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Chief Financial Officer

1 month ago

Cleveland, United States Care Alliance Full time
Job DescriptionJob Description
Description:

Mission Statement:

Our mission is to provide high-quality, comprehensive medical and dental care, patient advocacy and related services to people who need them most, regardless of their ability to pay. Caregivers demonstrate a high level of empathy, compassion and profound respect while providing excellence of care to our patients. They serve as advocates for all of those in our Northeast Ohio community, especially the most vulnerable.


Job Summary:

The Chief Financial Officer (CFO) at Care Alliance Health Center is responsible for the financial leadership and strategic management of the organization's fiscal operations. This role oversees financial planning, budgeting, forecasting, and reporting to ensure financial stability and sustainability. The CFO provides strategic insights to the executive team, guiding decision-making to support the organization's mission of delivering high-quality healthcare to underserved communities. Additionally, the CFO ensures compliance with all financial regulations, optimizes revenue streams, and implements effective financial controls. The ideal candidate is a visionary financial strategist with a strong background in healthcare or nonprofit finance.


Responsibilities (Include but not limited to)

· Financial Strategy and Planning: Develop and oversee the organization's financial strategy, ensuring alignment with Care Alliance's mission and long-term goals. Lead budgeting, forecasting, and financial planning processes.

· Financial Reporting and Compliance: Ensure accurate and timely preparation of financial statements and reports, adhering to regulatory standards and organizational policies. Oversee audits and maintain compliance with federal, state, and local financial regulations.

· Patient Billing and Revenue Cycle Management: Lead and optimize patient billing and revenue cycle processes, working closely with clinical and administrative teams to ensure timely collections, accurate billing, and maximized reimbursement.

· Cash Flow and Asset Management: Monitor and manage cash flow, investments, and financial assets, ensuring resources are available to meet operational needs and strategic initiatives.

· Cost Control and Financial Efficiency: Identify cost-saving opportunities, implement efficient financial practices, and oversee expense management to ensure financial sustainability.

· Financial Controls and Risk Management: Design and implement robust internal controls to safeguard assets and minimize financial risk, including fraud prevention and regulatory compliance.

· Grant and Funding Oversight: Manage and report on grant funding and restricted funds, working with program directors to ensure proper allocation, compliance, and reporting.

· Executive Team Collaboration: Serve as a key advisor to the CEO and executive team, providing financial insights to support strategic decision-making and long-term planning.

· Team Leadership and Development: Lead and mentor the finance team, promoting professional development and high-performance standards within the department.

· Board and Stakeholder Reporting: Prepare and present financial reports and forecasts to the Board of Directors and stakeholders, communicating complex financial information in a clear, accessible manner.


Requirements:

Minimum Education and Experience:

· Education: Bachelor's degree in Finance, Accounting, Business Administration, or a related field required; Master's degree in Finance or MBA preferred. Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation is highly desirable.

· Experience: Minimum of 10 years in finance, accounting, or a related field, with at least 5 years in a senior leadership role overseeing financial strategy and operations, ideally within healthcare or nonprofit sectors.

· Revenue Cycle Expertise: Proven experience managing patient billing and revenue cycle operations, with a track record of optimizing collections and improving billing accuracy.

· Financial Compliance and Reporting: Strong background in regulatory compliance, financial reporting, and managing audits, with knowledge of federal and state healthcare finance regulations.

· Analytical and Technical Skills: Proficiency in financial management software, advanced Excel skills, and the ability to interpret complex financial data to support strategic decision-making.



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