Executive Director, Controller Boston Medical Center Health System
Company: Boston Medical Center
Location: Boston
Posted on: April 10, 2021
Job Description:
Executive Director, Controller Boston Medical Center Health
System company background/culture Boston Medical Center Health
System is an approximately $4 billion system whose mission is to
provide Exceptional Care Without Exception. The Health System
includes a tertiary academic medical center, a physician
organization, a health insurance plan (primarily Medicaid members),
an accountable care organization and affiliation with a network of
community health centers. Boston Medical Center Health System
(BMCHS) has been serving Boston's most vulnerable patient
population for over 150 years, providing world-class healthcare
accessible to all, regardless of status or ability to pay. BMC has
been named among the 100 Great Hospitals in America out of more
than 5,500 hospitals across the country multiple times in recent
years. Whether recognized for leading the nation in addressing
social determinants of health, becoming carbon neutral, or
innovating Addiction Medicine programs, BMC is often in the news.
Engaged in an era of major investment and growth, led by CEO and
President, Kate Walsh, the organization's energy and optimism is
palpable; it is truly an exciting time to join BMC. The system
consists of 5 major entities:
- Boston Medical Center - a tertiary academic medical center
- Boston University Medical Group (BUMG) - the physician
organization providing clinical care for BMC
- Boston Medical HealthNet Plan (BMCHP) - a non-profit health
plan
- Boston HealthNet - a network of community health centers
affiliated with BMC
- Boston Accountable Care Organization (BACO) - one of 5
accountable care organization partnerships across the state of
Massachusetts Boston Medical Center Boston Medical Center is a
private, not-for-profit, 514-bed, academic medical center, with
more than 7,500 employees, 800 physicians and advanced practice
providers, 750 residents. It is an extraordinary community of
health care providers devoted to the proposition that every person,
regardless of his or her social or economic circumstances, deserves
the best health care. The hospital is the primary teaching
affiliate for Boston University School of Medicine. As the largest
safety net hospital in New England, Boston Medical Center provides
a full spectrum of pediatric and adult care services, from primary
care and family medicine to advanced specialty care. Boston Medical
Center is the largest and busiest provider of trauma and emergency
services in New England and is in the top 10 busiest in the United
States. The Emergency Department had approximately 137,000 visits
last year. Boston Medical Center was formed in July of 1996 by the
merger of Boston City Hospital and Boston University Medical Center
Hospital. BMC has proven itself to be one of the few successful
public-private hospital mergers in the United States because of the
commitment of the university and the medical center to mutual
success. BMC also reaches into the community as a founding partner
of Boston HealthNet, a network of community health centers
throughout the city some of which are under the hospital's license.
By combining a commitment to uncompromising excellence with a
commitment to caring for those most in need, BMC has become a
national model of care, and caring, for all. What Makes BMC Great:
Living the Purpose, Values and Vision Unwavering in its commitment
to serve the community, BMC is dedicated to providing world-class
health care for all those in need, regardless of ability to pay.
-60% of patient visits come from underserved populations, such as
the low-income and elderly, who rely on government payers such as
Medicaid, the Health Safety Net, and Medicare for their coverage,
and -30% speak a language other than English as their primary
language. In 2016, BMC reimagined three core pieces of its cultural
foundation to bring to life the exceptional work it has been
undertaking for its more than 150 years. The organization's purpose
Exceptional Care Without Exception is the unifying objective that
drives the BMC culture, activities and strategy and sets the tone
for growth and a successful future. The BMC values of Built on
Respect, Powered by Empathy; Move Mountains; and Many Faces Make
Our Greatness guide behaviors, decision-making, goals and
performance at BMC; they are the beliefs and behaviors practiced
that reinforce the culture. Finally, the BMC vision to Make Boston
the healthiest urban population in the world by 2030 is an
important single, long-term goal which will require rigorous
innovative work with its community, with patients and colleagues.
