Chief Financial Officer - Denver Health Medical Plan

$210,177 - $335,737/Yr

Denver Health - Denver, CO

Full-time - Senior

Denver, CO

Hospitals

About the position

The Chief Financial Officer (CFO) of the Denver Health Medical Plan (DHMP) plays a pivotal role in overseeing and managing the overall financial plans, policies, accounting practices, and statutory reporting of the Medical Plan. This position requires minimal supervision and involves collaboration with various stakeholders to predict and enhance financial results. The CFO is responsible for coordinating and balancing the budget for Managed Care, ensuring adherence to financial regulations, and supervising the DHMP Finance Department to maintain compliance with all regulatory, auditing, and accounting requirements. Additionally, the CFO develops and monitors a system of internal financial controls and coordinates all non-provider contracts as necessary. In terms of strategy and planning, the CFO leads the development, evaluation, and attainment of both short and long-term strategic financial objectives. This involves partnering with DHMP stakeholders to provide insights and coaching to ensure that leaders understand the financial foundation of the products offered. The CFO also identifies opportunities for savings and returns on investments, which is a critical aspect of the role. The CFO is tasked with maintaining the general ledger chart of accounts, income statement, and trial balance for DHMP and DH Medicaid Choice. This includes creating month-end financial statements in accordance with GASB and Statutory Accounting Principles, as well as preparing and filing quarterly and annual financial statements as required by the National Association of Insurance Commissioners. The role also encompasses budget development and management, directing the annual financial planning and budget functions, and reporting on actual results compared to budget. Compliance and audit responsibilities are significant, as the CFO directs financial audits and regulatory audits of financial statements, responding to any audit findings. The CFO interfaces with consulting actuaries for various financial analyses and oversees all aspects of the reinsurance process, ensuring sufficient coverage and maximizing claim recovery. In addition to these responsibilities, the CFO initiates the contracting process for all Managed Care Division non-provider contracts, collaborates with the legal department to ensure compliance, and develops a robust system of internal financial controls. The role also includes preparing and submitting tax returns, supporting the DHMP Board with financial performance reports, and assisting in resolving enrollment discrepancies. Overall, the CFO is a key leader in ensuring the financial health and regulatory compliance of the Denver Health Medical Plan.

Responsibilities

• Oversee and manage the Medical Plan's overall financial plans, policies, accounting practices, and statutory reporting.
• Collaborate with stakeholders to predict and improve financial results.
• Coordinate and balance the budget for Managed Care and monitor adherence.
• Supervise the DHMP Finance Department and ensure compliance with regulatory, auditing, and accounting requirements.
• Develop and monitor a system of internal financial controls.
• Coordinate and negotiate all non-provider contracts as applicable.
• Lead the development, evaluation, and attainment of strategic financial objectives.
• Maintain the general ledger chart of accounts, income statement, and trial balance for DHMP and DH Medicaid Choice.
• Create month-end financial statements in accordance with GASB and Statutory Accounting Principles.
• Prepare and file quarterly and annual financial statements as required by the National Association of Insurance Commissioners.
• Direct and coordinate the annual financial planning and budget functions of DHMP.
• Direct financial audits and respond to audit findings.
• Interface with consulting actuaries for IBNR reserve setting and rate filings.
• Oversee all aspects of the reinsurance process, including negotiations and claim recovery.
• Initiate the contracting process for Managed Care Division non-provider contracts.
• Develop and monitor a system of internal financial controls and processes.
• Prepare and submit tax returns, ensuring compliance with required disclosures.
• Support the DHMP Board with financial performance reports and meeting preparations.
• Assist in resolving enrollment discrepancies and supervise membership reconciliation.

Requirements

• Master's Degree required.
• 10+ years of experience in financial management and reporting required.
• 4-6 years of supervisory experience in managing a team of financial and accounting professionals required.
• Health insurance industry experience strongly preferred.
• CPA-Certified Public Accountant preferred but not required.
• Comprehensive knowledge of NAIC Statutory Accounting Practices and all state and federal insurance rules and regulations.
• Excellent interpersonal and presentation skills, with experience in presenting financial data concisely and professionally.
• Superior skill in creating PowerPoint and Excel presentations.
• Ability to perform duties with little direct supervision and to judge appropriate actions in response to changes or problems.
• Proficient with Microsoft products and Tableau data presentation tools, and expert in Microsoft Excel.

Nice-to-haves

• Experience in a healthcare setting is a plus.
• Familiarity with financial software and systems used in healthcare finance.

Benefits

• Outstanding benefits including up to 27 paid days off per year.
• Immediate retirement plan employer contribution up to 9.5%.
• Generous medical plans.
• Free RTD EcoPass (public transportation).
• On-site employee fitness center and wellness classes.
• Childcare discount programs & exclusive perks on large brands, travel, and more.
• Tuition reimbursement & assistance.
• Education & development opportunities including career pathways and coaching.
• Professional clinical advancement program & shared governance.
• Public Service Loan Forgiveness (PSLF) eligible employer with free student loan coaching and assistance.