Arlington, TX US
Area of Interest:
Texas Health Arlington Memorial
The Entity Finance Officer reports directly to the Senior Vice President Finance Operations, THR with a matrix reporting relationship to the President, Texas Health Arlington Memorial (THAM). The incumbent serves as the financial officer of THAM and routinely interfaces with members at the highest management level. The incumbent is a member of THAM’s senior management team and participates in strategic planning operations, new business development, etc.
The Entity Finance Officer provides financial leadership for the following business entities: Texas Health Arlington Memorial, as well as serve as the financial liaison to integrate THAM related physician practice activities through Texas Health Physician Group.
The Entity Finance Officer has the following duties and responsibilities:
•Serves as a resource for management, physicians and staff by providing accurate, timely and appropriate information to make financial decisions.
•Assures the accurate preparation of THAM Financial statements, including the adequacy of Bad Debt reserves, Managed Care discounts, accrued liabilities and Medicare/Medicaid liabilities.
•Provides and interprets financial information to Senior Management and all levels within the hospital providing detailed financial analysis and consulting on various projects periodically.
•Prepares the THAM Strategic Three-Year Financial Plans. This includes the coordination of Senior Management’s best estimates of profitability, capital equipment needs, working capital and financing needs.
•Development, installation and operation of appropriate financial systems and internal control to assure the assets of the hospital are properly protected. The Entity Finance Officer is also responsible for the recording and verification of all financial transactions of the Hospital.
•The preparation of the THAM Annual Operating and Capital Budgets and three-year financial plan. The budget is the consensus of management’s expectation for the coming year. The budget is prepared once a year to project the next fiscal year’s financial position on a monthly basis.
•Coordinates with THR the accurate and timely completion of tax returns, Medicare Cost Reports, capital budget tracking and entity financial audits.
•Protecting the tax-exempt status of the hospital and for assuring that all operations are conducted within the limits of all local, state, and federal statutory requirements and limitations.
•Serves as a member of THAM’s Senior Management Teams.
•Serves as administrative representative on various Hospital and THR Committees such as, but not limited to: Charity and Education Assistance, Finance Council, etc.
•The budget process and assists in implementing plans to assure The Joint Commission accreditation in coordination with other members of the Administrative Team.
•The selection, training, and compensation for all the financial positions that report directly to the incumbent.
•Matrix responsibilities and liaison for patient accounting, including business services and supply chain management.
•The accounting of approved construction projects.
Education and/or Experience:
•Bachelor’s degree in Accounting or Finance (or equivalent) as well as certification as a Certified Public Accountant or advanced HFMA certification preferred.
•Master’s degree in hospital administration or an MBA is strongly preferred.
•A minimum of 7 to 10 years of increasingly responsible financial management and leadership positions in a health care or related organization.
•The Entity Finance Officer needs to possess the skills and training to manage and lead a diverse group of people.
•The incumbent must understand the intricacies of complex organizational dynamics to effectively develop strategies for success.
•The incumbent needs to understand how to develop and integrate systems and processes into an organization so the organization’s structure can operate smoothly and efficiently.
•The Entity Finance Officer needs to have a proven track record of success both working in and managing via a matrix structure.
•The incumbent must have a thorough knowledge of financial accounting, cost accounting, generally accepted accounting principles and internal accounting controls as well as a general knowledge of financial analysis, planning and computer systems.
•The Entity Finance Officer must have a continuous knowledge of supply costs and appropriately assess variances.
•The incumbent must have the ability to organize, delegate and supervise professionals as well as clerical staff and possess good oral and written communication skills.
•Knowledge of product pricing, provider reimbursement and financial requirements specific to hospitals are beneficial.
•Ability to anticipate and model what changes in reimbursement will mean for the hospital.