Director of Finance, SEMC

2 days ago

Boston, United States Boston Medical Center Full time

The Director of Finance, serving as a member of the Finance Leadership team, will work with SEMC ("Hospital") leadership and BMCHS Finance in a highly collaborative environment on key financial and operational matters, special initiatives, and participating in Hospital and System strategy development, planning, and decision-making. The Director will develop and execute both short and long-term financial management plans/strategies which will enable the organization to maximize the potential of its financial resources to meet changes in healthcare economics and achieve organizational objectives. Working in conjunction with both the Hospital leadership and BMCHS Finance/Accounting leaders, the Director will provide strategic and operational leadership and direction of the financial management, budgeting, and forecasting of the Hospital.

ESSENTIAL RESPONSIBILITIES / DUTIES:

  1. Lead the development and consolidation of financial projections across all service lines for the annual fiscal year budget, vetting all typical P&L line assumptions, incorporating any cost savings initiatives, and possessing a clear understanding of all potential upside and downside variables, and analyzing likely range of outcomes and associated impact to operating income before and after risk sharing arrangements.
  2. Direct development of presentations summarizing the drivers of monthly Hospital variance between actual, budget and forecast results that are appropriate for various audiences ranging from the Senior Leadership, Finance Committee and Board(s).
  3. Developing annual / rolling forecasts summarizing key variances to budget along with risks / opportunities for senior leaders to act upon.
  4. Leading annual development and communication of the Hospital long range forecast, looking out 3-5 years beyond the current fiscal year, incorporating strategic growth initiatives identified by leadership and coordinated with the Strategy team.
  5. Provide leadership in the reshaping of financial reporting and analytic processes of the Hospital. Providing key leadership and guidance around data governance and best practices.
  6. Collaborates with BMCHS workforce management and productivity teams and systems to effectively manage labor resources of the Hospital and foster a culture of cost management.
  7. Collaborates with BMCHS decision guidance functions and the delivery of service line and strategic planning insights to support Operations and Management.
  8. Lead performance improvement efforts focused on strategic initiatives, process improvement and business planning development.
  9. Creates a customer service focused culture within the teams that encourages partnerships with operations staff (and is non-intimidating to non-finance managers); responds to requests for financial analysis in a timely and accurate manner.
  10. Provide financial leadership and support to union labor negotiations and non-union compensation planning by forecasting expense implications of potential wage/benefit increase scenarios.
  11. Coordinate significant portion of Hospital's internal and external surveys and financial and statistical reporting (BOTHFO, AAMC, MHA, CHIA, etc.).
  12. Ability and willingness to represent Hospital Finance leadership on various committees and forums as needed.

JOB REQUIREMENTS

EDUCATION:

  • Bachelor's degree (major in Finance, Accounting Economics), or equivalent combination of education and experience in Finance, required.

CERTIFICATES, LICENSES, REGISTRATIONS REQUIRED:

  • None required.
  • Certified Healthcare Financial Professional (CHFP) through the Healthcare Financial Management Association (HFMA) a plus.

EXPERIENCE:

  • A minimum of 7 years finance experience within healthcare provider organizations required.
  • A minimum of 3 years of experience supervising staff, either directly or in a leadership capacity required. Must have demonstrated increasing leadership responsibilities.
  • Proficiency in written communication and delivering of executive level presentation.
  • Proficiency in Microsoft Office suite (Excel, Word, Access, Outlook) required with Advanced Excel and presentation building skills and experience in building financial models and clear, concise presentation materials.
  • Experience with following systems preferred:
    • Lawson (Infor)
    • Strata
  • Proficiency in development of operational and capital equipment budgets and forecasts.
  • Proficiency in system solutions and leveraging solutions for financial process improvements.

KNOWLEDGE, SKILLS & ABILITIES (KSAs):

  • Utilize strategic thinking, problem-solving, and decision-making skills.
  • Strong qualitative, analytic, and problem-solving skills to evaluate all aspects of a problem or opportunity and draw valid conclusions to make or facilitate appropriate and timely decisions.
  • Outstanding verbal and written communication skills, advanced organizational skills, and a strong record of working effectively with staff in a multicultural and diverse environment.
  • Ability to communicate effectively in writing with intermediate to advance proficiency in Word, Excel, and PowerPoint.
  • Demonstrated leadership skills in the development, interpretation, coordination, and communication of finance policies regarding GAAP, cost and grant accounting, budgeting, financial system structure, internal controls, and compliance.
  • Ability to function in a fast-paced environment.
  • Ability to handle multiple priorities.

Equal Opportunity Employer/Disabled/Veterans

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