Chief Financial Officer

JOB TITLE: Chief Financial Officer

REPORTS TO: Chief Executive Officer

SUMMARY: The Chief Financial Officer (CFO) serves as a key member of the Executive Leadership Team and is responsible for the overall financial management, fiscal integrity, accountability, and long-term financial sustainability of Highland Health Systems (HHS).

The CFO provides strategic financial leadership and oversees all financial operations, including accounting, budgeting, financial reporting, revenue cycle management, payroll, financial planning, internal controls, regulatory compliance, and financial risk management.

The CFO is responsible for ensuring the accuracy, completeness, and timeliness of financial information while maintaining compliance with applicable federal, state, and local regulations, funding requirements, and generally accepted accounting principles (GAAP).

The position requires strong leadership, sound professional judgment, integrity, accountability, and the ability to work collaboratively with the CEO, Executive Leadership Team, Board of Directors, auditors, and external financial partners.

EXAMPLE OF DUTIES & RESPONSIBILITIES:

The following are examples of duties and responsibilities expected of the Chief Financial Officer. This list is not all-inclusive, and additional responsibilities may be assigned by the Chief Executive Officer.

1. Financial Management and Oversight

· Direct and oversee the daily financial operations of Highland Health Systems.

· Ensure all financial transactions are accurately recorded and properly classified.

· Review and approve financial reports, journal entries, reconciliations, and other accounting activities.

· Monitor organizational revenue, expenditures, operating accounts, and financial reserves.

· Identify financial discrepancies and ensure appropriate corrective actions are taken.

· Maintain effective financial controls to safeguard organizational assets.

· Ensure the accuracy and integrity of the organization's financial records.

1. Financial Reporting and Analysis

· Prepare, review, and present monthly, quarterly, and annual financial statements.

· Provide the CEO with accurate and timely financial information regarding the organization's financial condition.

· Analyze revenue and expenditure trends and explain significant financial variances.

· Reconcile financial reports with bank balances, accounting records, and audited financial statements.

· Prepare financial projections and cash flow analyses to assist executive leadership with decision-making.

· Identify potential financial concerns and communicate them promptly to the CEO.

· Ensure that all financial reports are supported by accurate documentation.

1. Budget Development and Monitoring

· Coordinate the preparation of the organization's annual operating and capital budgets.

· Work with department directors to establish and monitor departmental budgets.

· Review monthly budget-to-actual financial performance.

· Identify areas where expenses exceed budgeted amounts and recommend corrective action.

· Evaluate the financial impact of proposed programs, staffing changes, and organizational expansion.

· Provide financial recommendations regarding cost containment and operational efficiency.

1. Healthcare Revenue and Reimbursement

· Monitor Medicaid, Medicare, commercial insurance, and other third-party reimbursement.

· Oversee financial aspects of the organization's revenue cycle, including billing, collections, and accounts receivable.

· Monitor CCBHC Prospective Payment System (PPS) reimbursement and related financial reporting.

· Review reimbursement trends and identify opportunities to improve revenue collection.

· Ensure appropriate financial reporting for mental health, substance use, developmental disabilities, primary care, and pharmacy services.

· Work collaboratively with clinical and billing leadership to address reimbursement concerns.

1. Cash Management and Financial Accountability

· Monitor daily and monthly cash balances and organizational cash flow.

· Ensure sufficient funds are available to meet payroll, operating expenses, and other financial obligations.

· Review bank reconciliations and investigate unexplained differences.

· Monitor operating reserves and provide recommendations regarding financial stability.

· Ensure timely payment of authorized financial obligations.

· Report significant financial risks or cash flow concerns directly to the CEO.

1. Auditing and Internal Controls

· Coordinate annual independent financial audits and other authorized financial reviews.

· Ensure auditors receive complete and accurate financial documentation.

· Review audit findings and develop corrective action plans as appropriate.

· Establish and maintain effective internal financial controls and segregation of duties.

· Ensure accounting systems maintain appropriate documentation and audit trails.

· Investigate financial discrepancies and report significant concerns to the CEO.

· Ensure compliance with applicable accounting standards, funding requirements, and organizational financial policies.

1. Supervision and Personnel Management

· Provide direct supervision and leadership to assigned financial and accounting personnel.

· Establish clear performance expectations and work assignments.

