Chief Financial Officer (CFO)

Position: Chief Financial Officer (CFO)

Department: Administration                  

Reports to: Chief Executive Officer

FLSA: Exempt                                      

Supervision Responsibilities: Staff Acct, AR Mgr., AA-A/P Coordinator

Salary Range: Negotiable                                                                                                     

Date of Revision: December 11, 2024

The Chief Financial Officer (CFO) of our health center system is a strategic leader responsible for overseeing all financial aspects of the organization. The CFO will ensure the financial health and sustainability of the health center by managing budgeting, forecasting, financial reporting, and compliance with regulatory requirements. This role will also involve working closely with the CEO, senior leadership team, and the Board of Directors to develop financial strategies that align with the organization’s mission to provide accessible and quality healthcare to the community. This position has Ryan White Title I related duties and responsibilities relative to the provision of care to persons living with HIV/AIDS.  Adheres to HIPAA compliance and guidelines regarding patient confidentiality.

Education/Experience:

Education - Possession of a bachelor’s degree in accounting or business administration with an accounting concentration from an accredited college or university and experience five (5) to seven (7) years’ progressively responsible experience in accounting, of which two (2) years were in a supervisory capacity.

Knowledge: Principles, practices, and methods of modern accounting and auditing; principles and practices of financial administration including budgeting and reporting; computer systems management; application of automated accounting in the maintenance of financial records and administration; budget preparation, program analyses, and revenue forecasting; principles and practices of organization, administration budget and management; and accounting reports required by state and federal regulations.

Skill: Planning, coordinating, and directing complex financial operations; developing, revising and installing accounting systems and procedures; interpreting and applying appropriate laws and regulations; preparing varied financial statements, reports, and analyses; communicating clearly and concisely, orally and in writing; selecting, supervising, training an evaluating assigned staff.

Licenses: Possession of a valid Virginia Motor Vehicle operator’s license, and willingness to use personal vehicle in the course of employment.

Preferred Qualifications: Possession of a Certified Professional Accountant (CPA) Certificate.

Key Responsibilities:

1. Financial Management:
• Oversee the preparation and execution of annual budgets, forecasts, and financial plans in alignment with the health center's strategic objectives.
• Ensure accurate, timely, and comprehensive financial reporting, including balance sheets, income statements, cash flow statements, and other financial reports as needed.
• Monitor the financial performance of the organization, identifying trends and recommending corrective actions to maintain financial health.
2. Compliance and Regulatory Oversight:
• Ensure compliance with all federal, state, and local regulations and laws, including healthcare finance regulations, tax laws, and reporting standards.
• Maintain an understanding of changes in healthcare policies, reimbursements, and funding sources (e.g., Medicaid, Medicare, grants, etc.).
• Coordinate and lead audits and manage relationships with external auditors.
3. Cash Flow and Treasury Management:
• Oversee the management of cash flow, banking relationships, investments, and working capital.
• Ensure the appropriate allocation of resources for operational needs, capital projects, and growth initiatives.
• Implement and monitor systems to manage accounts payable and receivable to optimize cash flow.
4. Financial Strategy and Planning:
• Collaborate with the CEO and senior leadership team to develop long-term financial strategies that support the health center’s mission, vision, and growth objectives.
• Provide financial analysis and recommendations for new business initiatives, service line expansions, and partnerships.
• Conduct risk assessments and develop strategies for minimizing financial risks to the organization.
5. Team Leadership and Development:
• Lead, manage, and mentor the finance team, ensuring high performance and professional development.
• Foster a culture of accountability, transparency, and collaboration within the finance department.
• Ensure proper training and development opportunities for finance staff.
6. Grant Management and Fundraising:
• Manage and oversee the financial aspects of grants, funding, and other philanthropic activities.
• Work with the senior leadership team to track fundraising efforts, grant compliance, and restricted funds.
• Ensure that financial reporting aligns with the requirements of grantors and donors.
7. Stakeholder Engagement and Communication:
• Serve as a key financial liaison between the Board of Directors, CEO, and management team.
• Present financial reports and insights to the Board of Directors and other stakeholders, providing clear, data-driven recommendations for decision-making.
• Communicate financial performance and strategy to internal and external stakeholders in a clear, transparent manner.

• Patient Centered Medical Home - A patient-centered medical home is a model of care that strengthens the clinician-patient relationship by replacing episodic care with coordinated care and a long-term healing relationship. Each patient has a relationship with a primary care clinician who leads a team that takes collective responsibility for patient care, providing for the patient’s health care needs and arranging for appropriate care with other qualified clinicians. The medical home is intended to provide more personalized, coordinated, effective and efficient care. A medical home achieves these goals through a high level of accessibility, providing excellent communication among patients, clinicians and staff and taking full advantage of the latest information technology to prescribe, communicate, track test results, obtain clinical support information and monitor performance.   Team Approach - A team-based approach to care is being emphasized by our organization and by the very nature of your position within the organization.  Managing patient care is a team effort that involves both clinical and nonclinical interacting with patients and working to achieve slated objectives.  (e.g., physicians, dentists, nurse practitioners, physician assistants, nurses, medical assistants, dental assistants, educators, schedulers, patient access representatives, telephone operators, administrative staff, etc. – (this list is not meant to be an exhaustive list, but rather is illustrative of clinical and non-clinical staff).