The Chief Financial Officer (CFO) is responsible for the overall financial operations management of the contract through interfaces with the customer, providers, internal partners and resources, and external parties. This is a key strategic thinker role for an effective business leader to steer the direction of the operations to maximize the needs of the customer, providers and patients, as well as ensuring the financial strength and viability of the subsidiary company is maintained. This position requires oversight of the financial terms and reporting of the financial results for the contracts for which responsible. The CFO is responsible for all internal and external financial reporting for the Company, including production of the monthly, quarterly, and annual reporting packages and providing the parent company with financial data necessary for Securities and Exchange Commission filings in compliance with applicable accounting and SEC principles and requirements. The CFO is responsible for coordination and execution of the annual, external audit for the company.
ESSENTIAL FUNCTIONS (List tasks critical to completion of daily workload)
- Partner with the Network department to interface with providers on contract terms, funding levels and service encounter reconciliation data.
- Negotiation financial terms of customer and provider contracts.
- Be knowledgeable of Medicaid and Medicare financial regulations to ensure proper treatment of service and administrative expenses.
- Analyze provider reimbursement levels to ensure proper expensing of costs within the various Federal and State funding streams.
- Oversee and approve provider fee schedule changes, in coordination with Network.
- Oversee monthly, quarterly, and annual reporting requirements, including the external audit for the Company and financial reporting in accordance with the contract terms.
- Oversee the preparation and review of annual operating budgets and re-forecasts.
- Oversee sub-contractor financial terms and viability, including the collection of key financial and service data.
- Partner with other local leaders to coordinate the most effective direction of the contract.
- Work with IT database staff to insure reconciliation of financial data and to implement standard reports.
- Research of technical accounting issues affecting the Company, in coordination with the Controllers office.
- Oversee and investigate care cost trends and tracking initiatives, in partnership with the Medical Economics Team.
- Oversees development of key medical analytics information including benchmark data to support business decisions. This includes the development of reporting tools with support staff that will measure the impact of targeted initiatives, provide leading indicator information on claim costs.
- Ensure financial compliance with contract reporting guidelines.
- Oversee finance and accounting staff.
- Oversee the monthly financial results closing process and communicate results and issues to other leadership in an effective and timely manner.
- Maintain an ongoing working document of all key issues and initiatives, with regular review meeting among the leadership team to ensure progress.
- Meet with internal and external customers.
8yrs. Experience in Public Accounting, Managed Care, or Comparable Organizations.
Certified Public Accountant (CPA)
4 years of management experience. Strong working knowledge of Medicare and Medicaid.
General Job Information
Senior Finance Director - Local CFO
United States of America
United States of America (Exempt)
Recruiting Start Date
Date Requisition Created
License and Certifications - Required
License and Certifications - Preferred
CPA - Certified Public Accountant - Enterprise
Other Job Requirements
Experience within managed care, health care or insurance company required. Customer service focused with excellent
analytical skills, interpersonal skills and executive presence required. Ability to balance multiple projects and adapt to new
issues/assignments as business needs change; comfortable with ambiguity. Strategic mindset. Experience with direct contract
negotiations of financial terms with external clients (This requirement will vary based on assigned SBU). Demonstrated ability
to influence, negotiate and have a sales perspective are key requirements for success in this role.
Magellan Health Services is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled