Description

Department:

10024 Enterprise Corporate - Executive Management

Status:

Full time

Benefits Eligible:

Yes

Hours Per Week:

40

Schedule Details/Additional Information:

1st shift, Monday to Friday

Pay Range
$170.90 - $273.45

The Wake Area Vice President Financial Operations is a key member of the executive leadership teams for both the Health System and School of Medicine as well as the Advocate Health Finance Leadership Team. This role reports to the CFO of the North Carolina and Georgia (NC/GA) Division of Advocate Health, with matrix reporting to both the Chief Executive Officer (CEO) of AHWFB and the Advocate Health (AH) Chief Academic Officer (CAO) & Dean of WFUSOM.

Additionally, the Wake Area Vice President Financial Operations serves as the principal financial liaison to AHWFB's governing bodies and Wake Forest University, as well as to Advocate Health senior management, ensuring alignment of financial strategy with organizational goals.

This executive is responsible for financial operations across AHWFB and WFUSOM in collaboration with the Advocate Health enterprise and division finance teams, including:

• Financial reporting (internal and external)
• Budgeting and forecasting
• Capital and business planning
• Strategic financial analysis

POSITION ACCOUNTABILITIES

Serves as the accountable finance leader for financial operations, including managing performance of the clinical assets (wholly owned and joint venture/other partnerships) and influencing and supporting performance of academic (education & research), and corporate (administrative and clinical) assets and departments.

Serves as a strategic advisor to both the CEO of AHWFB and the AH CAO & Dean of WFUSOM. Builds strong, positive relationships by establishing trust and credibility with all stakeholders: administrative and clinical leaders across the health system, Wake Forest University, the faculty practice, board members, and external constituents.

Financial Operations Management:

• Manages, plans, and organizes the financial operations of AHWFB, including financial performance, analytics and reporting, planning, budgeting and capital management.
• Directs completion and reviews/reports on financial performance. Identifies, assesses, documents, and monitors opportunities to maximize revenue and manage expenses. Identifies and drives opportunities for savings with the executive leadership team. Evaluates and improves financial operations and related policies to ensure that they best support an integrated approach to service delivery.
• Leads collaboration efforts with AH, AHWFB, and WFUSOM academic leadership, ensuring alignment, completion and maintenance of annual Long Range Financial Plan and operating and capital budget processes. Analyzes variances to budgets/forecasts and communicates to Area and Division operations and finance leadership. Partners with operations leaders to ensure financial targets are met and/or exceeded.
• Advises AHWFB leadership on financial performance while also serving as a strategic liaison to key enterprise departments-such as corporate accounting, managed health resources and reimbursement, revenue cycle, health information management, supply chain, human resources, nursing, IT, and facilities management. Acts as a conduit between area leadership and enterprise functions to align priorities and drive performance.
• Works collaboratively with operations management and corporate revenue cycle departments (Patient Access and Patient Financial Services, Health Information Management, Clinical Documentation Improvement, Reimbursement) to optimize revenue and performance, and better understand/enhance payer and reimbursement trends.
• Standardizes work, processes and deliverables and ensures financial integration within and across the Area and individual patient care sites.
• Presents financial information to governance boards and subcommittees and Area/Division executive and management teams.

Enterprise Finance: represents NC/GA Division and AH CFO(s), as applicable, in advising Enterprise leadership via committee, working groups, project teams, etc., in the domains of revenue growth, expense management, and strategic planning, particularly for clinical/service line and corporate operations.

LEADERSHIP IMPERATIVES

Thinks Critically and Strategically

• Applies rigorous problem definition, data collection, and analysis to make sound decisions amid uncertainty and ambiguity.
• Identifies key patterns in complex environments, distills insights, and communicates them through clear, simplified, and impactful messaging.
• Sees the big picture and has a long-term perspective, while balancing it against short-term realities.

Envisions and Enacts the Future

• Crafts and articulates compelling, achievable visions for the future.
• Inspires and mobilizes teams to transform vision into reality.
• Champions innovation and builds the capabilities needed to support it.
• Acts as a dedicated steward of the AHWFB, WFUSOM, and AH culture.

Connects and Collaborates Across the Enterprise

• Recognizes integration and collaboration as essential to high performance.
• Builds and nurtures cross-functional teams, effectively navigating organizational "white spaces."
• Seeks win-win outcomes and puts the well-being of the patient and the overall organization first.
• Leads inclusively and effectively across diverse cultures and perspectives.

Builds and Leads Inclusive, High-Performing Teams

• Values diversity and leverages it to maximize team performance.
• Fosters trust and psychological safety to encourage open dialogue and candid debate.
• Builds consensus while making timely, decisive calls when needed.
• Achieves exceptional results by empowering and developing others.

Understands and Shapes the External Environment

• Possesses deep knowledge of the AHWFB/WFUSOM/AH business model and the broader consumer, competitive, political, and social landscape.
• Actively engages with and influences external environments to advance organizational goals.
• Builds strategic relationships with key stakeholders.
• Effectively leverages public affairs, communications, and government relations to drive outcomes.

