CFO MedStar Wash Hospital Center

4 weeks ago

Washington, Washington, D.C., United States MEDSTAR HEALTH Full time

General Summary of Position
The Chief Financial Officer (CFO) serves as the primary financial officer for the MedStar Washington Hospital Center and the MedStar Health Research Institute. Major responsibilities include developing and maintaining a strategic financial plan and annual operating and capital budgets; financial analysis of new programs, review of all financial reporting and analyses reports; decision support, review of patient revenue activities and oversight of the financial and government reporting compliance. Responsible for directing the fiscal functions of the MedStar Washington Hospital Center and the MedStar Health Research Institute in accordance with financial management techniques and practices appropriate within the healthcare industry in partnership with MedStar's Professional Support Services Center.

Primary Duties and Responsibilities

Develops and contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards and safety standards. Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings, serves on committees and represents the department and hospital/facility in community outreach efforts as appropriate.Performs monthly financial review and analysis of operating results for MWHC and MHRI. In conjunction with MedStar Professional Support Services Center (PSSC) coordinates the preparation of monthly financial analyses reports and variance analyses.Provides leadership in the development for the continuous evaluation of short and long-term strategic financial objectives for both organizations.Provides timely, accurate, and cutting-edge management reporting to line operating executives in collaboration with PSSC.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 to management and others.Helps coordinate revenue cycle initiatives in collaboration with PSSC.Serves as the liaison with the MedStar parent corporation, the PSSC and its subsidiaries (hospital and other MedStar entities) on financial related topics and issues.Consistently demonstrates support for compliance 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, MWHC, and MRI policies and procedures; and (c) reporting compliance concerns in an appropriate and timely manner.Develops, implements, and periodically updates a strategic financial plan.Works with PSSC on Federal and Commercial Grants and Contracts Post Award accounting and reporting. Reviews annual costs reports and coordinates activities related to Medicare and Federal Indirect Cost Proposals.Oversees the coordination and activities of independent auditors associated with all A-133 audits.Directs the preparation of financial projections for new projects, major capital expenditures or proposed changes in operations.Collaborates with financial executives at corporate headquarters to prepare and update the long-range financial forecast of the hospital, its outpatient network and the research institute.Interprets current financial trends and respond with appropriate action for both enterprises.Develops, in conjunction with PSSC, and manages MWHC and MHRI key financial performance indicators and works with entity management in improving financial results using such indicators.

Minimum Qualifications
Education

  • Bachelor's degree in Finance/Accounting required
  • Master's degree preferred

Experience

  • Minimum of 15 years of progressive financial career track record in large tertiary or academic medical centers required.
  • Successful experience in complex integrated healthcare system is required.
  • Demonstrated experience in a key financial leadership position is required.
  • Must have experience overseeing federal research grants and required financial accounting.

Licenses and Certifications

  • Certified Public Accountant (CPA) upon hire preferred

Knowledge, Skills, and Abilities

  • Verbal and written communication skills.
  • Basic computer skills required.

This position has a hiring range of $302,200 -
$408,800

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