With more than 26,000 admissions, 137,000 emergency department
visits and one million outpatient visits in the last year, BMC
provides a comprehensive range of inpatient, clinical, and
diagnostic services in more than 70 areas of medical specialties
and subspecialties. BMC is the largest safety net hospital and the
largest provider of trauma and emergency services in New England.
BMC received more than $116 million in budgeted sponsored research
funding, and $320 million across the BU Medical School campus in
and oversees 581 research and service projects separate from
research activities at Boston University School of Medicine. The
world-renowned researchers at BMC conduct both basic,
laboratory-based biomedical research, and clinical research
programs, including sickle cell, infectious disease, cardiology,
vascular biology, Parkinson's disease, geriatrics, endocrinology,
and hematology/oncology. Continuing to enhance its research
portfolio and impact is a priority in 2020 and beyond. BMCHP is a
managed care organization founded by BMC in 1997 that offers a
range of insurance offerings to approximately 420,000 members in
Massachusetts and New Hampshire. BMCHP focuses on serving low
income populations and offers Medicaid, Subsidized commercial, and
Senior Care Options products. As the Health System moves to full
vertical integration in the upcoming MassHealth reform, BMCHP's
capabilities will prove critical in supporting the system in
managing total cost of care for its patients. Boston University
Medical Group (BUMG) of BMC BUMG is an integrated multi-specialty
academic group practice composed of over 700 physicians, 100
non-physician clinicians, educators, and investigators dispersed
over 18 clinical departments. BUMG members have faculty
appointments at BUSM focusing on clinical care, research, and
teaching at BMC and BUSM. Working in collaboration with department
chairs and BMC and BUSM senior leadership, the BUMG President and
CEO is responsible for the overall strategic direction of the BUMG
and direct fiscal and operational oversight of the physician
organization. The BUMG has developed a financial structure for
governing transactions with BMC and BUSM and has an integrated
approach in which the departments join in supporting one another.
Founded by BMC, Boston HealthNet is a network affiliation of BMC,
Boston University School of Medicine, and 14 community health
centers. Focusing strongly on urban health, Boston HealthNet
provides outreach, prevention, primary care and specialty care, and
dental services at sites located throughout Boston's neighborhoods
and Quincy, Taunton and Winthrop. In 2014, Boston HealthNet
community health center patients accounted for -31% of BMC's
outpatient visits and -37% percent of all inpatient admissions.
Boston HealthNet gives access to many of the finest doctors and
specialized care in New England. With access to leading specialists
and cutting-edge technology, Boston HealthNet provides quality care
no matter where patients receive care within the network, patients
receive the same high-quality services from providers who care not
just for patients, but about patients. Boston Accountable Care
Organization (BACO) BACO is an independent organization that BMC
Health System co-founded to coordinate delivery of care under
upcoming MassHealth (Medicaid) reforms. BACO consists of BMC as
well as some local community health center partners of BMC. BMCHS
also has established four additional ACO's with other partners in
the west and south of Massachusetts. The Opportunity In close
collaboration with system finance leaders, the BMCHS President/CEO
and senior BMCHS executives, the Controller helps monitor, measure,
and ensure the strategic direction of BMCHS, ensuring the
organization is fiscally sound and responsible. The Controller acts
as a strategic partner to the Senior Vice President and System
Chief Financial Officer and other members of the executive
leadership team, providing insight and recommendations to both
short and long-term initiatives and growth plans. S/he continuously
assesses and evaluates the financial performance of the
organization with regards to long-term operational goals, budgets,
and forecasts, and creates and establishes annual financial
objectives that align with the health system's plan for growth and
expansion. The Controller will be responsible for accounting,
treasury, consolidation, financial reporting, external reporting,
financial systems, and board material preparation and must
understand the difference in accounting standards for the delivery
system and the health plan.-- The Controller will serve as a
strategic, collaborative business partner with the BMCHS leadership
team, system leadership teams, as well as with all colleagues
(physicians and staff). S/he will proactively create an environment
for successful organizational performance and accepts
responsibility for the financial viability of BMCHS. The Controller
will build strong positive working relationships both inside and
outside of BMCHS in order for the health system to meet its
strategic goals. Stylistically, this individual must be a
passionate and focused executive who has a proven track record in
accounting, treasury, financial systems, and financial reporting
and has the vision and enthusiasm for patient care and the
organization and communicates and represents that with all
constituents, both inside and outside of the system. POSITION
SUMMARY Reporting to the Chief Finance Officer, the Controller is
responsible for BMCHS's Controller and Treasury Management
functions.
