Vice President Finance Support Svcs

Baystate Health • Springfield, MA

3d • Onsite

About The Position

This role is responsible for the oversight and direction of financial operations, including financial reporting and accounting. Key functions include managing the general ledger, accounts receivable and contractual allowances/reserves, accounts payable, payroll, tax reporting, grant accounting, and property, plant, and equipment. The position also involves managing financial information services and reporting, ensuring effective communication with operating areas. Responsibilities extend to preparing monthly, quarterly, and annual financial statements at both entity and consolidated levels, encompassing multiple entities within the health system. Additionally, the role oversees treasury services to maximize cash and investment balances, minimize financing costs, and manage approximately $1.0B in investment funds. It involves supporting critical BH committees, Boards of Trustees, and various advisory committees. The position also provides oversight to payment systems, supports the annual budgeting process, manages tax returns and reporting, oversees the capital structure including financings and bond offerings, maintains corporate fixed asset records, supports rating agency reviews, and assists with periodic audit processes. A key aspect is the drive to innovate, reduce operational costs, and enhance the efficiency and value of financial output.

Requirements

• 10+ years of experience in a leadership position in financial support services.
• Demonstrated success in supporting strategic business plans, collaborating with operations management in developing innovative support systems and applying superior technical expertise to enhance the efficiency and effectiveness of the financial support team.
• Bachelors Degree (Required)
• Certified Public Accountant

Responsibilities

• Overall responsibility for the oversight and direction of the financial operations including financial reporting and accounting.
• Manage the general ledger, accounts receivable and contractual allowances/reserves, accounts payable, payroll, tax reporting and grant accounting, property plant and equipment.
• Manage financial information services and reporting, ensuring liaisons to the operating areas with regard to these services.
• Preparation of monthly, quarterly and annual financial statements at both an entity and consolidated basis.
• Maximize available cash and investment balances, and related investment returns; minimize the financing costs associated with external debt.
• Oversight and fiduciary responsibility for approximately $1.0B in investment funds including Operating, Long Term, Endowment, Pension (DC), and insurance company funds.
• Development of internal system controls safeguarding investments.
• Includes cash management, bank reconciliations, cash flow projections, liquidity management and pension fund reporting.
• Support and liaison to all the critical BH committees including the Audit and Compliance, Finance and Investment Committees.
• Support to BH and other entity Boards of Trustees.
• Active in oversight and financial support of BHIC and Baycare.
• Active member of the Retirement Advisory Committee and Healthplan Advisory Committees.
• Oversight to payment systems functions including cost report preparation, governmental audits and forecasts.
• Support of the annual budgeting process, the preparation and analysis of the monthly financial statements including internal and external reporting, and detailed variance analysis for all functional areas.
• Completion of all Federal and State Income Tax and Informational Tax Returns.
• Manages the capital structure - all financings, refundings and bond offerings working closely with bond counsel, tax experts and third party consultants.
• Maintenance of the BH Corporate fixed asset records; establishes policy related to the procurement/disposal of all property, plant and equipment; calculation of monthly/annual depreciation expense; calculation of the gain/loss on the disposal of assets.
• Support the periodic rating agency review process through the preparation of needed financial and statistical information.
• Support the periodical audit process for the financial statements, pension plans, grant reporting and Medicare and other audits as required.
• Strive to innovate and reduce the cost of the operations for the assigned areas as well as consulting on other areas in the system.
• Enhance the efficiency of the operations and the value of reports and output to internal and external customers.

Benefits

• The compensation range(s) in the table below represent the base salaries for all positions at a given grade across the health system. Typically, a new hire can expect to start somewhere in the lower part of the range. Actual salaries may vary by position and will be determined based on the candidate's relevant experience. No employee will be paid below the minimum of the range. Pay ranges are listed as hourly for non-exempt employees and based on assumed full time commitment for exempt employees.

What This Job Offers

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