Director of Finance at King Faisal Hospital Rwanda (KFHR): (Deadline 27 March 2024)

POSITION

COMPETENCY REQUIREMENT

KEY RESPONSIBILITIES

No of POST

1. DIRECTOR OF FINANCE

EDUCATION AND EXPERIENCE 

• Education: A Bachelor’s degree in Finance, Accounting, Business Administration, or a related field is essential. Advanced degrees such as MBA or a Master’s in Finance provide added advantages.
• Professional Certification: Certified Public Accountant (CPA) or Association of Chartered Certified Accountants (ACCA) certification is a must-have.
• Experience:  Minimum of Eight (8) years of progressive financial management experience, with at least 5 years in a leadership or managerial role.

Skills and abilities:

• Leadership Skills:  Strong leadership abilities, including team management, mentoring, and fostering a culture of financial excellence within the finance department.
• Healthcare Finance Expertise:  Extensive knowledge and understanding of healthcare finance, including reimbursement methodologies, healthcare economics, and regulatory compliance within the healthcare industry.
• Strategic Planning: Proven experience in developing and executing financial strategies aligned with organizational goals, driving financial sustainability and growth.
• Regulatory Compliance: Thorough understanding of healthcare financial regulations, compliance standards, and reporting requirements.
• Financial Management: Proficiency in financial planning, budgeting, forecasting, and analysis, ensuring efficient utilization of resources and maximizing financial performance.
• Financial Reporting: Ability to generate accurate, timely, and comprehensive financial reports, providing insights for informed decision-making and regulatory compliance.
• Risk Management: Skillfulness in identifying and mitigating financial risks and implementing strategies to safeguard the hospital’s financial stability.
• Stakeholder Communication: Excellent communication and interpersonal skills to liaise with diverse stakeholders, presenting financial information and strategies effectively.
• Analytical Acumen: Strong analytical skills to interpret complex financial data, evaluate trends, and provide recommendations for improvements or optimizations.
• Ethical Standards: Commitment to upholding ethical standards in financial practices, ensuring transparency and integrity in all financial dealings.
• Change Management: Ability to adapt to evolving financial landscapes, embracing innovation and leading financial transformation initiatives within the hospital.

Key Responsibilities:                                     

1.     Team Leadership and Development:

• Manage finance department staff, providing guidance and mentoring to foster professional growth.
• Conduct performance evaluations; provide feedback, and support staff development and training initiatives.
• Provide ongoing coaching, mentorship, and performance evaluations to ensure staff effectiveness and productivity.
• Foster a collaborative and productive work environment.

2.     Inventory Management:

• o   Leads the hospital’s inventory management unit, overseeing the tracking, control, and optimization of inventory levels.
• o   Collaborate with supply chain and procurement teams to manage inventory costs and minimize wastage.
• o   Implement and enforce best practices for inventory management to support clinical operations.

3.     Financial Accounting:

• Direct the financial accounting team responsible for maintaining accurate and compliant financial records.
• Ensure adherence to international financial reporting standard (IFRS) and healthcare-specific accounting standards.
• Review and approve payments, refund and petty cash replenishment.
• Oversee the preparation of financial statements, management accounts, and other relevant reports in the finance division.

4.     Financial Planning and Analysis (FP&A):

• Develop and execute financial strategies and plans to achieve the hospital’s financial objectives.
• Conduct comprehensive financial analysis, including variance analysis, trend analysis, and forecasting, to provide actionable insights to senior management.
• Collaborate with division heads to develop and monitor divisions’ budgets.

5.     Reporting:

• Prepare comprehensive financial reports for internal and external stakeholders, including the hospital’s board of directors.
• Ensure compliance with regulatory reporting requirements and adhere to reporting deadlines.
• Present financial data and insights to senior leadership.

6.     Compliance and Regulatory Oversight:

• Ensure the hospital’s financial operations comply with all applicable laws, policies and regulations, and healthcare industry standards.
• Manage and coordinate with internal and external audits, responding to auditor inquiries and implementing audit and Board recommendations

7.     Collaboration with the Revenue Assurance Director:

• Work closely with the Revenue Assurance Director to align financial and revenue assurance strategies and initiatives.
• Collaborate on revenue cycle optimization, identifying opportunities to improve recovery and minimize revenue leakage.

8.     Cash Flow Management:

• Oversee the management of the hospital’s cash flow, including cash flow projections, investment strategies, and debt management.
• Implement policies and procedures to safeguard cash and optimize cash utilization.

9.     Cost Control and Expense Management:

• Identify opportunities for cost control and efficiency improvements across the hospital.
• Collaborate with department heads to analyze and optimize resource allocation

10. Financial Strategy and Planning:

• Provide financial expertise and insights to support the hospital’s strategic planning process.
• Assess the financial feasibility of strategic initiatives, capital projects, and expansion plans.

11. Other responsibilities

• Review and approve the monthly payroll.
• Review and approve computation and accuracy of all taxes.

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