Description
North End Community Health Committee, Inc. (d.b.a. NEW Health) was founded in 1971 as one of the first Federal Community Health Centers, FQHCs in the country, under the federal health center program (Section 330 of the Public Health Service Act). NEW Health is a non-profit 501 (c)(3) organization that provides ambulatory primary care, behavioral health, dental, vision and podiatry services, and other enabling and support services to patients primarily living in the North End and Charlestown neighborhood of Boston. NEW Health is an affiliate of Massachusetts General Hospital, MGH and Boston Medical Center, BMC. The health center is a $30 million organization that provides comprehensive healthcare services and programs in three locations, the North End, the Charlestown Bunker Hill Housing Development, and at Charlestown High School. The health center's main location is at 332 Hanover St. Boston, MA 02113.
The Chief Financial Officer (CFO) provides executive leadership and oversight for all financial operations of North End Community Health Center, Inc. (d.b.a. NEW Health). The CFO will leverage their expertise in accounting, finance, and strategic planning, ensuring fiscal responsibility, regulatory compliance, and alignment with organizational goals. The CFO will play a pivotal role in ensuring the financial sustainability and integrity of NEW Health, overseeing all financial operations, strategic planning, budgeting, and reporting, while also ensuring regulatory compliance.
Reporting to the CEO, the CFO will develop financial systems to maintain effective records, monitoring, and reporting. They will implement robust processes for budgeting, forecasting, and contract management while consulting closely with leadership and the board of directors on financial strategy.
As a key decision-maker, the CFO will enhance financial analysis to strengthen contract and grant management. This role requires the ability to adapt to a rapidly evolving workplace, manage teams, and promote diversity, equity, and inclusion. They will be a solutions-oriented, ethical leader able to translate complex financial data into actionable insights. Your financial acumen and communication skills will provide oversight for continued growth and sustainability.
Responsibilities:
- The CFO will develop/utilize tools and systems to provide critical financial and operational information to the CEO, the leadership team, and the board of directors, and make actionable recommendations on both strategy and operations.
- Advisor to CEO on all financial related matters.
- Develop and implement comprehensive financial strategies aligned with the health center's mission and objectives, ensuring long-term financial sustainability and growth.
- Perform data-driven evaluation of the organization's financial performance against annual budgets and strategic plans.
- In partnership with the CEO, engage the budget and finance committee around issues, trends, and environmental developments that pose financial risks or opportunities, proposing mitigating strategies.
- Lead the annual operating and capital budgeting process for the health and for funding and program sources and service agreements with affiliate organizations, forecasting financial performance, analyzing variances, and providing strategic recommendations for senior leadership, as well as the finance committee and board of directors.
- Manage and develop financial information technology systems to meet financial data processing, control, information, and reporting requirements.
- Establish, update (as needed), and implement policies and procedures for internal controls around financial management functions, including developing and implementing succession plans for key financial roles within the health center.
- Collaborate with staff in grant applications in the preparation of the financial components related to periodic grant reporting and management of grant awards.
- Oversee and manage all financial and regulatory matters related to the health center's 340B and Retail Pharmacy.
- Prepare accurate and timely monthly and year-end financial reports for executive management and the Executive Board, Finance Committee, Board of Directors, and related meetings and purposes, in compliance with relevant regulatory requirements and accounting standards.
- Prepare timely reports and documentation for the annual audit; manage the independent outside audit.
- Oversee preparation of all tax-related documentation, including form 990.
- Monitor the budget and guide directors and program leaders in budget management.
- Manage cash flow, liquidity, and banking relationships, ensuring efficient cash management practices, and optimizing investment opportunities, including managing any debt/line of credit.
- Assure compliance with state, federal, and local governmental requirements, and regulations, including appropriate filings, payments, and reporting.
- Oversee, implement, and support the health center's responsibilities for financial and service management.
- Manage the timely and accurate operation of purchasing, procurement, and accounts payable, as well as cash receipts/cash management. Establish and maintain internal controls.
- Ensure that company insurance coverage levels and types are appropriate; review and update as needed.
- Assess and mitigate financial risks through effective internal controls, insurance coverage, and risk management strategies, safeguarding the health center's assets and reputation.
