VP Finance

Published
May 25, 2021
Location
Houston, TX
Category
Job Type

Description

At Company, the Vice President (VP) Finance position is responsible for organization and management of all financial matters of the organization including but not limited to the operating budget, capital budget, academic budget, business analytics, and maintenance of all hospital based financial reporting systems, in accordance with Company’s mission and ICARE values. This executive position has oversight of multiple departments which may include patient access, revenue cycle, case management and others appropriate, and works collaboratively, serving as a resource for the management team to implement and monitor financial control, analysis, operating systems, and internal controls in a manner consistent with corporate policies, procedures and compliance guidelines as well as generally accepted accounting principles, tax regulations, and existing federal and state laws. The VP Finance position is a professional demonstrating a track record of improving patient length-of-stay and financial operating systems and processes as well as skills which include business acumen, strategic planning, decision making in view of financial priorities and internal and external conditions, as well as leadership and interpersonal skills. This position is knowledgeable of social, economic, and regulatory issues affecting the health care system, and, in concert with other leaders, participates with management to plan, promote, and conduct organization-wide performance improvement activities. The VP Finance position is part of the organization’s governing, decision-making, and strategic-planning body, participating in preparation and presentation of issues to the Board of Trustees and Medical Executive Committees when needed.

This position reports directly to Executive Senior leadership in the organization and has responsibilities which include providing management and oversight of multiple areas and entities, as appropriate, and driving Company’s mission, vision, values and commitment to excellence. Demonstrating a proven record of successful strategic planning, developing long-range goals and implementation, this position manages a diverse, interprofessional team, collaborating with stakeholders to achieve mutual goals. Directly and indirectly overseeing management staff with the goal of enhancing professional development and personal growth, this position forms and leads internal teams, providing training and mentorship as needed. This position collaborates with all senior leadership to meet the organization’s objectives, ensuring operational initiatives are implemented, setting business goals, and solving internal issues when needed. Responsible for the assigned areas’ policy and procedure development, revision, and implementation. This position is also accountable for employee engagement, adequate staffing levels, budget development and compliance, to

ensure a safe and effective work environment. This position ensures compliance with ethical and legal business practices and accreditation/regulatory/government regulations.

Requirements:

PRIMARY JOB RESPONSIBILITIES

Job responsibilities labeled EF capture those duties that are essential functions of the job.

PEOPLE - 20%

  1. Provides direction to management team to enable the effective and efficient completion of objectives. Gives timely guidance and feedback to direct report management to strengthen their specific knowledge/skill areas needed for progression. Holds direct reporting management team accountable for the development of staff to meet overall objectives in terms of quality, service and cost effectiveness. (EF)
  2. Identifies opportunities and takes action to build strategic relationships between one’s area and other departments to achieve business goals. Works collaboratively with stakeholders to foster a climate of open communication and mutual problem-solving. (EF)
  3. Develops efficient organizational structures within scope of assignment. Provides leadership for management team to maintain a competent and engaged employee group and provides recognition/commendations to achieve desired outcomes. Drives initiatives
  4. to meet or exceed threshold goal for department turnover and/or system metrics on employee engagement indicators. (EF)
  5. Provides consultative support to executives for planning initiatives through financial and management information analyses, reports, and recommendations and seeks input on how to improve cost and revenue management processes. (EF)
  6. Collaborates with executive leadership to prepare and implement budgetary recommendations. Reports the level of resources utilized in service delivery and determines the appropriateness of resource consumption. (EF)

