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Financial Analyst

Role Purpose:
The Financial Analyst supports financial planning, analysis, and reporting to help the hospital achieve its operational and strategic goals. This role provides critical insights through data analysis, budgeting, forecasting, and financial modeling, enabling informed decision-making across clinical and administrative departments.

Key Responsibilities of Financial Analyst

Financial Planning and Analysis

• Assist in preparing annual budgets, periodic forecasts, and multi-year financial plans;
• Conduct variance analysis between actual and budgeted financials; highlight key drivers and recommend corrective actions;
• Develop financial models to assess the financial impact of hospital projects, service expansions, and process improvements;

Reporting

• Prepare monthly, quarterly, and annual financial reports for management and external stakeholders;
• Analyze revenue streams (e.g., patient services, insurance reimbursements) and expense categories to track financial performance;
• Provide timely and accurate reports on Key Performance Indicators (KPIs), especially those related to healthcare delivery efficiency;

Cost Management and Revenue Analysis

• Analyze costs across departments to identify savings opportunities without compromising patient care;
• Support the Finance Manager in cost allocation models, patient profitability studies, and service line margin analysis;
• Assist in reimbursement analysis (insurance contracts, Packages) to optimize revenue;

Compliance and Risk Management

• Ensure financial processes comply with healthcare regulations, hospital policies, and accounting standards;
• Participate in internal audits and support external audits by providing necessary financial data and analysis;
• Help monitor financial risks and recommend strategies to mitigate them;

Stakeholder Support

• Collaborate with department heads, clinicians and other key staff to gather financial data and support operational decisions;
• Assist in preparing financial presentations for senior management;
• Any other duties as may be assigned.

Qualifications and Experience of Financial Analyst

• Bachelor’s degree in Finance, Accounting or a related field;
• CPA, ACCA, or CFA certification;
• Minimum 5 years of experience in financial analysis, preferably in healthcare or insurance;
• Strong understanding of healthcare finance principles, costing methods, and third-party reimbursement mechanisms is preferred;

Key Skills and Competencies:

• Excellent analytical and problem-solving skills;
• Proficient in Microsoft Excel, financial modeling, and ERP/accounting systems;
• Strong communication skills, able to explain complex financial data to non-financial users;
• High attention to detail and strong organizational abilities;
• Ability to work independently and collaboratively in a fast-paced healthcare environment;
• Integrity, discretion, and commitment to ethical financial management.

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