VP & Controller - Administration (1.0 FTE, Days)
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Lucile Packard Children's Hospital Stanford is the heart and soul of Stanford Children’s Health. Nationally ranked and internationally recognized, our 311-bed hospital is devoted entirely to pediatrics and obstetrics. Our six centers of excellence provide comprehensive services and deep expertise in key obstetric and pediatric areas: brain & behavior, cancer, heart, pregnancy & newborn, pulmonary and transplant. We also provide an additional, wide range of services for babies, kids and pregnant moms
The Vice President and Controller reports to the Chief Financial Officer of Lucile Packard Children’s Hospital (LPCH), Packard Children’s Health Alliance (PCHA) and Packard Medical Group (PMG). LPCH has total gross revenues of over $4 billion and total assets of approximately $3 billion. This position is a key finance leadership position that manages two departments, including Finance/Accounting reporting to the Controller and DSS reporting to the Administrative Director of DSS.
For the Controller’s team, this position oversees key financial and accounting functions including accounting operations, financial reporting, revenue analysis and reimbursements, payroll, accounts payable, capital assets management, investment accounting, gifts and restricted funds accounting, benefit plan accounting, financial systems security, external and regulatory reporting including Medicare and Medi-Cal Cost Reports and OSHPD reports, tax reporting and filings including federal and state income taxes, sales and use taxes, property taxes and others such as escheatment returns for all states that are applicable. This position is responsible for protecting and safeguarding the assets of the organization by ensuring the integrity of financial statements, the accuracy of financial reporting, adequacy of internal controls, and compliance with laws and regulations.
Additionally, this position is responsible for overseeing the efforts of the DSS team including benchmarking, operational reporting, management reporting, measuring trends, budgeting, financial analysis, revenue modeling and cost accounting, preparation of business plans, survey responses and other financial activities.
This position is also responsible for overseeing the management of all financial processes, internal controls and systems related to PeopleSoft general ledger, accounts payable, payroll and the relationship with our partner, ADP, capital and project expense tracking, fixed assets, and restricted funds and gifts and our cost accounting system. This position attends and presents to the Board of Directors Audit Committee and Finance Committee. This position also serves as a voting member of the Retirement Committee which reports to theBoard of Directors' Finance Committee. This position is also responsible for preparing, coordinating and reviewing materials and meeting minutes for the Board of Directors Audit Committee and Finance Committee. This position makes presentations to Senior Management, Officers and Directors of the company, when required and is a voting member of the Capital Committee.
The essential functions listed are typical examples of work performed by positions in this job classification. They are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Employees may also perform other duties as assigned. Employees must abide by all Joint Commission Requirements including but not limited to sensitivity to cultural diversity, patient care, patients rights and ethical treatment, safety and security of physical environments, emergency management, teamwork, respect for others, participation in ongoing education and training, communication and adherence to safety and quality programs, sustaining compliance with National Patient Safety Goals, and licensure and health screenings. Must perform all duties and responsibilities in accordance with the Service Standards of the Hospital(s).
Direct the development of accounting and financial policies and procedures:
- Oversee the establishment, development and monitoring of all accounting and financial policies for LPCH.
- Manage the development of policies and procedures to ensure proper accounting and internal controls within the organization.
- Manage the financial risks by monitoring and development of appropriate controls and management tools.
- Oversee the development of cash handling policies to ensure effective internal controls over cash, credit cards and banking transactions.
- Support financing activities, including tax-exempt bond issuance, debt compliance, monitoring and reporting.
- Review and approve quarterly and annual bond compliance reports to all stakeholders as required.
- Make effective recommendations for business, investment and debt financing decisions.
- Manage the establishment of capital assets policies and procedures and monitor compliance.
- Support the CFO in the management of financial and operating performance of LPCH to improve bond rating.
Management of all financial processes and systems related to PeopleSoft GL, A/P, Payroll, Capital Projects, Fixed Assets, Restricted funds and Gifts:
- Directs and provides guidance on daily systems operational issues.
- Establishes goals and objectives, plans and implements appropriate activities to accomplish objectives.
