Job Summary: The VP of Finance oversees the financial operations of the Cedars-Sinai Health System (CSHS) and is responsible for planning and recommending financial management policy to the Chief Financial Officer. The incumbent directs and coordinates financial policy and activities to assure short-term fiscal discipline and long-term financial strength for Cedars-Sinai and its affiliated entities. The VP of Finance is responsible for the overall management of the financial decision support and reimbursement functions including Financial Plan evaluation and coordination, Hospital Departmental Budgeting, Financial Decision Support/business plan evaluation, Cost Reimbursement, Value-Based Program financial evaluation, Medical Education financial evaluation/compliance, Productivity/efficiency planning and implementation, and financial components of patient financial services including cash packages/physician engagement/education, regulatory compliance/evaluation.
In this capacity, the VP of Finance reports to the Chief Financial Officer and collaborates heavily with senior leadership across the organization.
Primary Duties and Responsibilities:
Plans and recommends to the CFO overall financial policies and programs to protect and optimally utilize the financial resources of the Cedars-Sinai Health System.
Analyzes and interprets data and provides the CFO and Finance Committee of the BOD with information on the current and projected financial condition of CSHS and entities within the health system, and provides recommendations to maintain and improve financial viability.
Serves steering committee(s) and/or leadership team(s) for large-scale projects and strategic initiatives impacting the organization's overall financial strength and growth.
Oversees Finance Decision Support, including the development and application of various tools and systems to provide cost accounting and to coordinate with commercial payor contract negotiations to ensure long range plans align with reimbursement changes.
Partnering with VP, Finance, establishes and implements financial metrics and productivity targets for the organization to ensure alignment with long-range financial plans and adherence to industry benchmarks.
Supports strategic and innovative thinking in order to transform and adapt to the realities of the healthcare industry and advance the institution’s long-term financial health. Demonstrates the unique role strategic finance plays for growth related activities
Works closely with the Executive Leadership Team to drive process improvements focused on innovation and continued business diversification models designed to improve financial outcomes, and drive growth.
Partnering with VP, Research and VP, Facilities Planning, develops state of the art methodologies to optimize the utilization of research space, research capital and research financial support.
Coordinates and ensures compliance with the regulations and requirements of extramural funding agencies with the VP of Research Administration.
Recruits, develops and retains a high-performing team focused on problem solving, accountability, and improved business practices.
Coordinates from a corporate financial perspective all contracts, joint ventures, mergers and acquisitions.
Serves as a trusted institutional voice across all categories of staff through transparent communication of financial information with key performance metrics and how they relate to vision and strategy in a way that non-financial professionals can easily understand. In partnership with the COO and CME develops a regular operating rhythm of monthly financial and operating reviews with senior faculty and administrative leadership.
Communicates, provides leadership, educates, and renders advice and counsel to members of the PEAC, other Vice Presidents of Operations, vice presidents, management, medical staff and employees as relates to financial management.
Maintains an in-depth knowledge of changing economic, political, regulatory and social environments and their impact on the health system, in order to monitor and evaluate the adequacy of existing support services, ensure the development of financial services and systems to respond to the organization's needs and comply with requirements imposed by external agencies.
Monitors industry "best practices", develops and implements operational and services enhancements as required by changing environments, technological advances and appropriate service and delivery strategies.
Education: Bachelor's Degree in Accounting, Finance, Business Administration or related field of study required Master's Degree in Business Administration or Certified Public Accountant (CPA) certification and experience working in public accounting is preferred
Experience: 10 years progressive broad-based healthcare financial management experience in a public accounting firm and/or healthcare delivery organization required 3 years experience with financial aspects of postgraduate medical education and extramurally funded research preferred
Working Title: VP, Finance Operations Department: SVP Finance Business Entity: Corporate Services Job Category: Executive Management Job Specialty: Executive Management Position Type: Full-time Shift Length: 8 hour shift Shift Type: Day
Providing healthcare for more than 100 years, Cedars-Sinai has evolved into one of the most dynamic and highly renowned medical centers in the world. Along with caring for patients, Cedars-Sinai is a hub for biomedical research and a training center for future physicians and other healthcare professionals. This attracts exceptional talent to Cedars-Sinai, including world-renowned physician-scientists who seek a place where they can both conduct research and see patients--the ideal formula for discovery and its translation into cures. Our patients benefit from access to doctors at the top of their fields, and our researchers have an ideal community in which to study the impact of healthcare challenges, and reflect that knowledge in their research. The greater Los Angeles area in which Cedars-Sinai resides possesses unparalleled cultural and ethnic diversity which offers outstanding opport...unities for translational and clinical research and a dynamic environment for medical education.Although community based, Cedars-Sinai is a major teaching hospital affiliated with the David Geffen School of Medicine at the University of California, Los Angeles (UCLA). Cedars-Sinai has highly competitive graduate medical education programs in more than 50 specialty and subspecialty areas, a graduate program in biomedical sciences and translational medicine, a clinical scholars program directed towards junior physicians with aspirations to become clinical scientists, and post graduate training opportunities.There are more than 250 full-time faculty members at Cedars-Sinai. The voluntary medical staff, comprised of more than 2,200 specialty board-certified or board-qualified physicians, represent all of the specialties and subspecialties and collaborate with full-time medical staff in the teaching responsibilities of the graduate medical education programs.