- This includes overseeing the accounting department, financial
reporting, external reporting, Board management, cash management
and the financial information system.
- Maintaining continued integrity of BMCHS's financials and
developing a continuous improvement plan to help drive
efficiencies.
- Working collaboratively with key internal and external
stakeholders in the Finance Leadership team, including the Boston
University Medical Group Chief Financial Officer, Boston Medical
Center Health Plan Chief Financial Officer, and System Treasurer to
coordinate delivery of system goals. The Controller also plays a
coordinating role for the System for Internal Audit Functions and
External Audit (annual or other, such as a stub audit). The
Controller has five direct reports, including the Director of
Accounting, Associate Director of Financial Operations, and
Associate Director of Treasury, Manager of Cash Services and Sr.
Director of Financial Information Services. BMCHS currently
utilizes Infor for the general ledger, accounts payable, and
materials management and Workday for payroll. BMCHS works with KPMG
for overall BMCHS audit, and they outsource the internal audit to
Deloitte. Key Responsibilities Among the Controller's primary roles
and responsibilities are the following:
- Support the SVP/CFO in multiple capacities as BMCHS responds to
a myriad of challenges prompted by external change. This includes
proactively organizing personnel and systems to support the rapid
changes in healthcare finance being organized around population
health management, including ACOs and clinical integration.
- Serve as the Chief Accounting Officer for BMCHS and its
affiliates; and provide oversight for the following centralized
functions: General Accounting, Payroll, and Disbursements,
Budgeting, and Decision Support.
- Coordinate cash flow and related control issues for BMCHS with
the Senior Director of Treasury. Establish and maintain an adequate
internal control environment.
- Oversee all financing activities and ensure compliance with all
financing agreements and regulatory reporting. Ensure the
appropriate preparation of regulatory filings related to financial
issues.
- Review monthly accounting close process including review and
recording of journal entries, posting and interfaces of subsystems
and analytical review of the monthly operating results to ensure
accurate accounting records are maintained. Ensure all eliminations
are reported accurately. Plan, coordinate, and prepare for year-end
audits by public accounting firm and third-party auditors. Prepare
necessary material for quarterly, interim, and annual audits.
- Prepare and present monthly financial statements, including
monthly variance analysis, to appropriate constituents, including
the SVP/CFO, the Finance Committee and Board. Assess and make
recommended changes to financial reports which will enhance overall
data communication both internally and externally. Work with
Departments to ascertain data needs.
- Standardize accounting policies, procedures, and controls
across BMCHS to maintain and strengthen internal controls. Keep
abreast of all GAAP accounting practices and research technical
accounting issues for compliance. Review, evaluate, educate, and
recommend applicable changes to processes or financial
reporting.--
- Participate as a staff member on specific Committees,
including: ACO Board of Directors, BACO Finance and Budget
Committee, Business Planning Committee, E&Y Internal Audit
Monthly Review, Position Control and New Hire Review, Board of
Trustees (System, Hospital), Board of Trustees Committee Meetings
(Audit, Finance).
- Direct the preparation of all third-party cost reports and
monitor the necessary subsystems. Review cost reports in final form
and approve them for signing by the Chief Financial Officer.
- Manage banking relationships. Monitor bank fees; maintain
authorized signatures on all accounts; process wires; ensure
appropriate individuals have access to BOA on-line tool.
- Coordinate with external agencies and the VP of Government
relations on policy, interim payments, audit and appeal matters.
Stay current on reimbursement regulations that may have significant
impact on BMCHS. Disseminate information on new developments as
appropriate.
