Chief Financial Officer

2 weeks ago

Chicago, United States Norwegian American Hospital Full time

The Chief Financial Officer (CFO) provides leadership to the activities of the Finance Division for Humboldt Park Health and its affiliate entities. As a member of the Executive Team, the CFO participates in formulating hospital policy, in setting management objectives, in developing and evaluating programs and services, and in contributing to the development and implementation of the Hospital’s strategic plans. Responsible for the operation of Fiscal Services, Patient Financial Services and Medical Records.

Essential Duties and Responsibilities:

  • Develops, interprets, coordinates and administers the institution’s policies on finance, accounting, insurance, patient billing, internal controls and auditing.
  • Reviews, interprets, analyzes and communicates financial information to administration and the Board of Trustees through the Finance Committee of the Board.
  • Establishes a plan of control by means of a formal budget program, providing a standard of measurement so that actual performance can be evaluated.
  • Evaluates and recommends changes in the institution’s rate structure.
  • Establishes the hospital’s goals and objectives consistent with the hospital’s strategic plans and in accordance with the mission philosophy of Humboldt Park Health.
  • Invests the hospital’s funds in appropriate investments.
  • Oversees the coordination of reimbursement, budget, patient accounting, and general accounting.
  • Prepares periodic reports outlining the financial position in all areas of assets, liabilities, income, and expense based on past, present, and planned future operations for the hospital and its affiliate corporations.
  • Reviews and modifies cost systems and data collection to maximize cost reimbursement for patient services.
  • Prepares and ensures timely filing of Federal, State, hospital association, third party, real estate tax exempt forms, etc.
  • Provides for current and adequate insurance to protect the hospital from liability and other losses.
  • Determines cost impact of personnel policies and programs, such as employee benefit additions or changes, general salary increases, etc.
  • Hires and regularly evaluates department directors in areas of responsibility.
  • Maintains management succession plan within the division.
  • Participates in the Risk Management program of the hospital.
  • Integrates financial services into the hospitals primary functions.
  • Coordinates and integrates interdepartmental and intradepartmental services.
  • Develops and implements policies and procedures that guide and support the provision of financial services.
  • Continuously assesses and improves the performance of services provided.
  • Maintains quality control programs, as appropriate.
  • Orientates and provides in-service training and continuing education of all staff in the department.
  • Participates in the selection of sources for needed services not provided by the department or the hospital.
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