Vice President Finance

Relocate to Boston, MA

We have been engaged to conduct the search for a Vice President Finance, for our client, a multi-billion-dollar healthcare system that includes a 500+ bed tertiary academic medical center, a physician organization, a health insurance plan and an accountable care organization and affiliation with a network of community health centers, based in Boston, MA.

Compensation will be based on background, experience and achievement. Salary range is up to $340,000 with a 20% bonus potential (can earn up to 150% of this bonus).

Excellent benefit package provided and strong relocation package is available as appropriate.

The VP Finance will be expected to work on-site at least 2 or 3 days per week.

Job Description:

Reporting to the System CFO, the VP of Finance is responsible for the Medical Center’s financial planning and decision support management strategy. This includes:

  • Defining and tracking key performance indicators, and building analytical frameworks for making financial and operating decisions that will support and enable the Medical Center’s financial stability.
  • Leading financial planning, strategic planning, and business analytics to ensure departmental integration with key Medical Center and System operations, such as Ambulatory Operations, Supply Chain and Human Resources.
  • Establishing improved processes in the service delivery of financial services to the organization.
  • Developing and implementing decision support tools and finance reporting that assists cross-functional business leaders in making sound financial decisions and future plans.
  • Working collaboratively with key internal and external stakeholders in the Finance Leadership team, including the Medical Group CFO and the Health Plan CFO, and the System Treasurer to coordinate delivery system goals.

The VP of Finance also plays a coordinating role for the System for the following functions:

  • Financial Planning
  • Decision Support
  • Annual Operating Budgets
  • Multi-year financial projections and plans

The VP of Finance will have two direct reports, including the Director of Financial Planning & Analysis and Director of Decision Support.

The VP Finance will:

  • Proactively organize personnel and systems to support the rapid changes in healthcare finance being organized around population9 Health management, including ACOs and clinical integration.
  • Advise the SVP/CFO and hospital executives on financial matters, such as long-range planning, budgeting, business operations, etc.
  • Provide oversight for centralized functions: Budgeting and Decision Support.
  • Ensure decision support systems adequately frame Financial Planning to identify areas of opportunity or threat and to support the operations and planning functions.
  • Improve the capital planning process, working with the Corporate Treasurer.
  • Improve the cost effectiveness of the Medical Center.
  • Review, interpret and analyze financial and statistical data for the SVP/CFO.
  • Participate in financial planning with management on proposed programs and projects, including the analysis of equipment purchases, lease arrangements, construction of facilities, and pro forma program operations.
  • Develop systems, reports and processes to ensure accurate and timely revenue reporting and management. Ensure timely escalation and issues resolution.
  • Collaborate with the VP of Revenue Cycle to determine how the individual rate increases should be distributed across the various departments to maximize the bottom-line impact.
  • Direct the preparation of net revenue for budgeting and monthly financial statement reporting.
  • Establish a reputation as a knowledgeable and respected leader of the finance team, someone to whom they can turn for information and professional development. Act as a mentor to their direct reports and take an active role in their development.
  • Demonstrate to the other members of the leadership team that they are a genuine team player.
  • Assess and implement financial planning and decision support processes and systems that will deliver valuable business insights in a timely manner.
  • Develop cross-functional processes that improve the efficiency and timeliness of financial reporting.
  • Streamline and lead the budget and forecasting process.
  • Responsible for all budget-related presentations for the board; effectively communicate and present critical financial matters at select board of directors and committee meeting.
  • Promote a culture of high performance and continuous improvement.
  • Plan, coordinate, and execute the annual budget process.
  • Provide analytical support to the Medical Center’s leadership team including the development of internal management reporting capabilities.
  • Other duties as assigned.

The Confidential Search Company is an executive recruiting firm that specializes in the placement of healthcare financial executives, VPs, directors, Managers and Specialists.

All inquiries will be treated confidentially.

For more information about this exciting opportunity please contact:

Matthew O’Brien
The Confidential Search Company
ConfSearch@aol.com
860-742-1555

Required Qualifications:

Professional Experience / Qualifications

  • 10+ years of finance, operations, and/or business information systems experience with at least 5 years in an academic medical center or multi-hospital health system.
  • Bachelor’s degree in Business or Finance required. MBA or Master’s preferred.
  • Strong technical knowledge and skills in a range of financial disciplines including financial and strategic planning, decision support and budgeting, and multi-year financial forecasting and plans.
  • Experience developing and executing long-term financial strategy.
  • Proven track record of success facilitating progressive organizational change and development.
  • Ability to design and implement new strategies and processes.
  • Superb analytical, strategic, and critical thinking skills.
  • Strong prioritization and problem-solving skills.
  • Excellent communication and presentation skills. Ability to partner effectively with the executive team and cross-functional leaders throughout the company and communicate thoughtfully to diverse stakeholders, including the board and external parties.
  • Ability to remain flexible in a fast-paced environment.
  • Demonstrated commitment, self-motivation, and drive.
  • Strong mentoring / coaching experience to a team of diverse levels of expertise.
  • Ability to operate as an effective tactical as well as strategic thinker.

Preferred Qualifications:

  • Experience directing Decision Support, Financial Planning & Analysis, Budgeting, Multi-year forecasting and special projects in an academic medical center.
  • Excellent communication and collaboration skills with experience supporting the business and operations units in an academic medical center.

Education Qualifications:

  • Bachelor’s degree in Business or Finance required. MBA or Master’s preferred.

Compensation/Benefits:

  • Compensation will be based on background, experience and achievement. Salary range is up to $340,000 with a 20% bonus potential (can earn up to 150% of this bonus).
  • Excellent benefits package provided and strong relocation package is available as appropriate.

Instructions for Resume Submission:

The Confidential Search Company is an executive recruiting firm that specializes in the placement of healthcare financial executives, VPs, directors, Managers and Specialists.

All inquiries will be treated confidentially.

For more information about this exciting opportunity please contact:

Matthew O’Brien
The Confidential Search Company
ConfSearch@aol.com
860-742-1555

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