Assistant Chief Financial Officer DMC Childrens Hospital of Michigan

Other Executive - Detroit, MI

Full-time - Senior

Detroit, MI

101-250 employees

About the position

The Assistant Chief Financial Officer (ACFO) at DMC Children's Hospital of Michigan plays a pivotal role in ensuring the financial health and operational efficiency of the hospital. This position collaborates closely with the Chief Financial Officer (CFO) to uphold the hospital's mission, vision, and goals while focusing on the needs of patients, physicians, employees, volunteers, and the community. The ACFO is responsible for the continuous assessment and improvement of the hospital's financial functions, ensuring that all operations align with the hospital's strategic objectives. In this leadership role, the ACFO will oversee the establishment and monitoring of financial plans and budgets, managing the financial affairs of the hospital network in accordance with sound business practices and regulatory requirements. The ACFO will analyze daily operating results to ensure that revenues, expenses, and labor are within budgeted objectives, advising department heads and administration on necessary changes and improvements. This position also requires the establishment of sound financial controls and record-keeping practices, as well as staying informed about government regulations and reimbursement environments to adapt policies and procedures accordingly. The ACFO will prepare financial forecasts, monitor performance against budgets, and develop cash management controls. Additionally, the role involves coordinating with senior leadership in the development of strategic financial plans, reviewing the effectiveness of financial systems, and assisting in the development of new business opportunities. The ACFO is expected to maintain high ethical standards in all financial operations and to engage in collaborative leadership to drive organizational success and improve financial performance across the hospital network.

Responsibilities

• Collaborate with the Chief Financial Officer to ensure the financial viability of the hospital network.
• Analyze daily operating results to ensure revenues, expenses, and labor are within budgeted objectives.
• Establish and maintain sound financial controls and record-keeping practices.
• Stay informed about government regulatory requirements and adapt policies as needed.
• Monitor the annual operating budget according to corporate guidelines.
• Evaluate the hospital network's overall financial position and prepare periodic financial reports.
• Prepare financial forecasts and monitor performance versus budget.
• Coordinate with senior leadership in developing strategic financial plans.
• Review and ensure the effectiveness of financial and accounting systems.
• Assist in the development of new business by analyzing feasibility of new programs.

Requirements

• At least eight to ten years of progressive financial healthcare experience or equivalent.
• Strong organization skills with the ability to prioritize workload effectively.
• Ability to convert complex finance and operational issues into understandable terms.
• Substantial financial management experience in a complex environment.
• Thorough understanding of healthcare trends and ability to anticipate opportunities.
• Bachelor's degree in Finance or Accounting is required; MBA, MHA, or CPA preferred.

Nice-to-haves

• Experience in pediatric healthcare finance is a plus.
• Familiarity with government regulations and compliance standards in healthcare.
• Strong interpersonal and communication skills to engage with various stakeholders.

Benefits

• Competitive compensation program including base salary and performance bonus.
• Comprehensive benefits program including relocation assistance.