State of Colorado
Chief Financial Officer (CFO)
The Department of Health Care Policy & Financing welcomes your interest in the Chief Financial Officer (CFO) position. This position is responsible for statewide fiscal leadership, strategic policy impact, and executive authority over multiple divisions comprising the Department’s financial and compliance infrastructure. The CFO is the Department’s highest fiscal authority, reporting to the Executive Director.
The CFO operates within one of the most complex fiscal environments in state government, requiring simultaneous understanding of federal healthcare financing rules, state budget processes, and Medicaid operational systems.
Due to the State’s current hiring freeze, this position will not be filled until after January 1, 2026.
Responsibilities In This Position Include
Leads the Finance Office in advancing the Department’s fiscal mission and ensuring stewardship of approximately $20 billion in state and federal funds.
Provides executive leadership to the Finance Office divisions including Budget, Controller, Provider Reimbursement, Managed Care Rates, Payment Reform, Special Financing, and Audits and Procurement.
Directs the development and execution of the Department’s financial strategy, ensuring fiscal sustainability, equity, and alignment with the Governor’s, Executive Director’s, and legislature’s priorities.
Guides enterprise‑level financial risk management, internal controls, and compliance with federal and state fiscal requirements.
Represents the Department before stakeholders, state and federal officials, providing authoritative fiscal counsel and negotiating complex funding and policy issues affecting the Colorado Medicaid enterprise.
Leads the Finance Office’s management team in fostering a culture of integrity, accountability, and continuous improvement; advances workforce planning and leadership development.
Directs the formulation, justification, and execution of the Department’s annual budget and multi‑year financial plan.
Leads the development of data‑driven forecasts, fiscal models, and budget‑balancing strategies to promote financial integrity and program sustainability.
Provides membership caseload, claim cost trend, and administrative cost insights and forecasting to the Executive Director throughout the year.
Oversees collaborative efforts with the Department Executive Leadership Team to identify and quantify budget reduction opportunities necessary to reduce Medicaid trends.
Provides executive direction for collaboration with the Office of State Planning and Budgeting, the Joint Budget Committee, and legislative analysts.
Provides executive oversight of provider fee‑for‑service rate setting, managed‑care rate development, and value‑based payment models.
Directs development of actuarially sound rates and reimbursement methodologies in compliance with federal standards and state fiscal policy.
Leads integration of fiscal and policy objectives to improve provider access, promote equity, and incentivize value‑based care.
Guides implementation of Medicaid Provider Rate Review Advisory Committee recommendations and ensures completion of required analyses.
Oversees the Department’s Controller and Accounting functions to ensure fiscal integrity, transparency, and compliance with State Fiscal Rules and federal requirements.
Directs preparation and submission of all mandated financial reports, including CMS‑37, CMS‑64, and related federal filings.
Provides executive leadership for Audits and Procurement Division, ensuring fiscal accountability, compliance, and transparency across all departmental activities.
Directs the Department’s External Audits function, managing all state, federal, and third‑party audits and ensuring timely, accurate, and defensible responses.
Minimum Qualifications
Experience Only: 12 years of progressive leadership and direct staff management, including experience leading multiple functional teams, progressive responsibility in financial administration (budget process, strategic financial planning, forecasting, standards development, federal reporting), and execution of multimillion‑dollar budgets.
Education and Experience: Bachelor’s degree in accounting, finance, economics, public policy, business administration, higher education, management or a closely related field & 8 years of progressive leadership and direct staff management including the above experience.
Preferred Qualifications And Highly Desirable Competencies
Master’s degree in business, public administration, finance, or accounting.
Professional experience in:
Medicaid budget and/or policy analysis.
State of Colorado fiscal and procurement rules, including experience with state accounting and procurement systems.
Advanced policy and finance issue management.
Monitoring work activity, improving efficiency.
Mentoring, developing, and motivating staff.
Independent and team work.
Stakeholder relationship maintenance.
Consensus building for competing interests.
Evaluating complex information, initiative in collaborative problem solving.
