Manager System Financial Reporting - Baystate Health
Springfield, MA
About the Job
Summary:
POSITION ACCOUNTABILITY:
The primary responsibility of this position is to prepare, manage and report out to senior management, the Finance Committee, the BH Board of Trustees, and the Audit & Compliance Committee, the Health System's consolidated financial results of operations. Paramount to this responsibility is the preparation of the Health System's annual audited financial statements and footnotes. This financial report consolidates 14 different Baystate entities which aggregate to approximately $2 billion in both total assets and net revenue. This position further includes the timely and accurate preparation of over 35 pages of detailed foonotes which accompany the audited consolidated financial statements. This responsibility further includes the coordination and management of the audit process with our 3rd party auditing firm. In addition to the annual reporting requirements, this Manager is also responsible for the timely and accurate reporting of monthly consolidating financial statements to senior management, the Finance Committee, and the Board of Trustees; including both statistical and financial reporting. The monthly reporting requirement also includes oversight of conforming the HNE and BHIC financial statements into the system financial statements as these entities use a different accounting system and report under Insurance accounting.
The Manager is also responsible for the oversight of the month to month financial accounting for the following individual entities: Baystate Administrative Services, Inc. (BAS); Baystate Health, Inc. (BH); Baystate Medical Practices, Inc. (BMP); and Ingraham Corporation, Inc. (IC). This responsibility includes having a detailed understanding of all significant transactions processed at these entities throughout the year and also having processes in places to ensure accurate reporting. In addition to the reporting entities above, this position is also directly responsible for the accurate reporting of an excess of $300 million in annual intercompany elimination activity.
Included in the monthly responsibilities at BH and BAS is the monitoring of cash balances and the performance of cash forecasts; specifically at BH. This position provides the VP of Finance with a BH cash break-down and one year cash forecast so as to enable senior management to make critical, informed decisions surrounding strategic expenditures.
This position also works closely with senior management to ensure timely and accuate financial reporting delivered to each of the three different rating agencies who rate Baystate Health public bonds; S&P, Moody's and Fitch.This deliverable includes timely analysis and calculation of signifcant rating ratio's, including but not limited to Days Cash on Hand and Days in Accounts Receivable.
Income tax preparation and review is a signifant responsibility of this position. This manager provides the oversight of the BH, BAS, and BMP tax returns, including all aspects of the forms 990, 990-T, and MA PC. The BH return is very complex and includes the oversight and review of filings in 8 different states. The BH tax return is also a higher risk tax return as it involves a complex technical calculation of BH's tax liability resulting from BHIC's Community Physician Insurance Program (CPIP). This manager performs this technical analysis and works closely with 3rd party tax specialists to ensure its accuracy and compliance with the tax code.
There are multiple "other filings" tasked to this Manager, which include the timely completion and filing of four to five annual US Census surveys.
This manager is also responsible for the preparation of the Health & Welfare Trust audited financial statements ($11M in assets and $75M in operations activity). In addition to the compilation of these financial statements and footnotes, this manager is further assigned the role of coordiating the audit process with the Trust's 3rd party auditors. In addition to health benefits accounting and reporting, this manager is also responsibile for the proper accounting and expense allocation for the system's ~$800M Defined Benefit Pension Plan and growing ~$200M Defined Contribution Pension Plan.
This position is also accountable for the accurate recording and proper allocation of Health benefits expenses. This position chairs the meeting to walk through Health expense results relatively to the Health expense budget.
Other responsibilities of this position include preparing financial and statistical data for the Baystate Annual Report, and also ensuring the financial dashboard on the Baystate website contains current information.
This position is also responsible for working directly with the Director of Finance in the financial reporting and budget for the Health System's off-shore insurance company; BHIC.
NATURE & SCOPE:
The Manager, Health System Financial Reporting, reports to the Director, Financial Services.
Reporting directly to the incumbent are BH, BAS, BMP, and Ingraham Corp accounting staff and the Assistant Financial Reporting Manager. These positions are accountable for the accurate and timely accumulation of statistical and financial information. The Manager, Health System Financial Reporting, monitors the performance of the above incumbents in the performance of their functions, monitors departmental operations and distributes workload based on the priorities and expertise of personnel within his/her department. Recommends employee merit increases, hiring, promotions, separations, transfers and similar actions. Develops and carries out a variety of internal departmental educational programs assuring that personnel are trained and oriented to appropriate work methods, procedures, techniques and proper financial reporting requirements.
Financial Services Department provides a major communications link between the Health System cost centers and Health System senior management. The Manager is challenged to develop effective systems for accumulation of accurate financial and statistical information and to develop procedures that would enable management to respond on a current and timely basis to budget variances and cash flow problems.
The Manager resolves all technical problems within the department. Incumbent refers to the Director, Financial Services for review and further action on unusual and sensitive personnel problems; interpretation of managerial policies and procedures; initiation of major projects within own organization that involves expenditure of large amounts of personnel, time and money; and other similar unusual and precedent-setting cases or problems.
