Regional Financial Manager
Job Title: Regional Financial Manager
Department: Finance/Administration
Location: Inland North | Pretoria
Position: Regional Financial Manager
Application Deadline: Thursday, September 12, 2024
Overview
We are excited to announce an opening for a Regional Financial Manager at our office located at 50 George Storrar Drive, Pretoria, 0027. In this crucial role, you will report directly to the General Manager for the Inland region and play a vital part in our management team. Your primary focus will be to analyze financial data, identify areas needing improvement, and guide the implementation of strategies to enhance the financial performance of our regional operations. You will also coordinate various corporate projects to ensure optimal management of our facilities while assessing risks effectively.
This role includes evaluating new projects, whether they involve existing facilities (brownfield), new sites (greenfield), or corporate finance activities like business acquisitions and disposals.
Key Responsibilities
Management Information and Financial Analysis
- Equip Finance and Administration Managers with effective tools to track financial performance, including dashboards and activity reports.
- Collaborate with Finance and Administration Managers to identify the root causes of any financial performance issues and develop actionable solutions.
- Represent the region in discussions on reimbursement models, ensuring alignment with financial goals.
- Provide comprehensive reports and analyses to guide the region in achieving budgetary profit and performance objectives, focusing on turnover management, cost of sales, and overheads.
- Conduct monthly analyses of overhead costs at both regional and hospital levels, using benchmarks and ratios to assess performance.
- Assist in identifying and addressing any overspending, ensuring that corrective action plans are developed and executed.
- Support regional teams in managing overheads effectively and implementing systems to share Best Operating Practices (BOPs).
- Oversee the accuracy and validity of the region’s assets and liabilities, ensuring compliance with standards.
- Collaborate with the General Manager to explore growth opportunities through expansions and acquisitions.
- Serve as a regional expert on corporate finance activities, providing insights and support where needed.
- Ensure that Finance and Administration Managers are well-versed in Value-Based Care principles, supporting hospital management teams with necessary information and engagement.
- Aid in the preparation and review of hospital-specific 5-year strategic plans.
Budgeting
- Collaborate with central finance, General Managers, Regional Managers, and head office to develop annual budget guidelines.
- Act as a liaison to ensure that budget parameters and timelines are met between the head office and the business.
- Review hospital and regional budgets with the General Manager, ensuring logical and reasonable trends for income and expenses.
- Ensure capital expenditure budgets align with regional needs while delivering appropriate returns.
- Manage and complete the regional budget within established guidelines.
Financial Control & Governance
- Ensure that Finance and Administration Managers implement effective controls to monitor and report regional capital expenditures.
- Monitor capital expenditure cash flow, maintain quality control over submissions, and ensure compliance with processes and deadlines.
- Assist in project evaluations (Return on Investment and Internal Rate of Return) and coordinate submissions to the investment committee.
- Manage bad debt and stock schedules, ensuring timely reporting and relevant actions are taken.
- Establish a strong financial control environment, emphasizing the management of company assets and fraud prevention measures.
- Collaborate with the Financial Services Committee on policy and process development, including regional account reconciliations and capital expenditure reviews.
- Coordinate quarterly financial compliance checklists and annual audit preparations.
- Provide regional insights for the Delegation of Authority document and comply with JSE attestations.
- Conduct ongoing training for Hospital Managers and Finance and Administration Managers, ensuring adherence to the company’s Delegation of Authority.
Statutory Compliance
- Oversee the requirements for the annual external audit for the region and ensure the timely completion of financial statements.
- Facilitate internal audits and support facilities in achieving high internal audit ratings with minimal financial issues.
- Align administrative processes with Financial Services Committee policies, ensuring compliance with statutory requirements.
- Actively participate in board roles, including management of shareholder matters and review of profit distributions and financial decisions.
Credit Control & Patient Services
- Review weekly reports to monitor internal and external debtors’ days outstanding (DSO) and collections against targets.
- Identify underperforming areas and work to address the issues with relevant central resources.
- Drive actions to continually enhance DSO performance and share best practices across the region.
- Monitor stock cover levels and address any dead or obsolete stock.
- Provide analysis and support to help achieve cash flow targets and interact with patient services support teams for project implementation.
People Management & Leadership
- Represent the region in discussions related to finance and administration functions.
- Share best practices across the region to enhance operational efficiency.
- Contribute to the performance management of Finance and Administration Managers and support succession planning.
- Oversee recruitment, staffing, and retention of Finance and Administration personnel, ensuring diversity and transformation goals are met.
- Identify training needs and ensure they are addressed effectively.
- Collaborate with head office functions to foster positive outcomes across various teams.
- Actively participate in leadership teams, inspiring a productive and motivated work environment.
Requirements
- A qualified Chartered Accountant (CA) or a similar qualification with completed articles is essential.
- 5-7 years of relevant operational experience, preferably in financial management within a corporate services environment.
- Experience in credit risk management and customer credit control is advantageous.
- Familiarity with hospital operations and medical aid funding.
- Ability to learn industry-specific knowledge, including healthcare terminology.
- Proficient in computer software, particularly Excel, Word, and PowerPoint.
- Previous commercial and operational experience in the healthcare sector is a plus.
- Strong understanding of financial management, reporting, and the International Financial Reporting Standards (IFRS).
- Knowledge of key commercial legislation, including the Companies Act and Income Tax Act, and their implications for the business.
- A valid driver’s license and willingness to travel regionally and nationally as needed.
Competencies
- Strong problem-solving and analytical skills.
- Resilience and ability to handle challenges effectively.
- Excellent verbal and written communication skills, including presentation capabilities.
- Financial acumen and attention to detail.
- Ability to build relationships and respond to customer needs.
- Strong organizational awareness and commitment to excellence.
- Ethical behavior and the ability to motivate and develop team members.
Application Process
To apply for this position, please download the application form from the following link: Download Application Form and submit your completed application to careers@lifehealthcare.co.za.
Closing Statement
We appreciate your interest in joining our team as a Regional Financial Manager. Please note that only shortlisted candidates will be contacted. If you have not heard from us within two weeks after the closing date, consider your application unsuccessful.
Life Healthcare is committed to being an Equal Opportunity Employer. We encourage applications from all qualified individuals.
Thank you for considering this exciting opportunity to contribute to our organization!
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