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Paul Rice is a seasoned financial professional with 31 years of experience in financial management, accounting, and auditing. He has held leadership positions in various organizations, including Director of Finance and CFO. Rice has expertise in financial reporting, variance analysis, accounting, and revenue cycle management. He is certified as a Certified Financial Planner (CFP) and holds a New York State Life Accident and Health License.

Credentials

  • Certified Financial Planner (CFP)
    -
  • New York State Life Accident and Health License
    -

Experience

    • Director of Finance
      • Jun 2001 - Jun 2016

      Director of FinanceDirect the entire financial and accounting operations for Baptist Health System’s multiple business segments, which generate annual revenues of more than $30 million. Responsible for financial statements, P&L, cash-flow analysis, banking and insurance relationships, and all financial reports. Manage 5 members of accounting staff. Participate in strategic planning, including expense forecasting and cash-management / investment strategies. Serve as plan administrator for Baptist Health System’s retirement plans. Negotiate contracts with various HMOs. Act as corporate liaison with lenders and auditors, including Office of Medicaid Inspector General, independent auditors, NYS Department of Labor, and IRS. Negotiate rates for health benefits, workers’ compensation, disability policies, and other insurances for Baptist Health System’s 600+ employees. Report directly to CEO. • Proposed $14 million expansion project for Baptist Health Enriched Housing Program, a 72-bed assisted-living facility opened in November 2013; acquired bank financing and DOH licenses. • Provided financial data and accounting expertise to support $7 million expansion project for 82 long-term-care beds at Baptist Health Nursing and Rehabilitation Center. • Played instrumental role in converting 401(k) program from company-directed, profit-sharing plan to employee-directed program. • Successfully processed Medicaid appeal for Baptist Health System to receive $9 million in funding, which is recognized as the only long-term-care facility in New York state to receive a Medicaid approval of this type. • Refinanced $4 million HUD mortgage in 2012 (reduced interest rate from 5.7% to 2.7%, saving 3% annually) and refinanced $8 million HUD mortgage in 2005 (lowered interest rate from 8.5% to 5.7%, saving 3% annually). • Purchased a for-profit temporary staffing agency, which generated new revenues and expanded services.

    • Account Manager/Accountant
      • Jan 1985 - Jun 2001

      Responsible for the daily operations and management of the entire business office including budgeting, required reporting, accounts receivable, payroll and accounts payable. Provided support to Director of Finance.

Education

  • 1980 - 1984
    Siena College

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Industry Focus. “Financial Services”

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