Director, Finance

Director Finance

MedStar Family Choice

 

• Facility Name: MedStar Health

• Location: Washington, DC

• Category: Administrative & Professionals

• Sub Category: Other

• Position Type: Full Time

• Shift Day: Day

• Work Arrangement: Hybrid

• Req ID: 156681

About the Job

 

General Summary of Position

Key financial leader with accountability for MedStar Family Choice - DC. The Director of Finance is key personnel and responsible for leading managing and/or coordinating MFC-DC's Medicaid Finance strategy financial analysis planning regulatory relationships financial operations financial regulatory reporting and related activities in the District of Columbia. The Director of Finance will also have responsibility ad-hoc reporting budgeting and forecasting. Works with the Finance team and partners with MedStar centralized accounting and finance teams to prepare for presentation of financial results budget and financial forecasts to senior management.

 

Primary Duties and Responsibilities

 

• Contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality standards and safety standards. Complies with governmental and accreditation regulations. Consistent with MFC's strategic and operating plans develops departmental goals objectives policies and procedures.

• Assists in building and retaining a high-caliber professional team essential to a high performance organization. Assists in motivating and engaging staff leading change building trust and consensus and appropriately delegating and empowering Financial Analysts.

• Advocates for the quality and financial sustainability of the Medicaid business.

• Attends regulatory meetings as requested and coordinates external audits initiated by regulatory agencies.

• Serves as primary liaison between MFC-DC and the Regulatory Agencies regarding financial items.

• Maintains current knowledge of the Medicaid managed care and risk industry and researches potential policies practices and trends. Understands MFC's competitors and is aware of how strategies and tactics work in the marketplace.

• Develops spending and business initiative recommendations based on financial trends.

• Oversees preparation of financial regulatory filings on a monthly quarterly and annual basis. Obtains and analyzes financial reports filed by other managed care organizations to compare MFC's performance.

• Provides review and input into trend data supporting the preparation and analysis of incurred but not reported (outstanding claims liability) estimates on a monthly basis for the DC operations. Analyzes results coordinates research and actuarial verification of estimates and serves as a point of contact with independent actuary. Prepares recommendations for senior management regarding appropriate medical expense accruals.

• Oversees the preparation and review of internal financial and operational reports which include but are not limited to revenue claims clinical and membership information. Performs ad-hoc analysis and develops various other tools to effectively contribute to the business goals of MSFC on a monthly and as needed basis.

• Prepares monthly financial statements and related financial analyses and presentation materials for the executive management team including board presentations. This includes preparation of monthly variance analyses and participation in a monthly financial review teleconference with MedStar Health to provide explanations for financial results.

• Oversees and supports the preparation of the annual operating and capital budget and all financial forecasts for MFC - DC. Provides monthly actual vs. budget reports to leadership. Prepares explanations of variances and prepares monthly narrative of operating results and quality of earnings reports.

• Supervises the preparation and maintenance of records files and other documents. Maintains departmental reports and records and collects statistical data for administrative and regulatory purposes.

• 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.

• Promotes a collaborative working relationship with all members of MedStar Health's finance departments including; Finance; Accounting; Payment Services; and Payroll. Specifically serves other teams on the following major area of focus: annual forecast and budget; monthly payroll and accrued expense journal entries; time sensitive payments and credit holds; and payroll allocations.

Minimal Qualifications

Education

 

• Bachelor's degree In Finance/Accounting or related field of study required and

• Master's degree In Business Administration Health Administration or related field preferred

 

Experience

 

• 5-7 years of Progressively responsible experience in finance/accounting in managed care/health plan organization healthcare delivery systems or health insurance required. Minimum of 6 years' experience strongly desired.

• Strong knowledge of Medicaid Managed Care required

Licenses and Certifications

 

• Certified Public Accountant (CPA) preferred
  

Knowledge Skills and Abilities

 

• Strong leadership skills and commitment to a team approach.

• Familiarity with management reporting metrics and goal setting.

• Ability to work independently achieve tight deadlines and take initiative on multiple projects.

• Excellent knowledge of Payor Regulations GAAP and health plan financial performance metrics.

• Good knowledge of computer and accounting software (PeopleSoft Hyperion) Microsoft Excel and Word as well as data analytic skills.

• High-level problem-solving skills.

• Ability to identify and propose solutions to moderately complex problems such as understanding causes of variation in capitation revenue or medical expense.

• Excellent verbal and written communication skills.

 

This position has a hiring range of

 

USD $114,004.00 - USD $219,960.00 /Yr.

 

In addition to your salary, MedStar Health offers a comprehensive healthcare package (including medical, dental and vision subject to eligibility requirements) and other benefits. The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by MedStar Health.  MedStar Health is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws.

The hiring range is the range MedStar Health, in good faith, believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on work experience, education and/or skill level, etc. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in MedStar Health's sole discretion unless and until paid and may be modified at MedStar Health's sole discretion, consistent with the law.

Why MedStar Health?

At MedStar Health, we understand that our ability to treat others well begins with how we treat each other. We work hard to foster an inclusive and positive environment where our associates feel valued, connected, and empowered. We live up to this promise through:

 

• Strong emphasis on teamwork—our associates feel connected to each other and our mission as an organization. In return, our effective team environment generates positive patient outcomes and high associate satisfaction ratings that exceed the national benchmark.

• Strategic focus on equity, inclusion, & diversity—we are committed to equity for all people and communities. We continue to build a diverse and inclusive workplace where people feel a sense of belonging and the ability to contribute to equitable care delivery and improved community health outcomes at all levels of the organization.

• Comprehensive total rewards package—including competitive pay, generous paid time off, great health and wellness benefits, retirement savings, education assistance, and so much more.

• More career opportunities closer to home—as the largest healthcare provider in the Baltimore-Washington, D.C. region, there are countless opportunities to grow your career and fulfill your aspirations.

 

About MedStar Health

MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C. region, while advancing the practice of medicine through education, innovation, and research. Our team of 32,000 includes physicians, nurses, residents, fellows, and many other clinical and non-clinical associates working in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest home health provider in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar Health is dedicated not only to teaching the next generation of doctors, but also to the continuing education, professional development, and personal fulfillment of our whole team. Together, we use the best of our minds and the best of our hearts to serve our patients, those who care for them, and our communities. It’s how we treat people.

 

MedStar Health is an Equal Opportunity (EO) Employer and assures equal opportunity for all applicants and employees. We hire people to work in different locations, and we comply with the federal, state and local laws governing each of those locations. MedStar Health entities that are federal government contractors are Equal Opportunity and Affirmative Action employers. MedStar Health makes all decisions regarding employment, including for example, hiring, transfer, promotion, compensation, benefit eligibility, discipline, and discharge without regard to any protected status, including race, color, creed, religion, national origin, citizenship status, sex, age, disability, veteran status, marital status, sexual orientation, gender identity or expression, political affiliations, or any other characteristic protected by federal, state or local EO laws. If you receive an offer of employment, it is MedStar Health's policy to hire its employees on an at-will basis, which means you or MedStar Health may terminate this relationship at any time, for any reason.