Senior Director of Finance - BMCAP

POSITION SUMMARY:

Boston Medical Center Health System (BMCHS) has recently stood up a new community physician organization-BMCAP. With this exciting new company, BMCHS is looking for a Senior Director of Finance to provides executive-level leadership and financial management enabling the organization to achieve operational, financial, and strategic goals and initiatives. Overseeing the development and implementation of financial systems, technologies, and processes, the Senior Director will be responsible for directing the finance and accounting functions for BMCAP. This responsibility includes the integration and supervision of staff and operations in BMCAP General Accounting, Treasury, and Financial Reporting functions, in addition to administering the provider compensation and incentive models. This role will directly collaborate with Administrative Directors, physician and hospital leadership, practice staff and BMCHS Finance and Accounting.

Position: Senior Director of Finance - BMCAP

Department: BMC Finance

Schedule: Full Time

ESSENTIAL RESPONSIBILITIES / DUTIES:

• Direct the development and implementation of financial planning, budgeting and accounting operations of the new BMCAP organization, including issuance of accurate financial statements at the service line and consolidated level. Includes audit and tax filings, treasury and financial reporting for the newly acquired medical centers.
• Serve as a primary resource and liaison between BMCHS and BMCAP leadership in financial operations, strategy and management. Key responsibilities will entail the alignment and execution physician growth strategies, coordination with physician leadership and collaboration with BMCHS Strategy's growth and diversification workstreams.
• Responsible for all regulatory and financial external reporting requirements, in collaboration with BMCHS Accounting.
• Presents all financial performance results to relevant stakeholders (Chair, Division Chief, COO, Hospital/Health System Administration).
• Leads the financial planning associated with provider recruitment and community provider development.
• Leads design and implementation of new physician compensation strategy. Manages Finance staff responsible for administering existing compensation program to 600+ employed clinical providers. Includes calculation of semi-annual update of compensation, along with communication of detailed scorecards to all providers.
• Manage and facilitate, the development of institution funding framework between BMCHS and BMCAP, including operational criteria, financial components, funding formula and calculation, and an RVU model which drives accuracy and appropriateness.
• Development and implementation of BMCAP's long range financial goals and successful execution of strategic plans and initiatives focused around financial performance.
• Direct the maintenance and preparation of the general ledger, accounts payable and treasury functions for the BMCAP, including journal entry input, posting of subsidiary journals and general ledger account reconciliation.
• Direct the generation of accurate and timely financial statements (balance sheet and income statement) in accordance with the monthly close calendar and ad hoc reports as needed.
• Directs the development of annual budgets, rolling forecasts and long range forecasts for BMCAP. Overseeing process and coordination with BMCHS Financial Planning and community hospital financial planning.
• Responsible for the monitoring of the monthly BMCAP payroll file and fringe calculation
• Assess and make recommended changes to financial reports which will enhance overall data communication both internally and externally. Work with various department leadership to ascertain data needs.
• Direct the inter-company billing and the monthly settlement process.
• Holds regular meetings and develops working relationship with Revenue Cycle counterpart(s) regarding A/R, reimbursement issues, collections, and understand relevant touch points between the Professional Billing Office (PBO)
• Communicate and maintain relationships with external and internal auditors to facilitate the annual audit cycle, filing of the annual tax returns and other audit activities.
• Directly supervise team personnel including supervisory tasks, mentoring, goal setting, issue resolution, and training.

(The above statements in this job description are intended to depict the general nature and level of work assigned to the employee(s) in this job. The above is not intended to represent an exhaustive list of accountable duties and responsibilities required).

JOB REQUIREMENTS

EDUCATION:

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  Bachelor's Degree in Accounting or Finance required. MBA preferred.

  
  
  

CERTIFICATES, LICENSES, REGISTRATIONS REQUIRED:

• None required. CPA preferred.

EXPERIENCE:

• A minimum of ten years in health care financial management experience required.

• Preferable experience includes working as finance leader within a physician organization or health system setting, along with/or in addition to current/prior experience as in a public accounting firm focused on the health care vertical (specifically focused on provider organizations).

KNOWLEDGE, SKILLS & ABILITIES (KSAs):

• Analytical skills and ability to apply GAAP in a nonprofit acute care environment.
• Understanding of various financial methodologies with expert knowledge in physician organizations.
• Experienced with both the design and administration of physician compensation and incentive programs
• Skill to proactively advise and educate management on all aspects which financially impact short-range operating and longer-term financial results. Demonstrated record of serving as an advisor and consultant to leadership on financial policies, operations, and strategy. Leadership acumen to act as a key member of the BMCHS CFOs' leadership team. The position will communicate and coordinate with key individuals across Community Hospital operations and BMCHS Finance and as such must be skilled in working in a team-oriented environment.
• Superior computer experience on a General Ledger System (Infor), as well as comparable spreadsheet and word processing software and the ability to train others.
• Demonstrated leadership skills in the development, interpretation, coordination and communication of finance policies regarding GAAP, cost and grant accounting, budgeting, financial system structure, internal controls, and compliance.
• Ability to function in a fast-paced environment.
• Ability to handle multiple priorities.
• Excellent interpersonal skills needed to effectively interact with physician and hospital personnel and establish and maintain effective relationships with physicians, management, staff and other stakeholders.
• Utilize strategic thinking, problem-solving, and decision-making skills.
• Strong qualitative, analytic and problem-solving skills to evaluate all aspects of a problem or opportunity and draw valid conclusions to make or facilitate appropriate and timely decisions.
• Ability to communicate effectively in writing with intermediate to advance proficiency in Word, Excel and PowerPoint.
• Outstanding verbal and written communication skills, advanced organizational skills, and a strong record of working effectively with staff in a multicultural and diverse environment.
• Industry Knowledge - Stay up to date on laws, regulations, trends, and market dynamics in the healthcare industry.

Equal Opportunity Employer/Disabled/Veterans