Executive Finance / Audit
DNMKH-Group
Total years of experience :19 years, 3 Months
• Works with the hospital CEO, hospital board and employees to develop financial goals and objectives for the organization.
• Provides proactive, sound guidance regarding management of assets and investments, and financial trends within the organization.
• Management of the finance function and overseeing the finance team.
• Presents financial reports to hospital CEO & BOD on a monthly basis.
• Is actively involved in hospital leadership, organizational performance and the growth of a team-oriented culture.
• Employs a system of responsible accounting, including budget and internal controls.
• Ensures that all balance sheet accounts are reconciled on a monthly basis and a system of internal controls is in place to facilitate a clean audit opinion with no audit adjustments or internal control deficiencies noted.
• Develops organizational and departmental budgets, submits to CEO for approval, monitors compliance and works with CEO and administrative team to achieve or exceed established net profit.
• Maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the organization's cash flow.
• Quarterly meeting with insurance companies (debtors) for business development, Pricing, reconciliation & rejections.
• Ensures that accounts payable are paid in accordance with the contract terms; working closely with CEO and hospital board to resolve any payment issues quickly.
• Specific areas of responsibility include: patient financial services; maximizing cash flow consistent with sound credit and collection policies, while maintaining good rapport with the community; financial reporting with detailed analysis of financial statements and variances from budget; audits of financial statements and internal control
• Typically supervises the areas of Accounting, Admitting/Registration and Patient Financial Services. May oversee other departments as required by CEO.
• Preparation of Statutory Financial Statements and Group reporting under IFRS/IAS & Companies Ordinance;
• Preparation of internal monthly management accounts including cash flow & projected cash flow (Fund Flow Statement) and relevant details;
• In charge of managing and supporting the ledger team;
• Accounts Payable & receivable management;
• Providing accurate financial information to senior management;
• Identifying areas for cost cutting and improvement;
• Supervise Group intercompany reconciliation and ensure compliance with Group Policies & Procedures.
• Giving advice, guidance and support on all financial matter to senior management;
• Coordination with Internal as well as external auditors.
• Handling of Tax & Insurance matters.
➢ Make Audit Plan for the whole year and compliance accordingly;
➢ Conduct special assignments like review the package deal prices and help the top management for fixation of package deal prices;
➢ Review quarterly financial statements including the management accounts (Costing Reports) and highlight the weak areas;
➢ Provide assistance in redesigning the accounting & Internal Control system as per standard practices;
➢ Confirm the existence of Internal controls of each level on regular intervals and monitor the compliance with the established standards of performance;
➢ Observe the compliance of organizational policies & procedures at each level and report to management of non-compliance in the course of routine audit;
➢ To plan, organize and carry out the internal audit function including the preparation of an audit plan which fulfills the responsibility of the department, scheduling and assigning work and estimating resource needs
➢ To report to the management on the policies, programs and activities of the department
➢ To coordinate coverage with the external auditors
➢ To make recommendations on the systems and procedures being reviewed, report on the findings and recommendations and monitor management's response and implementation
➢ To conduct any reviews or tasks requested by management, audit committee, chief executive, provided a such reviews and tasks do not compromise the independence or objectivity of the internal audit function
• Review the Package deal prices on quarterly basis;
• Preparation of Monthly budget analysis report and submit to Manager Planning & Budget;
• Preparation of annual budget of the Hospital with the help of Manager Planning & Budgeting;
• Analyzing, evaluating and controlling daily disbursements/receipts, and ensures that all financial transactions are correct in accordance with the rules, procedures of the institute. • Prepare monthly financial reports & reconciliation statements and to ensure the timely submission to HQ. • Maintains all work related files such as copies of monthly accounts, advance files, budget files, bank account files etc. and ensure proper records; • Preparation of monthly budgets and ensures the timely submission to HQ in order to meet the financial needs of the institute. • Supervise and coordinate the work of lower level staff;