Effective communication (written, verbal, presentation) in political environment.
Professional knowledge of:
Colorado’s Medicaid program.
Colorado’s budget and legislative processes, state finances, administration and allocation of funds, budgeting.
State statutes, rules, policies, procedures, guidelines, and procurement systems.
Proven executive communication skills – verbal, written, presentation, interpersonal.
Independent initiative, judgment, and responsibility in dealing with governors, state agencies, federal agencies, counties and other entities.
Definition of Professional Experience Professional experience is defined as experience that may include: independent judgment and discretion in performing work duties, a level of specialized knowledge, in-depth work requirements such as data gathering, analysis and interpretation, customer service across a broad range of individuals including key personnel, and/or individual accountability for results.
Conditions of Employment
Positions are security sensitive and require a criminal record background check including a credit check as part of the selection process.
Employees who have been disciplinary terminated, resigned in lieu of disciplinary termination, or negotiated their termination must disclose this information on the application.
Supplemental Information How to Apply Your application will be reviewed against the minimum qualifications. If your application demonstrates that you meet the minimum qualifications, you will be invited to the comparative analysis process described below.
A Complete Application Packet Must Include
A completed State of Colorado application.
Response to supplemental questionnaire.
Comparative Analysis Process The process primarily reviews applications against the minimum and preferred qualifications. Applicants will be notified of status via email. Failure to submit properly completed documents by the closing date will result in rejection.
ADAAA Accommodations and Equal Opportunity The State of Colorado believes that equity, diversity, and inclusion drive our success and encourages candidates from all identities, backgrounds, and abilities. The State of Colorado is an equal‑opportunity employer committed to building inclusive, innovative work environments and providing employment opportunities without regard to protected status. The Department will assist individuals with disabilities with reasonable accommodation requests.
ADAAA Coordinator:
Anupreet "Minnie" Kaur, anupreet.kaur@state.co.us
Visa Status The Department of Health Care Policy & Financing does not offer sponsored visas for employment purposes.
Seniority Level
Not Applicable
Employment Type
Full‑time
Job Function
Finance and Sales
Location: Denver, CO Salary: $140,000.00–$160,000.00
Referrals increase your chances of interviewing at State of Colorado by 2x.
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The CFO operates within one of the most complex fiscal environments in state government, requiring simultaneous understanding of federal healthcare financing rules, state budget processes, and Medicaid operational systems.
Due to the State’s current hiring freeze, this position will not be filled until after January 1, 2026.
Responsibilities In This Position Include
Leads the Finance Office in advancing the Department’s fiscal mission and ensuring stewardship of approximately $20 billion in state and federal funds.
Provides executive leadership to the Finance Office divisions including Budget, Controller, Provider Reimbursement, Managed Care Rates, Payment Reform, Special Financing, and Audits and Procurement.
Directs the development and execution of the Department’s financial strategy, ensuring fiscal sustainability, equity, and alignment with the Governor’s, Executive Director’s, and legislature’s priorities.
Guides enterprise‑level financial risk management, internal controls, and compliance with federal and state fiscal requirements.
Represents the Department before stakeholders, state and federal officials, providing authoritative fiscal counsel and negotiating complex funding and policy issues affecting the Colorado Medicaid enterprise.
Leads the Finance Office’s management team in fostering a culture of integrity, accountability, and continuous improvement; advances workforce planning and leadership development.
Directs the formulation, justification, and execution of the Department’s annual budget and multi‑year financial plan.
Leads the development of data‑driven forecasts, fiscal models, and budget‑balancing strategies to promote financial integrity and program sustainability.
Provides membership caseload, claim cost trend, and administrative cost insights and forecasting to the Executive Director throughout the year.
Oversees collaborative efforts with the Department Executive Leadership Team to identify and quantify budget reduction opportunities necessary to reduce Medicaid trends.
Provides executive direction for collaboration with the Office of State Planning and Budgeting, the Joint Budget Committee, and legislative analysts.
Provides executive oversight of provider fee‑for‑service rate setting, managed‑care rate development, and value‑based payment models.
