Financial Manager

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We are united by a common purpose of providing the best and safest care; and by our shared values of Care, Truth, Participation, Compassion and Dignity.

Netcare invites you to be part of our journey.

The Financial Manager will provide specialised financial management, technical accounting and reporting support to the Netcare Hospitals Division. The incumbent will be responsible for selected Divisional budgeting and forecasting inputs, lease accounting, balance sheet analysis, intergroup accounting, statutory payment reviews, financial disclosures and other technical accounting matters.
The role will support the Divisional Financial Manager and Financial Director and will collaborate with hospital finance teams, Group Finance, Shared Services and other relevant stakeholders to ensure accurate reporting, appropriate accounting treatment, effective financial controls and compliance with IFRS, legislation and Netcare policies and procedures.

Key Work Outputs and Accountabilities

Financial Planning, Budgeting and Forecasting

• Calculate and prepare specific inputs into Divisional budgets and forecasts, taking into consideration historical trends, operational drivers and other relevant factors.
• Prepare rental income and rental expense budget inputs in accordance with the applicable lease agreements.
• Manage the process to ensure utilities are budgeted at appropriate levels, supported by relevant operational and stakeholder inputs.
• Review utility accruals to ensure that the Division’s costs are adequately provided for.
• Provide ad hoc assistance with the preparation, review and analysis of budgets and forecasts.
• Analyse actual performance against budgets and forecasts and assist with the investigation and reporting of material variances.
• Provide financial analysis and commentary to support Divisional planning and decision-making.

Financial Accounting and Reporting

• Take responsibility for the Hospital Division’s accounting for leases, ensuring appropriate accounting treatment in accordance with IFRS and effective administrative processes within SAP Real Estate Management (SAP RE).
• Manage the monthly accounting for Divisional eliminations and intergroup balances and transactions.
• Perform balance sheet analysis and reporting and investigate significant or unusual movements.
• Process and/or review general ledger entries relevant to the role’s areas of responsibility.
• Review technical and complex journals to ensure compliance with applicable IFRS requirements and Netcare accounting policies.
• Perform repairs and maintenance expenditure reviews to identify items of a capital nature and ensure appropriate accounting treatment.
• Review monthly financial disclosure submissions for completeness and accuracy.
• Prepare monthly, interim and year-end financial disclosure packs.
• Review annual financial statements for completeness, accuracy and compliance with applicable reporting requirements.
• Coordinate the biannual financial sign-off process within the Hospital Division.
• Prepare ad hoc technical accounting assessments and write-ups for Group Finance and/or the external auditors.
• Assist with financial commentary and the preparation of management, committee and other reports as required.
• Evaluate financial reports and processes to improve their accuracy, relevance and consistency.
• Prepare monthly Divisional debtors reports.
• Engage with relevant stakeholders to investigate anomalies and support the implementation of corrective action.

Taxation, Statutory and Regulatory Compliance

• Review and release SARS payments relating to VAT, dividends tax and income tax.
• Manage the annual Workers’ Compensation Act declarations and the related accounting.
• Ensure compliance with applicable statutory, taxation, accounting and reporting requirements within the role’s areas of responsibility.
• Maintain current knowledge of relevant legislation, accounting standards and amendments affecting the role.

Fixed Assets

• Collaborate with the Fixed Asset team in maintaining the Hospital Division’s fixed asset register.
• Assist in ensuring that capital expenditure, asset additions, disposals, transfers and other fixed asset transactions are appropriately accounted for.
• Ensure that repairs and maintenance expenditure is appropriately distinguished from expenditure of a capital nature.  

Day-Theatre and Support-Entity Oversight

• Review day-theatre operational activity reports for completeness and accuracy.
• Manage the financial and administrative requirements of the day-theatre support entity.
• Monitor the financial performance, reporting, governance and compliance requirements of the day-theatre support entity.

