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.

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