Chief Financial Officer
California Health Benefit Exchange
“The mission of the California Health Benefit Exchange is to increase the number of insured Californians, improve health care quality, lower costs, and reduce health disparities through an innovative, competitive marketplace that empowers consumers to choose the health plan and providers that give them the best value.”
Our client, the California Health Benefit Exchange (Exchange), is seeking a Chief Financial Officer. The Exchange (www.hbex.ca.gov), established under the groundbreaking California Patient Protection and Affordable Care Act (CA-ACA), is the first health benefit exchange in the nation following the passage of the federal Patient Protection and Affordable Care Act, signed into law by President Obama in 2010. With the bipartisan support and commitment from California Legislature for the CA-ACA, California continued its leadership in the development of a Health Benefit Exchange. The Exchange is an independent public entity within state government with a five-member board appointed by the Governor and the Legislature. In 2011, the Exchange received a $39M federal grant to design, develop, and establish the Exchange which will serve millions of Californians. The vision of the Exchange is to improve the health of all Californians by assuring their access to affordable, high quality care.
As part of its ongoing mission, the Exchange will provide purchasers with a more stable risk pool, greater purchasing power, more competition among insurers and detailed information regarding the price, quality, and service of health coverage. It will also streamline access for individuals to programs that provide subsidies for health coverage. In addition, the Exchange will increase the number of insured Californians, improve health care quality, lower costs, and reduce health disparities through an innovative, competitive marketplace that empowers consumers to choose the health plan and providers that give them the best value. Beginning in 2014, the Exchange will allow individuals and small businesses to compare plans and buy health insurance on the private market.
The Chief Financial Officer for the Exchange will be under the general direction of the Executive Director and will have full responsibility for the Exchange’s financial systems and controls. This challenging and high impact position will also work closely with the Exchange Board and serve as the primary interface with Exchange stakeholders on all financial matters. The Director will be a strategic thinker, team-builder, innovator, and collaborator with an entrepreneurial mindset and strong verbal and written communication skills, who works effectively with diverse stakeholders, is composed and calm under pressure, and has a passion for the Exchange’s mission.
The expected first year outcomes for the Chief Financial Officer include:
Within 30 days:
1. To have identified and begun developing the financial systems of the Exchange that will ensure timely and accurate accounting of all income and expenses, and guard against fraud, embezzlement, waste, and abuse.
2. To lay the foundation for clear and accurate reporting and auditing of large levels of cash flow resulting from receipt of premium payments, government funds, corporate gifts, grants, and monies earmarked for the California Health Trust Fund.
Within 90 days:
3. To have developed effective working relationship with key state and federal partner organizations including State Department of Finance, Center for Consumer Information, and Insurance Oversight and the Internal Revenue Service.
4. To have identified the systems and resources necessary to ensure proper “checks and balances” are in place to reduce the risk of fraud and to guarantee that all government compliance requirements are properly met in a timely fashion, and an audit is conducted of the design of the CalHEERS system.
5. To have hired and trained staff and outside vendors to understand the mission and commitment of the Exchange and to help the organization with budgeting/forecasting, timely completion of expense reports, accurate reporting of financial information to the State and Federal authorities, plus supplying upper management with timely and accurate financial data.
6. To have developed a solid understanding of the various sources of revenue and expenses that the Exchange will encounter. Create systems that will continually monitor the expenses of the organization.
Within 180 days:
7. To have developed policies and procedures for collecting, processing, and tracking fees, and payments made to the Exchange.
8. To have developed and written the final draft of the financial systems and controls procedures and needed infrastructure to ensure the financial integrity of the Exchange, and prevent fraud.
9. To present to upper management the detailed consolidated report of expenditures, budget, and forecasted spending plan in concert with the various department heads.
10. To have established policies and procedures supporting and responding to external audits and inquires regarding expectations from external stakeholders and to satisfy government compliance requirements.
11. To have developed seamless and effective processes with health plans contracting with the Exchange.
Within 1 Year:
12. To have successfully implemented the financial systems and controls, both external and internal to the organization, to ensure that external accountability is in place to give the State and Federal government assurances that the Exchange is a cost-effective and transparent steward of the resources entrusted to the organization.
13. Have in place a well-trained staff that fully understands the need for cost effectiveness and transparency of operations.
14. To have developed effective revenue generation monitoring tools to ensure solvency of the California Health Trust Fund and its financial self-sufficiency over the long term.
We are seeking candidates with any combination of education, training, and experience which would demonstrate the ability to successfully perform these duties and achieve these expected outcomes. A typical way to demonstrate these qualifications would be as follows:
· Experience in development, design, and/or execution of an effective multi-billion dollar financial systems and controls program, in the public sector.
· Experience in developing and implementing checks and balance systems that will prevent fraud, abuse and other improprieties, and ensure timely and accurate financial reporting to upper management, outside auditors, and to government regulators.
· Understanding specifically the health coverage industry in California including service providers, health insurance companies, and the health insurance brokerage industry.
· Experience in managing relations with public sector and private sector agencies responsible for monitoring the operation of the Exchange, including the handling of large amounts of money from premium payments.
· Demonstrated ability to work effectively and provide leadership in a team-based, collaborative environment and to promote diversity.
· Experience working under demanding time pressure and under public scrutiny, while maintaining composure.
Our client is offering an exceptional opportunity to be at the forefront of national health care reform working in an organization committed to improving the health and health care of Californians. The compensation package includes a competitive salary commensurate with other state agencies, plus excellent medical and retirement benefits (including CalPERS). The position is located at the Exchange’s offices in Sacramento, California.
Pre-screened, selected candidates who most closely match the Candidate Profile will be invited to interview in Sacramento, California during the week of April 23, 2012. Finalists will need to be available on both dates.
For confidential consideration, we invite you to submit a cover letter summarizing what interests you about this position, your compensation history and expectations, plus a chronological resume no later than April 2, 2012 at 5:00 p.m. to the email address below.
Screening interviews will begin prior to the closing date and earlier submittals are appreciated.
Wilcox Miller & Nelson