Builds Talent for and Across the System

• Demonstrates personal accountability for developing future leaders who reflect the diversity of the communities served.
• Collaborates in assessing and cultivating executive talent, emphasizing both competence and character.
• Invests time in mentoring and coaching high-potential individuals.
• Serves as a role model, embodying the values and culture of AHWFB, WFUSOM, and AH.

QUALIFICATIONS

EDUCATION/EXPERIENCE:

• Bachelor's degree from an accredited college or university is required.
• Master's degree in business, finance, accounting, healthcare administration, or a related field is required.
• A minimum of 10 years of progressive leadership experience in health system finance and operations is required.
• Prior experience as a CFO within an academic health system with annual revenues exceeding $2 billion is preferred.

LICENSURE, CERTIFICATION, and/or REGISTRATION:

• Professional certification such as a CPA and/or HFMA and ACHE designations is preferred

SKILLS/QUALIFICATIONS:

• Comprehensive experience in senior financial management, including substantial experience in complex P&L management, financial reporting, accounting policy development, internal control design and remediation, systems implementation, not for profit tax compliance, and management of internal and external audit issues.
• Direct CFO or Senior Finance experience in a hospital or health system with multi-site, multi-disciplinary components, including Medical School and Research/Innovation business units and Medical Group/Service Lines is strongly preferred.
• Demonstrates an understanding of the intersection of research, teaching, and clinical care in an academic health center.
• Deep understanding and experience with comprehensive revenue cycle management and reimbursement, as well as the systems that support the function and a measurable track record of success in cost management.
• Knowledge of fundamentals and advance practices in the field of financial management as it relates to integrated health systems and hospitals.
• Commitment to truth and transparency; leads with authenticity.
• Ability to quickly respond to organizational constraints and industry pressures which occur in an environment of intense change.
• In-depth understanding of the key business issues and emerging trends in the healthcare industry.
• Effectively represents the enterprise with elected officials, agency representatives and the community.
• Demonstrates capacity to rapidly analyze and synthesize relevant quantitative and qualitative information.
• Proven ability to conceptualize issues and develop pragmatic solutions.
• High energy, drive for results and focus on creating value on a sustained basis.
• Pursues innovation; drives the organization to advance the mission via breakthrough thinking.
• Visible and unifying leader.
• Ability to create and sustain outstanding interpersonal relationships; engenders trust and respect.
• Inspires excellence among staff and sets the tone for the organization's further growth and success.
• Able to lead and influence change in a matrix environment.
• Possess strong management skills, ability to multi-task, and be able to direct and evaluate the performance of others.

Our Commitment to You:

Advocate Health offers a comprehensive suite of Total Rewards: benefits and well-being programs, competitive compensation, generous retirement offerings, programs that invest in your career development and so much more - so you can live fully at and away from work, including:

Compensation

• Base compensation listed within the listed pay range based on factors such as qualifications, skills, relevant experience, and/or training
• Premium pay such as shift, on call, and more based on a teammate's job
• Incentive pay for select positions
• Opportunity for annual increases based on performance

Benefits and more

• Paid Time Off programs
• Health and welfare benefits such as medical, dental, vision, life, and Short- and Long-Term Disability
• Flexible Spending Accounts for eligible health care and dependent care expenses
• Family benefits such as adoption assistance and paid parental leave
• Defined contribution retirement plans with employer match and other financial wellness programs
• Educational Assistance Program

About Advocate Health

Advocate Health is the third-largest nonprofit, integrated health system in the United States, created from the combination of Advocate Aurora Health and Atrium Health. Providing care under the names Advocate Health Care in Illinois; Atrium Health in the Carolinas, Georgia and Alabama; and Aurora Health Care in Wisconsin, Advocate Health is a national leader in clinical innovation, health outcomes, consumer experience and value-based care. Headquartered in Charlotte, North Carolina, Advocate Health services nearly 6 million patients and is engaged in hundreds of clinical trials and research studies, with Wake Forest University School of Medicine serving as the academic core of the enterprise. It is nationally recognized for its expertise in cardiology, neurosciences, oncology, pediatrics and rehabilitation, as well as organ transplants, burn treatments and specialized musculoskeletal programs. Advocate Health employs 155,000 teammates across 69 hospitals and over 1,000 care locations, and offers one of the nation's largest graduate medical education programs with over 2,000 residents and fellows across more than 200 programs. Committed to providing equitable care for all, Advocate Health provides more than $6 billion in annual community benefits.

The Atrium Health Wake Forest Baptist (AHWFB), Wake Area Vice President Financial Operations serves as the senior financial executive for this nationally ranked, fully integrated academic health system based in Winston Salem, North Carolina. AHWFB has grown significantly with over $6 billion in annual revenue, 8 hospitals, 2,000+ providers, and 25,000+ team members in Central and Western North Carolina. Wake Forest University School of Medicine (WFUSOM), with two campuses in Winston-Salem and Charlotte, is a premier academic institution, generating over $400 million in annual extramural funding. The school operates with an annual budget exceeding $500 million, and the broader academic enterprise (education and research) totals approximately $700 million. AHWFB is now part of Advocate Health-the third-largest nonprofit health system in the U.S., with over $32 billion in annual revenue. The AHWFB integrated health system and WFU School of Medicine serve as the academic core of Advocate Health advancing research, education, and innovation across the nation.