Chief Financial Officer

Job Purpose/Function: (the main contribution of the function to the total organization.)

The CFO assists the President/CEO in performing all tasks necessary to achieve the organization’s mission and help execute agency strategic plans. Reporting directly to the President/CEO, the CFO shall have the responsibility of managing and reporting on the agency finances. As a member of the Senior Management Team of the organization, the CFO assists in directing all operational and strategic matters as they relate to budget management, cost benefit analysis, securing of new funding sources and overall agency financial matters.

Major Duties and Responsibilities:

Financial Statements:

• Oversees the management and coordination of all fiscal reporting activities for the organization including organizational revenue and expense, balance sheet, cash flows, reports to funding agencies, and the development and monitoring of organizational contracts and grant budgets
• Works with the President/CEO on the strategic vision including fostering and cultivating stakeholder relationships and assists in the development and negotiation of contracts.
• Manage the dissemination of financial statements to appropriate personnel which reflect budget to actual performance for revenues, expenses, and cash flow for each organizational service line and department
• Develops and maintains financial policies and procedures to ensure proper accounting controls exist which will safeguard agency assets and ensures that such policies and procedures pass independent and governmental audit standards
• Manage the preparation of grant funding budgets and reports due to both internal and external sources
• Manage the annual agency audit
• Direct the preparation of the agency annual operating and capital budgets
• Coordinate the production of financial analysis reports for current and potential services to determine and ensure future agency financial viability
• Engage the finance committee of the board of directors to develop short- medium – and long-term financial plans.
• Serves as CEO’s liaison to the finance committee ensuring that meetings are well coordinated and managed.

Cash Management Services:

• Coordinates the development of cash flow plans to ensure agency cash flow needs are met
• Monitors financial institutions in which agency assets are invested and/or held to minimize risk or losses

Billing and Collections:

• Ensures via supervision of the Comptroller that the agency maximizes service line revenues by properly billing, collecting and accounting for 1st and 3rd Party Revenues.
• Ensure proper revenue recognition of agency patient revenues
• Provides direction to department staff to ensure that first and third-party receivables and the preparation of reports which reflect budget to actual reports for revenues and services provided by service line are accurate and timely
• Analyze and report on billing and collections performance of cash collections from generated revenues to ensure that agency bad debts are minimized.

Facilities and Asset Management:

• Lead capital development projects for the agency.
• Provide oversight of agency capital improvement projects
• Works to seek out additional capital resources which would allow the agency to make capital investments.

Dimensions: (areas on which the job function has a measurable effect, directly or in-directly)

• Enhanced and timely reporting of agency financial performance to appropriate personnel.
• Enhanced and timely submission of reports to funding agencies.
• Improved agency daily sales outstanding and reduced receivables.
• Seek and apply for community development block grant funding for capital improvements.

Accountabilities: (list of major end results that should be reached in the job function)

1. To recruit, coach/train and retain adequate staffing to achieve the items outlined in major duties and responsibilities

2. To develop systems and process that ensures continuous quality improvement, audit and accreditation ready status.

3. To develop a comprehensive and current understanding of the agency and the client base and the stakeholders which we serve.

4. To have a comprehensive and current knowledge of the financial accounting standards board.

5. To ensure compliance with state mandated rules and regulations regarding cost allocations.

6. Other duties as assigned

Education and Experience Required:

• Bachelor’s degree in Finance or related field, a CPA and or MBA along with a track record of success.
• A minimum of ten years progressive experience in finance at a CT or neighboring state’s nonprofit organization with complex funding and revenue streams. 3 years minimum in a similar position.
• Significant experience in or knowledge of nonprofit accounting, including complex fund and grant accounting, compliance and reporting to Federal and State grants.
• Experience managing Medicaid and Medicare audits.
• Strong oral and written communications skills along with the interpersonal skills to work effectively at with all levels of the organization and with stakeholders.
• Experience in various methods of accounting and operational management.
• Demonstrated ability to manage duties and responsibilities in a fast-paced environment.
• Demonstrated leadership and organizational ability.