Chief Financial Officer

Description

The Chief Financial Officer has primary responsibility for the planning, implementation, managing and oversight of all finance-related activities of St. Croix Health, including business strategy, planning, budgeting, forecasting and negotiations.  This position is responsible for the direction and oversight of the financial management system and the safeguarding of the organization’s tangible assets. This position is charged with external financial reporting, managerial accounting, treasury, budget, tax, audit, internal controls and asset management. In addition, this position plays a key role in representing SCH’s interest on boards and committees of partnering and affiliated organizations. This position works closely with the Finance Committee of the Board of Trustees and reports directly to the Chief Executive Officer.  

Requirements

• Steers the financial oversight for the organization and develops organizational business strategies providing fiscal and budgetary expertise.   
• Works with the President/CEO and other executives to coordinate planning and establish priorities for the planning process. 
• Participates in the strategic planning process in accordance with the organization’s mission and values, including creation of the plan and realistic goal setting. 
• Studies long-range economic trends and projects their impact on future growth in sales and market share. 
• Compares billing and profit projections to actual figures and budgeted expenses to actual expenses; makes or oversees any necessary adjustments to future projections and budgets. 
• Reviews financial planning process and suggests improvements to current methods. 
• Reviews, interprets, analyzes, and communicates financial reports and data to the Finance Committee, Board of Trustees and management.  
• Exhibits considerable knowledge of Medicare cost principles and practices, understands implications of changes in Medicare and Medicaid rules, can communicate implications of legislative changes, and manage the annual report and audit processes. 
• Leads and collaborates with teams in aligning business plans with financial strategies. 
• Proactively involves all key stakeholders, monitors progress, addresses challenges, and completes work on time and on budget. 
• Analyzes operations to identify areas in need of reorganization, downsizing, or elimination including identifying opportunities for expansion into new service areas. 
• Provides cost, revenue, and return on investment projections for various service lines; coordinates with teams to provide support for financial analysis of services lines or programs. 
• Develops financial management framework philosophies, policies, and procedures. 
• Establishes and ensures adherence to proper accounting controls and procedures. 
• Directs the preparation of all financial statements, including income statements, balance sheets, shareholder reports, tax returns, and governmental agency reports. 
• Oversees the process for preparing and approving the annual Operating and Capital Budgets for the Organization. 
• Develops, interprets, coordinates and administers the organization’s policies to control the receipt of revenue, expenditure of funds and conservation of assets. 
• Manages SCH’s financial obligations in negotiations of contracts, payer relations, and pricing strategies. 
• Ensures SCH’s financial compliance and stewardship. 
• Manages investment of funds and works with investment bankers to raise additional capital required for growth and expansion. 
• Compares revenue, expense, and profit projections to actual figures and budgeted expenses to actual expenses; makes or oversees any necessary adjustments to future projections and budgets. 
• Keeps abreast and ensures compliance with CMS regulations, Federal congressional actions and deliberations, and state and local decisions influencing fiscal management of the healthcare organization.   
• Coordinates financial and governmental audits and provides recommendations for procedural improvements. 
• Manages banking relationships and maintains best practice in banking strategies and procedures. 
• Manages and provides oversight to SCH’s tax matters include real estate, personal property, and sales and use as well as preparation and filing of 990 and other tax liability reports. 
• Engages with community groups and key stakeholders. 
• Represents SCH in relationships with other health care agencies and organizations.  
• Represents SCH on boards and committees of partnering and affiliated organizations in which SCH has a financial or otherwise vested interest.  Functions as the CFO for these SCH boards and committees overseeing financial framework, financial audits/budgets and tax implications. 
• Serves as Officer of the Corporation. 
• Carries out the vision, mission, and strategic goals of the organization as outlined by its articles, bylaws and philosophy of maintaining independence including situations that involve representing the organization in legal matters, addressing conflict of interest concerns, execution of documents and contracts on behalf of the organization, and protecting the 501(c)3 status. 
• Coaching and leadership development. 
• Provides routine coaching and development to reporting leadership staff; provides performance accountability, goal setting, and redirection through provision of regular feedback and demonstrating the desired skills and expected work ethic. 
• Establishes individual and team goals in accordance with strategic direction of the organization; routinely evaluates individual and team progress towards goals. 
• Identifies and supports resourcing educational, training, and skills acquisition in support of team members towards current and future role development. 

* While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add or remove duties from particular jobs and to assign other duties as necessary. 

Requirements

Education & Licensure:  

• Master’s in Business Administration or Finance/Accounting; and, 
• Certified Public Accountant designation.  
• Education in Healthcare Compliance preferred. 

Experience: 

• Minimum of 10 plus years of experience in senior level financial leadership role for comparably sized organization, preferably within a healthcare related sector. 
• Combination of education/experience reflecting equivalent depth of skills, knowledge, experience. 

Knowledge, Skills, Abilities and Capacity:  

• Excellent communication and listening skills. 
• Demonstrated ability to work independently with little direction and manage multiple demands and priorities. 
• Excellent management and supervisory skills. 
• Excellent analytical and organizational skills. 
• Proficient in database and accounting computer application systems. 
• Excellent written and verbal communication skills. 
• Key Capacities: 
• Navigator, Strategist, Entrepreneur, Mobilizer, Talent Advocate, Captivator, Global Thinker, Change Driver, Enterprise Guardian 

Role-specific Competencies:  

• Excellent analytical and organizational skills. 
• Proficient in database and accounting computer application systems. 

Supervisory Responsibilities: 

Oversees multiple internal service departments and programs including Finance, Business Office, Supply Chain. 

St. Croix Health is an Equal Opportunity Employer. We will ensure that individuals with disabilities are provided with reasonable accommodation throughout the hiring process.  If reasonable accommodations are needed, please contact us at [email protected] or 800-828-3627

St. Croix Health has been a healing force in the St. Croix Valley for over 103 years. We are a purpose-driven organization with a dedicated team committed to serving our patients and communities throughout the St. Croix Valley. This commitment is rooted in our mission, vision and values. 

Mission: To deliver care driven by excellence, guided by heart, and grounded in community.

Vision: To be a trusted partner in providing healthcare that is personal and accessible to all, by adapting to meet the needs of our communities, and support lifelong well-being.

Values: Integrity. Respect. Compassion. Collaboration

Here at St. Croix Health, we offer our employees with a robust benefits package that includes:

• Health, vision and dental insurance
• 403b retirement program  with employer match
• Paid time off
• Short-term disability, long-term disability and life insurance options
• Education reimbursement
• Employee assistance program (EAP)
• Wellbeing incentive program
• Free parking

St. Croix Health is a not-for-profit healthcare system located in St. Croix Falls, WI dedicated to helping people live healthier, happier, and longer lives. St. Croix Health offers the services of 80+ providers and 20 specialties with five community clinics in Minnesota and Wisconsin all supported by a critical access hospital on the main campus in St. Croix Falls, just an hour northeast of Minneapolis/St. Paul. Nestled in the bluffs of the St. Croix River Valley, St. Croix Falls is the ideal place to work, live and play.