Executive Vice President - Chief Financial Officer

Stanford Health Care•Palo Alto, CA

1d•Onsite

About The Position

The Chief Financial Officer ("CFO") is an Officer of the Corporation and plans, directs and evaluates strategic, financial management and operations activities for SHC and related corporations. Continuously ensures revenue maximization, cost effective management, and adherence to capital and operating budgets. Collaborates with the senior management team to develop, revise and communicate the organization's mission, and to effectively direct, develop and manage its financial resources. Represents SHC to outside agencies including credit rating agencies, banking and investment management firms, consultants, outside auditors, and professional groups. Participates in all Board of Directors meetings and multiple Board Committees including serving as liaison for Finance, Audit and Compliance, and Investment Committee. Responsible for the functions of: financial operations, long range strategic and financial planning, decision support, accounting, reimbursement, revenue management, hospital and professional revenue cycle, risk management, facilities design and construction, the New Stanford Hospital renewal project, school of medicine support, investments, treasury and debt management, and managed care contracting.

Requirements

Master's degree in business, finance, hospital administration or a related field from an accredited graduate school program.
Minimum fifteen (15) years of financial management experience in a large academic hospital, including program development and delivery experience, managed care contracting and capitation; or an equivalent combination of education and experience.
Ability to promote and maintain good interpersonal relationships; to plan, implement and evaluate change; to make decisions based on facts and sound judgement.
Leadership, communication, strong negotiating skills, and financial and personnel management skills.

