Chief Financial Officer, Health New England

The Chief Financial Officer / Vice President of Finance for Health New England (HNE)

serves as the senior financial executive for a provider-sponsored health plan that is fully integrated within Baystate Health, one of western New England’s largest and most comprehensive health systems. This executive role holds primary accountability for the financial health, strategic direction, and operational integrity of the health plan, while functioning as a critical bridge between the plan and the broader health system.

Reporting directly to the Baystate Health CFO with a dotted-line relationship to the HNE President, the CFO/VP of Finance occupies a uniquely complex and high-impact position: leading all health plan finance functions while aligning plan financial strategy with system-wide goals, navigating the regulatory and actuarial demands of a licensed insurance carrier, and driving the financial performance of an integrated delivery and financing model.

Fiscal services functions are aligned through the Baystate Health CFO, enabling a unified approach to financial controls, treasury, accounting, and reporting across the integrated enterprise. The successful candidate will bring deep expertise in health plan finance — including risk management, premium and medical cost management, and regulatory compliance — alongside the executive presence and collaborative instincts to lead across organizational boundaries.

Organizational Context

Health New England is a not-for-profit, provider-owned health plan serving members across western Massachusetts and Connecticut. As a wholly-owned subsidiary of Baystate Health, HNE operates within a highly integrated model that aligns financial incentives across the insurer and provider, enabling population health management and value-based care initiatives.

The CFO/VP of Finance is accountable for translating this strategic integration into financial performance — ensuring that the health plan’s capital, risk, and cost structures support the health system’s mission, margin, and long-term sustainability.

Key Responsibilities

Strategic Financial Leadership

• Serve as the primary financial executive for Health New England, partnering with the HNE President, Baystate Health CFO, and system leadership to develop and execute financial strategy aligned with the integrated delivery system’s goals.

• Provide financial vision and counsel to the HNE Board of Directors, Finance Committee, and senior leadership teams of both the health plan and Baystate Health.

• Lead development and execution of multi-year financial plans, capital allocation strategies, and investment frameworks that reflect the interdependencies of the plan/provider model.

• Evaluate and advise on strategic partnerships, value-based contracting structures, network design decisions, and new market opportunities through a rigorous financial lens.

• Represent the health plan’s financial interests in joint ventures, ACO structures, and integrated care initiatives that span the health plan and Baystate Health provider network.

Health Plan Finance & Actuarial Oversight

• Oversee all health plan financial functions including premium revenue management, medical cost management, trend analysis, claims reserving, and loss ratio performance.

• Partner with actuarial leadership to ensure appropriate rate-setting, risk adjustment, and reserve adequacy across all lines of business (commercial, Medicare Advantage, Medicaid).

• Drive medical cost management strategies in partnership with clinical, network, and population health leadership — including analysis of utilization trends, unit costs, and care management effectiveness.

• Lead financial evaluation of provider contracts, capitation arrangements, and risk-sharing programs; ensure financial structures align plan and system incentives.

• Oversee and continuously strengthen the plan’s financial risk management framework, including reinsurance, stop-loss, and capital adequacy strategy.

Regulatory, Compliance & Governance

• Ensure full financial compliance with Massachusetts Division of Insurance (DOI) and applicable federal (CMS) regulatory requirements, including statutory filings, minimum capital requirements, and market conduct standards.

• Direct the preparation and submission of all regulatory financial reports, including NAIC statutory filings, CMS financial reporting, and state health connector reporting.

• Serve as the primary financial liaison to the Massachusetts Division of Insurance and relevant federal agencies; manage regulatory examinations and audits.

• Maintain and strengthen internal controls, audit readiness, and financial governance frameworks consistent with insurance regulatory standards and health system policy.

Financial Operations & Fiscal Services Integration

• Provide executive oversight of health plan financial operations including accounting, financial reporting, budgeting, forecasting, treasury, and tax compliance.

• Coordinate closely with the Baystate Health fiscal services function — which reports through the system CFO — to ensure seamless integration of financial controls, consolidation, and reporting across the enterprise.

