Nature of Duty: Full time
Purpose of the position: Financial control of the hospital
Qualification: CA (preferred) or BCom with MBA Finance
Minimum Experience: 15 years
The Head Finance supervises the finance unit and is the chief financial spokesperson for the organization. The CFO reports directly to the Chief Executive Officer (CEO); on audit and statutory matters related to financial management he reports directly to the Board. He works closely with the medical head and head HR on matters related to budget management, cost-benefit analysis, forecasting needs and the securing of new funding. He is responsible for the current and future financial health of the hospital.
Duties and Responsibilities:
- Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
- Work with the CEO on the strategic vision including fostering and cultivating stakeholder relationships on city, state, and national levels, as well as assisting in the development and negotiation of contracts.
- Participate in developing new business, specifically: assist the CEO in identifying new funding opportunities, the drafting of prospective programmatic budgets, and determining the cost-effectiveness of prospective service delivery.
- Assess the benefits of all prospective contracts and advise the Executive Team on design and implementation matters.
- Ensure adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
- Provide the CEO with an operating budget. Work with the CEO to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements.
- This includes: 1) interpreting legislative and programmatic rules and regulations to ensure compliance with all federal, state, local and contractual guidelines
- 2) ensuring that all government regulations and requirements are disseminated to appropriate personnel
- 3) monitoring compliance.
- Oversee the management and coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, reports to funding agencies, development and monitoring of organizational and contract/grant budgets.
- Oversee all purchasing and payroll activity for staff and participants.
- Develop and maintain systems of internal controls to safeguard financial assets of the organization and oversee federal awards and programs. Oversee the coordination and activities of independent auditors ensuring all audit issues are resolved, and all compliance issues are met, and the preparation of the annual financial statements is in accordance with national, state and other required supplementary schedules and information. He is responsible for instituting systems for the prevention of fraud, graft, revenue leakages and loss of financial opportunities.
- Monitor banking activities of the organization.
- Ensure adequate cash flow to meet the organization’s needs.
- Attend Board and Subcommittee meetings; including being the lead staff on the Audit/Finance Committee.