Chief Financial Officer - Department of Laboratory Medicine

Position description
The Chief Financial Officer – Department of Laboratory Medicine and Pathology (DLMP) / Mayo Collaborative Services, LLC (MCS) reports to the Mayo Clinic Chief Financial Officer and receives direction from the President and Senior Vice President of MCS. He/she collaborates with peers within the department of finance (other site CFOs and shared services leaders), as well as DLMP practice and administrative leaders. The CFO will have regular interactions with site based and enterprise committees, providing strategic and performance based updates and seeking the advice and counsel of members and other stakeholders. He/she will directly or indirectly lead a team of finance professionals.

The CFO-DLMP/MCS is the Strategic Finance Leader for DLMP and MCS, a member of the senior administrative team and is responsible for financial direction and oversight of laboratory operations with annual revenues exceeding $1.2 billion dollars. The CFO-DLMP/MCS is also a member of the Finance Leadership Team and the Finance Operations Team. He/she will collaborate with physician and administration leaders throughout Mayo Clinic to identify, lead and support strategic DLMP-MCS activities and change initiatives. He/she serves as a strategic partner, catalyst and advisor to the President and Senior Vice President of MCS, pro-actively advising on relevant internal and external environmental factors that could affect financials in the short and long-term. The CFO-DLMP-MCS actively participates and influences DLMP-MCS planning and decision-making, leveraging their financial expertise and knowledge of best practices. The CFO-DLMP-MCS focuses on efficient and effective delivery of financial service for the Department of Finance and MCS Business Analysis shared services functions supporting DLMP-MCS and acts as a catalyst for change to ensure the needs of the DLMP-MCS leaders are being met or exceeded. In addition to being a finance leader, he/she will be a true people leader, focused on developing the workforce of the future, accelerating performance through clear expectations and goal setting, and ensuring that career conversations, succession planning and development plans are embedded in the way we do our work. Direct reports may include a team of analysts that will form an Office of the CFO and support future oriented financial planning and analysis. In addition to this team of direct reports, the CFO-DLMP-MCS is accountable for indirectly overseeing administrative staff.

Some of the more specific CFO activities and responsibilities include advising DLMP-MCS leaders on operating and capital budgets, leading the month-end and quarter-end financial close activities, collaborating with finance service line leaders on performance and service improvements (revenue cycle, supply chain, revenue strategy and innovation, and financial and accounting services), coordinating service line activities, and advising DLMP-MCS leadership in strategic and change oriented initiatives to effectively prepare for the future.

In addition to the CFO responsibilities, this position will be responsible for driving performance improvement within DLMP-MCS, including leading the financial assessment of the identified area for improvement, developing strategies and projections, identifying “quick wins”, establishing the go-forward operating model, implementation, governance and on-going monitoring. This position will utilize and teach process improvement techniques, such as LEAN/Six Sigma.
License or certification
Bachelor’s degree and a minimum of ten years of finance experience; 10 or more years of which must be in successive leadership roles across multiple assignments. Experience working in financial leadership roles within a laboratory/diagnostics organization required.

Master's degree in business or healthcare administration, in addition to experience working with physician leaders is preferred. Strategic and visionary thinker, change agent, keen judgment, conceptual analysis and planning skills; skilled in building relationships, developing individuals and working as a part of team; demonstrated ability to achieve results and performance improvement focused; excellent verbal and written communication skills; sound business and fiscal knowledge; strong customer focus. Must be strong at leading without controlling and able to build consensus. High integrity as evidenced by valuing all people and groups. Demonstrated ability to manage within a matrix, committee-oriented environment. Basic knowledge of Mayo Clinic, Mayo Clinic Health System and broad knowledge of the laboratory industry; appreciates the clinical nature of Mayo Clinic (versus a solely financial perspective). Ability to articulate the dynamic requirements of a future-oriented, successful finance organization and advocate accordingly. Has a well-established network of colleagues throughout the finance and laboratory industry.
Benefits eligible
Full Time
Site description
Mayo Clinic is located in the heart of downtown Rochester, Minnesota, a vibrant, friendly city that provides a highly livable environment for more than 34,000 Mayo staff and students. The city is consistently ranked among the best places to live in the United States because of its affordable cost of living, healthy lifestyle, excellent school systems and exceptionally high quality of life.
Administration, Business, Finance, Clinical Labs and Research
Career profile
Job posting number
David Binder
Equal opportunity employer
Mayo Clinic is an equal opportunity educator and employer (including veterans and persons with disabilities).