Scheme Financial Manager MMH

Role Purpose

Oversee the financial health of a medical scheme by managing the scheme’s fiscal activities, ensuring compliance with regulation, and overseeing risk management, while leading the finance function to support strategic goals and operational efficiency, focusing on solvency, cost control, and member value.

• Chartered Accountant or equivalent postgraduate
• Registered Chartered Accountant with South African Institute of Chartered Accountants
• Minimum 5 years of experience in Finance Management
• 3 years in a managerial role
• Relevant industry experience
• Knowledge of the Medical Aid Industry is compulsory
• Knowledge of International Financial Reporting Standards is compulsory

• Oversee all financial reporting to align with statutory and regulatory requirements, including the Medical Schemes Act and related regulations.
• Keep abreast of trends, Medical Schemes Act changes and best practice, assess their impact on the Scheme, and communicate implications to relevant stakeholders.
• Review and present the prepared financial information, including monthly management accounts, annual financial statements, and other relevant financial reports to internal and external stakeholders.
• Manage cash flow planning and financial instruments, and ensure the availability of funds.
• Review financial reports, monitor accounts, and prepare activity reports and financial forecasts.
• Oversee the Scheme’s fiscal activity, including budgeting, reporting, auditing, and statutory completion of tax-related material and submission thereof.
• Develop and monitor financial controls and accounting procedures.
• Communicate potential risks timeously.
• Oversee cash, investment, and asset management.
• Monitor financial risk and solvency ratio, and other key ratios.
• Facilitate appropriate insurance coverage.
• Champion initiatives to improve financial processes, controls, and reporting frameworks.
• Have a clear understanding of Scheme drivers that impact financial results, to apply to analysis and recommendations.
• Analyse and review past financial trends to assist Scheme with prediction models, forecasting, scenario testing and target setting, to drive Scheme results.