Job DetailsJob LocationBHI Bristol Hospital Main Cam - Bristol, CTPosition TypeFull TimeTravel PercentageNoneJob Shift1st Shift (Days)Job CategoryFinanceDescriptionAt Bristol Health, we begin each day caring today for your tomorrow. We have been an integral part of our community for the past 100 years. We are dedicated to providing the best possible care and service to our patients, residents and families. We are committed to provide compassionate, quality care at all times and to uphold our values of Communication, Accountability, Respect and Empathy (C.A.R.E.). We are Magnet ® and received the 2020 Press Ganey Leading Innovator award for our rapid adoption and implementation of healthcare solutions during the COVID-19 pandemic. Use your expertise, compassion, and kindness to transform the patient experience. Make a difference. Make Bristol Health your choice.Job Summary:Performs all necessary tasks required to provide overall financial direction and support to the Bristol Hospital and Healthcare Group (BHHCG) in the areas of financial reporting, financial forecasting, internal controls, budgeting, accounting, cash management, cost control and related areas.Essential Job Responsibilities:Responsible for Enterprise-Wide System of Internal Control
- Responsible for implementing internal control processes and procedures and developing a sound control environment
- Works effectively with Supply Chain, Patient Accounting, Human Resources to ensure proper procedures and safeguards are in place and enforced. Conducts assessments and provides periodic reports on internal controls detailing deficiencies, any related accounting adjustments, and remedial management actions required to cure.
- Develops systems to safeguard organizational assets and insure the accuracy of internal accounting records.
- Corrects deficiencies noted in outside auditor's management letter.
- Implements recommendations of Internal Auditor.
Manages General Accounting System
- Directs month-end close process ensuring close completion within established time-frame for all system entities.
- Develops, implements, and refines month-end close procedures/checklists
- Ensures accuracy of internal financial statements by establishing procedures for variance analysis
- Ensures an organized and efficient system for maintaining journal entries and supporting documentation exists
- Ensures analysis and reconciliation of all balance sheet accounts is completed on a monthly basis.
- Ensures proper recordation of inter-company transactions including elimination entries
- Produces internal individual entity, consolidating, and consolidated interim financial statements monthly
- Establishes policies and procedures to ensure proper classification and accounting for fixed assets
- Establishes policies and procedures to ensure proper classification and accounting for temporary and permanently restricted contributions and proper and timely releases from restriction as appropriate
- Evaluates leases and other financing arrangements to ensure proper classification as operating or capital
- Stays abreast of all changes in generally accepted accounting principles.
- Ensures accounts receivable contractual allowances are recorded appropriately.
- Oversees the development of internal financial reports and documents.
Responsible for Financial Planning, Budgeting, and Reporting Processes
- Continuously develops and refines financial systems to enhance financial reporting.
- Develops and maintains rolling financial forecasts and conducts scenario planning as needed
- Responsible for the reporting required by bondholders and bond covenants
- Responsible for overseeing the preparation of the BHHCG budget for all entities
- Produces consolidated budget for the enterprise
- Works with Executive Leadership in development of budget assumptions
- Prepares supporting schedules and other related materials
- Supports BHHCG Business Planning and incorporates plans into the budget process.
- Performs complex financial analyses, including what If analyses.
Coordinates Annual Audit of Financial Statements
- Schedules interim and year-end field work with external auditors
- Develops and provides prepared by client (PBC) schedules, reconciliations and roll-forwards as requested by audit team
- Provides timely responses to auditor inquiries and questions
- Conducts routine audit status meeting with external audit staff; briefs Executive leadership on status
Manages Cash Activity
- Develops projections and historical analyses of cash flow.
- Recommends enhancements to cash management systems.
Manages Timely Completion of Cost Reports
- Directs the timely and accurate preparation of year-end cost reports.
- Stays abreast of reimbursement changes and develops Hospital systems to assure compliance.
Responsible for the Professional Growth and Development of Assigned Staff
- Provides leadership and guidance to assigned staff members
- Creates and fosters a learning environment; Evaluates staff for areas of professional strength and weakness; leverages strengths and addresses weaknesses
- Mentors staff to increase competencies and expand skills/knowledge
- Guides staff in advancing their education and achieving professional certifications
- Provides staff cross training to expand skills and increase bench strength
Maintains Responsibility for Own Professional Growth and Development
- Regularly evaluates professional areas of strength and weakness, and seeks opportunities for professional growth and development.
- Develops plans to meet learning needs.
- Shows progress towards achievement of professional and educational goals.
- Demonstrates initiative in seeking cost effective methods of augmenting professional knowledge and skills.
QualificationsCANDIDATE EXPERIENCE, ATTRIBUTES AND EDUCATION REQUIREMENTS At least ten years of progressive hospital finance experience. Solid experience with AP, fixed assets, property tax reporting, cost accounting, and auditing. Proficient working knowledge of spreadsheets and database. Good organization skills with the ability to prioritize workload and successfully manage all financial activities. Demonstrated success in building value with an ethical manner and achieving financial expectations. Substantial financial management experience including financial operations, strategic and financial planning, contracts, reimbursement, budgeting and capital financing in a complex environment. A thorough understanding of healthcare trends with the ability to anticipate opportunities. Knowledge/Skills/Abilities Ability to multi-task, problem-solve, use personal computer and related software, and work independently. Solid analytical skills, strong interpersonal skills, excellent organizational skills, professional and effective presentation skills, and strong ability to prioritize efficiently. Knowledge of cost accounting and budget systems, knowledge of Generally Accepted Accounting Principles (GAAP), process improvement and quality skills, project management skills, and effective written and verbal communication skills. Professional Attributes A cooperative approach to problem-solving with the ability to build consensus and support, working across functional lines to engage disparate resources to work together to achieve desired results. A broad financial thinker and team player who works well with ambiguity and is able to transfer the vision/mission of the organization into a focused financial strategy and detailed practical plan for the future. An intuitive thinker who generates ideas and recommends new and/or modified approaches. Personal Attributes An individual of highest personal and professional integrity, principle and knowledge, earning respect and support while making difficult decisions. Ability to establish immediate credibility with subordinates, peers, senior management, board members, and medical staff. High energy, flexibility and the ability to work under pressure in a matrix organization. Must listen actively and accurately, encourage input from others. Provide clear directions. Maintain an ongoing dialogue with employees to ensure continual progress. Someone with the ability to work collaboratively with individuals critical to the successful execution of financial tasks. Excellent oral and written presentation skills. Education/Certifications A Bachelor's degree in Finance, Accounting or related field. An MBA, MHA, or other related graduate degree is preferred. CPA designation is required.Bristol Hospital Mandated Educational Requirements:General orientation at time of hire. Fire/Safety/Infection Control annually. Other programs as mandated by Hospital. Other educational requirements as determined with input from Education & HRD department.Physical Requirements:Extended sitting, standing and walking. Occasional lifting of office supplies and materials,usually under 50 pounds.Work Environment:Normal office environment with adequate heat, light and ventilation.DisclaimerThe above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.