Director Finance

Norman Regional Health System•Norman, OK

About The Position

The Director of Finance will lead monthly and annual financial close processes, ensuring financial statements are accurate and compliant with GAAP. This role oversees financial performance across all entities, analyzes variances, trends, and key performance indicators (KPIs), and ensures timely and accurate consolidated financial reporting and reconciliations. The Director will also oversee the preparation of financial statements, prepare reports for the Finance Committee and Board, and standardize financial processes across the health system. Additionally, the position ensures compliance with healthcare regulations and financial policies, oversees internal controls and audit processes, and coordinates with external auditors and regulatory agencies. The role establishes policies and procedures for the budget process, serves as a resource for budgeting tools and processes, and oversees the preparation and distribution of budget-related information. Maintaining and optimizing the budget software system and ensuring the accuracy of forecasts and financial projections are also key responsibilities. The Director will oversee the preparation and review of budget variance analysis, monitor financial metrics against benchmarks, and collaborate with departments to meet budget and clinical benchmarks. Evaluating operational performance and recommending improvements, ensuring accuracy and timely distribution of statistical reports, and overseeing physician reporting and month-end statistical reporting processes are also part of the role. This position monitors and evaluates financial and productivity information to achieve operational benchmarks, plans, analyzes, and implements actions necessary to achieve established fiscal year department productivity benchmarks, and analyzes industry trends in the development of department operational needs. Collaboration with other departments to achieve organizational budget and clinical benchmarks, and analysis of current operational functions and industry trends to validate benchmark targets are expected. The Director defines and promotes new targets based on research and consideration of overall hospital operations. Fostering the learning and development of staff, interviewing, selecting, and hiring candidates, ensuring department-specific orientation and competencies, clearly articulating expectations, and monitoring performance are also key aspects of the role. Delegation of authority and responsibility, providing coaching and mentoring, identifying developmental opportunities, providing timely feedback, and utilizing progressive discipline are also expected. Collaboration with other departments to identify and resolve operational and patient care issues, acting as an expert resource, and using problem-solving strategies are crucial. Listening to customers, resolving interdisciplinary issues, and training staff to recognize and respond appropriately are also part of the role. The Director actively supports and promotes the shared mission and vision of Norman Regional Hospital, plans, develops, and implements new services/programs, solicits input from partners for strategic planning, and develops, implements, and communicates departmental goals. Responding to immediate events that can affect long-term goals and maintaining awareness of medical community relations are also important. Utilizing the mission as a compass, developing and promoting employee satisfaction, proactively communicating to resolve potential issues, and monitoring and responding to concerns are key. Sharing departmental and organizational information, completing annual evaluations, and providing recognition for employee efforts are also responsibilities. Finally, the Director monitors and responds to physician, patient, and employee satisfaction surveys.

Requirements

Bachelor’s degree in Finance or Accounting required.
Seven to Ten years progressive finance experience.
Three to Five years healthcare finance (hospital or health system preferred).
Prior leadership or management experience required.
Strong understanding of healthcare reimbursement and financial operations.
Advanced financial modeling and analytical skills.
Experience with training, directing, and developing finance professionals.
Experience working with external auditors.
Solid understanding of reimbursement issues (e.g., cost report preparation, managed care, etc.).
Knowledgeable of human resources productivity systems.

Nice To Haves

CPA and/or Masters’ degree (MBA or MHA), preferred.

Responsibilities

Lead monthly and annual financial close processes.
Ensure financial statements are accurate and compliant with GAAP.
Oversee financial performance across all entities (hospital, clinics, joint ventures).
Analyze variances, trends, and key performance indicators (KPIs).
Ensure timely and accurate consolidated financial reporting and reconciliations.
Oversee preparation of monthly, quarterly, and annual financial statements.
Prepare reports for Finance Committee and Board.
Standardize financial processes across the health system.
Ensure compliance with healthcare regulations and financial policies.
Oversee internal controls and audit processes.
Coordinate with external auditors and regulatory agencies.
Establish policies and procedures for the budget process.
Serve as a resource for directors and managers on the budgeting tools and processes.
Oversee preparation and distribution of budget-related information.
Maintain and optimize budget software system.
Ensure accuracy of forecast and financial projections.
Oversee preparation and review budget variance analysis.
Monitor financial metrics against benchmarks.
Collaborate with departments to meet budget and clinical benchmarks.
Evaluate operational performance and recommend improvements.
Ensure accuracy and timely distribution of statistical reports (daily, weekly, monthly, quarterly, annual).
Oversee physician reporting and month-end statistical reporting processes.
Monitor and evaluate financial and productivity information to achieve operational benchmarks.
Plan, analyze, and implement actions necessary to achieve established fiscal year department productivity benchmarks.
Analyze industry trends in the development of department operational needs.
Collaborate with other departments to achieve organizational budget and clinical benchmarks.
Analyze current operational functions and industry trends to validate benchmark targets.
Define and promote new targets based on research and consideration of overall hospital operations.
Foster the learning and development of staff to fulfill the current and future requirements of individuals and the organization.
Interview, select, and hire the most appropriate job candidate.
Ensure department specific orientation, initial, and annual competencies are completed as per policy.
Clearly articulate expectations and monitor performance.
Delegate authority and responsibility with the latitude to do a task independently.
Devote time to listen, provide coaching, and mentoring for individual development.
Identify needs and provide developmental opportunities, assignments, and training.
Provide feedback for improvement in a timely manner and utilize progressive discipline as needed.
Collaborate with other departments to identify and resolve operational and patient care issues.
Act as an expert resource for physicians, staff, and management team.
Use problem-solving strategies and a “win-win” approach to meet internal and external customer’s needs.
Listen to internal and external customers, use a non-defensive approach, and resolve interdisciplinary issues.
Train staff to recognize and respond appropriately to the internal and external customer.
Actively support and promote the shared mission and vision of Norman Regional Hospital to achieve strategic goals.
Plan, develop, and implement new services/programs based on awareness of industry trends, organizational goals, and community needs.
Solicit input and active participation from key internal and external partners to develop strategic planning initiatives and operational budgets.
Develop, implement, and communicate departmental goals in support of the strategic plan and measure progress toward achievement of goals.
Respond to immediate events that can affect long-term goals of the hospital systems and collaborate to change the strategic approach or re-evaluate business practices as needed.
Maintain awareness of medical community relations and pursue opportunities to align physician contribution with strategic initiatives.
Utilize mission as a compass for all departmental activities.
Develop and promote employee satisfaction to facilitate positive patient and physician outcomes.
Proactively communicate to resolve potential issues before they occur.
Monitor and respond to physician, patient, and employee concerns in a timely manner.
Share current department and organizational information with employees, utilizing a variety of communication methods.
Complete annual evaluations as per policy.
Provide formal and informal recognition for the efforts and achievements of employees.
Monitor and respond to physician, patient, and employee satisfaction surveys.