Financial Analyst (FMG/PA 2)

JOB PURPOSE

Reporting to the Principal Finance Officer, the Financial Analyst is responsible to monitor and evaluate the Ministry’s public bodies financial performance and operations, including cash and banking, determine the financial costs and feasibility of the Ministry’s capital A and B projects so as to ensure that the limited resources are:

  • allocated to its priorities;
  • expenditure is kept within the voted provision;
  • the entity’s finances are managed efficiently and effectively in accordance with the public finance, legal and policy framework.

 

KEY OUTPUTS

  • Cash flow Projections;
  • Expenditure of Ministry monitored and reviewed;
  • Financial operations of Ministry monitored and evaluated;
  • Requests from portfolio entities analysed;
  • Monthly and annual financial statements reviewed;
  • Financial Analysis Reports produced;
  • Technical Advice
  • Status Reports

 

KEY RESPONSIBILITIES

Management/Administrative Responsibilities

  • Participates in the development and preparation of the Strategic, Operational Plans for the Division;
  • Contributes to the development of the annual Work Plans for the Division;
  • Prepares individual annual Work Plan;
  • Participates in the Quarterly and Annual Performance Reviews to assess the achievements of the Finance and Accounts Division;
  • Provides the Principal Finance Officer (PFO) with periodic budget variance reports on portfolio entities;
  • Provides assistance on technical accounting issues raised by portfolio entities;
  • Provides regular reports to the PFO on financial and accounting issues in respect of the portfolio entities, including rating them on the accuracy and timeliness of their reports as well as on their financial performance;
  • Reports to the PFO issues of concern in cash management.

 

Technical/Professional Responsibilities;

  • Monitors, and reviews expenditure of the Ministry to ensure that it is within the limits of the budget;
  • Assists in the preparation of the Appropriation Accounts;
  • Ensures the timely submission of the monthly expenditure statements by portfolio entities within the statutory deadline;
  • Reviews the accuracy and adequacy of the Ministry’s monthly and  annual financial statements based on cross checks, data manipulation and using all information and knowledge of the portfolio available;
  • Monitors and evaluates Ministry’s operations including procurement, cash and banking activities;
  • Analyses request from portfolio entities;
  • Analyses requests for operation of new bank accounts;
  • Analyses requests for investments;
  • Analyses requests for Imprest or increase/decrease to credit ceiling;
  • Monitors compliance with laid down fees and charges;
  • Analyses entities monthly revenue financial statements;
  • Undertakes financial analysis to allow the PFO to provide comments on Cabinet submissions, draft bills etc;
  • Analyses capital projects being undertaken by the Ministry of Health and Regional Health Authorities by applying financial indicators and ratios e.g. Cost Benefit Ratio, Internal Rate of Return etc;
  • Carries out “sensitivity analysis” to determine the impact that changes in the value of basic parameters will have on project performance;
  • Prepares cash flow projections for all projects and compares against actual performance in order to determine variances;
  • Undertakes variance analysis and prepares reports for submission to the Principal Finance Officer and the Director, of Project Planning and Maintenance;
  • Coordinates the preparation of project submissions and compile the Ministry’s benefit for Capital ‘A’ and ‘B’ programmes;
  • Monitors project performance to ensure that funds are utilized in accordance with project agreements and implementation plans;
  • Prepares statements of achievements and other reports for multi-lateral agencies and specified government agencies;
  • Ensures the preparation of cash status reports for all Capital A and B projects;
  • Provides advice on financial matters to the Principal Finance Officer;
  • Makes recommendations to facilitate the appropriate responses to audit queries raised by the Auditor General, Contractor General and the Internal Auditor;
  • Prepares monthly status report on activities undertaken.

 

C.)  Other Responsibilities:

  • Performs other related duties that may from time to time be assigned by the Principal Finance Officer.

 

PERFORMANCE STANDARDS

  • Cash flow Projections prepared in a timely manner and in keeping with set guidelines;
  • Expenditure of Ministry monitored and reviewed to ensure that expenditure is within the voted provision and has been applied so as to achieve the desired outcomes and value for money;
  • Financial Operation of Ministry including procurement, cash and banking activities, monitored and evaluated in keeping with set standards and guidelines;
  • Requests from portfolio entities analyzed on a timely basis, ensuring mechanism for efficient and effective cash management;
  • Monthly and annual financial statements reviewed on a timely basis for accuracy and adequacy;
  • Financial Analysis Reports produced are timely, accurate, transparent and complete;
  • Technical Advice provided are sound and
  • Monthly Status Reports on activities undertaken are sound and accurate.
  • Confidentially, integrity and professionalism are displayed in the execution of duties and personal conduct.

 

Core

  • Excellent financial and analytical skills;
  • Excellent time management and organisational skills;
  • Excellent planning and monitoring skills;
  • Good presentation, oral and written communication skills;
  • Client orientation, good interpersonal and influencing skills;
  • Keen eye for detail;
  • Sound personal and professional integrity;
  • Ability to cope well under pressure and meet tight deadlines
  • Maintains a high level of productivity and self-direction.

 

Technical

  • Knowledge of Financial Ratio Analysis and Applications;
  • Knowledge of cost/benefit analysis;
  • Sound knowledge of the principles and practices relating to accounting by multi-lateral organisations/agencies;
  • Sound knowledge of the Financial Administration and Audit Act (FAA ACT) and other Government Financial Regulations;
  • Competence in the use of spreadsheets and various computerized accounting systems. including computer applications

 

MINIMUM REQUIRED EDUCATION AND EXPERIENCE

  • ACCA Level 2 or equivalent qualifications;

                           OR

  • BSc Degree in Accounting or Management Studies from a recognised tertiary institution plus at least three (3) years post qualification experience in Management Accounting, Cost Accounting and Financial Accounting

                           OR

  • Postgraduate qualifications in accounting with two (2) years experience;
  •  Training in Project Management.

 

SPECIAL CONDITIONS ASSOCIATED WITH JOB

  • Required to work beyond normal working hours, whenever the need arises.

 

AUTHORITY TO:

  • To recommend capital projects based on analysis of financial data.
  • To access accounting records.

 

Interested persons may apply in writing, accompanied by resumes. Applications must be submitted no later than Thursday, February 27, 2020 to:

Director
Human Resource Management & Development
Ministry of Health & Wellness
10A Chelsea Avenue
Kingston 10
jobs@moh.gov.jm

Please note that responses will be sent to short- listed applicants only.