The Director of Finance reports to the President and CEO. The Director is responsible for oversight and maintaining financial accounting/reporting, in accordance with current acceptable accounting and cost reimbursement principles, accounts receivable and budgetary process. The Director is a member of Senior Management and demonstrates ability to be visionary, creative and strategic.
REPORTS TO: CEO
- Bachelor Degree in Accounting, Business or Finance (CPA preferred)
- 3+ years’ experience in a Director or higher level Finance or Accounting position
- Must have recent health care experience in accounting or finance
Demonstrated ability to implement strategies which improve overall profitability
- Proven track record which include exceptional skill levels in the area of financial reporting, budgeting process, and overseeing timely collection of receivables
DUTIES AND RESPONSIBILITIES:
- Manage and supervise accounting operations including financial reporting (financial statements, general ledger and accounts payable) and the development of appropriate systems to ensure for internal audit controls.
- Ensures that all financial reporting is reliable and that financial statements are prepared in accordance with GAAP and meet all state, federal and regulatory body requirements.
- Ensures that financial reporting, including cost reports, are timely.
- Manages the annual budget process and meets target date for getting draft to CEO/Treasurer.
- Oversees accounts payable, payroll and cash management.
- Evaluates and makes recommendations for any enhancements to the organization’s business and finance department structure to ensure continual improvement of efficiency.
- Utilizes/recommends technology and software which assist in gaining financial efficiency.
- Ensures that accounts payable and receivable departments have processes/policies which meet all state, federal and regulatory body requirements.
- Contributes financial expertise which will identify areas for growth in revenue, reduction in expenses and improved profitability of the organization.
- Oversees VNA payer contracts and renegotiation of such contracts.
- Manages the month end process from a financial reporting and receivable standpoint.
- Manages accounts receivable through insurance payers, grants and private pay collections.
- Meet and maintain accounts receivable/collection goals as set up by the CEO.
- Demonstrates knowledge and understanding and appropriate use of Bad Debt reserve.
- Tracks success rate on collection processes. Makes changes as needed to achieve goals.
- Develops and maintains an insurance verification/authorization and reauthorization process, which assures for the organization’s success in collecting payment for services rendered.
- Develops and maintains a plan to collect copayments in a timely manner.
- Performs monthly bank reconciliations.
- Collaborate with senior management team monthly to discuss outstanding accounts and claims that cannot be billed and develop a plan of action.
- Responsible for staff accountability and productivity
- Develops team members through mentoring, educational opportunities, succession planning and goal setting.
- Works collaboratively with auditing firm.
- Other duties as assigned.