Chief Operating / Financial Officer - Full Time

Description

Job Summary

Reporting to the CEO, the Chief Operating-Financial Officer (COFO) is responsible for overseeing day-to-day hospital operations and supporting the strategic direction of the facility. This role ensures the delivery of high-quality, cost-effective care while fostering a culture of excellence and collaboration. The COFO provides leadership to staff and departments, promotes MMH’s mission and values, and works closely with the CEO to drive performance, patient satisfaction, and community engagement. Responsible for the overall financial performance, principles, theories, and concepts related to financial matters at Minidoka Memorial Hospital.

Duties and Responsibilities

Operations

• Establish a plan to address productivity, operational performance, staff retention, and satisfaction.
• Demonstrates high visibility, consistently interacting with key stakeholders to inform, advise, listen, encourage, and challenge (e.g. routine rounds with employees, physicians, patients, etc.).
• Optimizes financial and human resources by overseeing day-to-day operations in a high-quality and cost-conscious manner (e.g. maintains appropriate staffing ratios, oversees throughput in high-volume departments, actively manages quality initiatives, leads successful supply cost initiatives).
• Clearly understands and communicates the Balanced Scorecard metrics and targets to the organization (e.g., reviews performance and builds action for lagging areas with Administration and Department Directors/Managers).
• Demonstrates high level complex problem-solving abilities (e.g., identifies drivers of service line losses and potential areas of improvement).
• Understands business development and physician recruitment strategies that lead to competitive advantage.
• Understands financial indicators/levels and delivers year-over-year improved financial performance.
• Uses financial and productivity analysis vs. anecdotes to make decisions (e.g., continually reviews cost and productivity reports and directs efforts for improvement in targeted areas of opportunity).
• Provides ongoing feedback, measurement, and assessment process that measures performance to plan and cause course correction for direct reports. 
• Capable of working with staff and assisting them in their continued development, as well as enhancing their performance in a supportive team environment.
• One who is open to change and new information, adapting behavior and work methods in response to new information, changing conditions, or unexpected obstacles. Someone who adjusts rapidly to new situations warranting attention and resolution.
• A high orientation to detail with proven analytical and financial skills.

Financial

• Oversees and directs treasury, budgeting, audit, accounting, purchasing, real estate, long range forecasting, and insurance activities for the organization.
• Directs the controller in providing and directing procedures and computer application systems necessary to maintain proper records and to afford adequate accounting controls and services.
• Appraises the organization's financial position and issues periodic reports on organization's financial status.
• Directs and coordinates the establishment of budget programs.
• Analyzes, consolidates, and directs all cost accounting procedures together with other statistical and routine reports.
• Oversees and directs the preparation and issuance of the annual cost reports and audit.
• Evaluates and recommends business partnering opportunities.
• Establishes and maintains contacts with financial institutions and the investment community.
• Oversees specific departments as appointed by the CEO.
• Directs the preparation of short-term and long-range plans and budgets based on short and long term goals and growth objectives.
• Establishes operating policies within areas of responsibility, consistent with the CEO’s broad policies and objectives and ensures their execution.
• Evaluates the financial results of overall operations regularly and systematically and reports these results to the CEO and Board of Trustees.
• Ensures that the responsibilities, authorities, and accountability of all direct subordinates are defined and understood.
• Ensures that all organization activities and operations are carried out in compliance with local, state, and federal regulations and laws governing business operations.
• Actively engage in quality improvement activities.

Requirements

Minimum Requirements

Bachelor’s Degree in Accounting from an accredited college/university or a related Bachelor's.

3 Years of ongoing involvement in community or professional affiliations 

5-7 years of progressive management experience in the healthcare environment

Strong analytical skills necessary as well as working knowledge of computer systems 

Preferred Requirements

CPA or Master’s Degree in Accounting from an accredited college or university

3 to 5 years of experience in a hospital setting

CFO experience at a critical access hospital

Skills/Competencies

An individual of highest personal and professional integrity, principle and knowledge, earning respect and support when making difficult decisions and choices. Able to establish immediate credibility with peers, senior leadership, and medical staff.

Must listen actively and accurately, encourage input from others. Provide clear directions. Maintain an ongoing dialogue with employees to ensure continual progress.

Leadership skills in delegating, organizing, and educating coworkers and staff.

Ability to effectively solve problems and issues.

Able to communicate effectively in English, both verbally and in writing.

Ability to maintain proper levels of confidentiality.

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Bringing others together and trying to reconcile differences.

Motivating, developing, and directing people as they work, identifying the best people for the job.

Provides leadership in building loyalty and commitment throughout the organization.

Ability to identify the need for change, anticipating, recognizing and creatively solving resistance to change; working with others to view change as a challenge and opportunity for growth.

Positive, creative, and innovative with a strong understanding of the business aspects of healthcare.  

Leads by example, able to articulate a clear vision and expectations for patient care services and other areas of responsibility.

Physical Requirements

Sedentary – is considered generally not more than 10 lbs. maximum and occasionally lifting and / or carrying such articles as ledgers, files and small items. Primarily work involves sitting most of the time but may involve walking or standing for brief periods of time. While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel and talk or hear. Specific vision abilities required by this job include close vision for reading medical records, monitors and other equipment. 

MMH provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetic, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of the position without compromising patient care.