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 business units to predict and enhance financial results. The CFO is responsible for coordinating and balancing the budget for Managed Care while ensuring adherence to financial regulations and standards. This role also includes supervising the DHMP Finance Department to ensure compliance with all regulatory, auditing, and accounting requirements, as well as developing and monitoring a robust system of internal financial controls. Additionally, the CFO coordinates and negotiates all non-provider contracts as necessary. In terms of strategic planning, the CFO leads the development and evaluation of both short and long-term financial objectives, partnering with stakeholders to provide insights and coaching to ensure a solid understanding of the financial foundations of DHMP's products. The CFO is also tasked with identifying opportunities for savings and returns on investments, maintaining the general ledger, and preparing month-end financial statements in accordance with GASB and Statutory Accounting Principles. This includes the preparation and filing of quarterly and annual financial statements, as well as managing 1099 reporting and ensuring compliance with tax regulations. The CFO will direct the annual financial planning and budget functions, manage financial audits, and interface with consulting actuaries for regulatory compliance and financial recording. The role also encompasses overseeing the reinsurance process, initiating the contracting process for non-provider contracts, and developing internal controls and procedures. Furthermore, the CFO will prepare DHMP Board Meeting Packets, supervise bank and investment reconciliations, and assist in resolving enrollment discrepancies. This position requires a Master's Degree and significant experience in financial management, with a strong preference for candidates with health insurance industry experience.

Responsibilities

• Oversee and manage the Medical Plan's overall financial plans, policies, accounting practices, and statutory reporting.
• Collaborate with business units to predict and improve financial results.
• Coordinate and balance the budget for Managed Care and monitor adherence.
• Supervise the DHMP Finance Department to 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 short and long-term 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 in accordance with statutory accounting principles.
• Prepare and file annual Risk Based Capital (RBC) requirement calculations.
• Issue 1099s to providers, companies, contractors, and the IRS, and file documents within stated IRS deadlines.
• Direct and coordinate the annual financial planning and budget functions of DHMP.
• Direct financial audits and regulatory audits of financial statements and respond to audit findings.
• Interface with consulting actuaries for IBNR reserve setting and rate filings.
• Oversee all aspects of the reinsurance process including negotiating coverage and maximizing claim recovery.
• Initiate the contracting process for all Managed Care Division non-provider contracts.
• Develop and monitor a system of internal financial controls, processes, and procedures.
• Prepare and submit or review the preparation of the DHMP form 990 Tax Return.
• Prepare DHMP Board Meeting Packets regarding financial performance and supervise bank and investment 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 organize work effectively.
• Ability 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.
• Familiarity with public health policies and regulations.
• Knowledge of financial software and systems used in healthcare.

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.