Responsibilities

Effectively assists the CEO's in providing leadership, direction, and administration of operations.
Provides historical and objective current data to Leadership and Senior Management Groups re: decisions having an impact on patient care services.
Effectively provides direction and policy interpretation to department managers in managing their respective areas of responsibility; offers advice in handling special financial matters and concerns.
Consistently combines ethical judgment with technical skills within the policy and legal guidelines of the institution; understands the legal, social, economic, and political forces which influence the health care system.
Always acts decisively and takes effective action appropriate to the circumstances as required.
Effectively carries through to completion specific work projects assigned by the Chief Executive Officer/Presidents relative to the financial aspects of the institution.
Considers all sides of relevant problems; demonstrates the ability to see the big picture in terms of consequences and scope when responding to problems or developing a plan of action.
Coordinates and integrates services within department and with other departments by continually collaborating with other Vice Presidents, Medical Staff and Managers as applicable.
Continually seeks new technology and developments that will accelerate the attainment of the institution's service, financial, and operational goals and objectives.
Consistently recognizes, establishes and deals with financial priorities promptly and thoroughly.
Demonstrates effectiveness in collaborating with the CEOs and the Board in the short-term and long-term strategic planning functions of the institutions.
Ensures timely development of financial goals and objectives for new program initiatives that are compatible with the purpose of the institution and quality patient care.
Acts as a financial resource and is available for consultation to medical, administrative, and other staff members as requested.
Consistently organizes, directs and participates in the compilation, analyses and dissemination of financial data.
Remains current with national and local news issues affecting health care administration and financial management, and their potential impact on the institution.
Continuously serves as an advisor to the Chief Executive Officer/President and the Board and consultant to others in the organizations.
Ensures the development and implementation of policies and procedures on finance, accounting, insurance, patient billing, internal controls and auditing to optimize patient care; ensures policies and procedures are compatible with the function and goals of SHC/LPCH and meet external regulatory and statutory requirements.
Oversees long-range financial planning, operation of period budgeting processes, pricing policies and the preparation of annual provider cost reports.
Integrates department's services with the hospital's primary functions by supporting organizational mission, priorities and goals, and by supporting the delivery of optimal quality health care services.
Designates and authorizes appropriate delegate to be in charge during absences from SHC/LPCH.
Actively participates in and chairs SHC/LPCH committees as assigned.
Controls personal time commitments in order to properly balance the time required between outside activities, and institutional activities.
Consults with peer group in decision making.
Recommends and participates in selecting outside sources for needed services.
Recommends space and other resources needed by the department to meet patient and staff needs.
Effectively transfers knowledge gained from academic pursuits into actual work performance to produce quality outcomes.
Assists the CEO's in establishing an organizational culture committed to quality, service, people, and improvement; maintains efficient and effective operations.
Consults with staff members prior to recommending and implementing new policies and/or procedures; incorporates respective suggestions appropriate.
Consistently assesses and improves department's performance based on "customer" needs in order to develop and/or ensure that existing services maintain and deliver quality characteristics which meet the needs of and benefit the patients, staff and other customers.
Effectively maintains appropriate quality improvement and control programs in response to staff and patient feedback and internal standards of care and external requirements.
Demonstrates effectiveness in gathering, investigating, researching, and analyzing activities which may have broad or serious financial impact, presents relevant findings and suggest recommendations, as appropriate.
Demonstrates effectiveness in maintaining compliance with various regulations governing the operation of the institution along with the rules and regulations of accrediting bodies by monitoring ongoing operations and implementing corrective actions as required.
Initiates, promotes and participates in studies and research to assess the quality, efficiency, cost effectiveness and financial impact of new technologies, and to identify solutions to problem areas.
Develops and maintains an effective system of information, records and reports, for all assigned departments utilizing manual or electronic systems.
Continually encourages assigned department managers to recognize and utilize every opportunity to improve productivity efforts within their assigned area of responsibility.
Adheres to timelines in submitting budgets for preparation.
Forecasts supply, staff and equipment needs for new and existing programs, and projects fiscal requirements for capital and operating budgets.
Analyzes financial reports to determine cost-effective ways to portray statistics so that they may be used as effective management tools.
Reports are directed toward the development of accurate projections for planning purposes and significant operating statistics to measure progress against plans.
Develops, recommends and implements operating systems and procedures in cooperation with other departments to ensure operating consistency and to maintain proper tracking procedures regarding changes to appropriate cost centers.
Effectively directs managers in preparing their annual budgets, addressing capital equipment, staff, inventories, supplies and other departmental costs; ensures that patient volume, net income requirements, projected costs, institutional priorities, and reimbursement constraints ate considered in budget preparations.
Ensures timely filing of federal, state hospital association, third party and other financial reports as required.
Performs cost studies involving third parties, including local, state, and federal agencies.
Collaborates with the investment team to optimize returns on investments.
Ensures compliance with bond provisions and other debt obligations.
Establishes financial controls via a formal budget program that provides standards of measurement for actual performance.
Presents periodic reports outlining the institution's assets, liabilities, income, and expense based on past, present and future operations.
Ensures that the enterprise acquires and maintains adequate insurance coverage's to protect it from liability and other sources of loss.
Adheres to timelines in submitting operating and capital budgets for approval.
Assists in developing individual performance objectives which are mutually agreeable with assigned staff.
Continually strives to provide motivating challenges which encourage continued growth and development of staff members; recognizes and rewards the performance of staff members whose exceptional performance and personal efforts deserve; creates and implements performance incentives as appropriate.
Demonstrates an understanding and appreciation towards the pressures, stress, and frustrations which staff members experience during the course of their work routines; delegates sufficient authority to enable department managers to oversee the responsibilities inherent within their assigned areas; promotes a sense of value and feeling of appreciation among staff members.
Effectively defines the scope of relationship, responsibilities, and authority of new positions in financial area; establishes or approves qualifications for new positions.
Always takes immediate action in serious disciplinary situations; documents actions taken and the rationale for the decision.
Ensures that there are adequate ongoing educational programs and training opportunities for all staff members of assigned departments and areas of responsibility, including orientation for new employees and relevant in-service education sessions.
Consistently recommends and ensures a sufficient number of qualified and competent persons are available to provide service oriented support to patient care areas.
Regularly encourages staff participation and input into communication and decision making.
Promptly informs all assigned department managers of hospital policy or procedure changes along with any other issues that might affect their work routines.
Consults with staff on a regular basis to promote positive staff morale and a professional and productive atmosphere within the institutions.
Ensures current job descriptions and criteria-based performance evaluation standards have been developed for each position in the assigned department and areas of responsibility; assists in revising performance standards as necessary.
Regularly measures staff's performance against established criteria-based performance standards; utilizes evaluations as an objective management tool for counseling staff members to higher levels of performance to facilitate their professional development and maximize their contribution towards established institutional goals.
Documents initial and ongoing competence of staff.
Demonstrates and promotes the acceptance of patients, families, visitors and staff without regard to sex, race, creed, color, religion, national origin, age, veteran status - including Vietnam era and disabled veterans, physical/mental disability, disease process and sexual orientation.
Consistently demonstrates positive, interpersonal relations with all constituencies; cooperates harmoniously with others in the accomplishment of the institution's strategic goals and objectives.
Demonstrates effectiveness in assisting the CEOs with the implementation of effective communication mechanisms among all hospital departments and services, the medical staff, administration, and the Governing Board.
Consistently expresses ideas in a clear, creative and succinct manner adhering to timelines if applicable.
Actively works at developing excellent verbal and written skills necessary for effective communication.
Participates in professional activities which effectively represent and promote good public relations for the institution at national, state, and local meetings, conferences, conventions and community affairs.