VP of Finance

POSITION TITLE:VP of Finance REPORTING TO: CFO LOCATION: Chicago, IL

COMPANY OVERVIEW:

TheAldenNetworkisoneofthelargestChicagolandprovidersof skilled nursing, assistedliving, healthcare, andseniorlivingservices. Alden started in 1971 and offers over 35 locations throughout the Chicago area, Rockford, and southern Wisconsin. Services span the continuum of care - from short-term orthopedic recovery and post-acute services, to assisted living and skilled nursing, to independent retirementcommunities. Wealso provide rehabilitation for both seniors andyoung adultswithmoreintensivehealthcareandtherapyrequirements,alongwithspecializedcareforthememoryimpaired, comprehensive therapy services, pharmacy, home medical equipment, and more.

POSITION OVERVIEW:

This is a newly created position and will report to the CFO. This role was created to ensure comprehensive financial management,includingoversightoftherevenuecycle department,accounts payables department,payroll reportingand analysis, cash-flow management reporting, tax compliance, 401(k) accounting, and support with financial audits. The Vice President of Finance will provide strategic financial guidance and leadership while supporting budgeting, payroll analysis, and ensuring regulatory compliance across multiple entities within the organization.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Financial Strategy and Leadership:

• Develop,implement,andmonitorfinancialstrategiestosupportthelong-termgoalsoftheorganizationandits ancillary businesses.
• Providefinancialinsights,forecasts,andreportstoguideoperationalandstrategicdecision-making.
• Collaboratewiththeexecutiveleadershipteamtoevaluatefinancialperformance,identifyrisks,and recommend areas for improvement.

Revenue Cycle Management:

• Overseetherevenuecycledepartmenttoensureeffectiveandefficientbilling,collections,andreimbursement processes.
• Collaboratewithclinicalandadministrativeteamstoimprovepayerreimbursementandmanagedenials, ensuring revenue optimization.
• Ensurecompliancewithhealthcareregulationsandbestpracticeswithintherevenue cycle.

Accounts Payable and Cash Flow Management Reporting:

• Managecashflowforecastingtoensuresufficientliquidityforoperationalneedsandstrategic initiatives.
• Optimizepaymentprocesses,maintaincostcontrols,andstrengthenrelationshipswith vendors.

Budgeting and Financial Planning:

• LeadtheannualbudgetingprocessfortheLong-TermCareNetworkanditsancillarybusinesses,ensuring alignment with organizational goals.
• Providedetailedanalysisofbudgetvariances andworkwithdepartmentheadstoensurebudget adherence.
• Conductregularbudgetreviewsandfinancialplanningsessions,offeringactionableinsightsintoimproved financial performance.

Payroll Reporting and Analysis:

• Analyzepayrolldatatoprovideinsightsonlaborcosts,overtime,andotherkeymetricsimpactingfinancial performance.
• Ensurecompliancewithwageandhourlaws,taxreporting,andotherpayroll-related regulations.

Income Tax Planning and Compliance:

• Leadthepreparationandfilingofallincometaxreturns,ensuringcompliancewithfederal,state,andlocal regulations.
• Developtaxstrategiestominimizeliabilitiesandmaximizetaxefficiencyfortheorganizationanditsancillary entities.
• Staycurrentontaxlawchangesandadvisetheexecutiveteamontheirpotential impact.
• Coordinatetaxauditsandrespondtoanyinquiriesfromtax authorities.

401(k) Accounting, Audit and Compliance:

• Overseeallaspectsof401(k)planaccountingandadministration,ensuringaccuratetrackingofcontributions, distributions, and investment performance.
• Ensuretheorganization'sretirementplanscomplywithapplicableERISAregulationsandIRS guidelines.
• Leadthepreparationforannual401(k)planaudits,coordinatingwithexternalauditorsandaddressinganyaudit findings.
• WorkwithHRAndthird-partyadministratorstomanageemployeecommunicationandcompliancewiththe 401(k) plan.

Strategic Partnerships and External Relations:

• Buildandmaintainrelationshipswithexternalauditors,taxadvisors,banks,andfinancial institutions.
• Workcloselywithexternalconsultantsandlegalcounseloncomplexfinancial matters.

QUALIFICATIONS:

• Bachelor'sdegreeinFinance,Accounting,BusinessAdministration,orrelatedfield(MBA/CPApreferred)
• Minimumof8yearsofexperienceinfinancialleadershiproles, withsignificantexperienceinhealthcareor long-term care industries
• Expertiseinfinancialmanagement,budgeting,taxcompliance,revenuecyclemanagement,and401(k)plan administration
• Strongunderstandingofpayrollprocesses,taxregulations,andaudit preparation
• Provenexperienceinsupportingmultiplebusinessunitsorancillarycompaniesinfinancialplanningand analysis