Overview
Finance Head
About:
– Oversee overall financial management, business analysis, and reporting.
– Ensure ongoing viability and a secure financial future in accordance with the organisation’s charitable status, mission, and values.
– Manage, develop, and maintain all financial systems and internal controls.
– Provide advice and training to budget holders and staff on finance-related procedures, issues, and budgetary control.
– Advise the CEO, Steering Council, and Leader Council on financial strategy and its impact on the institution’s objectives; provide input on the realism of objectives given the financial situation.
– Participate in financial, human resources, and strategic planning.
– Assist the council in sourcing prospects for future income through analysis of financial trends and market opportunities.
Areas of Responsibilities
Strategic Planning
– Perform accurate and effective cost analysis to facilitate key business decisions.
Accounting Management
– Manage and consolidate accounts for all units at appropriate frequencies.
– Ensure the integrity and accuracy of all accounted transactions.
– Maintain up-to-date Management Information Systems; provide information to stakeholders.
– Monitor and control accounts receivable and payable; ensure they remain within acceptable norms and avoid write-offs.
– Present accounts at board, council, and other required meetings.
– Ensure control over budget versus actual expenditure.
Financial Management
– Plan to ensure availability of funds when required.
– Liaison with banks and financial institutions for banking and loan operations.
– Liaison with insurance companies and third-party agencies for claims submission and recovery.
– Receive monthly Finance Compliance Certificates and reconciliations from units.
– Provide accurate and timely reporting on financial activity of individual projects.
Procurement Management
– Ensure all assets are appropriately insured; maintain up-to-date policies to prevent over/under insurance.
– Maintain accurate records of fixed assets and ensure their availability.
– Oversee purchasing to ensure correct quantity, timing, and price.
– Participate as a member of the capital purchase committee.
Budget Preparation
– Facilitate preparation of unit budgets and compile the overall organizational budget.
– Establish guidelines for budget and forecast preparation; prepare annual budget with CEO and Steering Council.
– Coordinate with projects department for project budgets, expenditures, and budgetary control.
– Assist unit and project heads with preparing budgets for funding applications.
Risk Management
– Monitor risk management policies and procedures to minimize project and organizational risks.
– Advise leadership on appropriate insurance coverage.
– Negotiate lines of credit or other appropriate bank financial services.
Information Systems
– Maintain Tally and integration with Medics systems.
– Evaluate needs for new technology to meet financial data processing, control, and reporting needs.
– Advise Information Systems Department on suitable technology, considering financial resources and requirements.
Statutory Compliance
– Ensure compliance with applicable laws (e.g., Income Tax, Service Tax) for filing returns and payment of dues.
– Liaise with internal and statutory auditors during audits.
Candidate Requirements
– Chartered Accountant with minimum of 8-10 years of experience in accounting and finance.
– Experience in financial operations within the hospital industry; experience working in an effective accounts and finance function in a fast-paced environment.
– Thorough knowledge of computerized accounting systems such as Tally.
– Proven team player with experience managing a minimum of 5 direct reportees.
– Flexible and able to work collaboratively in a team environment.