The Opportunity

Position: Senior Vice President & Chief Financial Officer (CFO), University of Maryland Medical Center (UMMC)

• Compassion: We provide care and embrace our patients, families, team members and communities with compassion
• Discovery: We are relentless in our pursuit of discovery and innovation.
• Excellence: We strive for excellence across all aspects of our mission.
• Diversity: We foster inclusion and embrace diversity in human experiences, ideas and perspectives.
• Integrity: We earn the trust of patients, one another and our communities by behaving morally, ethically and with integrity.

• Compassionate, High-Quality Care: We are unrelenting in our dedication to compassionate, high-quality, patient- and family-centered care.
• Commitment to Community: We are inherently entwined in the social fabric of our communities and demonstrate an unwavering commitment to the health and well-being of Marylanders.
• Health Care Transformation: Leveraging our scale and geographical reach, we transform the way we deliver health care to bring more value to our patients and their communities.
• Discovery-Based Medicine: Blazing new trails in medicine is inherent in us. We invest in and partner with those who are committed to the highest ideals of innovation, discovery-based medicine and health education.

• Ensure that financial systems are established to meet the current and changing needs of the organization. 
• Serve as the senior financial executive for UMMC, ensuring financial systems, policies and infrastructure support current operations and future strategic growth. 
• Provide executive oversight of the Vice President of Finance, Vice President of Decision Support, and the Decision Support team. 
• Staff the Board of Directors' Financial Affairs Committee, including preparation of meeting agendas, financial reports, and supporting materials. 
• Provide financial oversight of the UMMC Foundation.

• Lead the development and execution of the annual operating and capital budgets. 
• Oversee routine and strategic capital planning. 
• Develop five-year financial forecasts and long-range capital plans. 
• Direct financial modeling and business case development for new clinical and operational initiatives. 
• Support Certificate of Need (CON) applications and financial analyses.

• Review and approve monthly and annual financial statements. 
• Prepare financial performance analyses and executive presentations for the President and senior leadership. 
• Ensure timely, accurate, and actionable financial reporting to support organizational decision-making.

• Lead financial strategies to improve clinical and operational performance. 
• Oversee cost management and resource utilization initiatives. 
• Direct denial management and revenue integrity strategies. 
• Oversee charge capture optimization and financial performance improvement efforts.

• Partner with School of Medicine leadership to optimize academic funds flow methodologies. 
• Develop sustainable financial strategies supporting the academic, research, education, and clinical missions. 
• Evaluate faculty productivity, clinical revenue performance, academic support requirements, and faculty investment strategies. 
• Oversee financial modeling for graduate medical education (GME), residency expansion, research initiatives, and academic program growth. 
• Provide financial and operational oversight of the Mission Support Agreement with the School of Medicine.

• Oversee the Physician Services Contract (PSC) and annual physician services agreement with the University of Maryland School of Medicine and Faculty Practice Plan. 
• Ensure effective financial management of physician enterprise agreements and academic partnerships.

• Provide financial oversight of key academic and research enterprises, including:
• Institute for Health Computing (IHC)
• Institute for Clinical & Translational Research (ICTR)
• General Clinical Research Center (GCRC) 
• iHarbor

• Build, lead, and develop a high-performing finance organization by recruiting, retaining, mentoring, and coaching exceptional talent.
• Foster a culture of accountability, continuous learning, and professional growth by providing regular feedback, ensuring individualized development plans for direct reports, preparing future leaders for expanded responsibilities, and recognizing individual and team achievements aligned with the organization's mission and strategic objectives.
• Build trusted partnerships and lead effectively within a large, complex matrixed organization by establishing credibility, fostering collaboration, and cultivating strong relationships with executive leadership, physicians, faculty, operational leaders, and key stakeholders across the health system to advance strategic and financial objectives.

• A minimum of ten years senior management experience in health care financial planning, budget management, financial reporting, general accounting, Service Line Financial Management, financial controls and information systems, or equivalent, is required. Experience in a large Academic Health System preferred. 
• Demonstrated knowledge of federal, state and local accounting standards and requirements of regulatory and accreditation agencies; advanced knowledge of budget development, control and evaluation, financial forecasting, cost finding and analysis is required. 
• Demonstrated knowledge of information systems and personal computer skills required. Knowledge of Financial Information Management and computer information technology systems is required.
• Highly proficient analytical, negotiation, presentation and leadership skills are required.  
• Highly proficient skills in directing, monitoring, evaluating and motivating the performance of professional and management staff.
• High level of proficiency and demonstrated effectiveness in problem solving and implementing new programs related to increased departmental and organizational operating efficiency.
• Highly effective oral and written communication skills are required to work with senior executive hospital administrative staff.

• Demonstrated knowledge of budgeting, financial management, provider billing.
• High level of proficiency and demonstrate effectiveness in problem-solving, and implementing new programs related to increased departmental and organizational operating efficiency while utilizing hospital resources in a fiscally responsible manner.
• Knowledge of current physician and hospital reimbursement and clinical issues confronting academic medical centers.  
• Proven organizational skills and political savvy.
• Ability to develop strong relationships with physicians and patient care service professionals and ability to understand how to build bridges between full-time clinical faculty and referring community physicians. 
• Experience supporting a faculty practice plan.
• Experience leading financial transformation initiatives.
• Experience in large-scale performance improvement and margin enhancement programs.
• Knowledge in an Academic setting includes familiarity with funds flow models, physician agreements, residency programs, and RVU physician benchmark models.
• Knowledge of Academic research programs including research billing, Institute/Center funding models, and mission support agreements.
• Highly effective verbal and written communication skills are necessary to work effectively within matrix organizational structures, which include, but are not limited to medical staff, management, residents, executive staff, other management personnel at all levels, regulators, the media, and the community.
• Demonstrated effectiveness in managing, directing departmental operations and management/supervisory personnel, evaluating, training and motivating performance. 
• Ability to accomplish results through others. Demonstrated ability to delegate effectively and to establish clear guidelines for accountability. 
• Ability to build consensus and provide strong leadership in a team environment, with the highest of professional and personal integrity. 
• Demonstrated entrepreneurial orientation to work. Ability to be creative and relish the opportunity to work within a very complex system with the primary focus being the ultimate outcomes of business growth and operating Profit and Loss performance of a major service line.  
• Ability to prioritize work, given that a number of tasks are required to be performed on a daily basis.

• A Master's degree from an accredited college or university in Business, Accounting, Finance, Health Care Administration, or a related field, is required.