Vice President, Finance & Accounting Operations

MedStar Health
Columbia, MD
Oct 03, 2022
Oct 10, 2022
Full Time
Job SummaryResponsible for overseeing all aspects of MedStar's financial and accounting operations, including financial transaction processing, financial close and consolidation, accounting policy and procedures, internal and external financial reporting, and technical accounting matters for the System's more than 20 entities and $5.5 billion in annual net revenue. Responsible for the System's centralized Accounts Payable and Payroll departments and serves as a strategic partner by engaging with leaders within MedStar to anticipate business issues and drive strong decision-making through sound financial management and application of accounting expertise. This highly visible position has seven direct reports (three Assistant Vice Presidents, three Directors, and an Executive Assistant), responsibility for more than 100 associates, and is an important part of the System's succession planning program.Minimum QualificationsEducation/TrainingBachelor's degree in accounting.Experience10 years of progressive financial accounting and management experience in health care with at least 8 years current or prior experience with a Big 4 accounting firm.License/Certification/RegistrationCPA licensure required.Knowledge, Skills & AbilitiesExceptional technical, communication and leadership skills are a requirement. Advanced knowledge of project management; ability to lead multiple projects and associated personnel and achieve required results and timelines.Primary Duties and ResponsibilitiesBuilds and enhances a strong team that provides proactive support and results-driven execution of responsibilities to meet the current and future needs of the business. Manages and coaches employees to facilitate associate engagement and professional development. Continually strives to develop talent within the finance organization to promote individual development.Collaborates with the Vice President of Financial Planning and Analysis to support MedStar's annual operating and capital budgeting processes, and the long range forecasting process, and provide input/make recommendations related to the system-wide ERP.Coordinates with entity finance personnel to understand monthly financial results and monitor entity performance against MedStar's annual budget and other key performance indicators and financial metrics.Develops and contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards and safety standards. Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.Develops, implements and maintains standard operating procedures and performance measures to ensure a sound internal control environment in order to adequately safeguard the assets of the organization and to assure accurate financial reporting for both management and external purposes. Promotes consistent levels of timeliness, accuracy and completeness in work product and achieve stated performance measures.Develops, implements and monitors compliance with generally accepted accounting principles (GAAP) and company policies/procedures, while working with other departments and the System's entities to implement best practices throughout the organization. Provides technical subject matter expertise on enterprise wide accounting initiatives.Ensures accounting and other financial IT systems and processes are maintained and continually streamlined via process improvements to achieve greater efficiency and accuracy in the level and timeliness of reporting.Identify changes in accounting guidance, and monitor processes for compliance with accounting literature, including the adoption of new accounting pronouncements. Evaluates current accounting practices and policies and drive continuous improvement.Interfaces with operational teams, such as Patient Financial Services, Rates and Reimbursement, Insurance Operations, Human Resources, and Risk Management, and internal and external actuaries to develop significant accounting estimates such as revenue related reserves, malpractice and other self-insured liabilities, pension, and insurance claims liabilities.Leads the relationship with our external auditors, including managing the annual audit and quarterly review processes, and ensure the prompt implementation of management decisions in response to internal/external audit recommendations. Acts as liaison between auditors and other MedStar financial departments to coordinate audit execution and to facilitate other matters, as necessary, including financial, A-133 audits and employee benefit audits.Oversees the activities of the system-wide Accounts Payable and Payroll departments, ensuring the accurate and timely processing of accounts payable, purchase orders, employee expense reports, payroll processing and payroll tax compliance for the System's 30,000 employees.Oversees the activities of the system-wide General Accounting department ensuring the accurate preparation of journal entries, maintenance of the general ledger, timeliness of the month-end close process, and communications with entity finance personnel.Oversees the preparation of all of MedStar's internal and external financial reporting, including the annual audit report, quarterly filings, internal financial statements, and other reports to summarize and interpret current and projected company financial position. Assures the maintenance of appropriate supporting documentation for those financial statements, including primary responsibility for chart of accounts, general ledger and other related records. Prepares presentations for the System's Board, Finance and Audit Committees.Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings, serves on committees and represents the department and hospital/facility in community outreach efforts as appropriate.Performs contract review and advise System leadership regarding new programs/financial issues in a consultative role, making recommendations about the financial implications of a decision. Supports the evaluation and identification of issues and feasibility of collaborative efforts impacting MedStar.Performs other duties as assigned.Performs technical research and prepare technical memorandums related to transactions (ie, joint ventures, contracts entered into by corporate departments, legal cases, acquisitions/divestures, leases, etc.). Liaise with the external auditors to review the proposed accounting treatment as necessary.Provides timely updates to senior finance management on issues and status of major projects including identification of potential risks and development of contingency plans that address issues as needed.Reviews, investigates and corrects errors and inconsistencies in financial statements, documents and reports to ensure integrity of all financial information.Serves as senior technical advisor to the EVP, CFO on all matters pertaining to external auditors, investment bankers and other external reporting and regulatory bodies. Assures compliance with federal, state, local and corporate policies, regulations and laws.

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