Controller, Finance & Banking, Financial Compliance

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Full Time Professional Chicago, IL, US

Salary Range: $ To $ Annually

SUMMARY

Under the direction of the Chief Financial Officer (CFO), the Controller is responsible for the financial management, reporting, and internal controls of the hospital, ensuring accurate financial operations and compliance with regulatory and third‑party payor requirements. The Controller is responsible for general accounting, budgeting, payroll, accounts payable, financial reporting, and internal audits to maintain fiscal integrity and operational efficiency.

The Controller has a critical part in budget preparation, financial analysis, and monitoring revenue cycle trends, including third‑party payor reimbursements, contracts, and utilization trends. The Controller works closely with department leaders and medical staff to ensure financial strategies align with operational goals while supporting decision‑making on spending policies, grants, and business planning. Additionally, the Controller coordinates financial compliance activities, including year‑end tax filings, payroll reports, cost reports, and audits, ensuring adherence to regulatory requirements.

This position also provides leadership and mentorship to the finance team, ensuring efficient financial operations and high standards of performance.

ESSENTIAL DUTIES AND RESPONSIBILITIES
include the following. Other duties may be assigned

• Advising executive leadership on financial performance, growth opportunities, and third‑party reimbursement trends
• Assisting in finalizing budgets and exploring alternatives to maintain profitability
• Providing insights into fiscal, demographic, and market trends affecting reimbursement rates
• Leading initiatives to improve financial efficiency, reduce denials, and enhance collections from payors

Accounting, Cash Flow & Treasury Management

• Overseeing Accounts Payable, Payroll, and General Accounting functions
• Managing cash flow, financial assets, and considering reimbursement timelines from payors
• Ensuring accurate financial reporting and reconciliation of third‑party payments and contractual adjustments

Organizational Leadership & Team Development

• Directing and mentoring finance department staff on reimbursement best practices
• Providing training on financial tools, budgeting, and third‑party payor requirements
• Supporting executive decision‑making on financial impacts of operational changes and reimbursement shifts

Medical & Clinical Financial Integration

• Building relationships with medical staff to align financial and operational goals
• Collaborating on utilization review and physician utilization trends to optimize reimbursement
• Partnering with clinical leaders for financial forecasting, considering third‑party payor policies
• Supporting strategic financial planning for clinical operations and value‑based care initiatives

Budgeting, Forecasting & Performance Analysis

• Leading budget preparation, monitoring, and execution, including payor mix analysis
• Reviewing operational financial results and making data‑driven recommendations
• Directing financial modeling for new business opportunities, factoring in third‑party payor contracts
• Evaluating and prioritizing financial analysis requests related to reimbursement and payor negotiations
• Ensuring compliance with evolving reimbursement structures, including value‑based payments and risk‑sharing agreements
• Ensuring compliance with financial regulations and reporting requirements for third‑party payors
• Supervising internal audit functions to assess financial controls and reimbursement compliance
• Overseeing tax filings, payroll reports, third‑party…