Chief Financial Officer

Company: GRHealth
Location: Augusta
Posted on: September 14, 2020

Job Description:

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Position Description

The Chief Financial Officer for AU Health System (the “Health System”) is responsible for directing the financial functions of the Health System in accordance with sound business principles, while also safeguarding the assets of the Health System and promoting a culture of strong internal control and accountability. Reporting Relationships:The Chief Financial Officer reports directly to the Chief Executive Officer of Augusta University Health System/EVP for Health Affairs of Augusta University with indirect accountabilities to the EVP for Finance/Chief Business Officer of Augusta University, the Dean of the Medical College of Georgia, and the CEO of Augusta University Medical Associates. Direct reports to the Chief Financial Officer are:• VP, Revenue Cycle• AVP, Finance/Controller• AVP, Operational Finance/Associate CFO• Director, Financial Planning & Analysis Principal Accountabilities: Management• Direct all Health System financial functions, strategic and operational, including treasury management, financing, investor relations, financial reporting, financial planning and analysis, revenue cycle operations, and managed care contracting.• Develop, manage, and lead an effective, responsive, best-practice financial organization with an open style of communication and an analytical approach to business issues. • Evaluate the Health System Finance and Revenue Cycle divisions’ structure and team and plan for continual improvement of the efficiency and effectiveness of the financial resources of the Health System.• Lead the development and implementation of financial reporting and analysis, ensuring that information is consistent for both reporting and decision making purposes. • Ensure complete and timely production of financial statements following Generally Accepted Accounting Principles (GAAP) in compliance with all regulatory requirements in order to meet both internal and external reporting requirements.• Develop, enhance, and implement financial systems that improve the overall operation and effectiveness of the Health System and serve as the foundation for organizational decision making.• Collaborate with the Chief Operating Officer to ensure the development of best practice Supply Chain processes.• Ensure the Health System has established and maintains a competitive, market-validated charge structure.• Develop optimal and compliant cost and reimbursement strategies for the Health System. • Ensure a culture of transparency, accountability, and teamwork.• In collaboration with the Audit Committees of the Health System, Medical Center, and Medical Associates and the Enterprise Chief Audit Officer, participate in the selection of the Health System, Medical Center, and Medical Associates external audit firm(s) and provide a point of coordination for the conduct of external audits. • Serve as Board liaison to the Finance Committee of the Board, and other committees as requested. • Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position; manage the investment program in collaboration with the Finance Committees of the Health System, Medical Center, and Medical Associates Boards.• Keep informed of the latest developments and assure compliance with accounting standards, legislative and regulatory requirements. • Establish best practice policies and procedures with systems of accountability to ensure complete and correctness within all areas of responsibility. Planning• Integrate the Health System budgeting with a thorough, well-conceived, annual budgeting process throughout the Health System, developed with full involvement of key stakeholders. • Provide strategic leadership relative to the methods and means to ensure the Health System’s long range financial plan is aligned with the Augusta University enterprise long range strategic plan.• Develop, modify, review, and manage preparation of on-going financial forecasts, monitoring and reporting performance against plan, analysis, and reporting of key performance indicators and benchmark data.• Prepare short term cash flow projections, taking into account near term cash needs of the Health System and ensure compliance with debt covenants regarding days cash on hand.• Evaluate environmental changes within the healthcare industry and translate to the financial implications to the Health System. • Collaborate with key stakeholders to minimize risk in planning appropriate responses to changes in reimbursement methods, new business models, labor shortages, and vendor action in order to ensure continued financial success of the Health System. Communication• Present clear and concise financial information to multiple AU Health System constituencies with varying levels of understanding of healthcare finance. • Develop, evaluate, monitor and communicate long and short range strategic objectives.• Establish relationships and strengthen communications within the community to improve the understanding of the Health System’s and Augusta University’s value and opportunity.• Communicate regularly with the EVP, Health Affairs/CEO, AU Health System and the EVP for Finance/Chief Business Officer about financial performance of the Health System and the implementation status of strategic financial initiatives and strategies.• Provide timely and accurate financial reports and analyses that will assist the President of Augusta University, the EVP, Health Affairs/CEO, AU Health System, EVP for Finance/CBO, Health System Board and Finance Committee, Medical Associates CEO, Department Chairs, Division Chiefs, Service Line Leaders, as well as front line unit leaders in managing their responsibilities.• Establishes effective working relationships with the Health System Finance Committee, management staff, medical staff, external auditors, counterparts in affiliated organizations, key vendors, key customers, as appropriate, and governmental regulators. Advisory• Serve as a collaborative member of the leadership team, providing pro-active and creative financial advice to Health System senior leadership. Provide the strategic and operational direction necessary to achieve financial performance targets, increase profitability, and strengthen the balance sheet.• Provides strategic financial input and leadership on decision-making issues affecting the organization; evaluate the impact of potential alliances, acquisitions and/or mergers.• Educate Department Chairs, Division Chiefs, Service Line Leaders, Service Line Administrators, and department managers on financial issues impacting their budgets.• Advise Health System and Enterprise Senior Leadership regarding funds flow between the University and Health System and amongst Health System entities.

Position Requirements

Master’s degree in Business Administration, Health Policy and Administration, Accounting, or related field supplemented by a minimum of ten years of financial management experience in health care, preferably within an Academic Medical Center.

Preferred Requirements

No Data

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.

Keywords: GRHealth, Augusta , Chief Financial Officer, Other , Augusta, Georgia