Role Overview
The Head of Finance provides strategic financial leadership and stewardship to ensure the Hospital’s long-term financial sustainability, profitability, and operational efficiency. The role is responsible for developing and implementing financial strategies that support the Hospital’s strategic objectives while ensuring prudent financial management, regulatory compliance, robust internal controls, and effective resource allocation.
As a member of the Executive Management Team, the Head of Finance serves as the principal financial advisor to the Chief Executive Officer, providing strategic insights that support informed decision-making, business growth, investment planning, and financial risk management. The role also leads revenue optimization initiatives, strengthens financial governance, and promotes a culture of accountability and value creation across the organization.
Key Responsibilities
Strategic Financial Leadership and Business Planning
- Provide strategic financial leadership that supports organizational growth, sustainability, and long-term value creation.
- Develop and implement the Hospital’s Financial Strategy aligned with the Corporate Strategic Plan.
- Advise the CEO and Executive Management on financial implications of strategic initiatives, capital investments, and business expansion.
- Lead the annual budgeting process and long-term financial planning to ensure optimal allocation of financial resources.
- Develop financial models and business cases to support new service lines, infrastructure investments, and strategic partnerships.
- Monitor financial performance against strategic objectives and recommend corrective interventions where necessary.
- Promote financial accountability across all departments by embedding sound financial management practices.
- Drive initiatives that improve profitability while maintaining affordability and quality of healthcare services.
Financial Planning, Performance Management and Reporting
- Lead the development of comprehensive financial planning and reporting systems that provide timely, accurate, and actionable financial information.
- Oversee preparation of annual budgets, rolling forecasts, and financial projections.
- Ensure timely preparation and presentation of monthly, quarterly, and annual financial reports to Executive Management and the Board.
- Monitor departmental financial performance and recommend strategies to improve financial efficiency.
- Develop executive financial dashboards and performance indicators that support evidence-based decision-making.
- Evaluate financial trends and recommend initiatives that improve organizational financial performance.
- Ensure integrity, accuracy, and completeness of financial records in accordance with applicable accounting standards.
Revenue Cycle Management and Financial Sustainability
- Provide strategic oversight of the Hospital’s revenue cycle to maximize revenue realization, strengthen cash flow, and improve financial sustainability.
- Develop strategies that optimize revenue generation and minimize revenue leakage across all service lines.
- Provide executive oversight of billing, insurance claims management, debt collection, and accounts receivable.
- Monitor payer performance and negotiate financial arrangements with insurance companies and corporate clients.
- Develop initiatives that improve collection efficiency and reduce outstanding receivables.
- Monitor pricing structures and recommend adjustments that ensure financial viability while remaining competitive.
- Evaluate service profitability and recommend opportunities for revenue diversification.
Financial Governance, Risk Management and Regulatory Compliance
- Establish and maintain an effective financial governance framework that safeguards organizational assets and ensures compliance with statutory and regulatory requirements.
- Develop and periodically review financial policies, procedures, and internal control frameworks.
- Ensure compliance with International Financial Reporting Standards (IFRS), applicable tax legislation, and all statutory financial obligations.
- Lead enterprise financial risk assessments and implement appropriate mitigation strategies.
- Coordinate internal and external audits and ensure timely resolution of audit findings.
- Maintain effective systems for fraud prevention, financial integrity, and asset protection.
- Advise Executive Management on emerging financial risks and regulatory changes that may affect the Hospital.
Treasury, Capital Investment and Resource Stewardship
- Provide strategic oversight of treasury operations and capital resource management to ensure liquidity, financial resilience, and sustainable investment.
- Develop cash flow management strategies that ensure adequate liquidity for operational and strategic requirements.
- Oversee treasury operations including banking relationships, investments, and financing arrangements.
- Evaluate capital expenditure proposals and recommend financially viable investment decisions.
- Monitor working capital performance and implement strategies that improve financial efficiency.
- Ensure prudent utilization of financial resources through effective expenditure control.
- Support fundraising initiatives, donor-funded programmes, and strategic financing opportunities where applicable.
Financial Analytics, Digital Transformation and Continuous Improvement
- Leverage financial intelligence and technology to improve operational efficiency, decision-making, and organizational performance.
- Champion digital transformation initiatives that strengthen financial systems and reporting capabilities.
- Develop financial analytics that provide meaningful insights into organizational performance.
- Promote automation of finance processes to improve efficiency, accuracy, and internal controls.
- Benchmark financial performance against healthcare industry standards and recommend improvement initiatives.
- Identify opportunities for cost optimization without compromising quality of healthcare services.
- Foster a culture of innovation and continuous improvement within the Finance function.
Skills and Competencies
Academic Qualifications
- Bachelor’s Degree in Accounting, Finance, Commerce, Economics, or an equivalent field.
Professional Qualifications
- Certified Public Accountant of Kenya (CPA-K) or Association of Chartered Certified Accountants (ACCA) qualification.
- Membership in the Institute of Certified Public Accountants of Kenya (ICPAK) in good standing.
- Certification in Financial Management, Corporate Finance, Risk Management, or Healthcare Finance will be an added advantage.
Experience
- Minimum of eight (8) years’ progressive experience in finance and accounting, with at least five (5) years in a senior leadership position.
- Demonstrated experience in strategic financial planning, budgeting, treasury management, and financial reporting.
- Proven experience in revenue cycle management, financial governance, and internal control systems within a healthcare or similarly regulated environment.
- Experience advising executive leadership and Boards on financial strategy and organizational performance.
- Proven track record in leading financial transformation, process improvement, and organizational growth initiatives.
Technical Competencies
- Strategic Financial Management
- Financial Planning, Budgeting and Forecasting
- Corporate Finance and Investment Analysis
- Treasury and Cash Flow Management
- Revenue Cycle Management
- Financial Reporting and IFRS
- Taxation and Statutory Compliance
- Enterprise Risk Management
- Internal Controls and Audit
- Financial Modelling and Business Intelligence
- Healthcare Financial Management
- Enterprise Resource Planning (ERP) and Financial Management Information Systems (FMIS)
- Data Analytics and Executive Financial Reporting
