Vice President, Finance

Summary

Under the direction of the Chief Financial Officer/Chief Operating Officer (CFO/COO), and in cooperation with other divisions, this position is responsible for all financial and data processing activities of BHS, including the coordination and preparation of monthly financials and annual audits. This position will also make recommendations on pricing, short and long range fiscal planning.

Specific Duties:

Under the direction of the CFO/COO, and in cooperation with other divisions:

  1. Be directly responsible for the day-to-day operations of all corporate accounting functions, to include A/P, A/R, P/R, G/L, and Cash Management.
  2. Review and approve monthly and year-end journal entries, financial statements, analysis of accounts and assist in yearly audit process.
  3. Ensure compliance with GAAP and corporate policies/procedures and budgets; develop and recommend policies as deemed appropriate.
  4. Prepare and maintain accurate client cost reports and summaries in coordination with utilization/statistical and management information.
  5. Maintain profit/loss detail by client program; maintain dual contract direct cost and pricing systems.
  6. Act as liaison with external agencies on related matters, i.e., banks, audit firms. Prepare reports, tax returns as directed. Direct tax planning efforts as appropriate.
  7. Assist in pricing of existing and proposed products and services; maintain financial information on competitive products and services.
  8. Direct and oversee the Corporation’s data processing division and accounts receivable process, to include appropriate computerization, accuracy of client bills and calculations of copays and deductibles, paid claims summaries and provider disbursements.
  9. Serve as liaison with external providers, client companies and affiliated TPA companies.
  10. Assist in preparation of annual corporate goals and objectives, budgets and long range fiscal projections. Monitor adherence to corporate budgets. Perform feasibility studies/related projects as directed.
  11. Supervise data processing division and accounting division staff as applicable.
  12. Participate in business development activities such as preparation of cost and utilization analyses, marketing strategy, and benefit plan analysis. Attend sales presentations as appropriate.
  13. Serve as resource to all other divisions in the company and generate special reports as requested.
  14. Serve on the committees of Administrative Council, Client Cost, Network Development, IT Systems Development, the Board of Directors (ex-officio), and other committees as appropriate.
  15. On a regular basis, monitor the company’s financial position compared to budget and prepare related reports. Ensure compliance with all bank covenants and requirements.
  16. Ensure a 100% clean independent audit annually.
  17. Maintain updated financial policies and procedures. Review annually and make recommendations as deemed appropriate.
  18. Engage in Provider Relations/Network Development activities as directed or requested, to include site visits, rate negotiations, case-specific provider issue resolution, and contract review. Design and implement a weekly/bi-weekly provider payment process.
  19. In coordination with IT, participate in all IT development efforts that relate to areas under the Finance division.
  20. Stay current on medical and mental health benefit plans and all related regulations, i.e., ACA, mental health parity, HIPAA, etc. Analyze and interpret medical/mental health benefit plans.
  21. Advise CFO/COO, and CEO on activities in field. Keep abreast of developments in field and provide regular updates and reports. Serve as a resource to other divisions as needed.
  22. Perform other related duties as directed or deemed appropriate. Attend meetings as requested.

Qualifications:

  • Advanced degree in accounting or related field (MBA) or CPA certification required.
  • Minimum 5 years’ experience in similar position in healthcare related company.
  • Proficiency in current IT platforms, with expertise in Excel, Access, Word, etc.
  • Supervisory experience required.
  • Prior responsibility for all accounting and DP functions.
  • Familiarity with healthcare regulations with MHPAEA preferred.
  • Experience in analysis of medical/mental health benefit plans.
  • Excellent communication skills (written and oral) with group presentation experience.

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