Chief Financial Officer

3 days ago

Washington, United States MedStar Health Full time
Job Summary

The Chief Financial Officer (CFO) serves as the primary financial leader for MedStar Washington Hospital Center and MedStar Health Research Institute. This key role is responsible for developing and maintaining a strategic financial plan and annual operating and capital budgets.

Key Responsibilities
  1. Financial Planning and Analysis
  • Develops and contributes to the achievement of established department goals and objectives.
  • Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.
Leadership and Collaboration
  • 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.
Financial Reporting and Analysis
  • Performs monthly financial review and analysis of operating results for MWHC and MHRI.
  • Coordinates the preparation of monthly financial analyses reports and variance analyses.
Strategic Financial Planning
  • Provides leadership in the development of short and long-term strategic financial objectives for both organizations.
  • Ensures credibility of the entity Finance department by providing timely and accurate analysis of financial data, reports, and trends.
Revenue Cycle and Compliance
  • Helps coordinate revenue cycle initiatives in collaboration with PSSC.
  • Serves as the liaison with the MedStar parent corporation, the PSSC, and its subsidiaries on financial related topics and issues.
Compliance and Risk Management
  • Consistently demonstrates support for compliance in the performance of job duties and responsibilities.
  • Maintains knowledge of and performs job functions in compliance with MedStar Health, MWHC, and MRI policies and procedures.
Financial Planning and Budgeting
  • Develops, implements, and periodically updates a strategic financial plan.
  • Works with PSSC on Federal and Commercial Grants and Contracts Post Award accounting and reporting.
Financial Leadership and Oversight
  • 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.
Financial Performance and Improvement
  • Interprets current financial trends and responds 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.
Requirements

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.

Salary Range

$302,200 - $408,800

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