Chief Financial Officer (CFO)

Job Description

Job Description

Chief Financial Officer (CFO)

Department: Executive Management
Reports To: Board
FLSA Classification: Exempt
Employment Status: Full-Time
Supervisory Responsibility: Controller and AVP, Revenue Cycle

Position Summary

The Chief Financial Officer (CFO) serves as a key member of the executive leadership team, providing strategic financial leadership and oversight of the financial operations, revenue cycle, and fiscal performance of Orthopedic Associates of SW Ohio (OA).

Reporting directly to the OA Board, the CFO partners with physician leadership and the Chief Operating Officer (COO) to drive financial strategy, strengthen organizational performance, evaluate growth opportunities, and ensure long-term financial sustainability. This position provides executive oversight of the Controller and AVP, Revenue Cycle, ensuring financial accountability, operational efficiency, and alignment with the organization's strategic objectives.

Essential Duties and Responsibilities

1. Executive Leadership and Strategic Financial Planning

• Serve as a strategic financial advisor to the Board, COO, and physician leadership, providing financial insight and recommendations to support organizational decisions.
• Lead short- and long-term financial planning, budgeting, forecasting, and financial performance initiatives.
• Evaluate financial implications of physician recruitment, practice expansion, hospital partnerships, service line development, and new business ventures.
• Participate in Board meetings, presenting financial performance, organizational risks, and strategic recommendations.
• Identify opportunities to improve profitability, optimize resources, and strengthen the organization's financial position.
• Monitor healthcare industry trends, reimbursement changes, and economic factors affecting the practice.

2. Financial Operations and Fiscal Oversight

• Provide executive oversight of accounting, financial reporting, budgeting, cash management, payroll, tax compliance, and accounts payable and receivable.
• Ensure timely, accurate financial reporting and meaningful analysis of organizational and departmental performance.
• Oversee financial operations and reporting for affiliated entities, including appropriate expense allocations and financial distributions.
• Establish and maintain financial controls, regulatory compliance, and processes that safeguard organizational assets.
• Direct financial planning and oversight of banking relationships, financing arrangements, insurance programs, and significant financial commitments.

3. Revenue Cycle Leadership and Financial Performance

• Provide executive oversight of Revenue Cycle operations through the AVP, Revenue Cycle, ensuring alignment with financial and organizational objectives.
• Establish and monitor key performance indicators, including cash collections, accounts receivable, denial rates, net collection performance, and reimbursement trends.
• Partner with Revenue Cycle leadership to identify financial risks, improve revenue realization, and address payer-related challenges.
• Oversee the financial evaluation of payer contracts, reimbursement strategies, and significant Revenue Cycle initiatives.
• Ensure coordination between Finance and Revenue Cycle to support accurate reconciliation, reporting, and financial performance.

4. Business Partnerships and Financial Risk Management

• Serve as the organization's financial representative in relationships with banking institutions, accountants, attorneys, insurance advisors, and other external business partners.
• Provide financial oversight of hospital agreements, physician arrangements, real estate interests, and related business ventures.
• Evaluate major expenditures, capital investments, financing opportunities, and contractual obligations.
• Oversee financial compliance, audit coordination, insurance renewals, and retirement plan financial reporting.
• Identify and mitigate financial, operational, and regulatory risks.

5. Organizational Leadership and Accountability

• Lead and mentor the Controller and AVP, Revenue Cycle, establishing clear performance expectations and measurable objectives.
• Promote collaboration between Finance, Revenue Cycle, Operations, and physician leadership.
• Drive continuous improvement in financial processes, reporting capabilities, and organizational efficiency.
• Foster a professional, accountable, and solutions-oriented leadership culture.
• Exercise sound judgment, discretion, and confidentiality in all financial and organizational matters.

Required Qualifications

• Bachelor's degree in Accounting required; CPA designation preferred.
• Minimum of five years of experience in medical practice accounting or public accounting.
• Demonstrated experience in financial management, reporting, compliance, and complex financial operations.
• Experience managing multiple business entities and working with executive leadership and external financial partners.
• Strong analytical, communication, leadership, and financial decision-making skills.

Preferred Qualifications

• Experience in a physician-owned medical practice or multi-site healthcare organization.
• Experience with strategic financial planning, budgeting, revenue cycle oversight, and physician compensation arrangements.
• Experience with banking relationships, healthcare reimbursement, and organizational growth initiatives.

Core Competencies

Strategic Financial Leadership | Executive Decision-Making | Financial Acumen | Business and Operational Insight | Revenue Cycle Performance | Risk Management | Organizational Leadership | Communication and Collaboration | Integrity and Accountability

Professional Expectations

The CFO is expected to demonstrate executive-level leadership, financial stewardship, sound judgment, and a commitment to the organization's mission and values. This position requires the ability to manage competing priorities, maintain strict confidentiality, build effective relationships with physician and executive leadership, and support the organization's continued financial stability and strategic growth.

Other Duties

This description provides an overview of the position and is not intended to be exhaustive. Responsibilities may evolve based on organizational priorities and business needs.