Directs development of actuarially sound rates and reimbursement methodologies in compliance with federal standards and state fiscal policy.
Leads integration of fiscal and policy objectives to improve provider access, promote equity, and incentivize value‑based care.
Guides implementation of Medicaid Provider Rate Review Advisory Committee recommendations and ensures completion of required analyses.
Oversees the Department’s Controller and Accounting functions to ensure fiscal integrity, transparency, and compliance with State Fiscal Rules and federal requirements.
Directs preparation and submission of all mandated financial reports, including CMS‑37, CMS‑64, and related federal filings.
Provides executive leadership for Audits and Procurement Division, ensuring fiscal accountability, compliance, and transparency across all departmental activities.
Directs the Department’s External Audits function, managing all state, federal, and third‑party audits and ensuring timely, accurate, and defensible responses.
Minimum Qualifications
Experience Only: 12 years of progressive leadership and direct staff management, including experience leading multiple functional teams, progressive responsibility in financial administration (budget process, strategic financial planning, forecasting, standards development, federal reporting), and execution of multimillion‑dollar budgets.
Education and Experience: Bachelor’s degree in accounting, finance, economics, public policy, business administration, higher education, management or a closely related field & 8 years of progressive leadership and direct staff management including the above experience.
Preferred Qualifications And Highly Desirable Competencies
Master’s degree in business, public administration, finance, or accounting.
Professional experience in:
Medicaid budget and/or policy analysis.
State of Colorado fiscal and procurement rules, including experience with state accounting and procurement systems.
Advanced policy and finance issue management.
Monitoring work activity, improving efficiency.
Mentoring, developing, and motivating staff.
Independent and team work.
Stakeholder relationship maintenance.
Consensus building for competing interests.
Evaluating complex information, initiative in collaborative problem solving.
Effective communication (written, verbal, presentation) in political environment.
Professional knowledge of:
Colorado’s Medicaid program.
Colorado’s budget and legislative processes, state finances, administration and allocation of funds, budgeting.
State statutes, rules, policies, procedures, guidelines, and procurement systems.
Proven executive communication skills – verbal, written, presentation, interpersonal.
Independent initiative, judgment, and responsibility in dealing with governors, state agencies, federal agencies, counties and other entities.
Definition of Professional Experience Professional experience is defined as experience that may include: independent judgment and discretion in performing work duties, a level of specialized knowledge, in-depth work requirements such as data gathering, analysis and interpretation, customer service across a broad range of individuals including key personnel, and/or individual accountability for results.
Conditions of Employment
Positions are security sensitive and require a criminal record background check including a credit check as part of the selection process.
Employees who have been disciplinary terminated, resigned in lieu of disciplinary termination, or negotiated their termination must disclose this information on the application.
Supplemental Information How to Apply Your application will be reviewed against the minimum qualifications. If your application demonstrates that you meet the minimum qualifications, you will be invited to the comparative analysis process described below.
A Complete Application Packet Must Include
A completed State of Colorado application.
Response to supplemental questionnaire.
Comparative Analysis Process The process primarily reviews applications against the minimum and preferred qualifications. Applicants will be notified of status via email. Failure to submit properly completed documents by the closing date will result in rejection.
ADAAA Accommodations and Equal Opportunity The State of Colorado believes that equity, diversity, and inclusion drive our success and encourages candidates from all identities, backgrounds, and abilities. The State of Colorado is an equal‑opportunity employer committed to building inclusive, innovative work environments and providing employment opportunities without regard to protected status. The Department will assist individuals with disabilities with reasonable accommodation requests.
ADAAA Coordinator:
Anupreet "Minnie" Kaur, anupreet.kaur@state.co.us
Visa Status The Department of Health Care Policy & Financing does not offer sponsored visas for employment purposes.
Seniority Level
Not Applicable
Employment Type
Full‑time
Job Function
Finance and Sales
Location: Denver, CO Salary: $140,000.00–$160,000.00
Referrals increase your chances of interviewing at State of Colorado by 2x.
#J-18808-Ljbffr