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  • Posted: Nov 24, 2022
    Deadline: Not specified
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  • The Aga Khan University is a private, autonomous university that promotes human welfare through research, teaching and community service initiatives. Based on the principles of quality, access, impact and relevance, the University has campuses and programmes in Kenya, Tanzania, Uganda, the United Kingdom, Afghanistan and Pakistan. Its facilities include ...
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    Director Finance

    Job Summary:

    Reporting to the Vice President, Finance & CFO, the incumbent will be responsible to provide strategic leadership and clear direction to the financial functions for health services and academic programmes in Kenya and other locations, where required. S/he will partner and support the entity heads of the University as a key advisor to build influential relationships across the continuum and drive change. The incumbent will play an important role in the overall strategic planning and implementation of financial programs and processes that can serve as a model for other countries.

    The incumbent will also be responsible to oversee the planning process and develop financial goals and budgets in consultation with the entity heads. S/he will be responsible for strengthening and administering financial systems and controls encompassing all University assets, all sources of University income, including endowments, grants, contracts and for all categories of construction, capital and operating expenses in Kenya and other locations, as required.

    Moreover, the successful incumbent will oversee statutory accounting, patient accounting, audits, financial and statutory reporting, monitoring & evaluation, corporate governance, insurance and taxation and preparation of feasibilities.

    Main Duties & Responsibilities:

    • Develop and sustain a financial strategy for the University, in support of the academic, healthcare and research mission in Kenya. Provide ongoing evaluation of the short and long-term strategic financial requirements and objectives.
    • Provide leadership in developing and carrying out an annual University-wide planning process that will result in an integrated budget for presentation to the Board. Work with the AKU community to develop long term financial projections under multiple scenarios.
    • Provide strategic financial leadership for revenue, pricing, budget, financial planning, capital and decision support.
    • Work closely with the entity heads, and other appropriate staff to develop new and diversified business ventures, ensuring adequate financial support to identify, assess and select such ventures.
    • Provide input, analysis and support business development and potential expansion opportunities in Kenya and other locations, as required.
    • Interact with and understand priorities of multiple business units and influence key leaders on integration within the broader regional strategy.
    • Develop programs and systems to ensure business unit accountability for performance and its self-sustainability.
    • Develop a financial structure that will ensure that senior management access on a day-to-day information pertaining to their approved budgets. Develop financial policies for its successful implementation.
    • Develop and maintain processes and systems to ensure the availability of appropriate and timely financial information to entity heads and managers of the University.
    • Formulate financial strategies to achieve the institution’s missions and goals; in collaboration with other senior managers.
    • Provide appropriate levels of financial control and autonomy.
    • Responsible for developing banking and financial strategies at the same time ensuring the University’s interests in customs, tax and fiscal areas are met and statutory reporting requirements are met.
    • Work on risk management, insurance related matters, and work closely with the entity heads on matters related to the generation of new resources and their management.
    • Manage the capital structure of the University, ensuring coordination and availability of financial resources for academic, healthcare and other priorities. Ensure the ongoing availability of financial capacity through a rigorous financial strategy, budgeting and planning.
    • Work closely with external and internal auditors through effective identification, management and communication of key accounting, financial and compliance issues.
    • Ensure compliance with all statutory and financial regulations of the respective countries in Kenya and other locations, as required.
    • Oversee accounting for construction and capital projects and ensure accurate reporting and monitoring of budgets and finances.
    • Evaluate risks by continuously reviewing processes and internal controls & implementing improvements.
    • Work closely with the Project Director and the legal team for the development /reviewing of contracts with international consultants (Architects, Design Consultants) and contractors. Responsible for the financial management of construction and review of projects including large constructions.
    • Communicate and maintain liaison with AKDN agencies, corporate clients, vendors, local and foreign institutions, donors, tax consultants, external auditors, insurers and legal advocates, as and when required.
    • Undertake any special assignments as assigned.

    Requirements:

    • Qualified Accountant – ACA, ACMA, ACCA, CPA (K), CIMA or A Masters degree preferably in Finance or equivalent from a reputable University.
    • At least 10 years of working experience in a large local or multinational institution preferably in an education or an integrated Health system. At least 5 years of which should be in a management position.
    • Experience of working in a development sector is also preferred.
    • Strong knowledge of International Financial Reporting Standards and International Accounting Standards and their applications.
    • Strong knowledge of working with high-quality ERP systems.
    • Knowledgeable in preparing feasibility studies/ project plans/ strategic plans.
    • Strong command of spoken and written English.
    • Strong command of Excel and PowerPoint.
    • Ability to work in a team environment.
    • Ability to prioritize work assignments and meet strict deadlines.
    • Demonstrated ability to lead, motivate and develop team members to work towards achieving the set goals and objectives.
    • Unquestionable integrity and ability to maintain confidentiality.
    • Experience in managing relationships.
    • Excellence at carrying of data analysis and synthesizing information.

