Job Description
The Senior Vice President & Chief Financial Officer (CFO) advises the President & CEO, Board of Directors (Board), and senior leadership team on all matters related to Baptist Health Care's (BHC) financial health. The position is responsible for planning, organizing, and directing financial activities across the health care system and providing strategic direction to and oversight of the division. This position provides thought leadership with the executive team and throughout the organization regarding financial strategic development and the development of systems to drive financial results across the enterprise. Ultimately, the CFO is responsible for the system's financial goals, annual operating and capital budgets, financial forecasts, financial reporting, payor contracting, revenue cycle management and Information Technology (IT). The position also plays a key leadership role during acquisitions and large investment decisions.
Position Summary
The SVP/CFO will hold overall fiduciary responsibility, strategic leadership, and operational management for financial services to assure the long-term success of Baptist Health Care. Leading the strategic development, activation, alignment and monitoring of the system financial plan, the VP/CFO will provide a financial perspective on innovation, cost management and profitable growth. This leader will focus on improving the system's balance sheet, cash management and revenue cycle performance. This position provides thought leadership with the executive team and throughout the organization regarding financial strategic development and the development of systems to drive financial results across the enterprise.
Responsibilities
- Serves as a key advisor to the President & CEO and BHC leadership team regarding system strategy of all financial and business matters.
- Leads all traditional finance functions for BHC at a best-in-class standard to include financial accounting and reporting, cost accounting and financial decision support, budgeting, tax reporting, managed care finance, Medicare cost reporting purchasing and supply chain management, accounts payable, payroll, treasury, payer contracting, governmental reimbursement, patient financial services (including revenue cycle management, charge description master, rate realization, billing and receivables and administration of charity care policies, claims processing).
- Oversees entire organization's fiscal operating results, financial reports, and statements, and administration of its accounting practices and systems.
- Reports monthly financial performance to the Board and serves as an administrative liaison to the Board's governance and finance committee.
- Develops and implements multi-year business planning model, ensuring that the planning process is a rigorous and reliable vehicle for decision making, operations, and strategic planning.
- Manages the selection and execution of the large portfolio of capital projects and investments and provides direction of the investment strategy and monitoring of all corporate funds and pension funds.
- Designs and maintains revenue integrity including, but not limited to the collection of all revenue expected within contracts and assurance of revenue cycle compliance.
- Provides both strategic and tactical direction on managed care contracting strategy, anticipating changing payor trends, maintaining external relationships, and protecting BHC's privileged market position and pricing as much as the market will allow.
- Manages the system migration toward prudent assumption of additional risk and sustainable arrangements for value-based care contracting.
- Responsible for oversite of Information Technology (IT).
- Fosters communication throughout the Finance and IT division though various channels including Team Member Forums, including collaboration with External Relations and the Communications team.
- Maintains strong collaborative relationships with senior executive council.
The successful SVP/CFO candidate will:
- Know, understand, incorporate and demonstrate the mission, vision and values of Baptist Health Care in leadership behaviors, practices and decisions.
- Serve as an active member of Senior Executive Council responsible for engaged participation and agenda items related to financial strategy and systems to improve financial outcomes. Supports the work of the Finance, Investment, Audit and Compliance Committees. Work with the chair of each committee to establish agendas and provide information needed to meet their fiduciary and strategic responsibilities.
- Plays an instrumental role in continuing to improve Baptist Health Care's operating and financial performance. Works closely with the Chief Operating Officer to develop, deploy and oversee key initiatives that ensure the continued success of the organization.
- Oversee the managed care and payor strategy. Monitor and share results and understands the unique needs of the markets, including innovations to payor strategies. Design and maintain revenue integrity including, but not limited to the collection of all revenue expected within our contracts and assurance of revenue cycle compliance.
- Serve as trusted advisor to the CEO and other key senior leaders, providing leadership insight, performance management and strategic guidance for the activities of reporting departments to include financial accounting and reporting, cost accounting and financial decision support, budgeting, tax reporting, managed care finance, purchasing and supply chain management, accounts payable, payroll, treasury, payer contracting, government reimbursement and revenue cycle management.
- Be responsible for the external and internal financial reporting, including audited financial statements, financial regulatory filings, Medicare cost reports, tax compliance, and Bond Covenant reporting.
- Establish strong relationships with key senior leaders based upon mutual trust, open and honest communication, accurate and timely results and integrity. Provide leadership and guidance to the finance team and be a key team member of the corporate finance team that optimizes its performance, standardizes and modernizes processes to achieve desired results. Continue to promote employee engagement and professional growth, building culture on the commitment of ensuring a strong and diverse workforce. Lead by example and build organizational strength in implementation and execution on goals and projects.
- Set short and long-term cost structure targets; oversee system cash and asset management and investment allocation. Work with the rating agencies to assure communication regarding the performance of Baptist Health Care is accurately represented. Evaluate the economic and social forces and government influences, and their effects upon the organization's financial health. Review and approve key finance outputs (e.g. period end financial statements, long range plan, capital plan, operating budget, forecast).
- Ensure that all accounting operations are in compliance with all accounting standards and regulatory requirements. Develop and maintain system-wide financial policies. Determine tax and audit strategy. Provide strategic thought leadership for affordability. Develop and maintain financial reporting systems to meet the organization's needs that are consistent with system and regulatory guidelines and expectations and associated with general accounting, budgeting, patient accounting, cost accounting, financial reporting, control and monitoring of financial functions for operating entities. Provide comprehensive analysis and trends to support decisions.
- Develop Financial Team - Responsible for Team Member development, including building strong teams and effective, detailed succession planning.
Qualifications
Experience and Education
- 10+ years of experience in health care financial management experience required. Not-for-profit health care system and multi facility experience preferred.
- Bachelor's degree in accounting, finance, or other related field required. Master's degree in accounting, finance, or other related field preferred.
- Certified Public Accountant (CPA) preferred.
Role Location
- This role will be located in Pensacola, Florida.
About Us
Baptist Health Care is a not-for-profit health care system committed to improving the quality of life for people and communities in northwest Florida and south Alabama. The organization includes three hospitals, four medical parks, Andrews Institute for Orthopaedic & Sports Medicine, and an extensive primary and specialty care provider network. With more than 4,000 team members, Baptist Health Care is one of the largest non-governmental employers in northwest Florida.
Baptist Health Care, Inc. is an Equal Opportunity Employer. BHC maintains and enforces a policy that prohibits discrimination against any workforce members or applicants for employment because of sex, race, age, color, disability, marital status, national origin, religion, genetic information, or other category protected by federal, state or local law.
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Baptist Health Care
Nov 24, 2024