Denver Health - Denver, CO
posted about 2 months ago
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.