Beit-CURE Hospital Malawi
POSITION OVERVIEW:
To support the Finance Manager in ensuring the integrity of the hospital’s accounting information by recording, verifying, consolidating, and entering accounting transactions under GAAP accounting principles and ensuring accurate and timely financial reporting. The Accountant/Finance Officer plays a key role in managing financial operations, ensuring compliance with regulations, and providing accurate and timely financial reports. This position requires strong financial acumen, attention to detail, and the ability to work in a fast-paced healthcare environment. Ensure effective collection and accounting of the hospital’s revenue and facilitate the smooth running of the hospital activities by timely availing of requested cash and ensure proper accountability of the requested funds. This job is responsible for ensuring accurate, timely and complete recording and reporting of financial transactions of the Hospital.
ESSENTIAL DUTIES:
Budgeting and Forecasting
- Support the Finance Manager in the development and monitoring of the hospital’s annual budget.
- Collaborate with department heads to ensure accurate budget submissions.
- Support the Finance Manager in preparing financial forecasts and tracking budget variances.
- Monitor and control current expenditures to ensure that expenditures remain within available funding and approved budgets.
- Compiling departmental budgets and doing monthly budget variance analysis.
Financial Reporting
- Prepare and analyze financial statements, including income statements, balance sheets, and cash flow statements.
- Generate monthly, quarterly, and annual financial reports for hospital management and external stakeholders.
- Provide insights into financial trends and variances.
- Monthly Bank reconciliations by the 5th of the subsequent month.
- Daily reconciliation of cash collected and banked (Cash in safe account)
- Reconciliation and posting of Kitchen cash
- Handling, reconciling and posting of salary and work advance in the employee accounts
- Handling, posting and reconciliation of petty cash on daily basis
- Overseeing banking of cash and cheques on daily basis
- Post, track and reporting on all donor funds received e.g. IF, AO funding, CBM
- Responsible for posting of operational payments of the hospital in Odoo.
- Maintain and Update the fixed asset register.
- Help with preparation and timely management of payroll
- Ensure all Odoo balances are correct and true reflection of the hospital’s position.
- Monitor all bank accounts to ensure availability of enough funds to support all payments
- Reviewing all transaction posting by Finance Officers into the books of Accounts (electronic software books of Accounts)
- Provide review notes for postings returned to Finance Officers
- Produce and sign monthly bank reconciliation
- Production of monthly general ledger reconciliations for all Statement of Financial Position ledger Accounts.
- Lead the Finance Team in conducting of periodic stock and cash counts
- Reconcile stock count results with system balances, investigating any areas of difference
- Ensure that statutory payments and the filing of returns are done on time
- Review books of Accounts to ensure adequate provisions and accruals are done for production of complete financial statements.
- Production of monthly financial reports (budget comparisons, donor specific reports)
- Reviewing payments and uploading them onto Odoo
- Supervise Finance Officers to ensure debtors and creditors reconciliations are done and that medical aid claims are followed through.
- Maintenance of an accurate Fixed Asset register
Accounts Payable and Receivable
- Oversee accounts payable processes, ensuring accurate and timely payments to vendors and suppliers.
- Manage accounts receivable and work with billing departments to optimize revenue collection
- Monitor cash flow and implement strategies to optimize working capital.
- Weekly reconciliations of payables and receivables accounts.
- Attend hospital outreach clinics and activities and oversee management of payments during the activities.
Regulatory Compliance
- Ensure compliance with financial regulations, such as the National Social Security Fund, Uganda Revenue Authority, URSB, FIA, etc.
- Prepare and submit necessary financial reports to regulatory agencies.
Financial Analysis
- Analyze financial data to identify cost-saving opportunities and areas for revenue growth.
- Assist in financial modeling and decision-making processes.
- Provide regular forecasts and assist the Finance manager in forecasts for CURE Malawi including actual bank balances for planning purposes.
Internal Control
- Support the Finance Manager in developing and maintaining internal financial controls and procedures.
- Implement best practices to safeguard hospital assets and prevent fraud.
- Ensure all supporting documents are available, attached and filled
- Coordinate the annual physical count all assets
- Do inventory spot checks on all departments with inventory on monthly basis
Audit and Taxation
- Support the Finance Manager to coordinate with external auditors and tax professionals during audits and tax filings.
