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POSITION: Director of Finance
DEPARTMENT: Finance
RESPONSIBLE TO: CEO
As a member of the Leadership Team, the Director of Finance provides the day to day management of the financial services operation and its personnel and provides a vital link between the finance department and its personnel and the leadership team. Reporting to the CEO, the Director of Finance is responsible for the overall management and delivery of services of the department. The essential functional areas of responsibility include the planning, development, implementation and management of accounting and financial management policies, procedures and systems. In keeping with our Mission, Vision and Values and our philosophy of Resident Centered Care, the Director of Financial Services, as a partner in the provision of care and support of our Residents, represents the home in a positive, professional, efficient and confidential manner.
Key Responsibilities:
- Effectively oversee the facility budget
- Flag any significant variances and ensure that these variances are brought to the attention of the CEO
- Provide guidance to CEO and Directors in managing variances
- Ensure the conservation of the assets of the Home by planning, developing, implementing, managing, evaluating and monitoring financial policies and procedures, accounting systems and internal and external reporting and analytical systems.
- Maintain the financial records of the RK MacDonald Nursing Home in accordance with Generally Accepted Accounting Principles (GAAP) including reconciliation of the Protected budget envelope
- Prepare and assist as required in the required annual audit
- Ensure the timely and accurate recording of all financial and statistical transactions including bank reconciliation as well as providing supervision of Accounts Payable and Accounts Receivable, and trust accounts
- Provide monthly financial statement for the Board of Directors
- Ensure that accounting decisions are in the best interest of the board and, in particular, its financial operations, by being fully aware of the Home’s accounting requirements.
- Working with CEO, Analyze budget approvals from DOHW against budget requested
- Assist in development of Home’s business planning process including preparation of annual budget.
- Assist all other Directors and Coordinators in explaining budget variances and methods of expenditure reductions in areas of deficit.
- Coordinate submission of data and/or payments to various external agencies such as NSHEPP, CRA, Stats Canada, DOHW, licensing and insurance
- Coordinate submission of Nursing Strategy, Leadership and Education Premium recoveries
- EFT with updates to Occupancy and Revenue Journals
- Process the EFT for payments to Resident accounts
- Accurate maintenance of data into Acc Pac with monthly reports to Directors
- Payroll transfer functions
- Generation of annual T4 for all employees
- Coordinate the provision of Finance department services that are Resident centered and that support and reflect the Mission, Vision and Values of the RK Mac Donald Nursing Home
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- Develop, implement and annual review departmental policies and procedures
- Develop departmental yearly departmental goals and objectives that support the strategic plan
- Annually review and update departmental job descriptions
- Effectively manage the human services within the Finance department
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- Working with the HR Department, responsible for the hiring of employees
- Manages staff performance on a daily basis and performs annual performance reviews on all staff
- Coaches, mentors and empowers staff
- Conducts monthly departmental meetings
- Approves departmental LOA and vacation requests
- Progressive discipline, and when warranted and upon consultation with HR and CEO, up to and including dismissal
- Ensure the orientation and ongoing education of departmental staff including development and continuing education
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- Works with Education Coordinator to identify departmental specific needs
- Ensures all staff attend yearly mandatory education
- Accountable for the safety and risk management of the financial department
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- Identify potential departmental risks and implement strategies to minimize risk
- Participate as a leader in the JOHS and Risk Management programs
- Communication – through personal behavior and interactions, demonstrates a humanistic, affliitative approach to relationships
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- Within department, with other team members and union representatives
- In all interactions within and while representing the facility
- With all Residents and families
- In all interactions in the Home
- Continuous Quality Initiatives
- Ensure that the independent accounting systems, policies and procedures meet the requirements of the board and government by adhering to CHA/MIS and CICA standards and guidelines and principles.
- Ensure the efficient operations of the accounting branch through the organization of the work, delegation, setting standards, reviewing operations, conducting meetings, general observations, and implementing the concepts and visions of the quality management program
- Establishes and directs systems for measuring and improving quality of departmental services
- Participates in Committees/teams as required
- Acts as committee chair on one in-house committee
- Participates on other committees as required
- Other duties as required
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- Provides phone system back-up
- Liaison role with external IT services
- Leadership Roles
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- Active participant on Leadership Team
- Demonstrates integration of Mission, Vision and Values into practice
- Active participant in Strategic Planning process
- Commitment to excellence and moving the organization forward
Leadership Competencies Required
- Leading Others as demonstrated by the ability to establish focus, to provide motivational support, fostering teamwork, empowering others.
- Managing Change as indicated by the ability to demonstrate support for innovation and for organizational changes needed to improve the organization’s effectiveness
- Managing Others as demonstrated by the ability to work with others to coach and mentor them to develop their capabilities
- Managing Performance as demonstrated by ability to take responsibility for one’s own or one’s employee’s performance by setting clear goals and expectations, tracking progress against goals, ensuring feedback and addressing performance issue promptly.
- Communication as demonstrated by the ability to ensure that information is passed on to others who should be kept informed as well as the ability to express oneself clearly in conversations and interactions, in writing and to be able to plan and deliver conversations that have an impact and persuade their intended audience.
- Interpersonal Awareness as demonstrated by the ability to notice, interpret and anticipate others concerns and feelings and to communicate this awareness empathetically to others
- Influence Others as demonstrated by the ability to gain others’ support for ideas, proposals, objectives, projects and solutions
- Building Collaborative relationships as demonstrated by the ability to develop, maintain and strengthen partnerships both internal and external to the facility
- Customer Service Orientation perspective as demonstrated by the respectful, positive manner in which one responds to expressed concerns and the strong desire to find resolution and meet people’s needs
- Information Gathering as demonstrated by the ability to identify information needed to clarify a situation and using skillful questioning to draw out information from reluctant sources
- Thinking abilities including analytical, forward, conceptual and strategic abilities to enable one to tackle a problem, anticipate implications and consequences, find effective solutions and planning for the future direction of the Home
- Initiative to identify what needs to be done and take action before being asked or the situation requires it
- Results oriented to enable one to focus on the desired results, sets challenging goals and meeting or exceeding them
- Thoroughness as demonstrated by ensuring that one’s own work, the work of employees and all information collected and shared is complete and accurate. Ensuring that commitments are fulfilled
- Decisiveness as demonstrated by the ability to make difficult decisions in a timely manner
- Self Confidence
- Stress management
- Personal Credibility
- Flexibility
Position Specific Competencies, Skills & Abilities
- Sound knowledge of financial management concepts and systems.
- Ability to effectively use personal computers, including word processing and spreadsheet programs.
- Ability to think creatively, develop policies, terms of reference, implementation plans and result evaluations.
- Ability to execute plans, seeking and implementing imaginative and effective ways to continually improve operations.
Educational Qualifications
- Professional designation required.
Experience Required
- Minimum of three years management experience at the senior level, preferably in health care.