• Lead the annual financial planning and budgeting process for HNE, ensuring alignment with Baystate Health’s enterprise budget cycle and capital planning process.

• Oversee the health plan’s audit processes, including coordination with external auditors and regulators; ensure timely and accurate production of audited financial statements.

• Drive continuous improvement in financial systems, data infrastructure, and reporting capabilities to support operational decision-making at the plan and system level.

Organizational Leadership & Culture

• Build, lead, and develop a high-performing finance team for the health plan, fostering a culture of accountability, intellectual curiosity, and continuous improvement.

• Champion cross-functional collaboration between health plan finance and Baystate Health finance, clinical, actuarial, network, and operational leaders.

• Model and reinforce the mission-driven culture of both HNE and Baystate Health; approach financial leadership as a strategic enabler of better health outcomes and community benefit.

• Mentor finance professionals across the organization; invest in talent development and succession planning within the health plan finance function.

Qualifications

Required

• Bachelor’s degree in Finance, Accounting, Economics, or related field; Master’s degree (MBA, MHA, or equivalent) strongly preferred.

• Minimum of 12 years of progressive financial leadership experience, with at least 7 years in a senior finance role within a health insurance or managed care organization.

• Deep expertise in health plan finance, including medical cost management, premium revenue, actuarial collaboration, risk adjustment, and NAIC statutory accounting.

• Demonstrated experience leading financial operations for a regulated insurance carrier, including regulatory reporting and DOI/CMS compliance.

• Proven ability to lead finance functions in a matrixed, integrated, or multi-entity organizational structure.

• Executive-level communication and presentation skills; demonstrated ability to advise boards, regulators, and senior leadership.

• Track record of building and leading high-performing finance teams.

Preferred

• CPA designation or actuarial credentialing (FSA, MAAA), strongly preferred.

• Experience in a provider-sponsored or integrated delivery and financing system (IDFS) environment.

• Familiarity with value-based care contracting, risk-sharing arrangements, ACO or population health financial models.

• Knowledge of Massachusetts insurance market regulatory environment.

• Experience with Medicare Advantage and/or Medicaid managed care financial operations.

Core Competencies

The following competencies are essential to success in this role:

Strategic Integration

Connects health plan financial strategy with Baystate Health system objectives; operates effectively across the plan/provider boundary.

Financial & Actuarial Acumen

Fluent in both insurance financial mechanics (statutory accounting, reserving, rate adequacy) and health system finance (cost accounting, capital planning).

Regulatory Expertise

Navigates complex state and federal insurance regulatory environments confidently; builds trusted relationships with regulators.

Executive Leadership

Commands credibility with boards, system leadership, and external stakeholders; influences without direct authority across a matrixed structure.

Mission Alignment

Translates financial discipline into community benefit outcomes; approaches financial leadership as a means to advance health equity and access.

Analytical Rigor

Drives decisions through data; champions financial modeling, scenario planning, and performance analytics as core decision-making tools.

People Leadership

Develops financial talent; creates psychological safety, high standards, and a culture of continuous learning.

Reporting Relationships & Organizational Structure

This role is designed to reflect the integrated nature of Health New England and Baystate Health. The CFO/VP of Finance operates across two organizational structures:

Solid-line reports to

Chief Financial Officer, Baystate Health

Dotted-line reports to

President, Health New England

Fiscal services alignment

Fiscal services functions report through the Baystate Health CFO, ensuring enterprise-wide integration of financial controls and reporting.

Board accountability

Serves as staff to the HNE Board Finance Committee and presents to the full HNE Board of Directors on financial matters.

Compensation

Note: The compensation range(s) in the table below represent the base salaries for all positions at a given grade across the health system. Typically, a new hire can expect a starting salary somewhere in the lower part of the range. Actual salaries may vary by position and will be determined based on the candidate’s relevant experience. No employee will be paid below the minimum of the range. Pay ranges are listed as hourly for non-exempt employees and based on assumed full time commitment for exempt employees.

Minimum - Maximum: $355,200 - $488,000

Equal Employment Opportunity Employer

Baystate Health is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, ancestry, age, genetic information, disability, or protected veteran status.