- Manage and maintain the contract management processes, ensuring compliance to policy/procedure and updating related documents as needed. Streamline and optimize financial processes and systems to enhance efficiency, accuracy, and transparency, leveraging technology where applicable.
- Provide strong leadership to the finance team, fostering a culture of accountability, collaboration, professional development as well as mentoring, managing work allocation, training, problem resolution, performance evaluation, with a focus on fostering diversity inclusion and belonging.
- Meet regularly with program leaders to review program financial statements and to ensure budgetary compliance and fiscal performance.
- Work directly with the budget and finance committee and the full board to ensure accurate and timely information is provided to support the board's capacity for effective financial management.
- Cultivate strategic financial partnerships to enhance the health center's financial standing.
- Collaborate with internal staff and external stakeholders (e.g., donors, government agencies, and financial institutions) to foster strategic partnerships and support fundraising efforts.
- Maintain knowledge of current financial/accounting trends and maintain financial expertise by continuing education including conferences and trainings.
Qualifications:
- Master's degree in accounting or finance preferred. (MBA)
- 10+ years of experience in financial management, with a focus on non-profit healthcare organizations.
- Experience managing state and federal grants preferred, and ideally experienced with reporting requirements for Health Service Resource Administration (HRSA) grants.
- Proven senior leadership experience in managing financial operations and providing strategic financial guidance in a non-profit organization with an annual budget of at least $25 million.
- In-depth knowledge of nonprofit accounting principles, generally accepted accounting principles (GAAP) and financial reporting.
- Possess a deep understanding of Financial Accounting Standards Board (FASB) standards, ensuring accurate financial reporting and compliance with industry accounting principles.
- Demonstrated expertise in federal grant management regulations.
- Possess a strong understanding of Internal Revenue Service (IRS) regulations, ensuring compliance with tax-related requirements and maintaining fiscal responsibility within established legal frameworks.
- Proven track record of strategic financial planning, budgeting, and analysis with the ability to translate financial data into actionable insights.
- Commitment to the mission and values of the Massachusetts League of Community Health Centers.
- Ability to adapt to a dynamic and evolving environment.
- Dedication to equity, diversity, and inclusion in the workplace with an awareness of, and value for, cultural competence.
Skills Required:
- The CFO must be a trustworthy and responsible professional with unquestionable integrity, credibility, and ethical character and behavior.
- The CFO must be a team player committed to working with diverse populations as well as a commitment to the health of our communities.
- Demonstrated proficiency with MS Office applications, especially Word, Excel, and PowerPoint.
- Demonstrated proficiency with accounting software; Intacct, MIP, Verity, UKG and/or similar software strongly preferred.
- Strong interpersonal and communication skills (written and verbal); experience in effectively communicating key data, including presentations to management, board, or other outside partners.
- Demonstrated ability to provide financial leadership, including strategic thinking, business acumen, managing others, and providing clear direction with staff at all levels throughout the organization. Ability to build relationships and communicate financial concepts to non-financial stakeholders.
- Ability to align individual goals with the strategic goals of the organization, as well as understand external impacts on internal strategy.
- Demonstrated ability to appropriately handle and manage highly sensitive information and communication.
- Keen analytic, organization, and problem-solving skills which allow for strategic data interpretation versus simple reporting.
- Ability to maintain a high level of accuracy in preparing and entering information.
- Must have reliable transportation to get to other sites and meetings as needed.
Supervisory Responsibility:
EEO Statement
Massachusetts General Hospital is an Affirmative Action Employer. By embracing diverse skills, perspectives and ideas, we choose to lead. All qualified applicants will receive consideration for employment without regard to race, color, religious creed, national origin, sex, age, gender identity, disability, sexual orientation, military service, genetic information, and/or other status protected under law. We will ensure that all individuals with a disability are provided a reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
Primary Location: MA-Boston-MGH North End Waterfront Health
Work Locations: MGH North End Waterfront Health, 332 Hanover Street, Boston 02113
Job: Professional/Managerial
Organization: Massachusetts General Hospital (MGH)
Schedule: Full-time
Standard Hours: 40
Shift: Day Job
Employee Status: Regular
Recruiting Department: MGH North End HC Administration
Job Posting: Sep 16, 2024
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