Chief Financial Officer
Sterling Health Care
Job Description
Chief Financial Officer (CFO)
Employment Status: Full Time FLSA Status: Exempt |
Direct Supervisor: CEO/Executive Director |
Department: Administration Primary Work Location: Admin Effective Date: 03/25/2015 Revised Date: 10/22/2026 |
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Job Summary
The Chief Financial Officer (CFO) provides strategic and operational leadership for all financial matters of the nonprofit community healthcare organization. Reporting directly to the Chief Executive Officer (CEO) and serving as a key member of the Executive Leadership Team, the CFO works closely with the CEO and Board of Directors to support the organization’s financial health, strategic goals, and long-term sustainability.
The CFO oversees the organization’s financial, accounting, and billing functions and is responsible for providing sound financial guidance to support effective decision-making across the organization. This position requires a highly organized and adaptable leader who can successfully manage competing priorities, meet critical deadlines, and thrive in an autonomous, fast-paced, and continually evolving healthcare environment.
Essential Duties and Responsibilities
An employee in this position may be called upon to do any or all of the following essential duties:
Finance
- Provide strategic leadership and oversight for the organization’s financial operations and overall fiscal health.
- Manage cash-flow planning and ensure adequate funds are available to meet the organization’s operational and financial obligations.
- Oversee cash management, investments, and organizational assets.
- Develop and manage financing strategies and activities, including banking and other financial relationships.
- Develop and utilize forward-looking financial models, forecasts, and activity-based analyses to evaluate organizational performance and support strategic and operational decision-making.
- Monitor financial performance, identify trends and areas of financial risk, and recommend appropriate strategies to the CEO and Executive Leadership Team.
- Evaluate financial implications of new programs, services, capital investments, and other strategic initiatives.
Planning and Policy
- Lead and coordinate the preparation of the organization’s annual operating and capital budgets.
- Develop financial business plans, forecasts, projections, and long-term financial strategies.
- Develop, implement, and maintain appropriate financial policies, procedures, systems, and controls.
- Provide financial leadership and support for organizational strategic planning and growth initiatives.
- Work closely with the Finance Committee of the Board of Directors to communicate financial performance and present short- and long-term financial plans, investment strategies, budgets, and business plans for review and approval, as appropriate.
- Prepare and present financial information to the CEO, Executive Leadership Team, Finance Committee, and Board of Directors in a clear and meaningful manner.
- Develop and maintain effective relationships with financial partners and other external parties, including financial institutions, investment managers, auditors, attorneys, vendors, and public officials.
- Maintain current knowledge of applicable federal, state, and local laws, regulations, funding requirements, and financial requirements that impact nonprofit healthcare organizations and Federally Qualified Health Centers (FQHCs).
Accounting and Administration
- Provide leadership and oversight of the Accounting Department, ensuring the proper maintenance and integrity of accounting systems, records, and financial functions.
- Ensure appropriate internal controls, accounting practices, and financial procedures are established, maintained, and consistently followed.
- Ensure compliance with applicable federal, state, and local financial and reporting requirements.
- Ensure the timeliness, accuracy, and consistency of financial and management reporting for organizational leadership, the Board of Directors, and applicable federal, state, and local funding entities.
- Oversee the preparation, analysis, and communication of monthly, quarterly, and annual financial statements and other financial reports.
- Monitor budget-to-actual performance, investigate significant variances, and provide recommendations to leadership as appropriate.
- Coordinate and participate in annual financial audits and other required audits, reviews, and financial examinations.
- Ensure the timely and accurate preparation and filing of applicable tax returns, financial reports, and regulatory filings.
- Oversee relationships with external auditors and other financial consultants and advisors.
Revenue Cycle and Billing
- Provide executive oversight of billing and revenue cycle functions to support the financial sustainability of the organization.
- Partner with senior leadership and management to evaluate revenue cycle performance and identify opportunities for process improvement.
- Develop and support strategies to improve the effectiveness and efficiency of the revenue cycle management process.
- Monitor financial and operational indicators related to billing, collections, accounts receivable, reimbursement, and revenue performance.
- Collaborate with operational and clinical leadership to address financial processes that affect reimbursement and organizational revenue.
- Promote consistent financial practices and accountability across departments and operational areas.
Leadership and Organizational Responsibilities
- Serve as a key member of the Executive Leadership Team and provide financial expertise and recommendations to support organizational decision-making.
- Advise the CEO on financial strategy, organizational risk, fiscal sustainability, and opportunities for growth and improvement.
- Provide leadership, direction, development, and support to assigned staff and promote accountability for departmental goals and responsibilities.
- Establish priorities and ensure financial department objectives align with the organization’s strategic goals.
