Director of Finance

Job Description: Director of Finance

Position Title: Director of Finance

Department: Finance

Location: PA / NJ

Position Summary: The Director of Finance is responsible for the comprehensive management of financial activities and strategies. This role ensures that financial operations support the organization's goals, compliance standards, and mission. The Director of Finance will establish strong relationships in order to promote teamwork, drive business strategy, provide consultation and support to the operations in the attainment of financial goals.

Key Responsibilities:

Financial Reporting and Analysis:

• Optimize revenue cycle management to maximize reimbursement and minimize bad debt.
• Prepare and present financial reports to senior management.
• Analyze financial data to identify trends, variances, and opportunities for improvement.
• Utilize financial metrics to guide decision-making and strategic planning.
• Identify and implement cost-saving initiatives and operational efficiencies in residential facilities.

Strategic Financial Leadership:

• Lead financial planning, forecasting, budgeting, and reporting processes.
• Develop and implement financial strategies to enhance the company's operations.
• Oversees monthly analysis of Medicare/Medicaid/Third Party Payers.
• Oversees receivable and revenue reports and work closely with Revenue Cycle Manager to ensure efficient and effective collections.
• Provide financial insights and recommendations to the executive team.

Team Leadership:

• Direct, supervise, and encourage professional development of direct reports.
• Foster a collaborative and results-driven work environment.
• Manage recruitment, training, and performance evaluation for the finance team.

Compliance and Risk Management:

• Ensure compliance with healthcare regulations and financial standards.
• Maintains knowledge and understanding of all reimbursement billing procedures.
• Develop and enforce policies and procedures to mitigate financial risks.
• Oversee internal audits and collaborate with external auditors as needed.

Stakeholder Engagement and Collaboration:

• Work closely with clinical and administrative leaders to align financial and operational goals.
• Serve as a liaison between the finance department and other departments, ensuring effective communication and collaboration.
• Engage with external stakeholders, regulatory bodies, and community partners.

Supporting Operations:

• Collaborate closely with the Operations leadership to ensure seamless integration of financial and operational strategies.
• Provide financial support and analysis to assist the Operations leadership in making informed operational decisions.
• Participate in regular meetings with the Operations leadership to review financial performance, identify opportunities for improvement, and develop joint initiatives.
• Assist the Operations leadership in developing and implementing operational budgets, monitoring performance, and adjusting strategies as necessary.
• Support the Operations leadership in managing resources efficiently to achieve both financial and operational targets.

Qualifications:

• Education: Degree in Finance, Accounting, Business Administration, or related field.
• Experience: 7-10 years of progressive financial management experience within healthcare industry, and 5 years in a senior leadership role. Proven experience in healthcare billing, including Medicaid/Medicare.
• Skills:
  
  • Strong knowledge of healthcare financial management, regulations, and state reimbursement systems
  • Excellent analytical, problem-solving, and decision-making abilities.
  • Exceptional leadership, communication, and interpersonal skills.
  • Proficiency in financial software and systems, including ERP and EHR systems.
  • Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

Working Conditions:

• Work is performed in a standard office environment.
• Flexible / Hybrid schedule with possible evening and/or weekends when necessary.

Compensation: Competitive salary commensurate with experience, along with a comprehensive benefits package including health insurance, retirement plans, and performance-based bonuses.