​Location: Arlington Heights, IL (Remote or Hybrid Considered for the Right Candidate)

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Job Type: Part-Time

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Salary: Competitive and commensurate from $70,000.00-$90,000.00 depending on experience

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The Chief Financial Officer (CFO) serves as a strategic member of the executive leadership team and is responsible for the overall financial management, fiscal integrity, and long-term financial sustainability of the Federally Qualified Health Center (FQHC). The CFO provides leadership in financial planning, budgeting, revenue cycle management, compliance, grants management, reimbursement optimization, and strategic decision-making while ensuring compliance with HRSA regulations, Uniform Guidance (2 CFR Part 200), Generally Accepted Accounting Principles (GAAP), and all applicable federal, state, and local requirements.

 

The CFO partners closely with the Chief Executive Officer (CEO), Board of Directors, leadership team, and external stakeholders to support the organization's mission of providing high-quality, accessible healthcare services to underserved communities.

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Essential Duties and Responsibilities

Financial Leadership

• Develop and execute financial strategies that support the organization's mission and strategic goals.

• Advise the CEO and Board of Directors on financial performance, risks, opportunities, and long-term sustainability.

• Lead financial forecasting, strategic planning, and organizational growth initiatives.

• Present monthly financial statements and key performance indicators to executive leadership and the Board of Directors.

• Monitor cash flow and liquidity to ensure the organization's financial stability.

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Financial Management

Direct all accounting functions, including:

• General Ledger

• Accounts Payable

• Accounts Receivable

• Payroll

• Fixed Assets

• Financial Reporting

• Ensure accurate monthly financial statements are completed timely.

• Oversee preparation of annual operating and capital budgets.

• Develop financial models to evaluate new service lines, expansion opportunities, and provider productivity.

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Revenue Cycle Management

• Provide executive oversight of revenue cycle operations including:

  • Medical billing

  • Coding

  • Claims processing

  • Payment posting

  • Accounts receivable management

  • Denial management

  • Credentialing financial oversight

  • Monitor key revenue cycle metrics and implement performance improvement initiatives.

  • Collaborate with operational leaders to maximize reimbursement while maintaining regulatory compliance.

  • Analyze payer contracts and negotiate reimbursement opportunities.

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HRSA & Regulatory Compliance

• Ensure compliance with all HRSA Health Center Program requirements.

• Oversee compliance with Uniform Guidance (2 CFR Part 200), federal grant regulations, and Single Audit requirements.

• Ensure financial systems support HRSA Operational Site Visits (OSV), Uniform Data System (UDS), and grant reporting.

• Maintain internal controls that safeguard organizational assets.

• Grants Management

• Oversee financial administration of federal, state, and private grants.

• Ensure grant expenditures comply with funding requirements.

• Prepare financial reports for grant agencies.

• Monitor grant budgets and ensure timely drawdowns and reporting.

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Audit & Risk Management

• Coordinate annual independent financial audit and Single Audit.

• Implement corrective action plans when necessary.

• Ensure compliance with GAAP and applicable accounting standards.

• Maintain internal financial controls and risk management practices.

• Oversee organizational insurance and financial risk mitigation strategies.

• Budgeting & Financial Planning

• Lead annual budgeting process with department leaders.

• Monitor departmental budgets and provide variance analysis.

• Develop multi-year financial projections.

• Identify opportunities for operational efficiencies and cost savings.

• Support capital planning and facility expansion projects.

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Leadership & Team Development

• Supervise finance department staff including accounting, billing, payroll, and finance personnel.

• Develop staff through coaching, mentoring, and performance management.

• Foster a culture of accountability, collaboration, and continuous improvement.

• Strategic Initiatives

• Evaluate new business opportunities, partnerships, acquisitions, and service expansions.

• Perform financial feasibility analyses.

• Support value-based care initiatives and alternative payment models.

• Participate in executive leadership meetings and strategic planning.

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Minimum Qualifications

Education

• Bachelor's degree in Accounting, Finance, Business Administration, or related field required.

• Master's degree (MBA, MHA, or Master's in Finance) preferred.

• CPA preferred.

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Experience

• Minimum of seven (7) years of progressive financial leadership experience.

• Minimum of five (5) years in healthcare finance required.

• Prior FQHC, Community Health Center, or nonprofit healthcare experience strongly preferred.

• Experience managing federal grants and HRSA compliance preferred.

• Experience with Medicaid, Medicare, managed care, and value-based reimbursement models.

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Knowledge, Skills, and Abilities

• Extensive knowledge of healthcare finance and reimbursement.

• Strong understanding of HRSA Health Center Program requirements.

• Experience with nonprofit accounting and GAAP.

• Strong analytical and financial modeling skills.

• Excellent communication and presentation abilities.

• Experience preparing Board financial reports.

• Strong leadership and team development skills.

• Ability to manage multiple priorities in a fast-paced healthcare environment.

• High level of integrity, professionalism, and confidentiality.

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Preferred Experience

• HRSA Operational Site Visit (OSV) experience.

• UDS reporting knowledge.

• Federal grant administration.

• Cost reporting.

• Medicaid prospective payment system (PPS) reimbursement.

• Physician compensation modeling.

• Multi-site healthcare operations.

• Revenue cycle optimization.

• Electronic Health Record (EHR) financial reporting systems.

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Physical Requirements

• Ability to sit for extended periods.

• Ability to occasionally lift up to 20 pounds.

• Ability to travel between clinic locations and attend off-site meetings as needed.

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Core Competencies

• Strategic Leadership

• Financial Stewardship

• Regulatory Compliance

• Business Acumen

• Operational Excellence

• Data-Driven Decision Making

• Collaboration

• Communication

• Integrity

• Accountability

• Continuous Improvement

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Reporting Relationship

Reports To: Chief Executive Officer (CEO)

Supervises: Controller, Accounting Staff, Revenue Cycle/Billing Department, Payroll, and other finance personnel as assigned.

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Compensation

Competitive salary commensurate from $70,000.00-$90,000.00 depending on experience. Comprehensive benefits package including health, dental, vision, retirement plan, paid time off, continuing education, and professional development opportunities.

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Equal Employment Opportunity

Legacy Medical Care is an Equal Opportunity Employer committed to fostering an inclusive workplace. We celebrate diversity and are committed to creating an environment of mutual respect and equal opportunity for all employees.

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If you are interested in being a leader in healthcare and contributing to Legacy Medical Care’s mission, please submit your resume and a brief cover letter outlining your interest and qualifications to humanresources@legacymedicalcare.org.