- Collaborate effectively with clinical, operational, administrative, and executive leadership across the organization.
- Maintain the confidentiality and security of financial, employee, patient, and organizational information in accordance with applicable requirements and organizational policies.
- Perform other duties and responsibilities as assigned.
Position Type/Expected Hours of Work
Fulltime, exempt position. Occasional evening and weekend work may be required based on operational needs.
Travel
Travel between health center sites is required.
Knowledge, Skills, and Abilities
Required
- Demonstrated experience in a senior financial management role, partnering with executive leadership to develop and implement effective financial management strategies.
- Extensive knowledge of nonprofit accounting principles and practices, including fund and grant accounting, financial compliance, and reporting requirements.
- Strong management and supervisory skills, including experience with recruitment, staff development, coaching, performance management, and employee accountability.
- Proven ability to establish and maintain effective working relationships across departments, functional areas, and all levels of the organization.
- Strong customer service focus with a demonstrated commitment to achieving organizational and financial results.
- Experience collaborating with information technology staff and vendors in the implementation, maintenance, and effective utilization of financial and accounting systems.
- Excellent written and verbal communication skills, with the ability to clearly communicate complex financial information to both financial and non-financial audiences.
- Demonstrated leadership, team-building, decision-making, and interpersonal skills.
- Excellent organizational, analytical, critical-thinking, problem-solving, and abstract reasoning skills.
- Ability to analyze complex financial information, identify trends and risks, and develop appropriate recommendations and solutions.
- Ability to manage multiple priorities and deadlines effectively in a fast-paced and continually changing healthcare environment.
- Ability to exercise sound judgment, discretion, and a high degree of confidentiality when handling sensitive financial and organizational information.
Credentials and Experience
Required
- Bachelor’s degree in Finance, Accounting, Business Administration, or a closely related field from an accredited college or university.
- Minimum of ten (10) years of progressively responsible financial management experience, including at least five (5) years of experience serving as a Chief Financial Officer or in an equivalent senior financial leadership role; experience within a community health center, FQHC, nonprofit healthcare organization, or similar healthcare setting is preferred.
- Knowledge of healthcare financial operations, reimbursement methodologies, and revenue cycle management.
- Experience working with managed care organizations and Medicaid payers.
- Knowledge of healthcare practice management systems and electronic health record (EHR) systems is highly desirable.
- High level of proficiency in Microsoft Office applications, with advanced proficiency in Excel.
- Demonstrated experience interpreting financial data and presenting financial information, forecasts, and recommendations to executive leadership and governing boards.
Preferred
- Certified Public Accountant (CPA) designation is highly desirable.
- Advanced degree in Accounting, Finance, Business Administration, Healthcare Administration, or a related field is preferred.
- Prior financial leadership experience within a Federally Qualified Health Center (FQHC) or nonprofit community healthcare organization is preferred.
Physical Demands
- Finger dexterity: Picking, pinching, typing, or otherwise working, primarily with fingers rather than with the whole hand as in handling.
- Grasping: Applying pressure to an object with the fingers and palm.
- Hearing: Perceiving the nature of sounds at normal speaking levels with or without correction. Ability to receive detailed information through oral communication, and to make the discrimination in sound.
- Reaching: Frequently required to reach with hands and arms forward and above the head.
- Mental Acuity: Ability to make rational decisions through sound logic and deductive processes.
- Speaking: Expressing or exchanging ideas by means of the spoken word including the ability to convey detailed or important spoken instructions to other workers accurately and concisely.
- Visual Acuity: Must have sufficient visual acuity to perform tasks such as preparing and analyzing data and figures, transcribing information, viewing a computer screen, and conducting extensive reading. Requires visual abilities including close, distance, color, and peripheral vision, depth perception, and the ability to adjust focus.
This position requires sitting, standing, and walking for extended periods. It may involve working under stressful conditions or irregular hours. Frequent exposure to communicable diseases, body fluids, toxic substances, medicinal preparations, and other conditions common in a clinical environment may occur.
Additional Information
The above statements describe the primary responsibilities and requirements of the position but are not intended to be an exhaustive list of all duties or skills required. Sterling Health Solutions, Inc. reserves the right to revise or modify job duties as business needs evolve. This job description does not constitute an employment contract, and employment remains at‑will.
If an employee is unable to perform the essential functions of the position, reasonable accommodations may be considered.
Employee Signature
I acknowledge that I have read and understand the job description, job duties, qualifications, policies, and procedures for this position. I acknowledge that I am able to complete the essential functions of my job and physical demands. I also certify that I have received/ have access to a copy of this signed job description.
Incumbent: ____________________________ Date: _______________________