Internal Controls, Governance and Audit

• Monitor the effectiveness of internal controls within the role’s areas of responsibility and initiate improvements where required.
• Ensure compliance with Netcare policies, procedures, delegations of authority and financial control requirements.
• Prepare and maintain standard operating procedures for new or changed processes arising from projects or process improvements.
• Review balance sheet reconciliations relevant to the role’s areas of responsibility.
• Engage with the business, Group Finance, internal audit and external audit to investigate accounting anomalies and implement corrective action.
• Support interim and year-end audit processes by preparing supporting information and responding to audit queries.

Projects and Process Improvement

• Participate in and, where appropriate, lead ad hoc accounting and financial management projects within the Hospital Division.
• Facilitate the implementation of business process improvements, including opportunities for standardisation, optimisation and automation.
• Act as a change agent for the implementation of new or revised accounting processes and systems.
• Assist with the implementation and enhancement of SAP and other Group financial systems and processes.
• Prepare standard operating procedures and supporting documentation for new or amended processes.
• Drive strategic financial projects on an ad hoc basis.

Commercial and Divisional Support

• Provide specialised financial and accounting support to the Divisional Financial Manager and Financial Director of the Netcare Hospitals Division.
• Provide ad hoc assistance with financial management requirements across the Division.
• Provide commercial and financial analysis to support business decisions.
• Liaise with a complex network of internal stakeholders to support the Division’s strategic, operational and financial objectives.
• Identify and communicate material financial trends, risks, opportunities and potential efficiencies.
• Build and maintain effective working relationships with hospital finance teams, Shared Services, Group Finance, operational management, internal and external auditors and other relevant stakeholders.

Stakeholder Relationship Management

• Develop and maintain effective relationships with key internal and external stakeholders.
• Promote open and effective communication between the Division, hospitals, Shared Services, Group Finance, auditors and other relevant parties.
• Operate as a trusted financial partner by identifying trends, accounting risks, control weaknesses and opportunities for improvement.
• Communicate complex financial and technical accounting matters clearly to both financial and non-financial stakeholders.

Skills Profile

Education

Essential

• A relevant three-year BCom degree or Advanced Diploma qualification at NQF Level 7, including Financial Accounting at third-year level.
• A CA(SA) qualification.

Work Experience

Essential

• A minimum of three to five years’ relevant financial management or senior financial accounting experience.
• Preparing or reviewing management accounts, budgets and forecasts.
• Balance sheet analysis, reconciliations and financial reporting.
• Intergroup accounting, eliminations and consolidation processes.
• Drafting or reviewing annual financial statements and financial disclosure packs.
• Applying IFRS to technical or complex accounting matters.
• Preparing technical accounting assessments or position papers.
• Working with auditors and responding to audit queries.
• Strong written and verbal communication skills.

Preferred

• Experience in a divisional, group finance or multi-entity environment.
• Lease accounting and SAP RE.
• Experience in the healthcare sector or another complex, regulated environment.
• Experience leading financial projects and implementing process improvements.

Knowledge

Essential

• Advanced knowledge of Microsoft Excel.
• Sound knowledge of IFRS, including lease accounting and impairment or expected credit loss principles.
• Knowledge of financial statement preparation and disclosure requirements.
• Knowledge of balance sheet management, reconciliations and financial controls.
• Knowledge of intergroup accounting and elimination principles.
• Knowledge of performance measurement, variance analysis and financial reporting.

Competencies

• Strong technical accounting ability.
• High level of accuracy and attention to detail.
• Analytical and critical-thinking capability.
• Ability to identify and explain material financial trends and risks.
• Strong planning, organisation and deadline-management skills.
• Ability to manage multiple priorities and recurring reporting requirements.
• Sound judgement and professional integrity.
• Ability to work independently while collaborating across multiple functions.
• Clear written and verbal communication.
• Ability to translate complex accounting matters into practical business implications.
• Stakeholder engagement and relationship-management skills.
• Continuous-improvement and problem-solving orientation.
• Ability to lead projects and facilitate change.

Join the team committed to providing the best and safest health and care.