Chief Financial Officer

Massachusetts General Hospital - Boston, MA

Full-time - Senior

Boston, MA

11-50 employees

Hospitals

About the position

The Chief Financial Officer (CFO) at North End Community Health Center, Inc. (NEW Health) provides executive leadership and oversight for all financial operations. This role is crucial for ensuring fiscal responsibility, regulatory compliance, and alignment with organizational goals. The CFO will leverage expertise in accounting, finance, and strategic planning to enhance financial sustainability and integrity, overseeing budgeting, reporting, and financial operations while consulting closely with leadership and the board of directors.

Responsibilities

• Develop and utilize tools and systems to provide critical financial and operational information to the CEO, leadership team, and board of directors, making actionable recommendations on strategy and operations.
• Advise the CEO on all financial-related matters.
• Develop and implement comprehensive financial strategies aligned with the health center's mission and objectives, ensuring long-term financial sustainability and growth.
• Perform data-driven evaluation of the organization's financial performance against annual budgets and strategic plans.
• Engage the budget and finance committee around issues, trends, and environmental developments that pose financial risks or opportunities, proposing mitigating strategies.
• Lead the annual operating and capital budgeting process, forecasting financial performance, analyzing variances, and providing strategic recommendations for senior leadership and the finance committee.
• Manage and develop financial information technology systems to meet financial data processing, control, information, and reporting requirements.
• Establish, update, and implement policies and procedures for internal controls around financial management functions, including succession plans for key financial roles.
• Collaborate with staff in grant applications and manage financial components related to grant reporting and management.
• Oversee and manage all financial and regulatory matters related to the health center's 340B and Retail Pharmacy.
• Prepare accurate and timely monthly and year-end financial reports for executive management and the board, ensuring compliance with regulatory requirements and accounting standards.
• Prepare timely reports and documentation for the annual audit; manage the independent outside audit.
• Monitor the budget and guide directors and program leaders in budget management.
• Manage cash flow, liquidity, and banking relationships, ensuring efficient cash management practices and optimizing investment opportunities.
• Assure compliance with state, federal, and local governmental requirements, representing the health center in business negotiations and overseeing funding source contracts and agreements.
• Oversee the timely and accurate operation of purchasing, procurement, and accounts payable, establishing and maintaining internal controls.
• Ensure appropriate insurance coverage levels and types; review and update as needed.
• Assess and mitigate financial risks through effective internal controls and risk management strategies.
• Manage and maintain the contract management processes, ensuring compliance with policy and procedure.
• Streamline and optimize financial processes and systems to enhance efficiency, accuracy, and transparency.
• Provide strong leadership to the finance team, fostering a culture of accountability, collaboration, and professional development.
• Meet regularly with program leaders to review program financial statements and ensure budgetary compliance and fiscal performance.
• Cultivate strategic financial partnerships to enhance the health center's financial standing.

Requirements

• Master's degree in accounting or finance preferred (MBA).
• 10+ years of experience in financial management, with a focus on non-profit healthcare organizations.
• Experience managing state and federal grants preferred, ideally with reporting requirements for HRSA grants.
• Proven senior leadership experience in managing financial operations in a non-profit organization with an annual budget of at least $25 million.
• In-depth knowledge of nonprofit accounting principles, GAAP, and financial reporting.
• Deep understanding of FASB standards for accurate financial reporting and compliance.
• Demonstrated expertise in federal grant management regulations.
• Strong understanding of IRS regulations for compliance with tax-related requirements.
• Proven track record of strategic financial planning, budgeting, and analysis.
• Commitment to the mission and values of the Massachusetts League of Community Health Centers.
• Ability to adapt to a dynamic and evolving environment.
• Dedication to equity, diversity, and inclusion in the workplace.

Nice-to-haves

• Demonstrated proficiency with accounting software such as Intacct, MIP, Verity, UKG, or similar software.
• Strong interpersonal and communication skills, with experience in effectively communicating key data to management and the board.
• Ability to build relationships and communicate financial concepts to non-financial stakeholders.
• Keen analytic, organization, and problem-solving skills.

Benefits

• Health insurance
• Dental insurance
• Vision insurance
• 401k retirement plan
• Paid time off
• Professional development opportunities
• Flexible scheduling