Vice President, Financial Risk Management

Vice President, Financial Risk Management

Join to apply for the Vice President, Financial Risk Management role at Boston Medical Center (BMC).

Job Summary Boston Medical Center Health System (BMCHS) is a ~$6 billion integrated academic health care system whose purpose is to transform the outcomes of low(er) income and vulnerable populations in Massachusetts, New Hampshire and beyond. Anchored by Boston Medical Center, BMCHS has evolved to encompass six major entities:
Boston Medical Center, Well Sense Health Plan, Boston University Medical Group, Boston Health Net (a network of community health centers), Boston Accountable Care Organization, and Clearway Health (a specialty pharmacy services provider). BMC Health System occupies a unique position in the MA and US healthcare landscape. Over 60% of clinical care is in (near) full risk arrangements, and there is a strong commitment to value based care, and to addressing the core health drivers (social determinants of health) in the communities that BMCHS serves.

BMCHS’s patients disproportionately come from communities of color, so BMCHS is deeply invested in addressing health inequities both within the organization, and in partnership with community organizations. Through Well Sense Health Plan, BMCHS covers over 40% of all Massachusetts’ Medicaid members in exclusive payer-provider partnerships with eight accountable care organizations. Lastly, BMCHS’s academic enterprise provides a strong foundation of talent to study and disseminate its experience and to shape the health system more broadly.

The Vice President (VP) of Financial Risk Management is a key member of BMCHS’s financial leadership team, reporting directly to the Chief Financial Officer. This executive provides strategic direction, oversight, and leadership for BMCHS’s treasury operations, enterprise risk management and oversight over the management of BMC’s investment portfolio. The VP plays a critical role in managing the system’s capital structure, optimizing balance sheet performance, and safeguarding the organization’s financial and operational health through effective risk mitigation strategies.

The leader will oversee the health system’s investment portfolios, debt strategy, banking relationships, and liquidity planning, investment management of our investment portfolio, including management of external vendor partners and board reporting on investment performance. The role requires a strategic thinker with deep financial acumen, strong leadership capabilities, and a commitment to upholding the mission and values of BMCHS.

• Lead the development and execution of BMCHS’s capital and debt strategies in alignment with organizational goals.
• Oversee cash management, investment policies, and short- and long-term liquidity planning.
• Manage banking relationships, investment consultants, and debt issuance, refinancing, and compliance.
• Evaluate financial market conditions to optimize capital structure and access to capital.
• Provide regular reporting and recommendations to the CFO and executive leadership regarding the organization’s balance sheet, financial risk exposures, and liquidity.

• Provide strategic oversight of BMCHS’s investment portfolios, including operating funds, endowments, and retirement plan assets.
• Serve as the primary liaison to external investment vendors; oversee performance, fees, and compliance with investment policy.
• Prepare and present investment performance updates and strategy recommendations to the Board.
• Regularly review and update investment policies to reflect evolving market conditions, organizational priorities, and fiduciary responsibilities.
• Lead internal investment governance process and ensure adherence to risk, liquidity, and allocation targets.

• Develop, lead, and mature an enterprise-wide risk management framework and risk governance model.
• Identify, assess, and monitor key financial, operational, and strategic risks across the organization.
• Partner with leaders across the health system to develop and implement risk mitigation strategies.
• Serve as…