- Establish a reputation as a knowledgeable and respected leader
of the finance team, someone to whom they can turn for information
and professional development. Evaluate the current staff and
identify areas for their professional and leadership growth. This
person will be expected to act as a mentor to his/her direct
reports and take an active role in their development.
- Maintain staff by recruiting, selecting, orienting, and
training employees. Maintain staff job results by coaching,
counseling, and disciplining employees, planning, monitoring, and
appraising job results.
- Demonstrate to other members of the leadership team that he/she
is a genuine team player who can effectively share power and is not
plagued by the turf orientation often found in healthcare
management. Establish a reputation with all stakeholders as an open
and respectful communicator who is accessible and one who is highly
committed to service and performance excellence.
- Perform other work-related duties as assigned or requested.
Critical Success factors During his/her tenure with BMCHS, the
Controller will be expected to achieve short term and long-term
goals, including the following: SHORT TERM
- Quickly gain credibility and the trust of subordinates, peers,
senior leadership, staff, and clinicians.
- Establish improved processes in the service delivery of
financial services to the organization.
- Establish a service-oriented culture through collaborative
problem solving, as a means of enhancing Finance's role as a
strategic partner to other departments across the Hospital.
- Assess the structure of the department and develop a critical
path required to achieve strategic goals, including an operating
model with other departments and development of competencies within
the team. LONGER TERM
- Continue to establish a high degree of visibility and
communication with all constituents.
- Work with the Chief Financial Officer to learn the nuances of
the organization and its entities.
- Identify ongoing opportunities for operating efficiencies to
streamline the Finance department.
- Produce fully consolidated financial statements that can be
distributed on a monthly basis. PROFESSIONAL
EXPERIENCE/QUALIFICATIONS The Controller should have the following
experience, qualifications, and personal traits:--
- 7 to 10 years of accounting/finance experience with a minimum
of 4 to 6 years of supervisory experience, a preference for some
past exposure to healthcare.
- Experience with financial reporting requirements.
- Proven track record of success facilitating progressive
organizational change and development.
- Ability to design and implement new strategies and
processes.
- Superb analytical, strategic, and critical thinking
skills.
- Strong prioritization and problem-solving skills.
- Excellent communication and presentation skills, with the
ability to partner effectively with the executive team and
cross-functional leaders throughout the company and communicate
thoughtfully to diverse stakeholders, including the board and
external parties.
- Ability to remain flexible in a fast-paced environment.
- Demonstrated commitment, self-motivation, and drive.
- Strong mentoring, coaching experience to a team with diverse
level of expertise.
- Ability to operate as an effective tactical as well as
strategic thinker. EDUCATION
- Bachelor's degree in Accounting or Finance, or related field is
required.
- CPA is required and Master's degree is preferred.--
COMPENSATION Compensation arrangements are competitive and
commensurate with both experience and achievement. Kelly Ashmore
Phone: (312) 526-0561 Email: Kelly.Ashmore@kornferry.com Posted 17
Days Ago Full time 17525 About Us BMC Named by U.S. News & World
Report Among the Best Hospitals in the Region and a High Performing
Provider in the Areas of Nephrology and Geriatrics The Human Rights
Campaign named BMC a Leader in LGBT Healthcare Equality in its 2014
Healthcare Equality Index (HEI) report. BMC Named one of the 150
Great Places to Work in Healthcare by Becker's Hospital Review
Boston Magazine Named 62 BMC Physicians as "Tops" in their
Respective Fields, Including Nahid Bhadelia, MD, Infectious
Diseases, Featured on the Cover. BMC wins Healthy Hospital Award
from Stryker Sustainability Solutions for our dedication to
reducing waste and investing in environmentally sound health care
practices. Healthcare Information and Management Systems Society
Analytics Electronic Medical Records Adoption Model Honors BMC with
Stage 6 Recognition.
Keywords: Boston Medical Center, Boston , Executive Director, Controller Boston Medical Center Health System, Accounting, Auditing , Boston, Massachusetts
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