Duke University Health System (DUHS) Job Descriptions

DIVISIONAL CFO

Job Title: DIVISIONAL CFO
Job Code: 5154
FLSA: E
Job Level: M1
Revised Date: 06/13/2005
Supervisory Responsibility: Yes

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General Description of the Job Class

The Divisional Chief Financial Officer ??? Hospital will be expected to ensure the provision of financial services and management and will enable the organization and DUHS as a whole to achieve its operational and strategic goals and initiatives in compliance with legal and regulatory requirements. The Divisional CFO is responsible for the overall performance of the Hospital and all aspects of its daily fiscal management. The position will work in conjunction with DUHS resources in order to ensure that the hospital has adequate financial management support to achieve its goals. The Divisional CFO will be a highly visible position within the hospital, and will serve as an advisor to the CEO regarding the financial management of the institution and as an extension of the DUHS financial team.

Duties and Responsibilities of this Level

Primary Responsibilities

Proactively advise and educate management on all aspects, which financially impact the hospital's operations Manage, plan and organize the financial operations of the hospital including financial planning, budgeting and analysis, controllership and revenue cycle functions

Develop, interpret, coordinate and communicate hospital policies on finance, accounting, budgeting, insurance, financial/accounting systems, internal controls and auditing

Provide input to and support finance initiatives driven by DUHS

Ensure division compliance with DUHS closing calendar, planning deadlines and reporting requirements

General Responsibilities

Facilitate organization-wide strategic planning, business prioritization and resource allocation processes in conjunction with DUHS

Communicate financial information to DUHS and collaborate with management regarding the business strategy for the division

Manage hospital finance staff through establishment of performance goals, allocation of resources and assessment of policies of direct reports

Analyze opportunities for acquisitions, divestitures, joint ventures and other strategic alliances and ensure that the opportunities are aligned with DUHS strategy Analyze and interpret data and develop clear and informative methods to present financial information, special projects and focused studies to executive management within the division and DUHS

Evaluate continuously, in coordination with DUHS, the economic and social forces and government influences, and interpret their effects upon the division's financial performance

Establish and maintain the objectives and strategy for the finance department that are linked to the DUHS Finance's objectives and strategy Support, communicate and participate in DUHS Finance initiatives Conduct meetings with staff to ensure compliance with established practices, and keep employees aware of current standards and changes that are occurring within DUHS

Direct and control a comprehensive budget including allocations for capital budget, in coordination with the DUHS budget department

Prepare reports for the division and DUHS management outlining the division's financial position in all areas based on past, present and future operations, including variance analysis of actual to budget performance Prepare and affect timely filing of federal, state, hospital association, third party and other financial reports, as required, in conjunction with DUHS

Organize and maintain an effective system of accounting that is aligned with DUHS initiatives

Present recommendations to DUHS management with respect to costs, charges, rates, etc. to provide income to support division initiatives

Consult with and advise other division executives on policies, operations, objectives and financial positioning

Coordinate the production and filing of government required reports, third party rate reviews, and other financial information for associations and the general public, in conjunction with DUHS

Maintain professional growth and development through seminars, workshops, and professional affiliations to keep abreast of latest industry trends

Participate in hospital/medical staff/DUHS committee meetings as required

Attend and serve on professional/civic organizations as hospital representative

Help design and implement performance measurements

Support process change improvement

Perform other related duties incidental to the work described herein

Position Communication

This position will communicate with several key individuals within DUHS Finance. Aside from direct contact with the Hospital CEO, AVP and CFO of DUHS, the Divisional CFO of the Hospital will work with Divisional CFOs of the other DUHS entities, as well as the Associate Vice Presidents in Financial Planning & Analysis, Ambulatory Care and the Controller's organization. Other key relationships will be with the Directors of Internal Audit and Business Information Services, internal and external auditors and consultants. The Divisional CFO will serve as a leader to many other individuals at the Hospital.

Performance Measurement

Performance measurement for this position will be reviewed annually based on performance against a set of goals and objectives developed in alignment with DUHS and functional strategies. The set of annual goals and objectives is to be developed and agreed to by the Hospital CEO, AVP and CFO of DUHS and the Divisional CFO - Hospital.

Required Qualifications at this Level

Education

A Bachelor's degree in Accounting, Business or a Health related field is strongly recommended with a Master's degree and CPA certification strongly preferred.

This position will demand extra time and extended working hours often under conditions of high stress. Therefore, the Divisional CFO must be a strong leader with excellent interpersonal skills.

Experience

A minimum of 10 years experience in general accounting principals, personnel practices, and coordination of major administrative functions is also desirable. It is preferable that experience includes working with external public accounting firms and prior experience as a CFO or Controller within a large hospital.

Degrees, Licensure, and/or Certification

N/A

Knowledge, Skills, and Abilities

The Divisional CFO will need to understand the competitive marketplace characterized by managed care penetration, integrated health delivery and network/partnership development. The ability to understand managed care and to negotiate contracts, understanding the benefits and risks of various contractual arrangements will be important.

Distinguishing Characteristics of this Level

N/A

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The intent of this job description is to provide a representative and level of the types of duties and responsibilities that will be required of positions given this title and shall not be construed as a declaration of the total of the specific duties and responsibilities of any particular position. Employees may be directed to perform job-related tasks other than those specifically presented in this description.

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Duke University is an Affirmative Action/Equal Opportunity Employer committed to providing employment opportunity without regard to an individual's age, color, disability, gender, gender expression, gender identity, genetic information, national origin, race, religion, sex, sexual orientation, or veteran status.

Duke aspires to create a community built on collaboration, innovation, creativity, and belonging. Our collective success depends on the robust exchange of ideas-an exchange that is best when the rich diversity of our perspectives, backgrounds, and experiences flourishes. To achieve this exchange, it is essential that all members of the community feel secure and welcome, that the contributions of all individuals are respected, and that all voices are heard. All members of our community have a responsibility to uphold these values.

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Essential Physical Job Functions

Certain jobs at Duke University and Duke University Health System may include essential job functions that require specific physical and/or mental abilities. Additional information and provision for requests for reasonable accommodation will be provided by each hiring department.