The VP of Finance oversees the financial operations of the Cedars-Sinai Health System (CSHS) and is responsible for planning and recommending financial management policy to the Chief Financial Officer. The incumbent directs and coordinates financial policy and activities to assure short-term fiscal discipline and long-term financial strength for Cedars-Sinai and its affiliated entities. The VP of Finance is responsible for the overall management of the financial decision support and reimbursement functions including Financial Plan evaluation and coordination, Hospital Departmental Budgeting, Financial Decision Support/business plan evaluation, Cost Reimbursement, Value-Based Program financial evaluation, Medical Education financial evaluation/compliance, Productivity/efficiency planning and implementation, and financial components of patient financial services including cash packages/physician engagement/education, regulatory compliance/evaluation.
In this capacity, the VP of Finance reports to the Chief Financial Officer and collaborates heavily with senior leadership across the organization.
Primary Duties and Responsibilities:
- Plans and recommends to the CFO overall financial policies and programs to protect and optimally utilize the financial resources of the Cedars-Sinai Health System.
- Analyzes and interprets data and provides the CFO and Finance Committee of the BOD with information on the current and projected financial condition of CSHS and entities within the health system, and provides recommendations to maintain and improve financial viability.
- Serves steering committee(s) and/or leadership team(s) for large-scale projects and strategic initiatives impacting the organization's overall financial strength and growth.
- Oversees Finance Decision Support, including the development and application of various tools and systems to provide cost accounting and to coordinate with commercial payor contract negotiations to ensure long range plans align with reimbursement changes.
- Partnering with VP, Finance, establishes and implements financial metrics and productivity targets for the organization to ensure alignment with long-range financial plans and adherence to industry benchmarks.
- Supports strategic and innovative thinking in order to transform and adapt to the realities of the healthcare industry and advance the institution’s long-term financial health. Demonstrates the unique role strategic finance plays for growth related activities
- Works closely with the Executive Leadership Team to drive process improvements focused on innovation and continued business diversification models designed to improve financial outcomes, and drive growth.
- Partnering with VP, Research and VP, Facilities Planning, develops state of the art methodologies to optimize the utilization of research space, research capital and research financial support.
- Coordinates and ensures compliance with the regulations and requirements of extramural funding agencies with the VP of Research Administration.
- Recruits, develops and retains a high-performing team focused on problem solving, accountability, and improved business practices.
- Coordinates from a corporate financial perspective all contracts, joint ventures, mergers and acquisitions.
- Serves as a trusted institutional voice across all categories of staff through transparent communication of financial information with key performance metrics and how they relate to vision and strategy in a way that non-financial professionals can easily understand. In partnership with the COO and CME develops a regular operating rhythm of monthly financial and operating reviews with senior faculty and administrative leadership.
- Communicates, provides leadership, educates, and renders advice and counsel to members of the PEAC, other Vice Presidents of Operations, vice presidents, management, medical staff and employees as relates to financial management.
- Maintains an in-depth knowledge of changing economic, political, regulatory and social environments and their impact on the health system, in order to monitor and evaluate the adequacy of existing support services, ensure the development of financial services and systems to respond to the organization's needs and comply with requirements imposed by external agencies.
- Monitors industry "best practices", develops and implements operational and services enhancements as required by changing environments, technological advances and appropriate service and delivery strategies.
Bachelor's Degree in Accounting, Finance, Business Administration or related field of study required
Master's Degree in Business Administration or Certified Public Accountant (CPA) certification and experience working in public accounting is preferred
10 years progressive broad-based healthcare financial management experience in a public accounting firm and/or healthcare delivery organization required
3 years experience with financial aspects of postgraduate medical education and extramurally funded research preferred
Working Title: VP, Finance Operations
Department: SVP Finance
Business Entity: Corporate Services
Job Category: Executive Management
Job Specialty: Executive Management
Position Type: Full-time
Shift Length: 8 hour shift
Shift Type: Day
Base Pay: $0.00 - $0.00
Our compensation philosophy
We offer competitive total compensation that includes pay, benefits, and other recognition programs for our employees. The base pay range shown above takes into account the wide range of factors that are considered in making compensation decisions including knowledge/skills; relevant experience and training; education/certifications/licensure; and other business and organizational factors. This base pay range does not include our comprehensive benefits package and any incentive payments that may be applicable to this role
Diversity and Inclusion at Cedars-Sinai
We are caretakers and innovators committed to the pursuit of equitable healthcare. But health equity is not possible without representation. Our commitment to diversity goes beyond demographics or checking boxes. Our people must reflect the diverse identities, experiences and geographies of the communities and patients we serve – because that’s what our patients, colleagues and communities deserve. Quality Care and Research—For All, By All.
Cedars-Sinai is an Equal Employment Opportunity employer.
Cedars-Sinai does not unlawfully discriminate on the basis of the race, religion, color, national origin, citizenship, ancestry, physical or mental disability, legally protected medical condition (cancer-related or genetic characteristics or any genetic information), marital status, sex, gender, sexual orientation, gender identity, gender expression, pregnancy, age (40 or older), military and/or veteran status or any other basis protected by federal or state law. If you need a reasonable accommodation for any part of the employment process, please contact us by email at Applicant_Accommodation@cshs.org and let us know the nature of your request and your contact information. Requests for accommodation will be considered on a case-by-case basis. Please note that only inquiries concerning a request for reasonable accommodation will be responded to from this email address.
Cedars-Sinai will consider for employment qualified applicants with criminal histories, in accordance with the Los Angeles Fair Chance Initiative for Hiring.
At Cedars-Sinai, we are dedicated to the safety, health and wellbeing of our patients and employees. This includes protecting our patients from communicable diseases, such as influenza (flu) and COVID-19. For this reason, we require that all new employees receive a flu vaccine based on the seasonal availability of flu vaccine (typically during September through April each year) as a condition of employment, and annually thereafter as a condition of continued employment, subject to medical exemption or religious accommodation. For the same reason, you may also be required to receive other vaccines such as COVID-19 as a condition of employment. Cedars-Sinai reserves the right to make modifications to its required list of vaccines as required by law and/or policy.