SERVICE - 20%

  1. Develops and implements strategic and operational/high level projects and processes. Sets clear goals, priorities and objectives for the direct report management team. Oversees multiple departments’ operations and designated projects to ensure that goals or objectives are accomplished within the prescribed time frame, providing guidance to management team to ensure the best possible delivery of service and high customer/patient satisfaction. (EF)
  2. Drives HM service standards and activities to impact system score for patient/customer-based satisfaction, through role modeling and fostering accountability. Responsible for the overall successful operation of the direct report management team. (EF)
  3. Drives collaboration across the organization to identify needs and develop scalable solutions. Prioritizes objectives and implements strategies to achieve organization initiatives as part of the executive leadership team. Delegates responsibilities to direct report management, providing guidance and direction, as appropriate. (EF)
  4. Partners with EVP and other management in development of long and short-term hospital operations plans to include length-of-stay, service demand analysis, resource availability analysis and cost benefit analysis of proposed capital acquisitions and staff expansions. (EF)
  5. Interfaces with System’s purchasing and materials management functions to ensure that the procurement of the Hospital’s good and services are in accordance with System policies and procedures (e.g., goods and services are purchased on System contracts, levels of authority are adhered to, etc.) (EF)
  6. Ensures processes to inventories (e.g., Operating Room, Pharmacy, etc.) are managed at appropriate levels, and has processes in place to limit shrinkage and losses due to obsolescence. (EF)
  7. Provides guidance and support for the Case Management/Social Services department to maintain goals and outcomes that are aligned with performance expectations and establish targets and processes to support initiative of clinical quality and length of stay. (EF)

QUALITY/SAFETY - 20%

  1. Reviews levels of service and significant trends that impact the effectiveness of delivering patient care, critical operational objectives, or other key components within the organization. Ensures that management teams are conducting root cause analyses, as appropriate. Proactively guides management to identify prevention/risk avoidance opportunities and implements continuous improvement plans. (EF)
  2. Monitors and ensures organizational compliance with federal, state and local safety and environmental regulations and standards as well as accreditation requirements. Ensures
  3. direct report management monitors and/or revises the departments’ safety plan and/or any specific accreditation/regulatory required safety guidelines. (EF)
  4. Proactively approaches the optimization of safe outcomes and information systems by monitoring, improving and enhancing operations, identifying solutions via collaboration. Oversees the implementation of process improvements, utilizing tools such as lean and change management principles. Role models situational awareness, using teachable moments to improve safety. (EF)
  5. Works collaboratively with department operations, case management and quality management to obtain and maintain the highest levels of quality, safety, patient satisfaction, and operational efficiency and effectiveness (EF)
  6. Oversees activities of case management, hospital-based front-end patient access and revenue cycle departments and interfaces with applicable Corporate departments to ensure that revenue cycle is run efficiently and effectively across the entire organization. Ensures all charge-capture is done as efficiently and effectively as possible. (EF)

FINANCE - 20%

  1. Ensures departments’ annual operational and capital budgets align with organization’s strategic plan and consistent with EVP, System CFO and Corporate guidelines. Uses benchmark data to support performance, costs and return on investment. (EF)
  2. Drives the maximization of efficiency and productivity. Leverages relationships with vendors and partners to obtain contracts that support cost-efficient operations and maintenance. (EF)
  3. Allocates financial, information, and human capital for improvement activities, ensuring efficient delivery of cost-effective and efficient services to patients, physicians, and hospital departments. Educates patient care team leaders on financial implications of patient care decisions. (EF)
  4. Leads preparation of financial reports necessary to show overall financial performance and analysis of monthly operating results, and coordinates development of action plans to address material variances. (EF)
  5. Monitors viability/cost-effectiveness of contracts; ensures competitive purchases and contracts; rebids work as needed. (EF)
  6. Implements productivity reporting tools for real-time evaluation of staffing and productivity. (EF)
  7. Evaluates profitability of lines of business and cost effectiveness of hospital programs and recommends appropriate changes. (EF)

GROWTH/INNOVATION - 20%

  1. Develops long-range goals and strategic plans. Deploys data and research to drive cross-business organization prioritization. (EF)
  2. Maintains acute awareness of market and industry trends. Implements innovative solutions for practice or workflow changes to improve system operations. Represents HM at community or professional organization meetings. (EF)
  3. Drives change initiatives, maintaining and sustaining effectiveness when experiencing major changes in work responsibilities or environment that support through prolonged timelines for system-level changes; adjusts effectively to work within new work structures, processes, requirements or cultures. (EF)
  4. Initiates and executes succession plans. Conducts conversations with direct report management on the My Development plan. (EF)
  5. Systematically scans the external environment for changes that have implications for financial operations of the organization. (EF)
  6. Drives Robotic Process Automation (RPA) and other innovations to improve front-end access and revenue cycle. (EF)

This job description is not intended to be all inclusive; the employee will also perform other reasonably related business/job duties as assigned. Company reserves the right to revise job duties and responsibilities as the need arises.