    Applications should be submitted latest by December 23, 2022

    go to method of application »

    Head of Finance (Health Services)

    Job Summary 

    Reporting to the Director of Finance, Kenya, the incumbent will oversee the overall Finance function of the Health Services of AKUH, N including its Outreach Centres. The job entails management of the Finance function including but not limited to planning and budgeting, statutory accounting, patient accounting, audits, financial and statutory reporting, monitoring & evaluation, corporate governance, insurance and taxation, preparation of feasibilities and working closely with key stakeholders including Chief Executive Officer of AKUH,N, Chief Operating Officers of the Outreach, and Director Finance to ensure that all Finance related matters are handled in a timely manner.

    Responsibilities

    • Finance Operations: Ensure smooth operations of the overall Finance function (related to the Health Services), general accounting, treasury, cash flow management, fixed asset management, payroll, receivables and payables, annual statutory audits, compliance with the respective statutory laws and reporting
    • Planning, Budgeting and Reporting: Responsible for the annual planning and budgeting cycle of the AKUH, N and supporting the Chief Executive Officer and Senior Management in the development of hospital’s goals, volumes, revenue, and expenditures including, capital and staffing plans. Ensure budget variance reports (for volumes, staffing indicators), and financial reports are provided in a timely manner to support the CEO in this regard. Act as a business partner to ensure operational success and help build the business model, implement tactical and strategic initiatives, and support the performance of the Health operations in East Africa and its growth strategy
    • Risk assessment: Evaluate risks by continuously reviewing the processes and internal controls and implementing improvements
    • Financial reporting: Review management and statutory financial reporting and analysis of the results of all the entities, undertake feasibility and profitability analysis for new and existing services and provide recommendations to the senior management. Ensure that robust financial systems and effective internal controls are in place
    • Working Capital Management: Implement and oversee a strong working capital management process through regular review of patient receivable schedules, ensure timely issuances of invoices to credit clients, ensure timely recovery of receivables, strong review of inventory holdings and payment to creditors
    • Accounting: Oversee General Ledger functions, assuring accurate timely reporting, and conforming with professional accounting standards and best practices. Also responsible for timely and accurate monthly, quarterly and yearly closing activities and preparation of financial statements
    • Financial policies and procedures: Develop and review financial policies and give recommendations for improvement/implementation to the management
    • Capital projects and legal matters: Work closely with the Project Director and the legal team for the development/reviewing of contracts with international consultants (Architects, Design Consultants) and contractors. Responsible for the financial management of construction and review of projects including large constructions
    • Regulatory Compliance: Oversee and monitor regulatory compliance while evaluating risks by continuously reviewing the processes and internal controls and implementing improvements
    • Faculty Compensation: Supervise faculty compensation accounting, reporting and monitoring, work on the critical evaluation of the current financial model of the institution and submit recommendations for sustaining / improving the current model
    • New Ventures: Work closely with the entity /department heads and other appropriate staff to develop new and diversified business ventures, ensuring adequate financial support to identify, assess and select such ventures
    • Financial Strategies: Develop banking and financial strategies at the same time ensuring the institution’s interest in customs, tax and fiscal areas are met and statutory requirements are met. Responsible for overseeing the development of financial, social and legal deliverables reports and schedules as per the commitments of Signed Credit Financing Agreements (including Commercial borrowings from International Financial and Development Banks)
    • Liaison with Stakeholders: Communicate and maintain liaison with AKDN agencies, corporate clients, vendors, local and foreign institutions, donors, tax consultants, external auditors, insurers and legal advocates
    • Staff recruitment and retention: Work with the Director of Finance in the recruitment, and retention of staff. Work on staff development goals and objectives through Key Performance Indicators (KPIs)

    Requirements

    • Qualified Accountant – ACA, ACMA, ACCA, CPA (K), CIMA or
    • A Masters degree preferably in Finance or equivalent from a reputable university 
    • At least 7 – 10 years of working experience in a large local or multinational institution preferably in an integrated Health system. At least 5 years of which should be in a management position
    • Experience of working in a development sector is also preferred
    • Strong knowledge of International Financial Reporting Standards and International Accounting Standards and their applications
    • Strong knowledge of working with high-quality ERP systems
    • Knowledgeable in preparing feasibility studies/ project plans/ strategic plans
    • Strong command of spoken and written English
    • Strong command of Excel and PowerPoint
    • Ability to work in a team environment
    • Ability to prioritize work assignments and meet strict deadlines
    • Demonstrated ability to lead, motivate and develop team members to work towards achieving the set goals and objectives
    • Unquestionable integrity and ability to maintain confidentiality
    • Experience in managing relationships
    • Excellence at carrying out data analysis and synthesizing information

    Applications should be submitted latest by December 7, 2022

    Method of Application

    Applications together with detailed Curriculum Vitae should be sent to the Manager, Recruitment, Aga Khan University Hospital, Nairobi, by email to hr.recruitment@aku.edu. Please indicate the title of the position on the subject line of your email application.

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