division by providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the Division in its managerial responsibilities.
  • Develop and advise on cost and reimbursement strategies.
  • Enhance and/or develop, implement and enforce policies and procedures of the Corporate Division by way of systems that will improve the overall operation and effectiveness of the Divisio n .
  • Establish credibility throughout the Division and with the system as an effective developer of solutions to business challenges.
  • Provide technical financial advice and knowledge to Divisional leadership.
  • Continual improvement of the budgeting process through education of Corporate Division leaders on financial issues affecting budgets.
  • Provide strategic financial input and leadership on decision-making issues affecting the Division.
  • Be an advisor from the financial perspective on any contracts into which the Division may enter.
  • Respond to the Chief Financial Officer as assigned with accurate and timely work.
  • Act as strategic partner to business partners.
  • Prepare reports that summarize and forecast Division's business activity and financial position in areas of incom e , expenses and earnings based on past, present and expected operations.
  • Guides financial decisions by establishing, monitoring and enforcing policies and procedures.
  • Provides status of financial condition of the Division by interpreting and reporting key financial data.
  • Ensures compliance with federal, state and local legal requirements.
  • Developing schedules, procedures and systems to enable the timely and informative accumulation, adjustment and reporting of financial data.
  • Develops financial strategies by forecasting capital, facilities and staff requirements; identifying monetary resources; developing action plans.
  • Monitors financial performance by measuring and analyzing results; initiating corrective actions; minimizing the impact of variance s .
  • Present summarized and detailed financial statements to the Chief Financial Officer , Beaumont Health leadership and Board of Directors of Beaumont Health as requested.
  • Responsible for interfacing with third party auditors.
  • Responsible for helping shape the strategic direction and operational goals for the Division.
  • Responsible for financial management of the Division, including development of a financial strategy that supports the Beaumont Health vision and strategic imperatives.
  • Assist in the development of financial goals and objectives for the Division and health system.
  • Manage the basic system of accounting and financial contro l .
  • Responsible for maintaining budgetary control. This document represents the major duties, responsibilities, and authorities of this job, and is not intended to be a complete list of all tasks and functions. It should be understood, therefore, that incumbents may be asked to perform job-related duties beyond those explicitly described. STANDARD QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties.
    • Education / Training: Bachelor's degree in Accounting, Finance, Business or Healthcare Administration. Master's degree in Accounting, Finance, Business or Healthcare Administration preferred.
    • Work Experience : Ten (10 years progressive healthcare, insurance or health maintenance organization industry experience).
    • Certification, Licensure, Registration : Certified Public Accountant (CPA) or Certified Management Accountant (CMA) preferred.
    • Other Qualifications :
    • Excellent communication and interpersonal skills with the ability to engender the trust of those with whom one works.
    • Demonstrated Knowledge and understanding of the health care industry.
    • Well organized; able to manage and prioritize changing workloads and meet deadlines.
    • Team player and leader who cultivates talent and encourages excellence.

Keywords: Beaumont Health, Springfield , VP Fin Ops and Corp Finance, Accounting, Auditing , Southfield, Massachusetts

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