Vice President, Finance & Chief Financial Officer
- Job Summary
Throughout our history, our mission has been to serve the community as a regional and national leader in rehabilitation services through five major areas:
- Quality patient care in inpatient, outpatient and day treatment programs.
- Rehabilitation research to advance the methods of rehabilitative care.
- Education and training of rehabilitation professionals and the community.
- Assistive technology that helps persons with disabilities live productive lives.
- Advocacy by working with the disabled community to assertively convey their needs to policymakers at the local, state and national levels. When you choose MedStar National Rehabilitation Network as your career destination, you'll become part of a dynamic group of professionals who are committed to providing the very best rehabilitative care to children, adolescents and adults with disabilities. As a member of our team, you'll help us fulfill our mission of "Adding life to years®", enhancing patients' quality of life so they can achieve the highest possible level of independence and function. And, just as we add life to our patients' future years, we'll do the same for your career, offering you a great place to work and a great place to grow.
The Vice President of Finance & CFO serves as the primary financial officer for the MedStar National Rehabilitation Network (MNRN). As a key member of the Senior Management Team, the VP & CFO will have responsibilities that include developing and maintaining a strategic financial plan, annual operating and capital budgets, financial analysis of new programs, review of all financial reporting and analyses reports, and decision support. The CFO is also responsible for directing the fiscal functions of MNRN in accordance with financial management techniques, practices, and policies appropriate within the healthcare industry in partnership with MedStar's Professional Support Services Center and MedStar Corporate Office. This individual also has overall administrative responsibility and accountability for the management and direction of the operational, personnel and financial activities of MNRN's Finance Division.
Other duties and responsibilities are assumed that are appropriate to the position and area. Responsibilities identified are a general description of the level and nature of the work assigned to this position and are not to be considered as all-inclusive.
- Minimum Qualifications
- An undergraduate degree in finance or accounting. MBA preferred.
- 10+ years' progressive financial career track record in healthcare.
- Experience as a CFO, Vice President or number "two" financial executive role is required.
- Certified Public Accounting certification required.
- Successful experience and ability to work in a fast-paced, complex, integrated healthcare environment.
- High energy, team-oriented, forward thinking financial executive who is committed to excellence. This position requires someone who has an assertive, pro-active personality and engaging management style.
- Excellent leadership skills.
- Ability to influence and engage leaders of all levels, direct and indirect reports and peers.
- Strong team builder with a performance improvement mindset and mentoring skills; must be willing to do detail work, as well as supervise and coordinate work with others.
- Proven hands-on financial, strategic, and operational planning, budgeting, decision support, and revenue development.
- Knowledge and experience with physician practice finances, including physician compensation models, revenue management and expense management.
- Excellent oral, written, and interpersonal communication skills.
- Ability to resolve issues quickly and make decision that meet MedStar's objectives.
- Primary Duties and Responsibilities
- Serves as a key member of the Senior Management Team of MedStar Health and MNRN.
- Performs monthly financial review and analysis of operating results for MNRN. In conjunction with MedStar Professional Support Services Center (PSSC) and Corporate Office coordinates the preparation of monthly financial analyses reports and variance analyses.
- Provides leadership in the development and the continuous evaluation of short- and long-term strategic financial objectives for MNRN.
- Performs personnel management functions to include, but not limited to, interviewing, hiring, scheduling, coaching, counseling, evaluating and terminating employees. This would also include succession planning for key positions.
- Ensures credibility of the entity Finance department by providing timely and accurate analysis of financial data, reports, and trends on a routine basis and as requested by management and others.
- Provides timely, accurate, and cutting-edge management reporting to line operating executives in collaboration with PSSC and Corporate.
- Provides focused communications with the physicians, conveying the results of operations and the key drivers regarding those results, including staffing models of each location.
- In collaboration with VP, Medical Affairs/CMO will develop and provide routine dashboard reporting, monthly financial reviews, and lead quarterly compensation discussions with physicians to ensure productivity standards are being met.
- Helps coordinate revenue cycle initiatives in collaboration with PSSC.
- Ensures proper fiscal control over MNRN's interest in all joint venture operations and oversees the financial management of those where MNRN is the managing partner.
- Serves as the liaison with the MedStar parent corporation and other MedStar entities on financial related topics and issues.
- Consistently demonstrates support for compliance and professional ethics in the performance of job duties and responsibilities by: (a) developing and maintaining knowledge of, and performing job functions in compliance with, rules, regulations, policies, and statutes that affect his/her job; (b) maintaining knowledge of and performing job functions in compliance with MedStar Health and MNRN policies and procedures; and (c) reporting compliance concerns in an appropriate and timely manner.
- Develops, implements, and periodically updates a strategic financial plan.
- Directs the preparation of financial projections for new projects, major capital expenditures or proposed changes in operations.
- Collaborates with financial executives at Corporate to prepare and update the long-range financial forecast and annual budget of the hospital and the outpatient networks.
- Directs the preparation of statistical and cost accounting data in collaboration with PSSC and Corporate and utilizes data to evaluate financial performance and support management decisions.
- Interprets current financial trends and responds with appropriate action for both enterprises.
- Develops, in conjunctoin with PSSC, and manages MNRN key financial performance indicators and works with entity management in improving financial results using such indicators.
About MedStar Health
MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation and research. Our 30,000 associates and 5,400 affiliated physicians work in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest visiting nurse association in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar is dedicated not only to teaching the next generation of doctors, but also to the continuing education and professional development of our whole team. MedStar Health offers diverse opportunities for career advancement and personal fulfillment.
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