Director-Finance & Investments

Executive Summary

This is an executive role responsible for managing financial resources and oversight to the Authority and the National Health Insurance Fund (NHIF) in order to ensure prudent utilisation of financial resources. The role will combine operational and strategic oversight, managing accounting and financial control functions to ensure all resources are properly accounted for. The job holder will also work closely with the Director general in the development and execution of investment strategies and monitor compliance and risk associated with those activities; provides oversight and management of investment programs for the NHIF. It is expected that the jobholder will use the most current accounting and finance standards as well investment and strategies rules in the execution of duties.

Reporting directly to the Director General, the role will establish the financial and investment strategy for the sustainable long-term financial growth of the Authority.

Key Functions/Responsibilities

The key functions of the role will include but not limited to;

 Finance

• Oversee all aspects of financial management and financial systems implementation and financial reporting and accounting;
• Prepare and implement annual budgets as well as providing parameters and other guidelines to heads of department involved in submitting budgets;
• Prepare monthly Management Accounts for monitoring and assessment of the Authority as well as the Fund’s performance for decision making;
• Plan and control availability of funds to finance the Authority and Fund’s operations and acquisition of capital assets;
• Establish and maintain sound financial management practices that seek to minimise financial risk;
• The Authority being a public institution, the position holder should ensure financial operations and practices are compliant with the Public Finance Management Act No.2 of 2018, the National Health Insurance act No.2 of 2018, Statutory Instrument number 63 of 2019 and other legislations relevant to the Authority;
• Review treasury management systems and procedures to ensure that they are efficient and effective;
• Review internal and strategic controls and risk assessments;
• Provide financial advice for decision making to EXCO;
• Analyse the financial climate and market trends to assist senior executives in creating strategic plans for the future;
• create and maintain relationships with service providers and contractors, including banking institutions and accountants;
• Update and implement financial policies and procedures;
• Maintain a policy manual for the finance department;
• Managing all risks associated with investments of Authority Funds;
• Responsible for internal and external audits of the Authority;
• Put up remedial actions for all gaps identified in audits;
• Establish internal controls in order to enhance accountability in the utilization of resource;
• Responsible for coordinating all activities related to periodical and on-going operational research and actuarial valuations in order to inform decision making
• Process payments in a timely manner due to health care providers for provision of health care insured services;
• Process payments for all other suppliers of the Authority;
• Processing of payroll and account for all expenditures in order to meet financial and statutory obligations;
• Provide supervision to the custody of all assets and stores inventory;
• Preparing and updating the asset register ensuring that all values are current
• Performing all other tasks and assignments as may be delegated by the supervisor insofar as they relate to the role.

Investments

• Responsible for developing investment guidelines and to seek the requisite approvals;
• Responsible for Investing all monies for the Fund and or Authority in line with the Investment Policies and Guidelines
• Relationships with banks, financial institutions and capital markets for purposes of custody and investments of the Authority Funds
• To manage all risks associated with investments of Authority Funds
• Provide leadership and supervision to the Investment team to ensure maximum return on Fund and Authority Investments.