Acting CHC financial chief steps down from the post

After more than a year of serving as interim chief financial officer of the Commonwealth Healthcare Corp., Cora Ada has stepped down from the position. She is expected to go back to her old post at the Emergency Preparedness Office.
Corporation board chair Joaquin Torres confirmed this with Saipan Tribune yesterday, saying this will take effect by the end of next month.

Saipan Tribune tried to obtain comments from both Ada and interim corporation CEO Esther Muña yesterday but they couldn’t be reached as of press time.

The corporation hasn’t had a permanent chief financial officer since Alvaro Santos resigned in 2012. Upon his departure, Ada was appointed by Muña as acting CFO. As such, she sits on the corporation’s “governing body” with other members that include Muña, Medical Affairs director Dr. Sherleen Osman, and Dr. Norman Okamura.

According to Torres, Ada made known her decision this week. When asked about her replacement, he said Muña has yet to inform the board about their next step.

“We don’t know yet who will replace her [Ada] because we haven’t got an answer yet from the CEO,” said Torres.

He reiterated yesterday the need to have a qualified CFO for the corporation and emphasized the vital role the individual will play in the financial goals of the agency.

Up to this date, no permanent CFO has been named to the post. The board intends to have one within a month or two.

At the Feb. 27 CHCC board meeting, members lambasted the corporation management for continuously submitting incomplete financial reports. The board highlighted the mandates of Public Law 16-51 that requires the periodic submission to the board of financial documents for its review.

At that same board meeting, Muña endorsed the hiring of a candidate from Hawaii to become the hospital’s CFO. She had said that she is convinced that the individual is capable of turning around the corporation’s financial situation because of the individual’s strong background in managing the finances of many healthcare systems in Hawaii.

Muña described the candidate as a retiree and might agree to come to the corporation on a special contract arrangement. Saipan Tribune learned that the candidate doesn’t have a master’s degree but possesses vast experience in handling the finances of healthcare systems.

Based on the job announcement made available for both local and off-island applicants, the corporation is proposing a two-year employment contract with a salary offer ranging from $100,000 to $150,000 per annum. The corporation received 32 applications.

Torres said yesterday there has been no update on the status of the hiring of a permanent CFO.