Group Chief Financial Officer, Orange County Group - Orange County, CA
Company: Other Executive
Posted on: May 27, 2023
POSITION SUMMARY The Group Chief Financial Officer, Orange
County Group, will be responsible for oversight of the financial
integrity of the Orange County Market. He/she will have
responsibility for ensuring that the hospitals in the Orange County
Market run in the most cost-effective manner and that all financial
risks for the organization are managed appropriately. The Group
Chief Financial Officer has overall responsibility for safeguarding
the facility assets and ensuring the financial statements,
including the books and records, are prepared and maintained in
accordance with GAAP for all facilities within the assigned Group.
The Group Chief Financial Officer is also responsible for ensuring
compliance with company financial and accounting policies and
procedures, as well as ensuring internal controls are effective in
both design and operation, including the routine monitoring of
controls. Additionally, the Group Chief Financial Officer serves a
key member of the Facility(s) A-Teams and, as such, participates in
establishing and implementing strategic business plans for each
facility. He/she is a key member of the facility(s) management
team(s) that interacts and communicates on a regular basis with an
array of internal and external constituents, including various
regulatory bodies. FUNCTIONAL EXPECTATIONS & REQUIREMENTS: The
Group Chief Financial Officer has responsibility for the
identification and independent assessment of financial risk,
establishing and monitoring of mitigation plans, and for the
communication of financial risk and opportunity to the Group Chief
Executive Officer and Facility Chief Executive Officer(s). The
Group Chief Financial Officer is also responsible for the
monitoring of financial performance and the maintenance of
reasonable and appropriate financial plans and forecasts. The Group
Chief Financial Officer must have strong business acumen in order
to work collaboratively and effectively with home office
departments, such as Compliance, Home Office Accounting/Financial
Reporting, Information Systems, Internal Audit, Legal, Treasury and
other departments that provide support services to the facility(s).
The Group Chief Financial Officer is responsible for the monitoring
of the revenue cycle process and, along with other revenue cycle
stakeholders, the improvement of the revenue cycle process through
rate setting, charge capture, managed care negotiations, and cash
collections. The Group Chief Financial Officer is also responsible
for the evaluation and management of investments in capital
projects by applying unbiased scrutiny in determining the financial
impact and ROI of such projects and managing the capital spend in
accordance with the capital cash flow projections. As such, the
Group CFO's responsibilities are to:
- Analyze daily operating results to ensure that revenues,
expenses, and labor are within budgeted objectives; advise
department heads and administration of needed changes and
improvements in a timely manner.
- Establish and maintain sound financial controls and record
keeping; approve financial expenditures up to the level established
by the CEO.
- Keep abreast of government regulatory requirements and the
rapidly changing reimbursement environment to develop and implement
changes to policies and procedures as needed.
- Ensure that the financial operations of the facility are
carried out in an ethical, responsible manner.
- Establish and monitor the annual operating budget according to
sound budgeting principles and home office guidelines. Interface
with Human Resources and other appropriate departments in the
preparation of work force plans and salary and benefit
- Evaluate the facility's overall financial position and prepare
periodic financial and operating reports. Provide consistent and
accurate financial, accounting and reporting processes throughout
- Prepare financial forecasts and monitor performance versus
budget; consolidate results, prepare rolling 90-day forecasts, and
develop and implement cash management controls.
- Coordinate with other senior members of the leadership team in
the development of major strategic and financial plans, including
capital expenditure programs.
- Review, evaluate and ensure the effectiveness of all financial
and accounting systems in the facility. Direct the development and
implementation of new systems, policies and procedures as
- Assist in the development of new business by analyzing the
feasibility of new programs, including managed care contracts, and
advise management of the financial prospects.
- Attend promptly to the administrative details of the position
including the signing of documents, preparation of reports,
completion of performance appraisals and other employee-related
actions. ORGANIZATIONAL LEADERSHIP - EXPECTATIONS & REQUIREMENTS:
As a leader in healthcare, Tenet is committed to providing the best
possible care to every patient, with a clear focus on quality and
service. Strong leadership is essential to delivering on this
commitment, and we believe that the quality of our leaders can give
us a significant long-term competitive advantage. We want to ensure
every current and future leader in Tenet is successful, and we
support that through our selection and hiring process and by
providing coaching and training to our leaders. In this regard, we
have identified core competencies that will enable a leader to
succeed at Tenet, and have defined them within the following five
areas critical to performance: Use Astute Judgment
- Delivers year over year improved financial performance in a
complex, matrix organization.
- Demonstrates high degree of financial operational excellence
(e.g., planning, contracts, budgeting, capital financing, and cash
- Holds finance team accountable to high ethical standards (e.g.,
compliance, internal controls, audits and SOX reporting).
- Effectively gauges external factors and trends to provide a
forward-looking perspective when creating business strategy and
forecasting (e.g. FTE/AADC targets, supply Cost/APD targets, EBITDA
margin, A/R days, Operations cash flow goals).
- Demonstrates business and analytical skills to identify gaps in
the current business plan and actively refreshes the financial
outlook and strategy as needed (e.g., case management, staff/volume
adjustment, net revenue management). Shape Strategy
- Acts as full partner at facility, market and home office level
in pursuit of new revenue generation opportunities (e.g., improve
payer mix, maximize reimbursement, prudent acquisition and merger
strategies, reduce bad debt, grow EBITDA margin).
