Job Description
Purpose: to support the improvement of the hospital’s financial systems and processes to enable enhanced reporting and management decision making.
Reporting to the Hospital Director, s/he will be a member of the hospital senior management team and will be the head of finance and administration. The CFO is expected to be proactive and collaborative, working closely with the hospital senior management team and all other members of the hospital staff to advance the hospital’s strategic plan and related initiatives and operations.
Key Responsibilities are:
1. Works with the hospital CEO, senior management team and hospital board to develop sound financial goals and objectives for the hospital.
2. Provides proactive guidance regarding management of assets and future infrastructure investments by monitoring financial trends within the facility.
3. Works with department managers and administrative staff to implement financial plans and productivity benchmarks and monitors progress toward financial goals.
4. Works actively with hospital management towards enhanced performance assessments and promotes the growth of a team-oriented culture.
5. In conjunction with other senior administrative leaders works to implement and refine the existing five-year strategic financial plan for the hospital as part of the hospital’s strategic planning process.
6. Employs a system of responsible accounting, including budget and internal controls.
7. Ensures that monthly financial statements and bi-weekly productivity reports are distributed on a timely basis working closely with the hospital’s finance manger
8. Ensures that all balance sheet accounts are reconciled on a monthly basis and a system of internal controls are in place to facilitate a clean audit opinion.
9. Maintains a thorough working knowledge of Kenyan taxation laws and other government related financial requirements and obligations.
10. Maintains a thorough working knowledge of health insurance reimbursement (NHIF and private insurance schemes) payment methodologies, payment calculations, billing requirements and compliance issues. Building contacts and close relationships with NHIF regional and national leadership as well as with private insurance schemes.
11. Shows deep commitment to working with partner mission organizations that seek to prioritise services for the poor and needy in Kenya and surrounding countries.
12. Design and manage the implementation of effective patient financial services and maximizing cash flow consistent with sound credit and collection policies while maintaining good rapport with the community.
13. Review and keep up to date hospital insurance policies to ascertain that hospital assets are properly insured against loss and that the hospital’s liability coverage is maintained appropriately.
14. Monitors capital asset expenditures and depreciation; prepares annual operating budgets with input from the finance manager and involvement at the departmental level, as well as capital budgets and cash flow projections; arranges lines of credit and maintains proper banking relations, relationships with auditors and pension scheme advisors.
15. May oversee other administrative departments, as required, such as hospital transport, procurement, catering services and maintenance with the goal of improving efficiency and driving these departments to towards outcomes that are showing cost savings for the hospital. This work would involve close working relationships with department in charges.
Educational and Experience Requirements:
• Bachelor’s degree in accounting, or commerce or business administration
• Masters in Business Administration, Finance or a Healthcare Administration 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 twelve (12) years of experience out of which five (5) must have been in a senior management role in a similar healthcare organization.
• As a Mission Hospital with strong Christian values, it is essential that any candidate can show evidence of an active Christian faith and character references pointing to a history of working with integrity
• Must have knowledge in use of MS office packages, accounting softwares as well as ERP
• Knowledge of the NHIF program is a strong positive