VP of Finance-Diversified Business Operations (Lab and Pharmacy)

Location: Burlington, MA
Job ID: 169765-1A
Date Posted: Aug 11, 2021
Category: Executive

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Job Description

Welcome To

Welcome to Beth Israel Lahey Health. We are a new health care system that brings together academic medical centers and teaching hospitals, community and specialty hospitals, more than 4,000 physicians and 35,000 employees in a shared mission to expand access to great care and advance the science and practice of medicine through groundbreaking research and education.  

About the Job

Beth Israel Lahey Health (BILH) is made up of 14 hospitals, 25 major ambulatory facilities, Population Health Business Unit and Primary Care Business Unit that covers eastern Massachusetts from Gloucester to Plymouth, generating $6.5 billion in net operating revenues. BILH has over 4,300 physicians and 9,000 nurses practicing in their hospitals and clinics, and over 36,000 dedicated employees and 1.3 million patients.   

As the second largest private employer in Massachusetts, BILH continues to make significant advances within a complex, rapidly changing, competitive healthcare market.  It is also embarking on a transformation that streamlines the Finance function by promoting the sharing of resources, information and best practices across the system.  The transformation will reshape the way the organization is served by Finance and how Finance is accessed through the launch of Workday FIN.  Key components to the transformation include a thoughtful approach to employee self-service, enhanced responsiveness and strategic partnership with operational leaders.  The Vice President Finance of Diversified Business Operations will be joining a talented team, poised to take FIN services and consultation to the next level. 

The Vice President Finance of Diversified Business Operations will be responsible for the oversight and support of the financial operations of the BILH Diversified Business Operations. Reporting directly to the EVP & Chief Financial Officer, this position is responsible for ensuring accurate financial reporting for the diversified business operations, including, but not limited to, the following: laboratory and pharmacy. Assure quality accounting and finance work, meeting or exceeding all deadlines. Responsible for capital and operating budget preparation, and measurement against performance metrics. Participate as a member of the diversified business operations leadership team in developing strategic plans to grow a diversified business operations footprint in our market in a thoughtful and fiscally responsible manner. Demonstrate full support of the mission through demonstrated measurable results and conduct consistent with the mission statement and strategic plan. Provide financial management, information and guidance to the senior leadership team. Work closely with various departments including Revenue Cycle, Accounting, Accounts Payable, Payroll, Budgeting and Analysis and Decision Support.

To be successful, the individual in this role must:

  • Lead with a system mindset that embraces transformation and change.

  • Build strong, cross-functional relationships that involve and engage leaders and teams at all levels at the local hospital and throughout the system operations.

  • Supports and participates in a collaborative team oriented environment – cooperates and works together with all co-workers, plans and competes job duties, uses appropriate communications in sensitive and emotional situations and follows up as appropriate regarding reported complaints, problems and concerns

  • Foster a strong commitment to diversity, equity, inclusion, belonging and anti-racism.

  • Supports the Mission, Value and Vision of BILH. Demonstrates personal commitment through active involvement in the performance improvement process.

  • Exhibits excellent customer service skills and behaviors toward internal and external customers and wo-workers. Promotes positive public relations with patients/residents, family members, guests, and others.

  • Supports customer service, service excellence, and performance standards. Supports and participates with all required compliance standards identified by BILH.

  • Adheres to HIPAA requirements and maintains confidentiality of all data, including patient/resident, employee and operations information.

Primary Duties 

  • Provide proactive financial analysis capabilities, information processes and tools to diversified business operations team to detect both current and future performance issues.

  • With the diversified business operations leadership team, develop and prepare business plans to analyze strategic growth opportunities.

  • Plan, direct and coordinate the preparation of timely and accurate financial reports for diversified business operations, including individual reports for each entity and consolidated reporting for the entire division.

  • Review financial operations of diversified business operations to ascertain whether operational efficiency and effectiveness are being attained, provide leadership and stewardship to ensure processes are effective, and work with divisional management to develop action plans based on analysis to optimize financial operations.

  • Serve as the liaison between the diversified business operations and the corporate finance team in the preparation of the division’s annual capital and operating budget cycle.

  • Serve as the key finance resource to the diversified business operations for question of finance related matters. Serve as liaison with the centralized and corporate business functions including Accounting, Accounts Payable, and Payroll as well as other corporate functions as needed.