· Monitor employee performance and ensure assigned duties are completed accurately and timely.

· Conduct performance evaluations and provide appropriate feedback.

· Address employee performance concerns and implement corrective action when necessary.

· Ensure employees receive appropriate training and professional development.

· Maintain a professional, respectful, and productive work environment.

· Demonstrate fairness, consistency, and accountability in supervisory decisions.

· Ensure employees comply with organizational policies and established financial procedures.

1. Executive Leadership and Professional Responsibilities

· Serve as a member of the Executive Leadership Team.

· Advise the CEO regarding financial operations, organizational risks, and financial planning.

· Participate in administrative meetings and strategic planning activities.

· Demonstrate professional judgment, integrity, honesty, and ethical conduct.

· Maintain effective working relationships with executive leadership, department directors, employees, and external stakeholders.

· Communicate financial information clearly, accurately, and professionally.

· Maintain confidentiality regarding financial, personnel, and organizational matters.

· Follow established organizational policies and directives from the CEO.

· Represent Highland Health Systems professionally in all financial and administrative matters.

1. Financial Systems and Technology

· Oversee the accuracy and integrity of the organization's accounting software and financial information systems.

· Ensure financial transactions are entered accurately and supported by appropriate documentation.

· Maintain appropriate internal controls and access permissions for financial systems.

· Review financial system reports to identify discrepancies or unusual transactions.

· Work collaboratively with Information Technology personnel to maintain financial data security.

· Recommend improvements to accounting processes and financial reporting systems.

1. Grants, Contracts, and Regulatory Compliance

· Monitor financial requirements associated with federal, state, and local funding.

· Ensure grant expenditures are properly documented and reported.

· Oversee financial compliance with applicable Alabama Department of Mental Health requirements.

· Review financial components of contracts and funding agreements.

· Assist in developing financial budgets for grant applications and new programs.

· Ensure appropriate financial documentation is maintained for regulatory reviews and audits.

1. Other Responsibilities

· Attend Board of Directors and committee meetings as requested by the CEO.

· Provide financial presentations and reports to the Board of Directors as directed.

· Maintain current knowledge of healthcare finance, accounting standards, and regulatory requirements.

· Recommend financial policies and procedures to strengthen organizational accountability.

· Perform other related duties as assigned by the Chief Executive Officer.

DESIRED KNOWLEDGE, SKILLS AND ABILITIES:

The Chief Financial Officer must possess the knowledge, skills, and abilities necessary to effectively manage the financial operations of Highland Health Systems and provide sound financial leadership to the organization.

Knowledge of:

1. Generally Accepted Accounting Principles (GAAP), financial accounting practices, and financial reporting requirements.
2. Principles and practices of financial management, budgeting, financial forecasting, and cash flow management.
3. Healthcare financial operations, including Medicaid, Medicare, commercial insurance, and third-party reimbursement.
4. Financial management requirements associated with Certified Community Behavioral Health Clinics (CCBHC), including Prospective Payment System (PPS) reimbursement.
5. Nonprofit financial management, governmental accounting requirements, grant administration, and regulatory compliance.
6. Financial auditing procedures, internal controls, risk management, and appropriate segregation of financial duties.
7. Payroll administration, employee benefits, accounts payable, accounts receivable, and general ledger accounting.
8. Financial reporting requirements established by the Alabama Department of Mental Health and other applicable regulatory agencies.
9. Accounting software, computerized financial management systems, and Microsoft Office applications, particularly Excel.
10. Principles of effective employee supervision, performance management, organizational leadership, and personnel administration.
11. Financial policies and procedures necessary to protect organizational assets and maintain financial accountability.
12. Applicable federal and state laws, regulations, and standards governing healthcare financial operations.

Skills in:

1. Preparing, reviewing, interpreting, and presenting accurate financial statements and financial reports.
2. Analyzing complex financial information and identifying discrepancies, trends, and areas of financial concern.
3. Developing and monitoring organizational budgets, financial projections, and cash flow forecasts.
4. Reconciling financial accounts and ensuring consistency between accounting records, financial reports, and audited financial statements.
5. Identifying financial risks and developing practical recommendations to improve financial performance.
6. Effectively supervising, directing, motivating, and evaluating employees.
7. Providing clear instructions, establishing performance expectations, and holding employees accountable for assigned responsibilities.
8. Communicating financial information clearly and professionally to the CEO, Executive Leadership Team, Board of Directors, auditors, and other stakeholders.
9. Exercising sound judgment, critical thinking, and effective problem-solving.
10. Managing multiple priorities, meeting deadlines, and maintaining accuracy under pressure.
11. Developing effective working relationships and collaborating with employees across departments.
12. Using accounting software and financial management systems to generate accurate and reliable financial information.
13. Maintaining professional conduct, confidentiality, and ethical standards in all business activities.
14. Addressing employee performance issues and resolving workplace concerns in a timely, fair, and professional manner.