- Oversees the planning and implementation of all upgrades and maintenance of the financial systems.
- Includes timeline planning, co-ordination of resources, testing and go live planning.
- Prepares business plans and requests for proposals for new systems needs related to financial systems.
- Evaluates business processes to determine areas that can be automated.
Oversee Accounting Operations and Financial Reporting:
- Oversee the accounting operations that include general accounting, financial reporting, external reporting, funds accounting, and accounts payable.
- Oversee all inter-entity financial and accounting matters and issues between LPCH, Stanford University, SoM, SHC, PCHA and PMG. Oversee all investment accounting issues and fund accounting issues related to gifts and restricted funds.
- Oversee and monitor the reserves related to A/R, Cost Reports, self-insurance reserves, professional liability reserves, and legal reserves.
- Oversee financial reporting to ensure compliance with Financial Accounting Standards Bulletins (FASB).
- Oversee the monthly, quarterly and annual financial closes for LPCH and its subsidiaries.
- Review and approve the issuance of monthly financial package to senior management including CEO, CFO and COO.
- Provide expertise and consultation on complex accounting, audit and tax issues.
- Review and approve the issuance of consolidated financial statements of quarterly LPCH and its subsidiaries.
- Ensure that management reports in PeopleSoft are provided to all cost center managers in a timely manner on a monthly basis.
Oversee and implement an effective training program to all PeopleSoft GL users:
- Ensure that an effective training program is provided for all PeopleSoft users of financial systems.
- Ensure that PeopleSoft application security for accounts payable, GL, asset management, fund accounting and payroll systems are functioning effectively.
- Oversee internal and accounting controls related to PeopleSoft systems.
- Oversee the design and development of PeopleSoft accounting reports including budget variance reports.
Oversee the capital asset management process:
- Manage the establishment of capital assets and policies for LPCH.
- Review periodic actual to budget Capital Asset reports for the Capital Committee.
- Coordinate with CIO and other VPs to ensure expenditures and commitments are recorded properly in compliance with financial reporting standards.
- Provide training to management and other VPs on asset capitalization policies and capital expenditure policies.
- Work with other VPs to safeguard company assets and ensure proper accounting controls over asset management.
Oversee the management of the relationship and interactions with external auditors including financial statement audits, and other regulatory audits including tax audits and cost report audits:
- Work with external audit firm to ensure that financial statement audits are completed on time as scheduled for LPCH and its subsidiaries in order to meet the Stanford University deadlines.
- Ensure that the department has devoted resources to meet the cost report audit requests/requirements and other regulatory audit requests/requirements timely.
Oversee the Payroll Operations, and Payroll Tax Reporting for LPCH, PCHA and PMG:
- Oversee the payroll operations for over 3,100 LPCH and 300 PCHA and PMG employees.
- Oversee the payroll tax reporting and filings for LPCH, PCHA and PMG.
- Manage the establishment and implementation of all payroll policies and procedures.
- Oversee the payroll process to ensure that all employees are paid timely and accurately.
Oversee the revenue and reimbursements function of the hospital and clinics:
- Manage the revenue and reimbursement function to ensure that the hospital and clinics revenues are reported accurately and timely.
- Oversee the financial reporting related to revenue, contractual allowances and bad debts.
- Oversee the revenue accounting and analysis of expected and actual revenue and contractual allowances for all payors including managed care, Medicare, Medi-Cal, commercial, and self pay payors.
- Oversee the regulatory filings and reporting of Medicare and Medi-Cal Cost Reports, OSHPD reports, and other required federal and state filings.
- Monitor the policies and procedures governing the reporting of Graduate Medical Education and Intern Medical Education FTE counts to ensure accurate cost reporting.
- Oversee the financial impact analysis as a result of changes in regulations related to reimbursements.
- Oversee the handling of external audits by Medicare, Medi-Cal and other government agencies.
Oversee the operations of the DSS team, including:
- Review processes to monitor and measure the trends in an operational or functional area. Review compilation and analysis of key performance indicators for the entity in relations to comparable organizations and annual targets.