  • Understand and manage business risks and opportunities through the following:

    • Direct the ongoing implementation and monitoring of BILH’s financial policies with the diversified business operations.

    • Frequent successful interaction and involvement with the leadership team and divisional management teams in strategic planning and decision making in matters involving financial policy results.

  • Direct and oversee diversified business operations accounting and finance staff. Responsible for performance appraisal, goal setting and work assignment for these members, in conjunction with the post-acute administrators. Ensure quality work by the staff.

  • Direct activities of assigned staff; set goals and specify work assignments; ensure the quality of service provided. Mentor and train staff in appropriate accounting and financial analysis methods and accurate use of technical accounting principles.

  • Recommend hiring, promotion, transfer, discipline or discharge of personnel.

  • Mentor management staff in areas of leadership development and management skills and responsibilities.

  • Continually manage change through taking ownership for improving processes, implementing financial processes to demonstrate stewardship and loyalty to mission.

  • Supervise and assist in preparation of special projects and reports as requested.

  • Demonstrate outstanding customer service behaviors and mentor/evaluate staff in customer service principles.

 

Minimum Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties.

  1. Education / Training: Bachelor’s Degree in Finance or Accounting, Master’s degree desirable.

  2. Work Experience: Ten years or more in progressively more responsible experience in Accounting and/ or Finance Management.

  3. Skills: Proficient in spreadsheet and word processing software. Excellent oral and written communications skills. Strong customer service orientation required.

Preferred Qualifications

  • Master’s degree desirable 

  • High energy with a strong work ethic.  Not easily discouraged by the challenging agenda.

  • Ability to thrive in a highly-matrixed environment.

  • Experience working in multi-site operations and with dispersed workforce 

  • Workday or other ERP/ HCM experience and implementation experience 

  • Understanding and application in tools useful for statistics and/or data processing, business intelligence, data modeling, mining and profiling 

  • Ability to work well under pressure and flexible in adapting and responding to changing situations

  • Strong organizational skills with the ability to manage multiple, conflicting priorities between client work and program development in a fast-paced environment

  • Healthcare experience is a plus

 

Physical Demands

  • Physical demands with activity or condition for a considerable amount of time include sitting and typing/keyboarding using a computer (e.g., keyboard, mouse, and monitor) or adding machine

  • Physical demands with activity or condition may include occasional to rare amount of time include walking, bending, reaching, standing, and stooping

  • May require occasional lifting/lowering, pushing, carrying, or pulling up to 20lbs

Key Competencies

Driving Results- Establishing systems and processes to attract, develop, engage, and retain talented employees; creating a work environment where people can realize their full potential, thus allowing the organization to meet current and future clinical and business challenges. 

Emotional Intelligence- Establishing and sustaining trusting relationships by accurately perceiving and interpreting one’s own and others’ emotions and behavior in the context of the political environment; leveraging insights to effectively manage one’s own responses and reactions.

Leading Change- Identifying and driving organizational and cultural changes needed to adapt strategically to changing market demands, technology, and internal initiatives; catalyzing new approaches to improve results by transforming organizational culture, systems, or products/services.

Cultivating clinical and business partnerships- initiating and maintaining strategic relationships with stakeholders inside and outside the health system (e.g., physicians, cross-functional partners, payers, suppliers, community representatives) to advance clinical and business goals.

Leveraging Community and Staff Diversity- Initiating actions to reduce barriers and leverage the advantages of diverse cultures, interpersonal styles, ideas, and professional and educational backgrounds. 

Hiring “A” Players, Coaching and Developing Others- Uses thorough screening and assessment techniques to develop a comprehensive picture of a candidate’s professional background in order to hire “A” players.  Providing feedback, instruction, and development guidance to help others excel in their current or future job responsibilities; planning and supporting the development of individual skills and abilities. 

About Us

Beth Israel Lahey Health is dedicated to improving health and wellness and making a difference in the lives of our patients, their families and all members of the communities we serve.  Formed in March 2019, Beth Israel Lahey Health is a patient-centered, integrated care delivery system providing a continuum of services spanning academic, tertiary and community hospitals, dedicated orthopedic and psychiatric hospitals, primary and specialty care, community acute care, ambulatory care, behavioral services and home health.  Beth Israel Lahey Health Performance Network is a unified joint contracting and population health management organization, jointly governed by participating physicians and hospitals.

Equal Opportunity Employer/Minorities/Females/Disabled/Veterans.