Job Responsibilities:
1) Assembly and reporting of monthly consolidated system financial statements and statistics.
2) Preparation, coordination, management of the annual audited consolidated financial statements.
3) Supervision / review of the month to month accounting and financial reporting results for BAS, BH, BMP, and Ingraham Corp.
4) Oversight of the preparation of the annual Federal and State tax returns for the following companies: BAS,BH,BMP,IC
5) Preparation, coordination, and management of the H&W monthly activity and annual benefit trust audit.
6) Misc surveys and filings, including US Annual Census surveys
7) Establish and maintain accounting policies to ensure reported financial information is delivered both accurately and timely.
Required Work Experience:
1) CPA and, or 8 to 10 years of related accounting experience
Preferred Work Experience:
1) Healthcare related
Skills and Competencies:
1) Significant knowledge of GAAP is required in conjunction with a mastery of Microsoft office (specifically excel and powerpoint)
2) The ability to lead a team through change is essential
3) Strong oral and written skills are also essential to this position
You Belong At Baystate
At Baystate Health we know that treating one another with dignity and equity is what elevates respect for our patients and staff. It makes us not just an organization, but also a community where you belong. It is how we advance the care and enhance the lives of all people.
DIVERSE TEAMS. DIVERSE PATIENTS. DIVERSE LOCATIONS.
Education:
Bachelor of Arts (Required), Master of Science
Certifications:
Certified Public Accountant - Other
Equal Employment Opportunity Employer
Baystate Health is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, ancestry, age, genetic information, disability, or protected veteran status.
Ab out Baystate Health
Baystate Health (BH) is one of New England’s leading and largest integrated health care organizations, serving a population of nearly one million people throughout western New England. With roots dating back to the founding of Springfield City Hospital in 1873, Baystate Health has been providing high-quality and compassionate health care in western Massachusetts for more than 145 years. With more than 12,000 employees, a medical staff of nearly 3,100 physicians, and a net patient service revenue of more than $1.4 billion, the ever-growing health system includes five Massachusetts hospitals and the Baystate Mary Lane Outpatient Center in Ware:
+ Baystate Medical Center in Springfield
+ Baystate Children’s Hospital (located at Baystate Medical Center)
+ Baystate Franklin Medical Center in Greenfield
+ Baystate Wing Hospital in Palmer
+ Baystate Noble Hospital in Westfield
POSITION ACCOUNTABILITY:
The primary responsibility of this position is to prepare, manage and report out to senior management, the Finance Committee, the BH Board of Trustees, and the Audit & Compliance Committee, the Health System's consolidated financial results of operations. Paramount to this responsibility is the preparation of the Health System's annual audited financial statements and footnotes. This financial report consolidates 14 different Baystate entities which aggregate to approximately $2 billion in both total assets and net revenue. This position further includes the timely and accurate preparation of over 35 pages of detailed foonotes which accompany the audited consolidated financial statements. This responsibility further includes the coordination and management of the audit process with our 3rd party auditing firm. In addition to the annual reporting requirements, this Manager is also responsible for the timely and accurate reporting of monthly consolidating financial statements to senior management, the Finance Committee, and the Board of Trustees; including both statistical and financial reporting. The monthly reporting requirement also includes oversight of conforming the HNE and BHIC financial statements into the system financial statements as these entities use a different accounting system and report under Insurance accounting.
The Manager is also responsible for the oversight of the month to month financial accounting for the following individual entities: Baystate Administrative Services, Inc. (BAS); Baystate Health, Inc. (BH); Baystate Medical Practices, Inc. (BMP); and Ingraham Corporation, Inc. (IC). This responsibility includes having a detailed understanding of all significant transactions processed at these entities throughout the year and also having processes in places to ensure accurate reporting. In addition to the reporting entities above, this position is also directly responsible for the accurate reporting of an excess of $300 million in annual intercompany elimination activity.
Included in the monthly responsibilities at BH and BAS is the monitoring of cash balances and the performance of cash forecasts; specifically at BH. This position provides the VP of Finance with a BH cash break-down and one year cash forecast so as to enable senior management to make critical, informed decisions surrounding strategic expenditures.
This position also works closely with senior management to ensure timely and accuate financial reporting delivered to each of the three different rating agencies who rate Baystate Health public bonds; S&P, Moody's and Fitch.This deliverable includes timely analysis and calculation of signifcant rating ratio's, including but not limited to Days Cash on Hand and Days in Accounts Receivable.
Income tax preparation and review is a signifant responsibility of this position. This manager provides the oversight of the BH, BAS, and BMP tax returns, including all aspects of the forms 990, 990-T, and MA PC. The BH return is very complex and includes the oversight and review of filings in 8 different states. The BH tax return is also a higher risk tax return as it involves a complex technical calculation of BH's tax liability resulting from BHIC's Community Physician Insurance Program (CPIP). This manager performs this technical analysis and works closely with 3rd party tax specialists to ensure its accuracy and compliance with the tax code.
