FINANCE MANAGER (HOSPITAL)

JOB TITLE FINANCE MANAGER (HOSPITAL)

NATURE OF JOB FULL TIME

INDUSTRY HEALTHCARE

SALARY ATTRACTIVE

JOB LOCATION EMBU

DUTIES AND RESPONSIBILITIES

 Financial Reporting & Analysis:

·       Prepare accurate and timely monthly, quarterly, and annual financial statements in compliance with local accounting standards (IFRS/Kenya Accounting Standards).

·       Analyze financial performance and provide detailed insights to senior management regarding financial trends, variances from budget, and operational performance.

·       Prepare detailed financial reports, including balance sheets, income statements, and cash flow statements, ensuring these reflect the true financial position of the hospital.

·       Provide detailed explanations for variances in budget versus actual performance, identifying areas for potential cost savings or revenue enhancement.

Budgeting & Forecasting:

·       Lead the annual budgeting process, working closely with department heads to develop realistic and accurate departmental budgets aligned with the hospital's goals.

·       Review and monitor monthly budget performance, ensuring that departments are within budget and that corrective actions are taken where necessary.

·       Conduct regular financial forecasting to project future financial performance, adjusting budgets as required based on changes in hospital operations or external factors.

Cash Flow & Working Capital Management:

·       Ensure effective management of the hospital’s cash flow, ensuring that there is sufficient liquidity to meet day-to-day operational needs and long-term investment goals.

·       Oversee the management of accounts receivable and payable, ensuring the timely collection of outstanding debts and the timely payment of hospital expenses.

·       Monitor cash position daily and forecast future cash requirements to ensure there is adequate working capital for operations, payroll, and vendor payments.

Compliance & Risk Management:

·       Ensure compliance with all local tax laws and regulations, including the preparation and filing of tax returns (e.g., VAT, PAYE, Corporate Tax).

·       Work closely with external auditors during the annual audit process, ensuring that all required documentation and financial statements are accurate and submitted on time.

·       Implement and monitor internal financial controls to prevent fraud, financial mismanagement, and operational inefficiencies.

·       Stay current with changes in financial regulations, healthcare industry standards, and tax laws, ensuring the hospital's policies and practices are always in compliance.

Financial Strategy & Decision Support:

·       Work with the executive team to provide financial insights and support for decision-making processes related to new hospital projects, expansions, or service offerings.

·       Analyze capital investment opportunities, working with other departments to evaluate potential returns and financial risks.

·       Develop financial models and perform sensitivity analysis to support business decisions and long-term planning for the hospital’s growth and sustainability.

Team Leadership & Development:

·       Lead, mentor, and manage the finance department staff, ensuring the team is adequately trained, motivated, and equipped to meet the department’s goals.

·       Promote a collaborative working environment, encouraging ongoing professional development and continuous improvement of the finance team.

·       Conduct performance reviews and provide constructive feedback to staff, ensuring that targets and expectations are met and that the team’s performance is aligned with the hospital's objectives.

Hospital Operations Support:

·       Provide financial expertise to hospital department heads, helping them manage costs, analyze budget adherence, and make data-driven decisions regarding operational efficiency.

·       Advise on the financial implications of decisions in areas such as procurement, staffing, and service delivery.

·       Monitor the financial impact of patient care activities, including patient billing, insurance reimbursements, and pricing strategies for medical services.

External Stakeholder Management:

·       Establish and maintain strong relationships with external financial stakeholders, including banks, auditors, tax authorities, and regulatory bodies.

·       Liaise with insurance companies and government bodies on matters related to reimbursements, claims, and financial settlements.

·       Oversee the management of hospital contracts with suppliers and service providers, ensuring that terms are favourable and payment terms are met.

Technology & Systems Management:

·       Ensure that financial systems (e.g., ERP, accounting software) are up-to-date and effectively support hospital operations.

·       Lead initiatives for system upgrades or replacements, ensuring that financial reporting and accounting processes are efficient and aligned with best practices.

·       Ensure data security, accuracy, and confidentiality in financial systems, protecting the hospital’s sensitive financial information.

KEY REQUIREMENT SKILLS AND QUALIFICATION

·       Degree in Finance, Accounting, or related field, CPA K

·       Minimum of 8 years of experience in a similar finance management role

·       Experience in a hospital environment or healthcare sector is highly desirable

·       Strong knowledge of financial regulations and accounting standards

·       Excellent leadership, organizational, and communication skills

HOW TO APPLY

·       If you meet the above qualifications, skills and experience share CV on recruitment@britesmanagement.com

·       Interviews will be carried out on a rolling basis until the position is filled.

·       Only the shortlisted candidates will be contacted.