Job purpose Reporting to the Chief Executive Officer, the Vice President of Finance is responsible for the overall administration of internal accounting and strategic overview of the financial management of the Health Center. Duties and responsibilities The Vice President serves as a part of the leadership team and reports directly to the Chief Executive Officer. This position is responsible for the overall financial management of the organization and building the staffing and system infrastructure for long term sustainability for revenue cycle and finance departments. In addition to planning, budgeting and forecasting the financial results, the incumbent is expected to lead keen financial and business oversight to the organization. This person will be expected to quickly earn the respect of the teams as a proactive leader, team player, and trusted partner. In order to optimize results, this individual will be expected to bring a broad understanding of finance and have the ability to convert the complex into layman's terms with the ability to see the operational implications of financial results and analysis. Typical duties include:
Setting strategic growth objectives such as evaluating and advising the organizations leadership on strategic priorities to ensure the financial stability of the organization and that the delivery of healthcare service programs; keeping abreast of changes in the economic environment and informing leadership and Board members of new developments; analyzing changes in services across all facets of the organization, working with leaders to strategize and position their programs; building relationships with key professionals.
Participates as a member of the Health Centers management team in strategic planning and organizing agency-wide initiatives and projects
Directs and oversees all aspects of the Finance & Accounting functions of Fair Haven including accounts payable, accounts receivable, payroll, and coordinates with other departments as necessary
Oversees the maintenance of accurate accounting procedures and records regarding cash receipts, cash disbursements, general ledger, accounts payable, accounts receivable, and bank reconciliations
Prepares and submits external reports including Cost Reports and any other financial reports; delivers periodic financial reporting to and training of Board
Develops and monitors productivity in all departments. Evaluates monthly financial and productivity statistics and identifies trends for leadership review
Working with the Vice President of Business Development, evaluate new business opportunities
Analyze and interpret financial data and recommend changes to improve financial performance; support department heads and business owners with financial analysis and business decisions.
Manage the development, preparation and review of the long-range plan and the annual budget including coordination with department heads to obtain and validate assumptions.
Ensure that department and location spending is in compliance with budget; implement cost containment strategies when necessary and report variances; implement quality control procedures and continuously look to improve business processes.
Remain current with technology to ensure that the data and reports are being compiled in the most efficient and cost effective manner
Collaboratively hire, train, manage and build a well-trained, efficient, competent and committed finance department
Oversees the monthly tracking and reconciling general ledger accounts; reconciling bank accounts; monitoring and reinvesting investments; monitoring aging on a monthly basis; and all other accounting activity.
Oversees the monitoring of cash on a daily basis; transferring funds between accounts as necessary to meet payroll and accounts payable expenses; coding direct deposits on a monthly basis; and maintaining adequate resources to meet financial needs
Maintains appropriate data for audits and analysis of agency operations; oversees all preparations for financial audits. Works closely with auditors
Implements systems and procedures for internal auditing of the agency finances and operations, and coordinates activities relating to external audits.
Interprets contractual policies and recommends revision of agency and financial policies to assure agency is operating within contract requirements
Develops and revises financial policies and procedures according to generally accepted accounting principles, and other funding and regulatory requirements