- Provide support for the preparation of tax returns.
- Preparation for the external audit and facilitate the audit work.
- Ensure that all taxes, deductions and payments are made and accounted for.
- Maintain and improve appropriate systems on internal control to safeguard finances and assets.
- Help with maintenance of financial policies and ensure that the same are continually updated.
- Provide accounting and tax advice to the hospital management team.
- Help with assessment and implement appropriate action plans to mitigate identified risks.
- Compile audit file for annual external and internal audits
- Lead the Finance Officers in providing Auditors with requested information
Staff Management
- Mentor and provide guidance to junior accounting staff.
- Collaborate with cross-functional teams to support financial initiatives
- Oversee subordinate staff members in the finance department and ensuring that the hospital books closed by the 1st of the following month
- Training Finance Officers on Account posting, reconciliations, Accounting Standards updates and any new policy changes.
Education and Professional Development
- Ensures own professional development to enhance own competencies through self-assessment and/or formal performance appraisal on regular basis according to the hospital (and own) professional development plan;
- Maintains professional records that provide evidence of competency and lifelong learning.
- Identifies personal development and training needs and work with the supervisor to, help facilitate education and professional development where possible.
- Maintains a good quality learning environment that supports continuing professional development, creativity and being proactive.
EDUCATION/EXPERIENCE REQUIREMENTS:
- Bachelor’s degree in Accounting, Business Administration, Commerce or Finance.
- Professional qualifications such as ACCA, CPA CIMA would be an added advantage.
- 5 years working experience, of which 2 should be at supervisory level.
- Be a paid up member of ICAM.
KNOWLEDGE, SKILLS & ABILITIES:
- Working knowledge of Accounting software such as Odoo
- Strong understanding of “Generally Accepted Accounting Principles” and methodologies.
- Ability to analyze financial data and prepare financial reports, statements and projections
- Knowledge of which government agencies are to be interfaced with for given legal or regular issues with regard to accounting of record keeping.
- Experience with other financial and accounting software applications
- Computer knowledge in accounting packages, MS Word, MS Excel, MS Access
COMPETENCIES:
- Attention To Details. Able to be alert in a high-risk environment; follow detailed procedures and ensure accuracy in documentation and data; carefully monitor processes; concentrate on routine work details, and organize and maintain a system of records.
- Communication Skills. Able to clearly present information through the spoken or written word; read and interpret complex information; listen well.
- Decision Making & Problem Solving. Able to take action in solving problems while exhibiting judgment and a realistic understanding of issues: able to use reason, even when dealing with emotional topics; review facts and weigh options.
- Integrity. Able to be tactful, maintain confidences, and foster an ethical work environment; prevent inappropriate behavior by co-workers; give proper credit to others; handle all situations honestly.
- Policies, Process, and Procedures. Able to act in accordance with established guidelines; follow standard procedures in crisis situations; communicate and enforce organizational policies and procedures; recognize and constructively conform to unwritten rules or practices.
- Team Work. Able to share due credit with co-workers; display enthusiasm and promote a friendly group working environment; work closely with other departments as necessary; support group decisions and solicit opinions from co-workers; display team spirit.
WORK ENVIRONMENT:
The work environment characteristics described here are representative of those a co-worker encounters while performing the essential functions of this position. The co-worker must perform all duties in conformance to appropriate safety and security standards.
The noise level in the work environment is usually low.
PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met by a co-worker to perform the essential duties of this position successfully.
- The co-worker must be able to regularly lift and/or move up to 5 pounds.
- While performing the duties of this position, the co-worker is required to:
- Frequently; sit, use fine finger dexterity, talk, and hear.
- Occasionally; stand, walk, reach with hands and arms.
- The co-worker must perform all duties in conformance to appropriate safety and security standards.
REASONABLE ACCOMMODATIONS
To perform this position successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties.
SUBMISSION OF APPLICATION
Interested individuals are requested to submit applications as soon as possible. Application for this position will be reviewed on rolling basis, as such we will close this advert when we are in receipt of sufficient applicants.
Only Online applications through our webpage will be considered.
To apply for this job please visit cure.applytojob.com.