There are multiple "other filings" tasked to this Manager, which include the timely completion and filing of four to five annual US Census surveys.
This manager is also responsible for the preparation of the Health & Welfare Trust audited financial statements ($11M in assets and $75M in operations activity). In addition to the compilation of these financial statements and footnotes, this manager is further assigned the role of coordiating the audit process with the Trust's 3rd party auditors. In addition to health benefits accounting and reporting, this manager is also responsibile for the proper accounting and expense allocation for the system's ~$800M Defined Benefit Pension Plan and growing ~$200M Defined Contribution Pension Plan.
This position is also accountable for the accurate recording and proper allocation of Health benefits expenses. This position chairs the meeting to walk through Health expense results relatively to the Health expense budget.
Other responsibilities of this position include preparing financial and statistical data for the Baystate Annual Report, and also ensuring the financial dashboard on the Baystate website contains current information.
This position is also responsible for working directly with the Director of Finance in the financial reporting and budget for the Health System's off-shore insurance company; BHIC.
NATURE & SCOPE:
The Manager, Health System Financial Reporting, reports to the Director, Financial Services.
Reporting directly to the incumbent are BH, BAS, BMP, and Ingraham Corp accounting staff and the Assistant Financial Reporting Manager. These positions are accountable for the accurate and timely accumulation of statistical and financial information. The Manager, Health System Financial Reporting, monitors the performance of the above incumbents in the performance of their functions, monitors departmental operations and distributes workload based on the priorities and expertise of personnel within his/her department. Recommends employee merit increases, hiring, promotions, separations, transfers and similar actions. Develops and carries out a variety of internal departmental educational programs assuring that personnel are trained and oriented to appropriate work methods, procedures, techniques and proper financial reporting requirements.
Financial Services Department provides a major communications link between the Health System cost centers and Health System senior management. The Manager is challenged to develop effective systems for accumulation of accurate financial and statistical information and to develop procedures that would enable management to respond on a current and timely basis to budget variances and cash flow problems.
The Manager resolves all technical problems within the department. Incumbent refers to the Director, Financial Services for review and further action on unusual and sensitive personnel problems; interpretation of managerial policies and procedures; initiation of major projects within own organization that involves expenditure of large amounts of personnel, time and money; and other similar unusual and precedent-setting cases or problems.
Job Responsibilities:
1) Assembly and reporting of monthly consolidated system financial statements and statistics.
2) Preparation, coordination, management of the annual audited consolidated financial statements.
3) Supervision / review of the month to month accounting and financial reporting results for BAS, BH, BMP, and Ingraham Corp.
4) Oversight of the preparation of the annual Federal and State tax returns for the following companies: BAS,BH,BMP,IC
5) Preparation, coordination, and management of the H&W monthly activity and annual benefit trust audit.
6) Misc surveys and filings, including US Annual Census surveys
7) Establish and maintain accounting policies to ensure reported financial information is delivered both accurately and timely.
Required Work Experience:
1) CPA and, or 8 to 10 years of related accounting experience
Preferred Work Experience:
1) Healthcare related
Skills and Competencies:
1) Significant knowledge of GAAP is required in conjunction with a mastery of Microsoft office (specifically excel and powerpoint)
2) The ability to lead a team through change is essential
3) Strong oral and written skills are also essential to this position
You Belong At Baystate
At Baystate Health we know that treating one another with dignity and equity is what elevates respect for our patients and staff. It makes us not just an organization, but also a community where you belong. It is how we advance the care and enhance the lives of all people.
DIVERSE TEAMS. DIVERSE PATIENTS. DIVERSE LOCATIONS.
Education:
Bachelor of Arts (Required), Master of Science
Certifications:
Certified Public Accountant - Other
Equal Employment Opportunity Employer
Baystate Health is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, ancestry, age, genetic information, disability, or protected veteran status.
Ab out Baystate Health
Baystate Health (BH) is one of New England’s leading and largest integrated health care organizations, serving a population of nearly one million people throughout western New England. With roots dating back to the founding of Springfield City Hospital in 1873, Baystate Health has been providing high-quality and compassionate health care in western Massachusetts for more than 145 years. With more than 12,000 employees, a medical staff of nearly 3,100 physicians, and a net patient service revenue of more than $1.4 billion, the ever-growing health system includes five Massachusetts hospitals and the Baystate Mary Lane Outpatient Center in Ware:
+ Baystate Medical Center in Springfield
+ Baystate Children’s Hospital (located at Baystate Medical Center)
+ Baystate Franklin Medical Center in Greenfield
+ Baystate Wing Hospital in Palmer
+ Baystate Noble Hospital in Westfield
Source : Baystate Health