General Description:
The Vice President Finance directs, and oversees the accounting functions, tax matters, budgets, financial planning, strategies for balance sheet management for OU Health enterprise. These functions include establishing and maintaining the organization’s accounting principles, practices, procedures, and internal controls as well as tax matters including tax filing and compliance. This position is responsible for the preparation of internal and external financial reporting, the structure and maintenance of the general ledger as well as ensuring compliance with state and federal reporting requirements. The position is also responsible for managing the monthly financial close, accounts payable, payroll, and asset management. Finally, this position is responsible for overseeing cash management, investment, capital market, banking relationships, operational and capital budgets, and financial planning functions. As part of the executive team, the VP will play a critical role in the development of business plans to help guide the strategic direction of OU Health.
Essential Responsibilities: Responsibilities listed in this section are core to the position. Inability to perform these responsibilities with or without an accommodation may result in disqualification from the position.
Plans, organizes and controls the accountancy and financial reporting of the enterprise including hospitals, medical groups, joint ventures and ancillary subunits.
Directs the payroll activities of the organization to ensure timely administration of compensation and compliance with relevant rules, regulations, and policies.
Directs the accounts payable activities of the organization to ensure timely payment of liabilities, maintain vendor relationships, and manages working capital in conjunction with Treasury.
Administrative oversight of all positions supervised including Corporate Controller, Director of Treasury, Director of Financial Planning & Analysis, and Director of Accounts Payable & Payroll.
Supports and partners with financial leadership of the system and facilities on all key financial projects in the areas of accounting & reporting.
Oversees the finance responsibilities related to key external funding opportunities (i.e. FEMA, state grants, philanthropy, etc.).
Establishes processes and supports the accounting needs for the research and philanthropic activities of the organization.
Supervises the management staff in the Financial Services Department including directors, managers, and supervisors. Administrative oversight of all accounting-related positions including formal and informal direction. Works closely with leaders in Treasury, Revenue Cycle, and operations to ensure good understanding of the impact that activities in those areas will have on financial performance and reporting.
Under minimal direction, will be responsible for maintaining the integrity of financial ledgers in adherence with policies and procedures. Maintains the performance and integrity of all accounting information systems and ancillary systems that affect financial reporting and controls.
Timely oversees monthly, quarterly, annual, and ad hoc financial reports prepraration in accordance with Generally Accepted Accounting Procedures (GAAP) and organizational policies and procedures.
Keeps abreast of changes in financial reporting, tax reporting, and compliance requirements related to all aspects of accounting. Communicates changes and the related impact on OUH to executive management
Reviews, interprets, and analyzes financial and statistical data for executive management.
Participates in decision making resulting from financial performance and toward realizing established plans and objectives of the system.
Maintains proper internal controls over financial reporting. Works directly with internal and external auditors to perform analytical and detailed testing, issue audit reports, and ensure proper functioning of controls in accordance with management direction.
Engages with strategy team to plan and incorporate new entities in to the organization as a result of mergers, acquisitions, affiliations, joint ventures, or creation of new operating units.
Creates systems and procedures in place to support effective program implementation and conduct clean audits.
Establishes and maintains corporate accounting policies, procedures and internal controls to ensure conformance with GAAP, Regulatory Agencies, et. al.
Leads, develops, coaches, and effectively manages the team to ensure deliverables and performance metrics are met. Develops team to accomplish results through training, development, performance management and recognition
Ensures cash is managed effectively to maximize return while at the same time ensure needed liquidity. Manages short-term financing requirements of daily cash flow needs including preparation of short-term borrowing report, daily cash report, and cash forecast for senior management.
Coordinates relationships with banks and ensure OUM maximizes benefits of banking services at lowest possible cost. Reviews account analysis statements and ensures OUM maintains best possible rates.
Oversees OUM’s debt portfolio. Ensures compliance with all debt covenants including completion of all required reports and filings, use of tax-exempt bond proceeds, compliance certifications, debt covenant calculations, and continuing disclosure requirements.
Conducts quantitative analysis and oversees complex financial models to inform management on comprehensive debt portfolio, including forecasting projected debt uses, maintaining credit ratings model, and evaluating debt capacity.
Oversees OUM investments both internally and in partnership with external managers in accordance with the OUM Investment policy.
Coordinates treasury reporting packages including information on cash, investments, debt, and credit rating. Presents to senior management, board, and external stakeholders regarding the cash and debt positions of OUM.
Oversees lease versus buy analyses to determine the most efficient method for OUM to finance equipment or realty acquisitions. Assists in the implementation of the equipment leasing policy.
Performs monthly reconciliation of debt, letter of credit administration, and monitors the performance of charitable remainder trusts and other such instruments.
Leads the development of long and short range operational and capital budgets in support of the health system’s strategic plan.
Leads the five-year financial plan to determine current financial situation and identify financials goals and risks.
Prepares presentation materials and financial analysis for senior management, Finance Committee, and the Board as required.
Manages all aspects of the treasury analysis towards achieving growth through merger and acquisitions to ensure debt compliance, estimate cash flow and profitability.
Works with the Office of Philanthropy to structure the donation cash flow, reconciliation, and investments.
Works with Revenue Cycle and Accounting on the overall cash posting and reconciliation to assure optimal three-way match between the bank, the billing system, and the general ledger (Workday).
Works with Pharmacy and accounting to assure that cash is collected and reconciled in a timely manner.
Works on the revenue cycle management and new EHR integration.
Develops and implements ERP integrated AP payment solutions to realize cost-savings, rebate, enhanced security, and optimize working capital.
Reviews monthly financial statements, MD&A, and balance sheet reconciliation.
General Responsibilities:
Performs other duties as assigned.
Minimum Qualifications:
Education: Master's degree in Accounting, Finance, or related field required.
Experience: 10 or more years of leadership experience in financial reporting, treasury, financial planning, accounting, internal controls, and project management within a complex health system. Corporate controllership experience preferred. Merger and acquisition experience preferred. Big four experience preferred. Controller of a publicly traded company preferred. Workday experience preferred.
License(s)/Certification(s)/Registration(s) Required: None required. Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Healthcare Financial Professional (CHFP) preferred.
Knowledge, Skills and Abilities:
Expertise in financial reporting, accounting, and internal controls
Leadership skills to drive performance through delegation to directors, managers, and supervisors
Demonstrated business acumen and ability to balance people/ organizational decisions with business considerations.
Must be a strategic thinker, self-motivated and have excellent problem solving skills
Demonstrated excellence in change management skills and project leadership
Excellent verbal and written communication and presentation skills
Interpersonal skills to successfully interact with people throughout the organization, ability to gain buy-in from multiple people for the good of the organization
Ability to maintain integrity and trust among leadership and staff
Strong working knowledge of Microsoft Office, especially expertise in Microsoft Excel
Working knowledge of accounting information systems; preferably Workday
Skilled in using various analytical tools and techniques and experience using metrics to drive decisions
Position does require working some weekends and holidays to meet deadlines