Chief Financial Officer - Wake Area Financial Operations

American Addiction Centers • Winston-Salem, NC

1d • $174 - $279

About The Position

The Chief Financial Officer (CFO), Wake Area Financial Operations is a key member of the executive leadership teams for Atrium Health Wake Forest Baptist (AHWFB), Wake Forest School of Medicine (WFSOM), Enterprise Academics as well as the Advocate Health Finance Leadership Team. This role reports to the CFO North Carolina – Georgia Division of Advocate Health, with matrix reporting to both the Chief Executive Officer (CEO) of AHWFB and the Advocate Health (AH) Chief Academic Officer (CAO) & Dean of WFUSOM. Additionally, the CFO serves as the principal financial liaison to AHWFB’s governing bodies and Wake Forest University, as well as to Advocate Health senior management, ensuring alignment of financial strategy with organizational goals. This executive is responsible for financial operations across AHWFB, WFUSOM and National Academic Model in collaboration with the Advocate Health enterprise and division finance teams, including: Highlights •Financial reporting (internal and external) •Budgeting and forecasting •Capital and business planning •Strategic financial analysis The Atrium Health Wake Forest Baptist (AHWFB), Chief Financial Officer, Wake Area Financial Operations serves as the senior financial executive for this nationally ranked, fully integrated academic health system based in Winston Salem, North Carolina. AHWFB has grown significantly with over $6 billion in annual revenue, 8 hospitals, 2,000+ providers, and 25,000+ team members in Central and Western North Carolina. Wake Forest University School of Medicine (WFUSOM), with two campuses in Winston-Salem and Charlotte, is a premier academic institution, generating over $400 million in annual extramural funding. The school operates with an annual budget exceeding $500 million, and the broader academic enterprise (education and research) totals approximately $700 million. AHWFB is now part of Advocate Health—the third-largest nonprofit health system in the U.S., with over $32 billion in annual revenue. The AHWFB integrated health system and WFU School of Medicine serve as the academic core of Advocate Health advancing research, education, and innovation across the nation.

Requirements

• Bachelor’s degree from an accredited college or university is required.
• Master’s degree in business, finance, accounting, healthcare administration, or a related field is required.
• A minimum of 10 years of progressive leadership experience in health system finance and operations is required.
• Comprehensive experience in senior financial management, including substantial experience in complex P&L management, financial reporting, accounting policy development, internal control design and remediation, systems implementation, not for profit tax compliance, and management of internal and external audit issues.
• Direct CFO or Senior Finance experience in a hospital or health system with multi-site, multi-disciplinary components, including Medical School and Research/Innovation business units and Medical Group/Service Lines is strongly preferred.
• Demonstrates an understanding of the intersection of research, teaching, and clinical care in an academic health center.
• Deep understanding and experience with comprehensive revenue cycle management and reimbursement, as well as the systems that support the function and a measurable track record of success in cost management.
• Knowledge of fundamentals and advance practices in the field of financial management as it relates to integrated health systems and hospitals.
• Commitment to truth and transparency; leads with authenticity.
• Ability to quickly respond to organizational constraints and industry pressures which occur in an environment of intense change.
• In-depth understanding of the key business issues and emerging trends in the healthcare industry.
• Effectively represents the enterprise with elected officials, agency representatives and the community.
• Demonstrates capacity to rapidly analyze and synthesize relevant quantitative and qualitative information.
• Proven ability to conceptualize issues and develop pragmatic solutions.
• High energy, drive for results and focus on creating value on a sustained basis.
• Pursues innovation; drives the organization to advance the mission via breakthrough thinking.
• Visible and unifying leader.
• Ability to create and sustain outstanding interpersonal relationships; engenders trust and respect.
• Inspires excellence among staff and sets the tone for the organization’s further growth and success.
• Able to lead and influence change in a matrix environment.
• Possess strong management skills, ability to multi-task, and be able to direct and evaluate the performance of others.

Nice To Haves

• Prior experience as a CFO within an academic health system with annual revenues exceeding $2 billion is preferred.
• Professional certification such as a CPA and/or HFMA and ACHE designations is preferred

Responsibilities

• Serves as the accountable finance leader for financial operations, including managing performance of the clinical assets (wholly owned and joint venture/other partnerships) and influencing and supporting performance of academic (education & research), and corporate (administrative and clinical) assets and departments.
• Serves as a strategic advisor to both the CEO of AHWFB and the AH CAO & Dean of WFUSOM.
• Builds strong, positive relationships by establishing trust and credibility with all stakeholders: administrative and clinical leaders across the health system, Wake Forest University, the faculty practice, board members, and external constituents.
• Manages, plans, and organizes the financial operations of AHWFB, including financial performance, analytics and reporting, planning, budgeting and capital management.
• Directs completion and reviews/reports on financial performance.
• Identifies, assesses, documents, and monitors opportunities to maximize revenue and manage expenses.
• Identifies and drives opportunities for savings with the executive leadership team.
• Evaluates and improves financial operations and related policies to ensure that they best support an integrated approach to service delivery.
• Leads collaboration efforts with Atrium Health Wake Forest Baptist (AHWFB), Wake Forest School of Medicine (WFSOM), Enterprise Academics as well as the Advocate Health Finance Leadership Team, ensuring alignment, completion and maintenance of annual Long Range Financial Plan and operating and capital budget processes.
• Analyzes variances to budgets/forecasts and communicates to Area and Division operations and finance leadership.
• Partners with operations leaders to ensure financial targets are met and/or exceeded.
• Advises Wake Area leadership on financial performance while also serving as a strategic liaison to key enterprise departments—such as corporate accounting, managed health resources and reimbursement, revenue cycle, health information management, supply chain, human resources, nursing, IT, and facilities management.
• Acts as a conduit between area leadership and enterprise functions to align priorities and drive performance.
• Works collaboratively with operations management and corporate revenue cycle departments (Patient Access and Patient Financial Services, Health Information Management, Clinical Documentation Improvement, Reimbursement) to optimize revenue and performance, and better understand/enhance payer and reimbursement trends.
• Standardizes work, processes and deliverables and ensures financial integration within and across the Area and individual patient care sites.
• Presents financial information to governance boards and subcommittees and Area/Division executive and management teams.
• represents NC/GA Division and AH CFO(s), as applicable, in advising Enterprise leadership via committee, working groups, project teams, etc., in the domains of revenue growth, expense management, and strategic planning, particularly for clinical/service line and corporate operations.

Benefits

• Paid Time Off programs
• Health and welfare benefits such as medical, dental, vision, life, and Short- and Long-Term Disability
• Flexible Spending Accounts for eligible health care and dependent care expenses
• Family benefits such as adoption assistance and paid parental leave
• Defined contribution retirement plans with employer match and other financial wellness programs
• Educational Assistance Program

What This Job Offers

• Job Type: Full-time
• Career Level: Executive