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Chief Financial Officer, MemorialCare Medical Foundation

Company: CTI Education Group
Location: Fountain Valley
Posted on: January 10, 2021

Job Description:

Job Description - Chief Financial Officer, MemorialCare Medical Foundation (MEM004502) Job Description Chief Financial Officer, MemorialCare Medical Foundation - ( MEM004502 ) Description POSITION SUMMARY: Provide senior financial oversight and direction to the Memorial Medical Foundation (MCMF) through maintaining internal controls and reporting systems which provide accurate and timely financial information to management for decision making. Monitors a variety of financial activities, including budgeting, analysis, accounting, and preparation of tax returns for the organization. In conjunction with leadership team, actively participates in strategic direction of the MCMF through incorporation of market analysis, managed care initiative, and trends in healthcare to allow for successful attainment of mission and fulfillment of vision. Implements and ensures compliance with MHS system wide financial standards, policies and procedures. ESSENTIAL FUNCTIONS: Strategic: Facilitates MCMF strategic planning using MHS and MCMFfinancial plan, key managed care information/initiatives, decision supportanalysis and updates in government reimbursement. Assist with design and direction of system wide standardoperational/performance reports. Directs use of standards reports to facilitateorganization's operational improvement and decision making. Develops and designs fiscal objectives for facility inharmony with MHS fiscal objectives. Attracts, develops and retains strong customer focusedmanagement team for all areas within Finance and Claims Division. Develops ongoing expansion of information technology withinthe finance function and champion innovation and efficiency improvementsthrough the use of technology. As a member of the executive management team, participatesin the development and implementation of the operating and administrativepolicies, potential new programs to facilitate long and short-term strategies,and financial plan objectives, including major financial plans such as capitalexpenditures. Operations: Works closely with Department Heads and Management Personnelto insure compliance with organization's financial systems and budgets. Reviews monthly financial and operation reports reflectingthe overall financial position of the organization by department. Presentsfinancial reports at Board of Directors and Leadership meeting. Establishes budgets and insures compliance so theorganization continues to meet or exceed budgeted operating margin. Reviews physician compensation, which includes bonuses andother incentives. Collaborates with Chief Medical Officer on establishingpolicies and procedures for physician compensation. Responsible for oversight of PSA calculations, managed caredata analysis, IBNR, shared risk, capitation and DMHC financial reporting. Establishes organization's financial, and accounting systems,policies, and procedures. Determines availability of funds for approved expendituresand maintains adequate cash flow. Coordinates with other members of management in developingmajor financial plans including capital expenditure programs. Receives inputfrom leadership team, providing assistance and establishes control so thebudget reflects equitable distribution of funds with established priorities. Monitors performance reports to determine effectiveness ofchanges and recommends revisions when positive results are not achieved. Monitors financial data to insure compliance with Federaland State laws and the filing of proper reports when necessary. Monitors and reports deviations from approved budgets andrecommends corrective measure; investigates and recommends methods of financingcapital expenditures. Provide input with respect to valuations completed forpotential asset purchase agreements. Engages with Joint Venture partners to ensure compliancewith charitable care policy and provide oversight to ensure accurate financialreporting is consolidated and/or reported into MCMF results. Qualifications POSITION REQUIREMENTS: Education/Licensure: Bachelor's degree in Health Care Administration, Finance, Accounting or related field. MBA, CPA or equivalent experience preferred. Experience: 5-10 years prior financial management experience and demonstrated success in financial operations in a health care setting. Demonstrated experience in effective problem solving and uses good judgment and demonstrates sound analytical skills. Proven ability to manage and motivate and effective team and staff at all levels. Ability to meet tight deadlines and perform effectively in the midst of changing priorities. Knowledge: In depth knowledge of managed care and capitation reimbursement concepts, understanding of government reimbursement and regulations. Working knowledge of reserve methodologies for contractual allowances, and actuary methods for Outside Medical expenses, and self-insured reserves. Understanding of cost accounting methodologies and decision support analytical tools. Understanding of billing and claims functions and cash flow implications. Understanding of materials management function. Working knowledge of for profit and nonprofit accounting and Financial Accounting Standard Board (FASB) accounting rules. Primary Location : United States-California-Fountain Valley

Keywords: CTI Education Group, Fountain Valley , Chief Financial Officer, MemorialCare Medical Foundation, Executive , Fountain Valley, California

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