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VP of Finance

Company: Healthcare/Hospitals/Clinics, Springfield, MA
Location: Springfield
Posted on: April 16, 2019

Job Description:

Position Purpose:

Consistent with Company Of New England’s Mission, Core Values, and Finance Vision of Excellence, the VP Finance's role is to support the President and the TH Of NE-Mercy Senior Management Team as a Strategic Ministry Partner and as a collaborative member of the senior team. The VP Finance successfully supports the Mission-Based Strategic Plan with business and financial planning, along with financial operational support. Acts as the leader accountable for the achievement of excellence in all financial and accounting processes, supporting the goal of achieving excellence in financial services throughout Company and TH Of NE.

An integral member of the TH Of NE-Mercy Senior Leadership Team, reports to the President of Mercy Medical Center and its affiliates and to the TH Of NE Chief Financial Officer and is responsible for organizing, planning, directing and evaluating the financial functions of Mercy Medical Center and its affiliates. Works through subordinate managers, providing administrative oversight and direction to the following finance functions: Budget and Reimbursement, Patient Ac¬counts, Financial Management, Accounting, and Managed Care Contracting. Approves budgets, financial goals, and objectives, establishes procedures for achieving goals and objectives, and monitors adherence to same.

Key Accountabilities of the Chief Finance Executive - Responsible for directing formulation and implementation of overall finance related policies and objectives for the Springfield region. Formulates and approves short- and long-term goals, objec¬tives, plans, and budgets for areas of responsibility. Directs and monitors performance of subordinate functions, initiating corrective action as necessary, including the: Development and administration of budget process, ensuring an acceptable annual budget is developed and approved by Mercy Medical Center's Board of Trustees and Company on a timely basis; Recording and controlling of accounting transactions, including audit functions. Ensures accounting systems safeguard assets, provide viable management information and are in accordance with generally accepted accounting and audit princi¬ples; Maintenance of data and reporting costs to third party payors for effective reimbursement of incurred costs in providing patient care services; Processing of patient accounts records, including the management of receivables in order to provide a predictable cash flow; Responsible for ensuring all financial practices are in compliance with applicable government and other regulatory agency requirements. Acts as Mercy Medical Center and its affiliate's representative to various financial organi-zations and may directly negotiate major financial transac¬tions. Reports financial condition of the Mercy Medical Center and its affiliates to senior management, Board of Trustees and to Company, and directs preparation of various reports which summarize financial condition to interested parties and agencies. Serves as resource person and consultant to other senior management personnel on finance-related problems and operational initiatives. Selects, directs, promotes the development of and evaluates the performance of managers and directors. Assists subordinates with difficult colleague relations problems. Serves as a role model for leadership staff throughout Mercy Medical Center and its affiliates. Participates as a member of senior management and a variety of committees. In doing so, engages in the following activities: Participates in development of organizational-wide goals and plans as well as a wide variety of TH Of NE and Company operating policies; and Continually reviews and appraises changes in Mercy's short- and long-term goals and objectives. Works with Senior Leadership to ensure financial resources are available to support such changes. Is active in and represents Mercy Medical Center and its affiliates in a variety of community activi¬ties such as the Chamber of Commerce and other business groups and participates in advocacy events with local community leaders. Company and Company Of New England Dual Accountabilities: Responsible for the development of the strategic financial plan for the Springfield region, including analysis and capital planning to ensure the financial viability of the local health ministry within the context of the TH Of NE Mission-Based Strategic Plan. Responsible for the development of the Springfield region’s operational and capital budgets aligned with the TH Of NE strategic financial plan and consistent with Company’s guidelines, policy and process. Oversees all of the Springfield region's financial management and reporting, utilizing Company standardized policies and processes within established service levels. Plans and coordinates the Springfield region's audits, internal and external, in compliance with established Company's policies and standards, and GAAP. Oversees the standardization and integration of financial information systems consistent with Company guidelines. Oversees the internal control environment consistent with Company guidelines, policy and process. Organizes and successfully conducts the execution of the Springfield region's integrated process improvement work plans (e.g., revenue management) and consistently achieves work plan KPIs. Actively participates in Company Finance Council and other collaborative efforts to achieve maximum value of financial services for the Springfield region in accordance with the Finance Vision recommendations and/or other Company strategic and tactical initiatives. Responsible for oversight and direction of revenue-cycle activities that achieve targeted standards and performance measures. Key Accountabilities on The Senior Leadership Team: Collaborates with the President and the Springfield region's senior leadership team on integration of mission, vision, and values throughout the organization to advance person-centered care. Collaborates with Human Resources to ensure mission integrity in recruitment and selection criteria, performance appraisals, wage and salary programs, diversity initiatives, colleague assistance programs, organizational restructuring, and HR policies and procedures. Collaborates with appropriate executive leaders in leadership selection and development. Participates in organizational strategic planning, budget, capital management, and operations review processes. Incorporates and develops the mission and values in orientation programs for trustees, management, colleagues, physicians, students, volunteers and auxiliary members as well as patients, families and visitors. Participates in the development of marketing and public relations documents and activities in order to ensure communication and integration of mission and values. Collaborates with appropriate organizational personnel (Human Resources, Education, Quality, etc.) in coordinating leadership development programs and processes. Provides ethical resources and direction in working with partnerships and joint operating agreements. Collaborates with the President in fostering communication and collaborative relationships with the community, the diocese and the Sisters of Providence. Collaborates with the associated Company Vice President to enhance system-wide understanding, integration and commitment to mission, core values and culture. REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES: 1) Work requires the knowledge of theories, principles, and concepts normally acquired through completion of a Master's degree in Accounting, Finance, Business Administration, or closely related field and ten to twelve years of previous and progressively more responsible work related experience plus six to twelve months of on-the-job training and orientation 2) No certification, registration, or licensure required although a CPA is desirable. 3) Work requires the analytical ability to resolve scientific, clinical, human resources, legal, financial, or administrative problems that require the innovative application of the highest levels of specialized knowledge and/or develop financial and operating plans for a major division within the Hospital. 4) Work requires the ability to manage the colleagues within assigned department and to persuade and negotiate with peer level department heads on issues and programs that impact assigned department. Incumbents also persuade and negotiate with members of the Executive Team.

Keywords: Healthcare/Hospitals/Clinics, Springfield, MA, Springfield , VP of Finance, Accounting, Auditing , Springfield, Massachusetts

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