- Oversee the annual operating and capital budget and long-range plan preparation process and review outputs.
- Oversee the business plan development process and review outputs.
- Oversee revenue modeling and cost accounting processes.
- Oversee the department to ensure achievement of functional and budget/financial goals
- Understand coordination with Information Technology (IT) department on projects and transmission of data.
- Ensure financial records systems are maintained in accordance with generally accepted auditing standards.
- Ensure that policies and procedures are in place for the preparation, maintenance and control of hospital's budgetary, accounting and related fiscal activities to ensure compliance with current legislation and regulations.
- Oversee process for financial transaction analysis providing financial adjustments required to resolve outstanding financial transactions, if any; provides guidance in the development of financial/operational analysis of hospital/clinical programs; review complex financial reports and analyses.
- Work closely with operational personnel to understand and ensure operational financial issues are documented.
Serve as a staff in the Board of Directors' Audit Committee and Finance Committee:
- Attend the Board of Directors' Audit Committee and Finance Committee meetings on a quarterly basis.
- Support the CFO in the development of a long term financial strategy for LPCH.
- Support the CFO in making presentations to the Board of Directors, Audit Committee and Finance Committee meetings.
- Prepare and coordinate materials for the Board of Directors' Audit Committee and Finance committee meetings.
- Serve as a voting member of the Retirement Committee which reports to the Board of Directors' Finance Committee.
- As a voting member of Retirement Committee member, perform fiduciary responsibilities required to oversee the benefit plan liabilities administration, investment policy, funding strategy and policies, accounting and benefit plans issues.
Tax Reporting and Filings to regulatory agencies:
- Oversee all Federal, State and Local Tax reporting and filings to regulatory agencies including IRS, State Board of Equalization, and other Federal and State agencies including OSHPD.
- Ensure all annual and quarterly tax returns and filings are done timely and correctly for Federal and State returns including Exempt Organization Returns, Unrelated Business Income, Payroll Tax returns, Sales and Use Tax Returns, and Property Tax Returns for all of the facilities for LPCH.
- Work with Legal and external auditors on complex tax matters and tax reporting issues.
- Provide consultation on tax issues related to executive compensation, reimbursements, imputed income issues and deferred executive compensation.
- Oversee the conduct of all tax audits related to sales and use tax, property tax, payroll tax and other audits and manage the relationship with external auditors.
- Review and approve all tax returns including Federal and State Returns prior to filings with the regulatory agencies.
Any combination of education and experience that would likely provide the required knowledge, skills and abilities as well as possession of any required licenses or certifications is qualifying.
Education: Master's degree in accounting or finance or related field (or CPA, see below)
Experience: Ten years of combined accounting, audit, tax, finance management, treasury, and controller experience
Knowledge, Skills, and Abilities
These are the observable and measurable attributes and skills required to perform successfully the essential functions of the job and are generally demonstrated through qualifying experience, education, or licensure/certification.
- Able to identify and analyze financial risk exposure
- Able to work with senior management, Officers, and various department managers
- Excellent leadership, organizational, problem-solving and management skills
- Have strong knowledge in budgeting and financial modeling
- Have the ability to make presentations to Senior Management, Officers, and to the Board of Directors'committees, when required
- Knowledge of Microsoft office applications and related software applications
- Possess solid understanding of complex business processes and accounting standards
- Proficient accounting knowledge and able to apply Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Bulletins (FASB)
- Requires an in depth understanding of the functionality of business systems and the ability to analyze business processes
- Significant management experience and knowledge of accounting and payroll operations and related accounting processes
- Strong verbal and written communication skills
Lucile Packard Children’s Hospital Stanford strongly values diversity and is committed to equal opportunity and non-discrimination in all of its policies and practices, including the area of employment. Accordingly, LPCH does not discriminate against any person on the basis of race, color, sex, sexual orientation or identity, religion, age, national or ethnic origin, political beliefs, marital status, medical condition, genetic information, veteran status, or disability. Women and men, members of all racial and ethnic groups, people with disabilities, and veterans are encouraged to apply.