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Chamberlain Advisors · 1 day ago

CFO, PE-backed Physical Therapy Network Serving Personal Injury Law Firms

San Diego, CA

Full-time

Onsite

Director/Executive

15+ years exp

Chamberlain Advisors is conducting an executive search for a CFO for a rapidly growing private equity-backed physical therapy network. The CFO will serve as the primary financial advisor to the CEO and management team, overseeing financial strategy, capital management, and revenue recognition in a complex and contingent revenue environment.

Staffing & Recruiting

Hiring Manager

Brad Thomas

Responsibilities

Acts as the chief finance & accounting expert, extending support to the CEO, individual business functions, and private equity sponsors, offering informed recommendations to progress the business

Partners with the executive team and Board of Directors to design and establish annual financial goals, capital, and operating budgets; monitors and analyzes performance against these objectives

Directs annual operations planning, budget, and forecast processes, continuously improving process efficiencies

Delivers accurate and timely consolidated financial reporting packages, performance measurements, and assessments (i.e., board-level reporting, management & internal KPI reporting, bank reporting including covenants)

Ensures the accuracy and timeliness of consolidated financial reporting of acquired business entities

Sets and communicates the vision and objectives for the Finance and Accounting department, identifying and remediating people and process gaps

Provides technical guidance, financial model support, and feedback as the primary finance business partner across the organization

Ensures the firm operates with a continuous improvement and forward-thinking mindset

Optimizes the ERP system and improves financial systems, processes, and procedures to strengthen the foundation as the business scales

Cultivates a strong and transparent working relationship with the executive team and board of directors

Partners with and manages external lenders and audit relationships, addresses and remediates issues

Oversees treasury function activities, including cash management, forecasting, lending and banking relationships

Oversee all accounting functions, ensuring timely, accurate, and GAAP-compliant financial statements

Ensure proper technical accounting treatment (e.g., ASC 606) for revenue recognition in this complex, contingent environment

Drive selection and implementation of financial and operational systems (ERP, Practice Management, Business Intelligence) to support rapid scaling and automation, linking treatment costs to ultimate settlement values for predictive modeling and enhanced data integration

Establish and enforce rigorous internal controls around billing, treatment documentation, and compliance to safeguard billing integrity and ensure maximum payment upon case settlement

Manage relationships with all external stakeholders, including the Private Equity Board, financing partners (factor, bank, lenders), auditors, and tax authorities, acting as a clear and transparent financial communicator

Serve as a strategic partner to the CEO and Operations, guiding critical business decisions such as clinic expansion, physician/referral partner alignment, and patient acquisition strategy, always framed by the financial risk appetite and working capital constraints

Develop and champion specialized Key Performance Indicators (KPIs) that are critical to the business model, including Settlement Velocity, Collection Percentage Lift, Risk-Adjusted Revenue per Case, Treatment Authorization-to-Settlement Ratio, and Cost-of-Capital per Case

Lead all Financial Planning & Analysis (FP&A), budgeting, forecasting, and long-range planning, directly linking treatment volume, clinical efficiency, and referral patterns to financial outcomes

Drive the financial execution of the Private Equity investment thesis, identifying operational and financial levers to enhance profitability and enterprise valuation for exit

Possesses deep understanding of PI case economics and contingency fee structures to strategically design, negotiate, and execute mutually beneficial Master Service Agreements (MSAs) with key law firm partners

Ensures all financial processes, documentation, and data exchanges are transparent, streamlined, and legally sound to reduce the administrative burden on law firm paralegals and settlement officers

Establishes and oversees internal finance processes that minimize friction during the critical, time-sensitive settlement disbursement phase, ensuring the rapid and accurate issuance of final lien/payoff documentation

Uses financial analysis to model the lifetime value of referral relationships and guide the company's investment strategy in those key partnerships, aligning with business development goals

Lead the strategy, negotiation, and day-to-day management of factoring or asset-based lending facilities specifically against contingent legal receivables

Ensure optimal advance rates, minimum cost of capital, and efficient management of factoring reserves to maximize operational cash flow

Implement and manage a sophisticated collection function designed to optimize negotiation outcomes and secure a measurable increase in the percentage of billed services collected

Develop and maintain sophisticated quantitative risk models to assess the likelihood of successful case settlements and the recoverable value of patient treatment

Drive initiatives to accelerate the Case-to-Cash Cycle Time

Develop and maintain rigorous 12-24 month rolling cash flow forecasts, stress-testing the capital structure under various settlement volume and velocity scenarios

Own the rigorous, auditable methodology for bad debt and write-off reserves, accurately accounting for the contingent nature of revenue

Qualification

CFO experienceFactoring expertiseRevenue model acumenFinancial planningModelingU.S. GAAP knowledgeSystems implementationExecutive presenceContinuous improvementTeam success orientationCollaborative mindset

Required

Minimum of 15 – 20+ years of progressively responsible experience in finance, with at least 5 years in a senior leadership role (CFO, VP of Finance, or Divisional CFO)

Demonstrated success as a CFO or senior finance executive providing strategic financial partnership to a CEO and a sophisticated Board of Directors

Proven experience in developing and driving a defined value creation plan, delivering results, and preparing a company for a successful financial transaction or sale

Required, hands-on experience in structuring, negotiating, and managing factoring facilities, Asset-Based Lending (ABL), or other highly structured debt against contingent or long-cycle accounts receivable

Deep knowledge of optimizing discount rates, reserve management, and banking covenant compliance

Direct experience managing financial operations within the healthcare services sector or a related field (e.g., litigation finance) that involves complex, delayed, or contingent reimbursement models

Proven ability to lead a finance function through periods of rapid organic growth and network expansion, successfully transitioning financial systems, controls, and reporting to support continuous new clinic launches

Expert knowledge of U.S. GAAP, specifically around complex revenue recognition (ASC 606) in a contingent revenue environment and technical accounting for debt instruments

Demonstrated expertise in dynamic, multi-scenario cash flow modeling and advanced financial planning and analysis (FP&A)

Experience with ERP system selection, implementation, and optimization to support a scaling business, ideally integrating with practice management or clinical systems used across a multi-site network

Bachelor's Degree in Accounting, Finance, or Business is required