Overview of the Role
The Director Finance and Planning is responsible for managing the financial actions of the hospital working closely with the hospital's finance manager. He/she is in charge of tracking cash flow, preparing and reviewing of budgets and tracking operational metrics (KPIs) as well as analyzing strengths/weaknesses in the institution's finances to propose corrective action plans when necessary and overseeing all aspects of its financial success as well as preparing accurate forecasts so that management can make informed decisions about future investments or cuts. He/she will perform effective risk management and plan for the hospital's financial strategy.
Main Duties and Responsibilities
Overseeing the daily activities of the finance department and ensuring that all major projects, month-end, and year-end reports are completed accurately and on time.
Maintaining accurate and complete financial records and participating in audits or reconciliations, as needed.
Assisting other departments as they develop strategies, establish objectives, and make decisions that could have a financial impact on the hospital.
Work in close cooperation with the CEO to ensure that an appropriate financial policy framework is in place to guide the financial decision making in terms of turnover, profit, costs and investment and forward planning.
Oversee prompt debt collection in the credit office and share the report with the CEO
Oversee claims management in the department to ensure we realize revenue from our services and control claims rejection.
Continually review the finance manuals and policy documents to ensure compliance with the strategy and the present challenges
Prepare accurate and up to date financial and management accounting information to facilitate the preparation of reliable reports, budgets, business plans and management decisions.
Design and manage the implementation of effective front office systems for admission and discharge of patients, proper recording and billing, collection of all monies due, and institution of appropriate recovery action on any outstanding debts.
Create and maintain good and effective working relations with banks, financial institutions, statutory bodies and key/leading corporate clients.
Co-ordinate the preparation of management and financial information..
Responsible for overall supervision and staff development in the finance department.
Resource mobilization through writing of proposals for identified projects and advising on viable projects and investments
Responsible for bank accounts and investments.
Establish and maintain effective control systems for the preparation of monthly, quarterly and year-end management and statutory accounts.
Implement capital expenditure projects and asset acquisitions and maintain an up to date assets register.
Develop work plan and budgets and oversee the execution of directorate work plan and budgets;
Maintain effective cash flow and treasury management.
Preparation of financial reports to board members, stakeholders, executives, and clients in formal meetings
Knowledge and Skills Required:
The jobholder must possess:
Master's in business administration, finance or related field;
Bachelor's degree in business administration, finance or related field;
Professional qualifications in CPA (K) ACCA, ACA or any other recognized professional accounting qualification;
Should be a member of ICPAK or equivalent internationally recognized professional body
Minimum seven (7) years of experience out of which five (5) must have been in a senior management role in a similar organization;
Experience in a hospital setup will be an added advantage