Qualifications:

EDUCATION REQUIREMENTS

o Master’s degree in finance, accounting, business management or related field

EXPERIENCE REQUIREMENTS

o Ten years of directly related experience to include leading high-performing teams, at least eight years in a management role; may consider current HM employee with seven years management experience in healthcare

o Leadership experience to include accountability over multiple operational areas including case management and revenue cycle with a successful track record of strategic planning, change management, operational integration within a system, financial management, and community involvement

o Executive or senior leadership experience preferred

CERTIFICATIONS, LICENSES AND REGISTRATIONS REQUIRED

o Membership in Healthcare Financial Management Association (HMFA) or similar association

o Certified Public Accountant (CPA) designation preferred

KNOWLEDGE, SKILLS AND ABILITIES REQUIRED

o Demonstrates the skills and competencies necessary to safely perform the assigned job, determined through on-going skills, competency assessments, and performance evaluations

o Sufficient proficiency in speaking, reading, and writing the English language necessary to perform the essential functions of this job, especially about activities impacting patient or employee safety or security

o Strategic vision with the ability to execute

o Demonstrated leadership presence and maturity

o Impeccable judgment and ability to make sound decisions in a fast-paced, dynamic setting

o Executive-level presentation skills and ability to interface successfully with high-level clients

o Demonstrates the ability to interact with others in a way that gives them confidence in one’s intentions and those of the organization

o Ability to use appropriate interpersonal styles and techniques to gain acceptance of ideas or plans; modifying one’s own behavior to accommodate tasks, situations and individuals involved

o Demonstrates leadership qualities and critical thinking through self-direction initiative and effective interpersonal skills and oral/written communication skills

o Ability to identify and understand issues, problems and opportunities, comparing data from different sources to draw conclusions; using effective approaches for choosing a course of action or developing appropriate solutions; takes action that is consistent with available facts, constraints and probable consequences

o Extensive knowledge of regulatory and accreditation agency requirements that impact department; stays abreast of industry changes

o Demonstrates flexibility, adaptability, and comfort living in ambiguity; able to provide strong leadership during times of change

o Capable of leading teams/facilitating groups, building consensus and garnering highest confidence in professionalism and work product by senior leadership

o Ability to work under pressure and balance many competing priorities; highly responsive and solution/action oriented

o Proficiency in spreadsheet, word processing, and presentation software

o Maintains a positive and supportive attitude and demeanor

o Professional handling of exposure to confidential/sensitive information

o Possesses the vision and the sensitivity to sustain a cultural transformation process consistent with the mission and values of Company

o Demonstrated ability to lead others to common organizational goals and objectives and able to mentor and develop others in the organizations to foster positive employee engagement

o Ability to inspire and motivate others, while promoting the mission and vision of the organization and related capacities and abilities

o Ability to hold people accountable to achieve objectives and have crucial conversations when appropriate with key stakeholders

o Strong understanding of CMS and Managed Care regulations

o Excellent understanding and application of generally accepted accounting principles with the utmost of integrity and ethics

SUPPLEMENTAL REQUIREMENTS

Work Attire Yes/No

Uniform No

Scrubs No

Business professional Yes

Other (dept approved) No

On-Call* Yes, as required by entity/department for operational need

*Note that employees may be required to be on-call during emergencies (i.e. Disaster, Severe Weather Event, etc.) regardless of selection above.

Travel**

May require travel within Yes

Houston Metropolitan area

May require travel outside Yes

of Houston Metropolitan area

**Travel specifications may vary by department.

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