Chief Financial Officer for the Faculty Practice Plan and Health Sciences

Howard University

45d•$200,000 - $225,000•Hybrid

About The Position

The Chief Financial Officer (CFO) serves as the senior financial executive and strategic advisor for the Faculty Practice Plan (FPP), the College of Medicine, the College of Pharmacy, the College of Dentistry, the College of Nursing & Allied Health Sciences, and Health Sciences. Reporting directly to the Faculty Practice Plan CEO and operating within a matrixed leadership structure with accountability to the Senior Vice President of Health Sciences, the CFO provides executive leadership for all aspects of financial strategy, planning, and performance across the clinical, academic, and research missions. The CFO is responsible for enterprise-wide financial management, including financial planning and analysis, budgeting, revenue cycle operations, capital planning and investment, physician and faculty workforce investments, research and grant-related financial oversight, and long-range financial strategy. As a key member of the executive leadership team, the CFO partners with the CEO, Dean, department chairs, and senior leaders to align financial resources with institutional priorities, enabling informed decision-making, strategic growth, operational excellence, and mission advancement. The CFO serves as the principal financial steward of the enterprise, accountable for optimizing financial performance, ensuring fiscal sustainability, managing organizational risk, and directing the effective allocation of resources across patient care, education, research, and community service initiatives. Through visionary financial leadership and a commitment to shared accountability, the CFO advances the long-term viability, growth, and impact of the Faculty Practice Plan and Health Sciences enterprise within a complex and highly regulated healthcare environment.

Requirements

Master’s degree in accounting or finance from accredited college or university.
Ten years of demonstrated experience in financial management and accounting.
Five or more years of progressive supervisory or management experience, including both management of complex projects and/or programs and supervision of staff (preferably within a healthcare system, academic medical center, faculty practice plan, or physician group practice, including direct oversight of revenue cycle operations.
Proficiency with healthcare financial and practice management systems and decision-support/analytics platforms, in addition to MS Office and accounting software.
Strong leadership ability fosters high standards and promotes moral and team spirit.
Business competence and negotiation skills.
Functional competency including mastery of financial managerial accounting.
Excellent written and verbal communication skills.
High emotional intelligence and interpersonal skills.
Strong organizational, strategic, analytic skills and creative problem-solving ability.
Ability to develop effective cross-functional relationships.
Flexibility and agility to adapt to changing priorities and the needs of the organization.
Resourcefulness in setting priorities and proposing new ways of creating efficiencies.
Proficient in using data and analytics to drive operational improvements and optimizing performance.
Executive presence and the ability to advise and present financial strategy to senior leadership, governing bodies, and external stakeholders.
Experience in leading organizational change, evaluating new business models, and structuring strategic partnerships.

Nice To Haves

CPA preferred.

Responsibilities

Serve as the senior financial executive and strategic advisor for the Faculty Practice Plan (FPP), the College of Medicine, the College of Pharmacy, the College of Dentistry, the College of Nursing & Allied Health Sciences, and Health Sciences.
Provide executive leadership for all aspects of financial strategy, planning, and performance across the clinical, academic, and research missions.
Responsible for enterprise-wide financial management, including financial planning and analysis, budgeting, revenue cycle operations, capital planning and investment, physician and faculty workforce investments, research and grant-related financial oversight, and long-range financial strategy.
Partner with the CEO, Dean, department chairs, and senior leaders to align financial resources with institutional priorities.
Optimize financial performance, ensure fiscal sustainability, manage organizational risk, and direct the effective allocation of resources across patient care, education, research, and community service initiatives.
Direct long-term financial planning, capital allocation, and fiscal growth for the physician group and health sciences department.
Accountable for overarching fiscal policy, strategic planning, operational and IT goals and priorities, financial risk management, and best practices.
Provide strategic financial leadership through the development of enterprise-wide financial plans, forecasts, and predictive analyses.
Evaluate and develop new business models, strategic partnerships, and diversified revenue streams.
Provide revenue cycle oversight to optimize reimbursement and improve performance across the clinical enterprise.
Ensure timeliness, accuracy, and usefulness of financial management reporting.
Oversee and finalize the preparation and communication of monthly and annual financial statements, reports, and revenue cycle key performance indicators.
Develop and utilize projection models and activity-based financial analyses.
Oversee the grants management and provide review of financial aspects for new program development.
Provide executive leadership with advice on financial implications of business activities.
Negotiate and manage Professional Service Agreements between the physician practice, medical school, and hospital.
Develop and implement policies for cash management, finance and accounting, and revenue cycle and maintain strong internal controls.
Direct involvement in all audit and remediation activities.
Lead a team of financial service staff.
Develop and implement operational strategies, policies, and procedures to drive efficiency, productivity, sustainability, and profitability.
Collaborate with cross-functional teams to optimize processes, streamline workflows, and enhance operational efficiency within the financial realm.
Foster professional development for team members, while leading and motivating towards goals and outcomes.
Negotiate directly with Medicaid/Medicare MCO’s and commercial insurance companies for reimbursement rates.
Evaluate requests for medical devices, equipment, and technology against demand for services and prepares proformas to demonstrate investment and ROI.
Prepare documents and maintain relationships with investment banks and commercial lenders to improve/protect system’s financial health and credit rating.
Serve as a strategic partner in engaging healthcare regulators, FQHCs, and community stakeholders to identify, evaluate, and execute opportunities that expand the Faculty Practice Plan's presence, advance organizational growth, and improve healthcare access.