Chief Financial Officer(CFO)

Overview

Under the administrative direction of the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) is the highest-level financial executive. The CFO has complete oversight of all fiscal functions within AHMC Anaheim Regional Medical Center (ARMC) including the development, interpretation, coordination, and administration of the hospital’s policies on finance, accounting, insurance, financial / accounting systems, internal controls, budgeting, and auditing.

The CFO oversees the planning and direction of all finances, formulates long-range goals and plans for expansion, and manages, directs, plans and coordinates the functions and activities of assigned areas. The CFO manages the financial affairs of the hospital according to the business unit goals, sound business practices, corporate and hospital policies and procedures, and government regulatory requirements. The incumbent ensures efficient utilization of resources, maintains compliance with federal, state, local, and government agencies, and fulfills the Mission of AHMC Anaheim Regional Medical Center.

Tasks / Duties / Responsibilities

Plans, develops, implements, directs, and evaluates ARMC’s fiscal function and performance.

Provides timely and accurate analysis of budgets, financial reports, and financial trends to the CEO and the Board of Directors.

Participates in the financial and functional decision-making processes necessary for the successful attainment of the hospital’s mission and strategic plan.

Collaborates with the Administrative Team to develop financial goals and objectives.

Provides financial expertise in the planning of new services and expansion of existing services to promote revenue growth.

Provides proactive, sound guidance regarding management of assets and financial trends within the facility.

Collaborates with department directors and patient care executives to implement financial plans and productivity benchmarks, monitoring progress toward financial goals.

Develops financial plans and authorizes operating budgets in accordance with established goals.

Monitors capital asset expenditures and depreciation; prepares annual operating budgets with input at the departmental level, including capital budgets and cash flow projections.

Prepares hospital operating and capital budgets based on past, current, and anticipated expenditures and revenues; directs compilation of data, preparation of financial and operating reports.

Devises and implements new or modified accounting systems to provide complete and accurate records of hospital assets, liabilities, and financial transactions.

Keeps up-to-date with federal and state statutes surrounding participation in government programs including EMTALA, Medicare fraud and abuse, Stark legislation, and IRS guidelines.

Directs the facility’s information resources and plans; ensures optimal data security systems are maintained.

Develops and implements policies and procedures ensuring goals and objectives are consistent with the hospital’s mission.

Prepares detailed analyses of financial statements to reflect variances in income, expenditures, and capital asset values; recommends means of reducing operating costs and increasing revenues.

Arranges audits of hospital accounts; prepares or directs preparation of annual tax returns, OSHPD reports, Medicare and Medi-Cal cost reports.

Appraises and evaluates overall operations; reports results to the CEO.

Establishes clear objectives and goals for all supervised departments; maintains adequate staff of qualified personnel.

Directs personnel management activities; guides subordinate managers in hiring, training, performance appraisal, and discipline; makes recommendations to the CEO regarding employee matters.

Manages staff morale, absenteeism, and turnover.

Ensures subordinate development and succession planning.

Participates in hospital-wide strategic planning activities to coordinate health services delivery.

Monitors and evaluates new or revised regulatory agency requirements; ensures compliance.

Maintains compliance with hospital regulations and accrediting body rules by initiating required changes.

Possesses general knowledge of wage and hour regulations, record keeping, and compliance with company policies.

Works with Human Resources to administer labor proceedings.

Performs other duties as assigned.

Education / Training / Experience

Bachelor’s degree in a related field is required; Master’s in Business Administration or closely related field is required.

Knowledge of generally accepted Accounting Principles and Managed Care contracting.

A minimum of five years of progressive administrative experience in an acute care hospital setting overseeing multiple areas; at least ten years’ experience in the healthcare industry.

Comprehensive knowledge of regulatory requirements affecting acute care hospitals.

Experience with accreditation / regulatory activities, performance improvement, core measures, and sentinel events requirements; proven track record as a CFO in an acute care hospital setting.

Five years in an executive‑level position required.

Excellent written and verbal communication and computer skills.

Experience in budget preparation and operation.

Compliance

Code of Conduct

Organization’s Policies and Procedures

Local, State, and Federal Regulations

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