- A highly visible leader who works with team to identify
challenges and capitalize on opportunities (e.g., department
improvement plans, capital project prioritization and vetting,
manpower planning accuracy, supply management efficiency).
- Acts as a thought partner for CEO and thought leader in
promoting own perspective and ideas in a bold and respectful manner
(e.g., cost containment, acquisition/divestiture, ACOs, physician
strategies, capital forecasting, productivity improvement). Apply
- Demonstrates excellence in formal and interpersonal
communications that results in financial understanding and
"ownership" at all organizational levels.
- Evidences collaborative leadership to engage managers and
physicians in improving short- and long-term results (e.g.,
department improvement plans, supply inventory management, clinical
informatics implementation, labor management and reporting
- Acts as an intuitive thinker willing to take prudent and
necessary risk to achieve balanced results (e.g., cost, growth,
people, service, quality).
- Performs as a financial consultant to the facility. Drive
- Establishes realistic and aggressive financial goals, targets,
and metrics consistent with home office and facility strategic and
operational objectives (e.g., meet upfront collection and cash
goals, reduce A/R days year over year, meet 3.0 days in DNFC Gross
A/R, meet HIM coding compliance accuracy for all patient types,
manage a 24/7 HIM Department, attain HIM coding quality
- Sets and maintains fiscal year pace and rigor for facility
management (e.g., business planning and reporting cycle, CFO and
Controller sign off on monthly balance sheet reconciliation with
unresolved items less than 30 days old).
- Builds consensus and commitment across disparate people with
often competing priorities.
- Continually analyzes and interprets financial performance and
recommends and/or executes corrective action as needed (e.g.,
managed care and physician contracts, and strategic
- Maintains high quality standards (e.g., oversee preparation of
financial statements, reports, business plans and manpower plans;
ensures 5 bar internal audits with no Sarbanes-Oxley items;
maintains and addresses monthly internal control checklist).
Develop Organizational Talent
- Shapes roles and assignments in a way that maximizes individual
capability and performance contribution.
- Regularly provides performance and professional development
feedback, coaching and guidance to improve performance and build
career potential (e.g., all direct reports receive regular feedback
and well managed development plans).
- Engages in team bench strength assessments and recruitment or
promotion action plans that meet current/future talent requirements
(e.g., Controllers, ACFO developed for CFO promotion readiness).
CANDIDATE EXPERIENCE, ATTRIBUTES AND EDUCATION REQUIREMENTS At
least ten years of progressive financial healthcare or equivalent
experience in the areas of general accounting; operations;
financial systems; financial statement preparation; review and
analysis; multi-discipline management experience; and ethics.
- Good organization skills with the ability to prioritize
workload and successfully manage all financial activities.
Resilience to working successfully under pressure.
- Ability to convert complex finance, operational, and compliance
issues into terms and concepts that are easily disseminated
throughout all levels of the organization.
- A referenceable track record in facility finance, defining the
issues and making the decisions to generate improved financial
- Participation, as well as supervisory experience, in
negotiating managed care contracts.
- Substantial financial management experience including financial
operations, strategic and financial planning, contracts,
reimbursement, budgeting and capital financing in a complex
- A thorough understanding of healthcare trends with the ability
to anticipate opportunities.
- Successful experience as a Chief Financial Officer in a highly
competitive market. Professional Attributes
- A cooperative approach to problem-solving with the capability
of building consensus and support, working across functional lines
to engage disparate resources to work together to achieve desired
- A broad financial thinker and team player who works well with
ambiguity and is able to transfer the vision/mission of the
organization into a focused financial strategy and detailed
practical plan for the future.
- An intuitive thinker who generates ideas and recommends new
and/or modified approaches. Personal Attributes
- An individual of highest personal and professional integrity,
principle and knowledge, earning respect and support when making
difficult decisions and choices. Able to establish immediate
credibility with peers, senior leadership and medical staff.
- Must listen actively and accurately, encourage input from
others. Provide clear directions. Maintain an ongoing dialogue with
employees to ensure continual progress.
- Someone with the ability to work collaboratively with
individuals critical to the successful execution of financial
- Excellent oral and written presentation skills. Articulate,
good conversationalist and possessing a gracious demeanor.
Education/Certifications A Bachelor's degree in Finance or
Accounting is required. An MBA, MHA and/or CPA designation strongly
preferred. Compensation A competitive compensation program will be
tailored to the selected candidate. Base salary will be
supplemented by a performance bonus and comprehensive, well-rounded
benefits program, which includes relocation assistance. Travel
Minimal. Tenet complies with federal, state, and/or local laws
regarding mandatory vaccination of its workforce. If you are
offered this position and must be vaccinated under any applicable
law, you will be required to show proof of full vaccination or
obtain an approval of a religious or medical exemption prior to
your start date. If you receive an exemption from the vaccination
requirement, you will be required to submit to regular testing in
accordance with the law. Pay Range: $303,410 - $455,000 Individual
wages are determined based upon a number of factors including, but
not limited to, an employee's qualifications and experience
*AONE19* #LI-JA2 2305025083
Keywords: Other Executive, Placentia , Group Chief Financial Officer, Orange County Group - Orange County, CA, Executive , Placentia, California
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