A high-growth healthcare services platform based outside of Chicago is seeking a Controller and VP of Finance to join the corporate executive team. The platform is a physician practice providing medical services across a variety of healthcare facilities. The company fills a critical need within today’s healthcare landscape focused on value-based reimbursement and is within a highly fragmented subsector supported by favorable demographic trends. The company’s seasoned executive healthcare team and Board of Directors will pursue an aggressive growth strategy through a combination of organic growth initiatives and acquisitions to build a leading national platform.
Reporting directly to the Chief Executive Officer who is a highly seasoned healthcare executive and working closely with the Founder and Chief Medical Director who is a highly successful physician entrepreneur, the Controller and VP of Finance will be responsible for overseeing all finance, accounting and reporting activities. The Controller will be an integral part in helping build the back office infrastructure and comprehensive suite of administrative, executive and compliance services to support the organization and its growth efforts. As part of these efforts, the Controller and VP of Finance will work directly with the Board of Directors, equity stakeholders, lenders and other members of the senior management team.
The company is backed by a group of experienced healthcare investors that makes investments in high-growth physician groups, senior living and health & wellness platforms. The investment group pursues partnership opportunities with entrepreneurial physicians, allowing providers to focus on the treatment of more patients, quality of care and the patient experience, all without the burden on day-to-day business administration.
DUTIES & RESPONSIBILITIES
The Controller and VP of Finance will own and play a significant role in all core finance and accounting functions, and help to define processes, procedures and analysis that assist in informed decision-making for the senior management team and Board of Directors. As head of the finance and accounting department (no chief financial officer), the Controller will manage and supervise all aspects of accounting and be the main point of contact with lender(s), outsourced providers and have direct access to a growing C-Level suite and Board of Directors. The Controller should be comfortable working in a fast-paced, rapidly growing environment and committed to building the back office infrastructure as we scale to a national healthcare services business. This individual should show strong initiative to build and manage a core finance function and team and be attracted to an intellectually demanding, high-impact role, with lots of room to grow and learn. This is a role with high internal and external visibility to the executive team and Board and all areas of the business.
The following are representative of key responsibilities for a candidate:
• Establish and maintain internal controls, policies and procedures for budget accounting, cash and credit management, administration, day-to-day finance functions and other activities
• Provide a financial reporting package and management dashboard that illustrates the company's financial performance, fiscal discipline, analytical support, governance, compliance and cost control efforts to satisfy the needs of management, owners, lenders and regulatory agencies
• Own and manage the entire month-end closing process to ensure a timely and accurate close of the general ledger; develop internal best practices, reconcile and analyze all balance sheet accounts and key P&L accounts; record all transactions in accordance with GAAP
• Lead annual budgeting cycle and ongoing reforecast that supports the company’s strategic goals; build and maintain a complex financial model
• Comfort working with limited current system procedures and processes while looking to implement technology and automation for future system upgrades
• Assist in the improvement of operations by defining, measuring, and managing financial and operational performance metrics and strategic operational goals
• Participate in all system automation and implementation projects including new EHR software, accounting system, KPIs, data/information capture in the field, etc.
• Create internal metrics/reports/process improvements that foster accountability and measure progress toward key strategic goals; provide insight and analysis to support the CEO and other senior managers in their roles
• Coordination, management and primary interface with key outside vendors & partners, including audit and tax firm, regulatory & compliance, insurance, lender, etc.
• Manage major contracts related to insurance, real estate, permits, etc.
• Ensure compliance with state and federal regulatory requirements related to the corporate practice of medicine
• Study existing and new legislation, enforcing adherence to requirements and advising management on strategy
• Ability to challenge and replace established processes and procedures where necessary
• Assist with financial due diligence, deal structuring/negotiations and financial integration of new acquisitions (back-office consolidation, system adoption and standardized reporting)
• Assist in reviewing and negotiating key legal contracts
A successful candidate must demonstrate unquestionable integrity as a key member and contributor to this entrepreneurial team. As a self-starter, this individual must be able to effectively frame business issues and inspire confidence with a variety of internal and external constituents. The individual will possess a “small business mindset” and an inclination for rolling up their sleeves. The executive will understand the role of a growth company Controller and head of the finance department and the importance in partnering with the CEO and leadership team to successfully operate the business and generate meaningful value. The Controller will work collaboratively with the leadership team in achieving business results and building a great place to work.
Fundamental attributes should include strong communication and listening skills, financial acumen, a thorough approach to the issues, managing to metrics, decision-making ability and a high motivation towards setting and delivering “high service standards.” The candidate should be bright, well-educated and demonstrate reasoned and deliberate thought processes including finance and general business acumen, analytical skills, operational understanding, discipline in accounting, budgeting and planning and a strongly developed intuitive sense.
The following are representative of key qualifications for a candidate:
• Personality and “fit” are very important in our lean executive team with hands-on investors and Board members
• Healthcare experience, specifically within physician groups, is preferred but not required
• Bachelor’s degree in financial accounting (or another related field)
• Strong attention to detail with analytical and operational reporting experience
• Excellent interpersonal and communication skills: written, oral, presentation, in-person and on the phone
• Able to identify issues, make recommendations and implement changes
• Advanced Microsoft Office experience (strong Excel expertise)
• Strong problem solving skills, ability to organize and complete large-scale projects and have a passion for process improvements
• Strong organizational skills; must be able to manage and prioritize multiple business objectives and projects with the proper sense of urgency
• Self-motivated, curious, diligent and ability to work independently