Massachusetts Medical Society / The New England Journal of Medicine
December 21, 2017
Full Time - Experienced
4 Year Degree
As the organization’s senior financial executive, the VP for Finance / CFO provides high-level oversight for all financial activities of the Massachusetts Medical Society and the NEJM Group with experience that combines sound financial leadership with proven business effectiveness. As a member of the senior management group, the VP for Finance / CFO is responsible for the financial management of the organization to include strategic financial planning, budget analysis and management, financial modeling and reporting, cost benefit analysis, forecasting needs, accounting and treasury operations, partnerships and acquisitions, transaction structuring and negotiation, and investment strategies. Actively participates in Strategic Planning for the MMS and the NEJM Group and provides quality, meaningful analyses, and financial perspectives as necessary. Advises the Executive Vice President on all financial matters concerning the Society, its divisions, subsidiaries, and affiliates. Establishes and oversees implementation of appropriate internal systems and processes to ensure compliance with accepted accounting policies and practices. Monitors and evaluates the organization’s financial performance and recommends appropriate fiscal measures for achieving financial objectives and supporting growth. Presents financial information to the Board of Trustees and MMS committees as requested by the Executive Vice President. Oversees business matters pertaining to the organization’s real estate assets and headquarters building, including lease and purchase negotiations, property management, and conference services.
Serves as the organization’s senior financial executive and a member of the Society’s senior management group (SMG). Advises the Executive Vice President and provides guidance to the SMG regarding current and future financial considerations, participates in short- and long-term strategic planning sessions, and collaborates on developing and enhancing financial processes and systems.
Partners with the EVP and other senior leaders on operational and strategic issues and provide strategic recommendations based on financial analysis and projections, and revenue/expense analysis.
Ensures appropriate allocation of resources and effective execution of business and financial decisions. Oversees management of financial resources to ensure financial stability and achievement of organizational goals.
Collaborates with EVP and other senior leaders on developing the operating budget. Oversees long-term budgetary planning and cost management in alignment with the strategic plan.
Provides financial discipline and business decision support to evaluate long term and short term strategic business opportunities.
Work with the EVP and Officers and other senior managers on the financial strategic vision including management and prioritization of organizational assets to support long term MMS strategic goals.
Participate in developing new business growth opportunities, specifically: assist the EVP and other senior leaders in identifying funding opportunities, partnerships or acquisitions. , Participate in the drafting of prospective programmatic budgets and the determination of cost effectiveness and ROI.
Directs and oversees all financial operations of the Massachusetts Medical Society, including treasury and cash management, asset investment, financial reporting and systems, accounting, budgeting, and taxes.
Oversees and leads strategic financial planning and analysis efforts. Directs development of internal systems to forecast organizational needs and report on financial results, and implementation of financial best practices.
Manages the Society’s investment portfolio, provides financial consultation on overall investment strategies, and makes appropriate recommendations to the Executive Vice President and the Committee on Finance.
Oversees business matters pertaining to the organization’s real estate assets and headquarters building, including lease and purchase negotiations, property and facilities management, and conference services.
Acts as senior liaison to the Committee on Finance with respect to corporate financial activities, working closely with the Executive Vice President as needed. Functions as primary liaison with financial consultants, auditors, and vendors.
Oversees management of Finance, Corporate Support Operations, and Purchasing departments, including hiring, evaluation, and development of staff.
A Bachelor’s or advanced degree in accounting or a finance-related field is required; an MBA preferred.
A minimum of ten years of directly related experience in a senior-level strategic role is required.
Must show demonstrated and proven success in managing a variety of financial functions within a complex organization and overseeing a range of financial disciplines.
Demonstrated experience providing leadership to an audit committee and board on financial matters, and facilitating with business transactions (e.g., acquisitions, partnerships) is essential.
Strong understanding of financial, accounting, and taxation requirements for a not-for-profit (501c) organization is necessary.
Expertise in accounting principles and in-depth knowledge of financial applications and enterprise resource planning (ERP) are necessary.
About Massachusetts Medical Society / The New England Journal of Medicine
The Massachusetts Medical Society is the statewide professional association for physicians and medical students. We are dedicated to educating and advocating for the patients and physicians of Massachusetts. We offer online CME courses and live events that award continuing medical education credits. The Society, under the auspices of NEJM Group, publishes the New England Journal of Medicine, a lea...ding global medical journal and web site, and NEJM Journal Watch alerts and publications covering 13 specialties.