Chief Financial Officer / VP Finance

Chief Financial Officer / VP Finance

Masonicare Corporate Services - Wallingford, CT

Full Time / Salaried / Exempt

Direct financial and related business support services that are fundamental to the successful achievement of Masonicare’s short term and long term financial and operational objectives. 

Essential Duties and Responsibilities:

1. Strategic:
   1. Participate in development and implementation of organization strategic plan.
   2. Identify opportunities which may result in improved financial performance ensuring sustainability of the organization and its mission(s).

2. Direct the development, implementation, operation, maintenance, and control of essential financial and related business information. The position is the focal point for defining key financial objectives, supporting their achievement, and measuring/reporting their results. 
   1. Evaluate financial results with goal to improve revenue recovery and expense mitigation without adversely impacting the organizations mission(s).
   2. Working with the Compliance Officer and CEO, ensure integrity of accounting and finance systems through development, testing and monitoring of internal control processes and procedures.         Annually, report to CEO and Audit Committee.

3. Oversee debt compliance requirements for commercial loans and CHFA bond issues.  Participate in loan negotiations, review proposed loan terms, cash flow and debt covenant implications and provide recommendations to CEO, Finance Committee and Trustees.

4. Acquisitions, divestitures and new lines of business:        
   1. Participate in transaction negotiations, oversee due diligence review.  Cause to be prepared financial models/forecasts analyzing the impact of a proposed transaction(s) and provide recommendations to CEO, Finance Committee and Trustees.

5. Develop and recommend Masonicare annual operating and capital budgets, and income forecasts, and meets with responsible cost center managers to monitor progress against plan, and recommend plan changes, as necessary to meet targeted objectives. 

6. Primary responsibility for the overall management of Masonicare’s financial resources,  within general guidelines approved by the Board.

7. Prepare reports detailing Masonicare’s financial position, including assets and liabilities, and income and expense, based on historical, current and planned future operations to ensure control of revenue, expenditures, and conservation of assets.  Identify and investigate variances and report to the CEO and Trustees as directed.  

8. Direct the functions of revenue realization, reimbursement, resident and patient accounting, accounts receivable recovery, accounts payable and general accounting, which encompasses entire financial accounting and reporting system. 

9. Ensure prompt and accurate financial reporting and filings to state and federal governments, and completion of regulatory reporting. 

10. Participate in developing cost-effective property and liability insurance protection is in place and initiates or participates in other proactive measures have been taken to afford maximum protection to the Corporation, its employees, management, outside directors, patients and residents.
    1. Collaborate with the captive insurance company risk management team to evaluate property and liability insurance needs of the organization and assist in identifying possible areas of risk not addressed.
    2. Collaborate with Human Resources to evaluate insured and self-insured employee benefit programs, their cost effectiveness and financial impact of alternative solutions.  Keep abreast of industry trends in employee benefits and cost containment initiatives.
    3. Ensure regulatory compliance of the captive insurance company as well as state and DOL requirements for employee qualified and non-qualified benefit programs.

11. Oversee internal and external audit reviews are carried out and completed in a timely and efficient manner, and within Generally Accepted Accounting Principals, and that recommendations are evaluated and completed as required.

12. Recommend costs, charges, rates, etc. for Masonicare facilities and services, based on analysis of expenses and reimbursement guidelines; negotiates agreements with third-parties to offer and/or receive services, and with state and federal agencies regarding reimbursement.    

13. Participate in developing the cost impact of human resources policies and programs, such as staff utilization to improve operational efficiency, benefit plan additions and changes, salary increases, etc.

14. Recommend changes to policies and practices of the Finance group; integration of accounting and reporting systems across the continuum; provide real time financial information to lines of business management concerning revenue realization, staffing and other operating costs; collaborate with (MIS) team to identify systems, programs and technology to support business analysis, reporting, and operations.

15. Attend, and when appropriate, presents a financial report at all meetings of the Board of Trustees; serves as a key support of the Finance Committee, Audit Committee and Captive Insurance Board.         

16.  Serve as member of the Executive Management Team, and 401(k) Retirement Savings Plan Committee.

17. Provide professional training to Finance staff to ensure staff is current with industry trends which include accounting and financial reporting changes, governmental compliance requirements.  Meet with lines of business management to better understand their financial results, variances and provide recommendations to mitigate negative variances.

18. Performs other related duties as assigned

Minimum Qualifications:       

Education:                   Bachelor’s degree in Accounting, Finance, or a related field, and a Master of Business Administration preferred 

Experience:                 Extensive experience (preferably 10 years) in the finance function of a diversified continuing care retirement community or home and community based service organization

Certificates/Licenses:  Current Certified Public Accountant required