Chief Financial Officer
Job Ref: 58266
Department: FAC FINANCE ADMIN
Location: 160 Water St. #3, New York, NY 10038
Job Type: Regular
Employment Type: Full-Time
Hire In Rate: $300,000.00
Salary Range: $300,000.00 - $350,000.00
About NYC Health + Hospitals
MetroPlus Health Plan provides the highest quality healthcare services to residents of Bronx, Brooklyn, Manhattan, Queens and Staten Island through a comprehensive list of products, including, but not limited to, New York State Medicaid Managed Care, Medicare, Child Health Plus, Exchange, Partnership in Care, MetroPlus Gold, Essential Plan, etc. As a wholly-owned subsidiary of NYC Health + Hospitals, the largest public health system in the United States, MetroPlus’ network includes over 27,000 primary care providers, specialists and participating clinics. For more than 30 years, MetroPlus has been committed to building strong relationships with its members and providers to enable New Yorkers to live their healthiest life.
Under the direction of the Chief Executive Officer (CEO), and as a member of the executive team, the Chief Financial Officer (CFO) has complete oversight of all fiscal functions including the development, interpretation, coordination, and administration of Plan policies on finance, accounting, insurance, financial/accounting systems, internal controls, budgeting, and auditing. The Chief Financial Officer has responsibility for safeguarding the facility assets and ensuring the financial statements, including the books and records, are prepared and maintained in accordance with GAAP. The Chief Financial Officer is also responsible for ensuring compliance with company financial and accounting policies and procedures, ensuring internal controls are effective in both design and operation, including the routine monitoring of controls. The Chief Financial Officer has responsibility for the identification and independent assessment of financial risk, establishing and monitoring of mitigation plans, and for the communication of financial risk to the Chief Executive Officer. The Chief Financial Officer is responsible for monitoring financial performance and the maintenance of reasonable and appropriate financial plans and forecasts. The CFO monitors the revenue cycle process and, along with other revenue cycle stakeholders, is responsible for the improvement of the revenue cycle process through rate setting, charge capture, managed care negotiations, and cash collections. In collaboration with the executive team, the CFO formulates long range goals and plans related to Health Plan growth and expansion. This individual is responsible for the financial and functional decision making necessary for attainment of Health Plan and H+H Corporate mission and strategic goals in compliance with legal and regulatory requirements. The CFO is responsible for positive staff morale, turnover, and positive member experience for their areas of responsibility. The CFO is highly visible within the Health& Hospitals Corporation serving in an advisory capacity to the Plan CEO regarding the strategy and financial management of the Plan as it relates to activities and strategy of the NYC H+H financial team.
- Design, and implement the financial component of the Health Plan overall strategy for growth and profitability
- Provide financial expertise in the planning of new services and the expansion of existing services promoting revenue growth
- Plan, develop, organize, implement, direct, and evaluate fiscal function and performance
- Manage the staff of the Finance division, ensuring staff development and succession planning for all department leadership positions
- Analyze daily operating results to ensure revenues, expenses, and labor are within budgeted objectives; advise department heads and administration of needed changes and improvements in a timely manner
- Appraise and evaluate results of overall operations regularly and systematically, periodically reporting results to the CEO
- Collaborate with executive team to implement financial plans, and productivity benchmarks to monitor progress toward strategic and financial goals to achieve and enhance the mission of MetroPlus Health Plan
- Provide proactive, sound guidance regarding management of assets and financial trends within the Plan
- Devise and implement accounting systems to provide complete and accurate records of Plan assets, liabilities, and financial transactions
- Establish and maintain sound financial controls and record keeping; approve financial expenditures up to the level established by the CEO.
- Prepare financial forecasts and monitor performance versus budget; consolidate results, prepare rolling 90-day forecasts, and develop and implement cash management controls
- Provide decision support of disbursements and receivables processes
- Manage Health Plan investment strategy
- Recommend interventions to reduce operating costs and increase revenue, based on knowledge of market trends, financial reports, and industry operating procedures
- Manage financial audits by outside parties, preparation of financial statements, and reporting to Local, State and Federal oversight entities, regulators, system partners, executive team, and Board of Directors, in accordance with financial management and techniques appropriate to the health insurance industry
- Ensure the integrity of rate filings and coordinates with auditors and actuarial firm to obtain adequate premium rates
- Participate in the development, implementation and evaluation of risk contracts, communicating recommendations to the CEO
- Envision, design and oversee value-based agreements with provider network
- Provide timely and accurate analysis of budgets, financial reports, and financial trends to the CEO and the Board of Directors
- Function as liaison with facility CFOs, Central Office and Facility Managed Care staff on finance and other issues
- Develop and maintain relationships with outside consultants, associations, community representatives, board members, and governmental entities
- Keep current with new or revised regulatory agency and industry laws, regulations, and standards applicable to assigned areas and ensures that assigned activities comply with all requirements and regulations
- Maintain compliance with all federal, state, local, and government agencies and accrediting bodies as required
- Design and implement performance measurements
- Attend promptly to the administrative details of the position including the signing of documents, preparation of reports, completion of performance appraisals and other employee-related actions
- Complete all other projects and duties as assigned
- MBA, MPA, MPH or equivalent advanced degree or experience
- Requires 10+ years in financial leadership roles serving the managed health plan market. Experience with either health plan payers, Medicaid, NYS, OMB, a national public auditing firm specializing in healthcare preferred.
- Position requires the highest level of problem solving. The work requires identifying and resolving very complex problems and developing innovative solutions based on extensive cross functional knowledge of the entire organization.
- Customer service focused with executive presence required
- This position will demand extra time and extended working hours often under conditions of high stress. Therefore, the Divisional CFO must be a strong leader with excellent interpersonal skills.
- Candidate must possess an understanding of the competitive health insurance marketplace and the relationship to integrated health delivery and network/partnership development.
- The ability to understand managed care and to negotiate contracts, understanding the benefits and risks of various contractual arrangements is required
- Ability to balance multiple projects and adapt to new issues/assignments as business needs change, comfortable with ambiguity
- Ability to convert complex finance, operational, and compliance issues into terms and concepts that are easily disseminated throughout all levels of the organization
- A thorough understanding of healthcare trends with the ability to anticipate opportunities
- Strategic mindset
- An intuitive thinker able to generate ideas and recommendations of new and/or modified approaches
- Customer service focused with executive presence
- Demonstrated emotional intelligence, initiative, self-motivation, practical learning skills, enthusiasm and an ability to complete multiple tasks in a timely and accurate manner. required
- Demonstrated ability to operate successfully in a constantly changing, fast pace environment
- An individual of highest personal and professional integrity, principle and knowledge, earning respect and support when making difficult decisions and choices.
- Able to establish immediate credibility with peers, senior leadership, and staff.
- Must listen actively and accurately, encourage input from others. Provide clear directions. Maintain an ongoing dialogue with employees to ensure continual progress and organizational improvement
- Someone with the ability to work collaboratively with individuals critical to the successful execution of financial tasks.
- Excellent written and verbal communication skills
- Ability to appropriately handle confidential and/or sensitive corporate information
- Experience in public speaking, business presentations, meeting management and business correspondence
- Excellent computer and analytic skills required
Licensure and/or Certification Required
- CPA a plus
- Integrity and Trust
- Customer Focus
- Functional/Technical Skills
- Written/Oral Communications