Chief Financial Officer

Steward Health Care System - West Monroe, LA

Full-time - Mid Level

West Monroe, LA

11-50 employees

Ambulatory Health Care Services

About the position

The position of Financial Manager at Steward Health Care, LLC (Steward) is crucial for ensuring the financial viability of the organization. This role involves establishing and monitoring financial plans and budgets that align with the business unit goals and comply with various government regulatory requirements. The Financial Manager will be responsible for managing the financial affairs of Steward in accordance with sound business practices and Steward policies. This includes planning, organizing, and directing the fiscal services department, which encompasses the development, interpretation, coordination, and administration of policies related to finance, accounting, insurance, financial/accounting systems, internal controls, and auditing. Key responsibilities include establishing and monitoring the annual operating budget in accordance with sound budgeting principles and corporate guidelines. The Financial Manager will interface with Human Resources and other departments to prepare manpower plans, salary, and benefit proposals. Supervising and developing managers in areas such as patient accounting, data processing, credit/collection, general accounting, purchasing, PBX, and admitting is also a critical aspect of this role. The Financial Manager will establish performance plans and objectives, evaluate results with subordinates, and provide positive direction and open lines of communication. In addition, the Financial Manager will evaluate Steward's overall financial position and prepare periodic financial and operating reports. This role requires coordination with other senior management members to develop major financial plans, including capital expenditure programs. The Financial Manager will also review and evaluate the effectiveness of all financial and accounting systems at Steward, directing the development and implementation of new systems, policies, and procedures as required. Furthermore, the Financial Manager will assist in developing new business by analyzing the feasibility of new ventures, including managed care contracts, and advising management on financial prospects. The position demands a commitment to ethical and responsible financial operations, ensuring compliance with government regulations and adapting to the rapidly changing reimbursement environment.

Responsibilities

• Establish and monitor the annual operating budget in accordance with sound budgeting principles and corporate guidelines.
• Interface with Human Resources and other departments in preparation of manpower plans, salary and benefit proposals.
• Supervise and develop managers in areas such as patient accounting, data processing, credit/collection, general accounting, purchasing, PBX, and admitting.
• Establish performance plans and objectives and evaluate results with subordinates at the end of the performance period.
• Provide positive direction and open lines of communication with and between subordinates.
• Direct subordinates in developing and implementing systems and procedures for effective and accurate record keeping.
• Evaluate Steward's overall financial position and prepare periodic financial and operating reports.
• Coordinate with other senior members of management in developing major financial plans including capital expenditure programs.
• Review and evaluate the effectiveness of all financial and accounting systems at Steward.
• Direct the development and implementation of new systems, policies, and procedures as required.
• Assist in the developing of new business by analyzing the feasibility of new ventures including managed care contracts and advise management of the financial prospects.
• Attend promptly to the administrative details of the position including the signing of documents, preparation of reports, completion of performance appraisals and other employee-related actions.
• Ensure that the financial operation of Steward is carried out in an ethical, responsible manner.
• Analyze daily operating results to ensure that revenues, expenses, and labor are within budgeted objectives, advising department heads and administration of needed changes, improvements, etc.
• Establish and maintain sound financial controls and record keeping with as few employees as possible.
• Approve financial expenditures up to the level established by the Steward President.
• Keep current of government regulatory requirements and rapidly changing reimbursement environment to develop and implement changes to policies and procedures as needed.
• Manage Steward's financial resources through subordinates, supervising and coordinating the functions of reimbursement, budget, patient accounting, and general accounting.
• Participate in the development of department objectives and organization structure.
• Organize work of department, allocate and schedule work to be performed, and recommend positions and staffing required.
• Participate in the development of department operating budget and ensure that operations are maintained within allocated funds.
• Establish and maintain appropriate records and reports.
• Develop and implement policies and procedures for the department and ensure compliance within.
• Provide for organization and maintenance of an effective system of accounting and cost determination.
• Continually review and modify costs systems and data collection to assure maximum cost reimbursement for patient services.
• Prepare periodic reports outlining Steward's financial position in all areas of assets, liabilities, income, and expense based on past, present, and planned future operations.
• Prepare and effect timely filing of federal, state, third party, and other financial reports as required.
• Stay current with national and local economic conditions and serve as advisor to board director on their impact.
• Recommend budget-planning guidelines to board director, coordinate preparation of current operating and capital budgets with Administrator for Steward.
• Provide for current and adequate insurance protection to protect Steward from liability and other losses.
• Supervise investigation, analysis, and present recommendations with respect to costs, charges, rates, etc. to permit income to support Steward's activities.
• Prepare revisions to rate structure.
• Participate in cost impact of personnel policies and programs such as employee benefit additions or changes, general salary increase, etc.
• Perform cost studies involving third parties such as Blue Cross, and local, state, and federal agencies.
• Participate in cost studies with Steward auditing firm representatives.
• Audit financial basis for any Steward activity.
• Participate in activities with third parties to expedite payment of long overdue accounts.
• Direct and supervise department staff through subordinate managers, including review/approval of recommended personnel actions.
• Implement and maintain established Steward policies and procedures, objectives, quality assurance, safety, environmental and infection control.
• Direct (through subordinate supervisors) care and maintenance of department facilities, equipment, and supplies.
• Attend required meetings and participate on committees as required/requested.
• Participate in professional activities; maintain professional affiliations to keep abreast of current trends/changes and legislation in the field.
• Perform other duties as required/directed.

Requirements

• BS Degree in finance, accounting or equivalent.
• CPA and/or MBA is preferred.
• Five or more years of progressively responsible finance experience.
• Excellent management and communication skills.