Ability to:

1. Independently manage and oversee the financial operations of a complex healthcare organization.
2. Ensure financial information is accurate, complete, reliable, and submitted within established deadlines.
3. Interpret financial statements and explain the organization's financial condition in a clear and understandable manner.
4. Identify financial discrepancies, determine their causes, and implement appropriate corrective actions.
5. Exercise independent professional judgment while remaining accountable to the Chief Executive Officer.
6. Effectively supervise financial personnel, delegate responsibilities, monitor performance, and ensure accountability.
7. Make sound financial recommendations based on accurate information, established accounting principles, and organizational priorities.
8. Recognize potential financial risks and communicate significant concerns promptly to the CEO.
9. Maintain appropriate internal controls and ensure compliance with financial policies, procedures, and regulatory requirements.
10. Work cooperatively and professionally with executive leadership, employees, Board members, auditors, and external agencies.
11. Demonstrate honesty, integrity, ethical behavior, and professionalism in carrying out assigned responsibilities.
12. Maintain confidentiality of sensitive financial, personnel, and organizational information.
13. Adapt to changes in healthcare reimbursement, financial regulations, organizational operations, and technology.
14. Provide leadership and direction during organizational growth, financial challenges, and operational changes.
15. Accept responsibility for financial operations and the performance of assigned personnel, including functions delegated to others.
16. Address difficult situations, disagreements, and personnel matters professionally and constructively.
17. Establish priorities, organize work effectively, and ensure financial responsibilities are completed accurately and timely.
18. Maintain a high level of accountability, transparency, and responsiveness to the CEO and organizational leadership.
19. Evaluate the financial impact of proposed programs, services, staffing changes, and capital expenditures.
20. Perform assigned responsibilities with minimal supervision while maintaining effective communication with the CEO.

Professional and Leadership Expectations

The Chief Financial Officer is expected to demonstrate a high level of professional competence, sound judgment, personal integrity, and accountability. As a member of the Executive Leadership Team, the CFO must consistently model appropriate professional behavior, maintain effective working relationships, and demonstrate the ability to lead and supervise employees successfully.

The CFO must be capable of independently identifying financial and operational concerns, developing appropriate solutions, and communicating recommendations to the Chief Executive Officer in a timely and professional manner.

The CFO is responsible for ensuring the accuracy, reliability, and integrity of financial information and remains accountable for the effective performance of financial operations, including responsibilities delegated to subordinate employees.

Must demonstrate the ability to work well with staff and clients in a polite, respectful and dignified manner.

QUALIFICATIONS:

· Bachelor’s degree Bachelor's degree from an accredited college or university in Accounting, Business Administration, Finance, Management, Public Administration, or a closely related field.

· Accounting Coursework: Must have successfully completed a minimum of three (3) college-level accounting courses.

· Accounting Experience: Minimum of two (2) years of progressively responsible professional accounting or financial management experience.

· Healthcare Experience: Experience working in healthcare financial operations, accounting, reimbursement, budgeting, or financial management is required.

Experience in behavioral healthcare, community mental health, or nonprofit healthcare organizations is strongly preferred.

· Supervisory Experience: Demonstrated ability to supervise, manage, and direct employees effectively, including assigning responsibilities, evaluating performance, providing professional guidance, and maintaining accountability.

· Technology: Proficiency in computerized accounting systems, financial reporting software, Microsoft Excel, and other financial management applications.

Pay: $130,000.00 - $190,000.00 per year

Benefits:

• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Professional development assistance
• Referral program
• Retirement plan
• Vision insurance

Application Question(s):

• Accounting experience with healthcare?
• Bachelor's degree from an accredited college or university in Accounting, Business Administration, Finance, Management, Public Administration, or a closely related field

Work Location: In person