Chief Financial Officer (CFO)

$112,000 - $148,000/Yr

Virginia Community Healthcare Association - Lynchburg, VA

Full-time - Senior

Lynchburg, VA

Professional, Scientific, and Technical Services

About the position

The Chief Financial Officer (CFO) is a vital member of the leadership team at the health center, playing a crucial role in shaping the strategic goals and objectives of the organization. This position is primarily responsible for overseeing the financial operations of the health center, ensuring that all financial decisions and processes align with the center's mission and contribute to its financial stability. The CFO will manage all fiscal activities, which include the development and monitoring of financial policies and procedures, operational and capital budget management, cash management, and ongoing revenue generation analysis. In addition to leading day-to-day finance operations, the CFO will have functional responsibility over accounting, payment processing systems, grants administration, and banking operations, while ensuring compliance with Generally Accepted Accounting Principles (GAAP) and other regulatory requirements. The CFO will also monitor, direct, analyze, and report on the financial and operational environment to the CEO and the Board of Directors, providing insights that inform strategic decision-making. The role requires a proactive approach to fiscal management, including the development of an accounting system that provides accurate and timely information for decision-making and reporting. The CFO will also be responsible for internal auditing procedures, cash handling processes, budget development, compliance with regulatory matters, and the management of legal and contractual obligations. This position is essential for maintaining the financial health of the organization and ensuring that it meets its operational goals effectively.

Responsibilities

• Develop and manage the accounting system to provide accurate and timely information used for decision-making and reporting.
• Develop and maintain internal auditing procedures to ensure compliance with organizational policy and assess the effectiveness of management controls.
• Design and manage systems, processes, and procedures for handling cash receipts and disbursements, ensuring segregation of duties.
• Monitor, direct, analyze, and convey financial performance to the CEO.
• In conjunction with the CEO, develop the annual budget and long-range budgets, including capital expenditure budgets.
• Assure compliance with all regulatory and compliance matters and manage all legal and contractual matters in accordance with current laws, rules, regulations, and standards.
• Perform interim and monthly account reconciliations.
• Prepare and post adjusting general journal entries according to GAAP standards.
• Responsible for month and annual close processes, including reconciliation of practice management system activity to the general ledger.
• Ensure accurate payroll and associated payroll tax liability payments.
• Ensure completion of monthly, quarterly, and annual payroll tax reports.
• Assist with the review and revision of benefit plans, compensation structure, and staffing levels.
• Perform complex financial analyses and evaluate operating results with regard to cash flow, costs, budgets, utilization of resources, and organizational productivity.
• Review lines of business quarterly to determine solvency.
• Manage staffing to budgeted FTEs and monitor costs for savings opportunities.
• Prepare and present annual federal and state grant budgets to CEO and Board of Directors.
• Submit federal grant budgets and support schedules per agency requirements within the Electronic Handbook (EHB).
• Compile, complete, and submit grants management and required agency reports including, but not limited to, the SF 425-Federal Financial Report, UDS-Uniform Data System, Form 22-92 Medicare Cost Report, CMS 838-Medicare Credit Balance Report, and other grant-specific reports.
• Maintain master grant files with supporting documentation, agency correspondence, and award notifications.
• Ensure compliance with OMB Circular A-133 requirements.
• Manage all aspects of the practice's revenue cycle and practice management system.
• Monitor patient and insurance accounts receivable monthly to ascertain effectiveness of practice management system workflow.
• Maintain and update charge schedules annually.
• Responsible for the reduced fee program, including review of internal audit findings and educating staff on program requirements.
• Manage all contracts with insurers and other agencies to include oversight of contract requirements and provisions to ensure full compliance.
• Review and update annual business insurance policy coverage.
• Assist with the completion of the annual Form 990 and A-133 Audit.
• Review details of monthly financial activity and financial statement with the Board Finance Committee.
• Present monthly financial statements, federal and operating budgets, audits, and Form 990 for review and acceptance/approval by the Board of Directors.
• Present fiscal policies to the Board for review and approval.
• Effectively supervise Staff Accountant and Grant Fiscal Specialist.
• Participate in interviewing and candidate selection process.
• Develop and coordinate new employee orientation and onboarding program within the finance department.
• Maintain documentation and follow corrective action process.
• Complete performance appraisal process per established policies.
• Consistently work in a positive and cooperative manner with other employees in and outside of department.
• Communicate well with staff, is readily available and responds quickly to internal and external customers.
• Value and incorporate the contributions of people from diverse backgrounds; demonstrate respect for the opinions and ideas of others.
• Share information and own expertise with others to enable accomplishment of goals and objectives.
• Assist other team members in the performance of their assignments, projects, or goals.
• Provide appropriate forums to encourage teamwork with staff members.
• Function independently and adapt to changes in the work environment.
• Meet and interface professionally with other healthcare professionals and organizations in the community.
• Provide leadership, exercise appropriate influence, tactful judgment, and proper conduct to negotiate matters and carry out policies and programs for the best interests of the health center, its staff, and patients.
• Demonstrate commitment to excellence by consistently looking for ways to improve and promote quality within the organization.
• Identify problems in a timely manner and develop alternative solutions to problems.
• Contribute to Continuous Quality Improvement activities within the department and organization.
• Consistently evaluate work and evaluate if further steps are needed to meet customer/patient/management expectations.
• Demonstrate sound judgment by taking appropriate actions regarding questionable findings or concerns.
• Continually monitor to ensure compliance with FQHC standards.

Requirements

• Bachelor's degree required, with a preference for a major in Accounting or Finance.
• Master's degree strongly preferred.
• Three years' experience managing the financials as a Controller/CFO of a high-growth non-profit organization.
• Experience with FQHC accounting, cost reporting, and revenue cycle management.
• Experience with eClinicalWorks and QuickBooks strongly preferred.
• Knowledge of rules, regulations, and financial reporting standards for FQHCs.
• Ability to analyze financial data and patterns.
• Demonstrated effectiveness in revenue cycle management.
• Experience managing federal grants and submitting required reports.
• Ability to prepare more complex documents in Microsoft Word and Excel.