Vice President of Finance | CPA Required | Exclusive Executive Search | Healthcare | Maine
Are you ready to take a key leadership role in this revitalized and expanding healthcare system? Under new, high accountability leadership, this organization is experiencing a resurgence and rapidly gaining market share.
This position affords a unique opportunity to brand and build your team to support financial initiatives across the system.
The Vice President of Finance reports to a collaborative CFO seeking a strategic partner and a tactical ally. Both the C-Suite and CFO are jointly aligned in their strategic mission. As for management style, the CFO is known for providing the support, autonomy, and resources required to get the job done.
Overview: $800 Million Annual Revenue | 3 Hospital System | 75+ Multi-Specialty Clinics
The selected candidate will bring a high-level insight and perspective to analyze and interpret the financial results and make appropriate recommendations. The VP oversees a department of approximately 40 FTEs, including four direct reports and their staff.
Key Responsibilities and Duties:
• Accounting, tax, treasury with oversight of day-to-day banking and cash management activities, reimbursement and financial regulatory issues, endowment processes, and maintenance of a robust internal control environment. The role interfaces with multiple departments and functions within the institution
• A performance system that is fair and equitable, resulting in a culture of high performance and excellence
• Contributing member to senior leadership within the Finance Department working closely with other team members to help implement and continuously improve the Health systems’ financial strategy
• Developing and managing strong relationships both inside and outside the department
• Advocating for the department/function and working collaboratively with colleagues and other members of the institution
• System-wide quality and improvement initiatives
• Providing leadership and direction for the financial reporting, financial controls, and treasury functions; establishing strong working relationships with financial administration and colleagues and critical personnel of interfacing departments and other Hospital departments and staff
• Developing an extensive understanding of both the overall institution and the Finance Department’s priorities and critical initiatives. Creating goals and work plans for the overall function aligned with those of the institution and department
• Overseeing financial reporting for the health system, its subsidiaries, and affiliates; provide new insight and perspective on the analysis of financial statements and interpretation of results; communicate this information to senior financial leadership and others, as required
• Measuring and analyzing critical indicators, benchmarks, and financial covenants, and communicate results to senior management
• Providing leadership on FASB/GAAP and other technical matters related to reporting standards; ensure compliance with all applicable laws and organizational requirements; recommend and implement policies/procedures based on new standards and best practices
• Working with the Revenue Cycle function to evaluate reserves and appropriate recording of revenue and accounts receivable
• Managing the external auditors and coordinating the entire auditing process for the financial statements, A-133 audit, college of nursing, and the retirement-plan audits
• Helping coordinate, with the Internal Audit Department, all applicable audits; implementing recommendations to streamline and improve controls
• Directing accounting and reporting processes for endowments, specific purpose funds, and investments; coordinate with outside investment consultant and make sound recommendations to financial/executive leadership based on rigorous accounting and investment analysis
• Supervising day-to-day banking and cash management activities
• Responsible for all tax-related issues, e.g., 990s, Excise Tax 720, Sales Tax, Tax Forms related to the Hospital’s investments, etc.
• Partnering with the Financial Planning and Analysis Department by leading the preparation of the annual and long-range operating plans for the health system and its affiliates
• Managing all projects using a systematic approach that incorporates change management and quality principles and translates plans into deliverables, with measurable outcomes, on a timely and cost-effective basis
• Working with HR on benefit accounting, modeling, and creating appropriate controls; working with external actuaries on pension modeling and accounting
• Successfully managing department/function performance, as measured by specific performance indicators for financial reporting and treasury
• Ensuring the accuracy and timeliness of work deliverables
• Collaborating with directors and their staff to resolve issues and improve processes and efficiencies on a timely basis
• Managing and developing the department’s personnel; building and sustaining a competent and engaged team empowered to carry out its responsibilities while fostering a team-centered culture that is wholly consistent with that of the Hospital
• Participating in significant improvement initiatives and help direct transformational change at the health system as a leader, partner, and team member who provides support and assistance, as required
• Certified Public Accountant (CPA) required
• Minimum 7 - 10 years’ of current/comparable executive-level managerial leadership experience
• Strong technical expertise in FASB/GAAP and associated technical issues, highly analytical, capable of providing strategic analysis and insight on financial reporting, revenue cycle, and treasury. Awareness of continuing changes that affect financial reporting. Ability to counsel and advise system leadership on a range of related matter
• Proven financial success in managing a complex/multi-site healthcare environment
• Strong technical and analytical skills, and adept at communicating ideas and facts, packaging information and concepts to increase understanding by others
• Breadth and depth of healthcare experience required, including in-depth knowledge of Hospital accounting and reporting requirements; Hospital expense management; awareness of continuing changes that affect financial reporting
• Big four accounting experience (manager or senior manager level) and not-for-profit expertise are highly desirable
• Ability to coach, mentor, and build capabilities of team members
• Experience in leading and achieving results in a matrixed environment, with the capability to resolve issues through innovative problem solving and solution development
• Outstanding communication skills; good listening capability; skilled at influencing a variety of people
• Well organized and disciplined, with the ability to manage multiple and changing priorities efficiently
• Excellent project management capability; can structure and lead business initiatives and achieve quality results on a timely basis
• Technology and system savvy with an excellent understanding of processes, systems, and databases. Knows how to use them efficiently and effectively
• Projects competence, credibility, and professionalism
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