Director Finance MedStar Family Choice

General Summary of Position

Key financial leader with accountability for MedStar Family Choice - DC. The Director of Finance is key personnel and responsible for leading, managing and / or coordinating MFC-DC's Medicaid Finance strategy, financial analysis, planning, regulatory relationships, financial operations, financial regulatory reporting and related activities in the District of Columbia. The Director of Finance will also have responsibility, ad-hoc reporting, budgeting, and forecasting. Works with the Finance team and partners with MedStar centralized accounting and finance teams to prepare for presentation of financial results, budget, and financial forecasts to senior management.

Primary Duties and Responsibilities

Contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards, and safety standards. Complies with governmental and accreditation regulations. Consistent with MFC's strategic and operating plans, develops departmental goals, objectives, policies and procedures.

Assists in building and retaining a high-caliber professional team essential to a high performance organization. Assists in motivating and engaging staff, leading change, building trust and consensus, and appropriately delegating and empowering Financial Analysts.

Advocates for the quality and financial sustainability of the Medicaid business.

Attends regulatory meetings as requested, and coordinates external audits initiated by regulatory agencies.

Serves as primary liaison between MFC-DC and the Regulatory Agencies regarding financial items.

Maintains current knowledge of the Medicaid managed care and risk industry, and researches potential policies, practices, and trends. Understands MFC's competitors and is aware of how strategies and tactics work in the marketplace.

Develops spending and business initiative recommendations based on financial trends.

Oversees preparation of financial regulatory filings on a monthly, quarterly and annual basis. Obtains and analyzes financial reports filed by other managed care organizations to compare MFC's performance.

Provides review and input into trend data supporting the preparation and analysis of incurred but not reported (outstanding claims liability) estimates on a monthly basis for the DC operations. Analyzes results, coordinates research and actuarial verification of estimates, and serves as a point of contact with independent actuary. Prepares recommendations for senior management regarding appropriate medical expense accruals.

Oversees the preparation and review of internal financial and operational reports which include, but are not limited to, revenue, claims, clinical, and membership information. Performs ad-hoc analysis and develops various other tools to effectively contribute to the business goals of MSFC on a monthly and as needed basis.

Prepares monthly financial statements and related financial analyses and presentation materials for the executive management team including board presentations. This includes preparation of monthly variance analyses and participation in a monthly financial review teleconference with MedStar Health to provide explanations for financial results.

Oversees and supports the preparation of the annual operating and capital budget and all financial forecasts for MFC - DC. Provides monthly actual vs. budget reports to leadership. Prepares explanations of variances and prepares monthly narrative of operating results and quality of earnings reports.

Supervises the preparation and maintenance of records, files and other documents. Maintains departmental reports and records and collects statistical data for administrative and regulatory purposes.

Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings, serves on committees and represents the department and hospital / facility in community outreach efforts as appropriate.

Promotes a collaborative working relationship with all members of MedStar Health's finance departments, including; Finance; Accounting; Payment Services; and Payroll. Specifically, serves other teams on the following major area of focus : annual forecast and budget; monthly payroll and accrued expense journal entries; time sensitive payments and credit holds; and payroll allocations.

Minimum Qualifications

Education

Bachelor's degree in Finance / Accounting or related field of study required.

Master's degree in Business Administration, Health Administration or related field preferred.

Experience

8-10 years progressively responsible experience in finance / accounting in managed care / health plan organization, healthcare delivery systems, or health insurance required.

Strong knowledge of Medicaid Managed Care required.

Licenses and Certifications

Certified Public Accountant (CPA) preferred.

Knowledge, Skills, and Abilities

Strong leadership skills and commitment to a team approach.

Familiarity with management reporting, metrics and goal setting.

Ability to work independently, achieve tight deadlines and take initiative on multiple projects.

Excellent knowledge of Payor Regulations, GAAP and health plan financial performance metrics.

Good knowledge of computer and accounting software (PeopleSoft, Hyperion), Microsoft Excel and Word, as well as data analytic skills.

High-level problem‑solving skills.

Ability to identify and propose solutions to moderately complex problems, such as understanding causes of variation in capitation revenue or medical expense.

Excellent verbal and written communication skills.

This position has a hiring range of $111,779 - $212,513

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