CFO Chief Financial Officer

Job Description

Job Description

Chief Financial Officer (CFO)

Healthcare & Real Estate Operations
Long Island, New York | Full-Time, In-Person/Hybrid

Position Overview

We are seeking an experienced, hands-on Chief Financial Officer (CFO) to oversee the financial operations of a growing multi-location healthcare organization as well as an affiliated portfolio of commercial real estate investments.

Our healthcare organization operates nine locations across the New York metropolitan area with more than 20 physicians and significant opportunities for continued organic growth and acquisitions.

The CFO will work directly with the CEO/Owner and Director of Operations and will be responsible for financial reporting, budgeting, forecasting, cash-flow management, revenue-cycle oversight, real-estate financial management, banking relationships, acquisitions, and improving overall profitability.

This is not a purely strategic or corporate CFO position. We are looking for someone who can operate at a senior executive level while remaining hands-on and willing to dig into the numbers.

Key Responsibilities

Healthcare Financial Management

• Oversee the financial performance of a multi-location medical practice.
• Produce and review monthly P&Ls, balance sheets, cash-flow statements and management reports.
• Develop annual budgets and rolling financial forecasts.
• Monitor financial performance across all nine practice locations.
• Analyze revenue, expenses, physician productivity and profitability by location.
• Review the company's daily financial and operational dashboard and identify opportunities to improve performance.
• Develop actionable recommendations to improve margins.
• Help management work toward a 20% operating-margin objective for the healthcare business.
• Identify unnecessary expenses, financial leakage and opportunities for improved purchasing and vendor contracts.
• Work closely with the CEO and Director of Operations on financial strategy.

Revenue Cycle Management

• Provide financial oversight of the medical billing and Revenue Cycle Management function.
• Monitor collections, accounts receivable, denials, reimbursement trends and payer performance.
• Identify opportunities to improve collections and shorten the revenue cycle.
• Develop meaningful RCM KPIs and hold the billing function accountable for performance.
• Analyze reimbursement and profitability by service line, physician and location.

Physician & Location Performance

• Analyze physician productivity, compensation and profitability.
• Evaluate revenue and expenses by office.
• Visit practice locations periodically to assess financial and operational performance.
• Identify underperforming locations or service lines and develop corrective financial strategies.
• Work with operations to improve patient volume, revenue per visit and overall practice profitability.

Commercial Real Estate

• Provide financial oversight for a portfolio of commercial real estate properties.
• Prepare a monthly real estate dashboard showing:
• • Rental income
  • Operating expenses
  • Net Operating Income (NOI)
  • Debt service
  • Cash flow after debt service
  • Occupancy and rent collections
• Review rent rolls, lease economics and tenant receivables.
• Oversee monthly tenant billing and rent statements.
• Reconcile rent collections and follow up on delinquent accounts.
• Review CAM and real-estate tax reconciliations where applicable.
• Analyze property-level profitability and cash flow.
• Assist with refinancing, acquisitions, dispositions and property valuations.
• Review proposed leases and renewals from a financial perspective.
• Work with property management and facilities personnel to resolve financially significant tenant and building issues.

Acquisitions & Growth

• Assist the CEO with evaluating healthcare-practice and commercial real-estate acquisitions.
• Perform financial due diligence.
• Develop acquisition models and projections.
• Analyze purchase prices, financing structures, expected returns and potential risks.
• Assist with integration and post-acquisition financial reporting.
• Work with lenders, attorneys, accountants, brokers and other outside professionals as needed.

Banking, Cash & Capital Management

• Manage banking relationships and cash-flow planning.
• Monitor debt obligations, interest rates and loan covenants.
• Evaluate financing and refinancing opportunities.
• Develop cash-management strategies across the operating businesses and real-estate entities.
• Assist ownership with capital-allocation decisions.

Accounting & Financial Controls

• Oversee bookkeeping and accounting internally and/or through support staff and virtual assistants.
• Ensure timely bank and credit-card reconciliations.
• Maintain accurate financial records across multiple entities.
• Coordinate with outside CPAs for tax preparation and year-end reporting.
• Establish appropriate financial controls, approval processes and segregation of duties.
• Maintain and continuously improve written financial procedures and controls.
• Ensure that no critical financial function, account or system is dependent upon only one employee.

Vendor & Contract Management

• Review major contracts, proposals and vendor relationships.
• Negotiate improved pricing and financial terms where appropriate.
• Review contractor and subcontractor estimates for real-estate projects.
• Identify opportunities to consolidate purchasing and reduce operating expenses.

Leadership & Reporting

The CFO will report directly to the CEO/Owner and work closely with the Director of Operations.

The CFO will participate in:

• Weekly financial/operational meetings with the CEO and Director of Operations.
• Monthly healthcare financial reviews.
• Monthly real-estate portfolio reviews.
• Annual budgeting and strategic planning.
• Acquisition and investment analysis as opportunities arise.

Ideal Candidate

We are looking for someone who combines the sophistication of a CFO with the willingness to remain hands-on.

The ideal candidate will have:

• 10+ years of progressive accounting and financial-management experience.
• Previous CFO, Controller, VP Finance, Director of Finance or similar senior-level experience.
• Significant healthcare experience strongly preferred.
• Experience with physician practices, medical groups, MSOs or other multi-site healthcare organizations preferred.
• Strong understanding of medical billing and Revenue Cycle Management.
• Experience with commercial real estate accounting and financial analysis strongly preferred.
• Strong knowledge of P&Ls, balance sheets, cash-flow statements and budgeting.
• Experience managing multiple legal entities and business units.
• Experience with acquisitions, due diligence and financial modeling.
• Strong Excel and financial-modeling skills.
• Experience with QuickBooks and/or comparable accounting systems.
• Strong understanding of internal financial controls.
• CPA and/or MBA preferred but not required for an exceptional candidate.

What We Are Looking For Personally

The right person should be:

• Highly ethical and trustworthy.
• Exceptionally organized.
• Detail-oriented while still seeing the larger strategic picture.
• Comfortable challenging assumptions and asking difficult financial questions.
• Proactive rather than reactive.
• Able to communicate financial information clearly to non-financial executives.
• Comfortable working directly with an entrepreneurial owner/CEO.
• Able to build systems and processes rather than simply inherit them.
• Willing to roll up their sleeves when necessary.
• Accountable for results and deadlines.
• Interested in helping build a significantly larger organization.

Why This Opportunity Is Different

This position offers the opportunity to become the senior financial leader of an entrepreneurial organization with substantial operations in both healthcare and commercial real estate.

The CFO will have direct access to ownership and will play a meaningful role in:

• Improving healthcare profitability
• Growing a multi-location physician organization
• Evaluating acquisitions
• Managing and expanding a commercial real-estate portfolio
• Improving financial systems and controls
• Managing capital and banking relationships
• Helping guide the organization's long-term growth

This is an opportunity for someone who wants to be more than a traditional accountant or controller. We are looking for a financial executive who can help us build, analyze, protect and grow the businesses.