Signet Health · 11 hours ago
Chief Financial Officer (CFO)
Midland, TX
Full-time
Onsite
Director/Executive
12+ years expSignet Health is actively hiring for the Chief Financial Officer (CFO) position at their newly established nonprofit psychiatric hospital, the Permian Basin Behavioral Health Center. The CFO will be responsible for overseeing all financial functions, ensuring the hospital's financial sustainability while expanding access to behavioral health services for the community.
ConsultingHealth Care
Responsibilities
Serve as a strategic partner to the CEO and a trusted financial advisor to the Board of Directors
Integrate financial strategy with the hospital’s nonprofit mission, community benefit obligations, and charitable purpose
Support Board governance by providing timely, accurate, and transparent financial reporting and analysis
Participate actively in organizational strategy, service line planning, and long-range financial sustainability discussions
Ensure financial decisions align with ethical standards, nonprofit fiduciary duties, and public trust expectations
Lead all financial planning and execution for hospital start-up activities, including
Multi-year pro forma development
Start-up capital budgeting and cost controls
Ramp-up cash flow modeling through census stabilization
Establish the hospital’s financial infrastructure from inception, including
Accounting systems and chart of accounts
Financial policies and procedures
Internal controls and segregation of duties
Collaborate with executive and clinical leadership on licensure, accreditation, and readiness activities, ensuring financial compliance and documentation are survey-ready
Support grant funding, philanthropic contributions, and donor-restricted fund tracking during start-up, as applicable
Develop and oversee the annual operating and capital budgets in collaboration with department leaders and clinical leadership
Implement multi-year financial planning and rolling forecasts tied to census, acuity, and payer mix assumptions
Monitor organizational financial performance against budget, benchmarks, and strategic goals
Establish and report on key financial and operational KPIs, translating financial data into actionable insights
Proactively identify financial risks and opportunities and recommend mitigation or optimization strategies
Oversee all aspects of the revenue cycle, including
Patient financial services
Coding, billing, and claims management
Denials prevention and appeals
Accounts receivable and cash collections
Lead payer contracting strategy across Medicaid, Medicare (if applicable), managed Medicaid, and commercial payers, with specific expertise in behavioral health reimbursement structures
Optimize payer mix and reimbursement methodologies while maintaining access for mission-critical populations
Ensure compliance with federal and state billing regulations, including nonprofit-specific reimbursement requirements
Monitor evolving behavioral health payment models, parity regulations, and value-based care opportunities
Oversee all accounting functions, including general ledger, payroll, accounts payable/receivable, and fixed assets
Ensure timely and accurate monthly, quarterly, and annual financial statements in accordance with GAAP and nonprofit accounting standards
Lead preparation for annual independent financial audits and oversee corrective action plans, as necessary
Ensure accurate reporting of restricted and unrestricted funds, grants, and community benefit expenditures
Support transparency and accountability to regulators, funders, donors, and the public
Manage cash flow, liquidity, and reserves to ensure operational continuity during start-up and growth phases
Oversee relationships with banks, bondholders, philanthropic partners, and other financial stakeholders
Support tax-exempt financing, bond compliance, and debt covenant monitoring, if applicable
Lead capital planning for facility development, equipment acquisition, IT systems, and future expansion
Develop long-term strategies for financial resilience, including reserve policies and risk mitigation plans
Ensure compliance with all federal, state, and local financial regulations applicable to nonprofit healthcare organizations
Partner with compliance, legal, and clinical leadership to mitigate financial and reimbursement risk
Oversee policies related to fraud and abuse prevention, cost reporting, and financial disclosures
Support regulatory reporting requirements, including cost reports, grant reporting, and nonprofit disclosures
Serve as the primary financial liaison to the Board Finance Committee and Audit Committee
Prepare and present financial reports, dashboards, and strategic analyses for Board review
Support Board education on financial performance, risks, and industry trends in behavioral health
Represent the organization with external stakeholders, including auditors, regulators, donors, and community partners
Recruit, develop, and lead a high-performing finance, accounting, and revenue cycle team
Establish a culture of fiscal accountability, ethical stewardship, and continuous improvement
Implement scalable systems and processes to support organizational growth
Promote cross-functional collaboration between finance, clinical, and operational teams
Qualification
Required
Bachelor's degree in Finance, Accounting, Business Administration, or related field
Minimum of 12-15 years of progressive financial leadership experience in healthcare
Demonstrated experience in nonprofit hospital or healthcare system finance
Experience working directly with Boards of Directors and Board committees
Proven success managing revenue cycle operations and payer contracting in complex reimbursement environments
Expert knowledge of nonprofit healthcare finance, including fund accounting and community benefit reporting
Deep understanding of psychiatric hospital reimbursement, parity laws, and regulatory requirements
Strong financial modeling, forecasting, and analytical skills
Ability to operate effectively in a start-up environment with evolving infrastructure
Exceptional communication skills, with the ability to present complex financial concepts clearly to diverse stakeholders
Demonstrated integrity, sound judgment, and commitment to the nonprofit mission
Preferred
MBA, MHA, CPA, or equivalent advanced credential
Behavioral health or psychiatric hospital operations
De novo hospital development or major organizational start-up
Company
Signet Health
Signet Health is a healthcare company offering psychiatric services and consultancy services.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Joy Figarsky
President, CEO
Blake Browder
CFO
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