Finance Manager

Position Summary: Finance Manager

The Finance Manager will be responsible for the overall financial management, planning, and reporting of the Private Medical College and its attached Hospital. This role involves strategic financial planning, cost control, ensuring statutory compliance, managing audits, and supporting institutional growth through sound financial practices. The incumbent must possess a strong understanding of both healthcare and educational institution finance to ensure long-term financial sustainability and operational efficiency.

Key Responsibilities:

1. Financial Planning & Budgeting

• Develop, implement, and monitor annual budgets for both academic and hospital operations.
• Conduct variance analysis and provide actionable insights to management.
• Prepare long-term financial projections and investment plans for infrastructure and equipment expansion.

2. Accounting & Financial Operations

• Supervise daily accounting operations including billing, receipts, payments, payroll, and ledger maintenance.
• Ensure timely preparation and accuracy of financial statements (P&L, Balance Sheet, Cash Flow).
• Oversee fund management, working capital, and ensure efficient cash flow management across departments.

3. Statutory Compliance & Audit

• Ensure compliance with all statutory and regulatory requirements such as Income Tax, GST, TDS, PF, ESI, and Labour Laws.
• Liaise with external auditors, statutory authorities, and banks for audit, financing, and compliance matters.
• Maintain financial practices in accordance with NMC, NABH, NAAC, and other accreditation standards applicable to private medical institutions.

4. Hospital Financial Management

• Implement robust cost accounting and cost control mechanisms for various hospital departments (OPD, IPD, Pharmacy, Diagnostics, etc.).
• Track profitability of clinical departments and support revenue optimization.
• Support hospital management in pricing and tariff structuring of medical services from time to time
• Understand the Capex and Opex requirements of the organisation and Optimisation
• Working Capital Management and Day to Day collection monitoring

5. Academic Finance Management

• Monitor fee collection, scholarships, and fund allocations for the medical college.
• Ensure compliance with fee structures approved by competent authorities and manage student billing systems efficiently.
• Coordinate with the admissions and academic departments for financial planning and student-related collections.

6. ERP / MIS & Systems

• Manage Finance modules within the Hospital Information System (HIS) and ERP solutions.
• Generate periodic MIS reports for top management for informed decision-making.
• Drive process automation and digital financial transformation initiatives.

7. Team Leadership

• Lead and develop the Finance and Accounts team to ensure high standards of performance.
• Establish internal controls, SOPs, and training for accounting and finance staff.

Qualifications & Experience:

• Education: Graduate with either Chartered Accountant (CA) / Cost & Management Accountant (CMA) / MBA (Finance) / M.Com.
• Experience: Minimum 812 years of relevant experience, including at least 5 years in a hospital or medical education institution (private sector preferred).
• Experience in financial management, budgeting, taxation, and healthcare accounting systems.
• Proficiency in Tally ERP / SAP / Oracle or similar financial software.

Key Skills & Competencies:

• Strong financial planning, analytical, and cost management skills.
• Excellent knowledge of healthcare and education financial regulations.
• High level of integrity, confidentiality, and ethical conduct.
• Strong leadership, communication, and interpersonal skills.
• Ability to work in a fast-paced, multidisciplinary environment.

Remuneration:

Competitive and commensurate with qualifications and experience.