Job responsibilities
Main Tasks and Responsibilities:
Lead and develop the Finance & Procurement department so that it provides financial management of the Trust with the advice, information, and expertise to enable the provision of the best possible standards of healthcare.
Financial Control Systems
Review and maintain SFIs and internal financial control procedures to ensure these operate as designed and provide appropriate levels of assurance on accuracy, completeness, and anti-fraud measures. Ensure that strategic financial risks are identified and properly risk assessed and that adequate arrangements for managing them are in place
Statutory Accounts & Returns
Ensure statutory accounts and accounting returns are properly produced from accounting records in accordance with NHS Manual of Accounts and International Financial Reporting Standards (IFRS) in accordance with published timescales. To work with the Trusts external auditors and to ensure implementation of any audit recommendations.
Financial Reporting
To prepare reports for the Board and Trusts managers to an agreed timetable on all key financial performance indicators, e.g., income and expenditure, financial duties, balance sheet, capital, charitable funds, and cash flow. Best professional practice should be used in presenting this information, making it clear and concise.
The post holder must exercise their expert & professional judgement in the interpretation of the highly complex, highly contentious, and emotive financial information and give advice to the Executive Director of Finance based on that judgement.
The post holder will ensure that the Trusts financial reporting and budgetary control system reflects the implementation of Service Line Management/Patient Level Costing. You will develop variance analysis and financial management reports and KPIs to enable managers and budget holders to understand the cost and drivers impacting on financial performance
Responsibility for the review, upgrade, update, and implementation of the directorate facing financial and accounting systems.
Monitoring Information - for NHSE/I & Department of Health.
The post holder is required to report on financial issues to the NHSE/I and Department of Health on behalf of the Executive Director of Finance. All such reports must reflect a true and fair view of the organisations financial position. The Deputy Director of Finance & Procurement must ensure from financial information is timely and accurate, all projections are consistent with the facts and his/her own professional judgement.
Financial Strategy
The post holder will advise the Executive Director of Finance, Estates & Facilities on the formulation of long term and medium-term financial strategy and then continuously monitor it against performance. The financial strategy should ensure best possible use is made of the organisations resources.
The post holder is responsible for co-ordinating the preparation of the Trusts Annual Business Plan and Revenue Budget (circa £590 million) and Capital Investment Programme and providing such information as is required to support the negotiations of contracts with local and national commissioners and external organisations.
The Deputy Director of Finance & Procurement will manage the highly complex and contentious task of ensuring capacity and workforce plans are expressed in the revenue budgets of the Trust and that the detailed requirements of the Department of Health and other regulatory bodies for the preparation of Operational Plans as set out in the Operating Framework are fully complied with.
Financial Control & Reporting
The post holder is responsible for providing the Executive Director of Finance, Estates & Facilities, Chief Executive and Trust Executive Leadership Team with reports on the financial performance of the organisation.
Such highly contentious, emotive, and highly complex reports should give actual expenditure compared to income and also compared with budget to date and a forecast for the year based on budget managers projections. The post holder is expected to give their judgement and interpretation of the figures providing advice to senior management on action being taken to resolve issues and whether any further action is needed.
The post holder will act as budget holder for the finance directorate including authorisation of expenditure and monitoring of budgets. To include Corporate responsibility for Trust financial resources and physical assets.
The post holder should ensure that a programme of training and support is in place for budget managers and clinicians to enable them to deliver their budgetary responsibilities.
Financial Accounting
The post holder is responsible for the provision of a strong financial accounting function to support the provision of accurate and timely financial information internally and externally to the organisation.
The post holder is responsible for the maintenance of internal financial control.
Treasury Management
The post holder is responsible for ensuring there is sufficient cash to meet the needs of the Trust whilst achieving Public Sector Payment Policy requirements.
The post holder is responsible for ensuring that the external financing limit is not breached and for the operation of bank and PGO accounts and the management of the investment of funds in excess of requirements.
The post holder is responsible for ensuring that the Trust has a working capital facility with a major clearing house bank and responsible for setting and maintaining effective credit control policies and for ensuring debtor levels and turnover do not exceed agreed limits.
Asset Management and Capital Investment
The post holder will ensure that robust policies and procedures are in place for the effective stewardship of the Trusts assets and management of the Trusts Capital Investment Programme within the Trusts Capital Departmental Expenditure Limit
The post holder will be a member of the Trusts Estates Strategy Board, with responsibility for the preparation and delivery of the Trusts Capital Investment Programme and for ensuring that the plan reflects the level and type of investment needed in order to meet the Trusts strategic and operational objectives. This will include the management of the Trusts PFI hospital contract.
The post holder will ensure there are sufficient resources to finance the Capital Investment Programme and where necessary will apply for loan funding from the National Loans Fund, subject to the approval of the Trust Board.
Charitable Funds
The post holder should ensure that standards of reporting, financial control and auditing apply to Charitable Funds as to the main functions of the organisation. These need to be applied in an effective and efficient manner in order to maximise the benefits to patients of the donations received.
The post holder has a duty of care on behalf of the Trustees to ensure any expenditure falls within the terms of the Trust deed and that the requirements of the law, of the Charity Commission and the HM Revenue and Customs are met.
Financial Services
The post holder ensures the timely and accurate payment of Trust employees; the payroll service is delivered in partnership with Sherwood Hospitals NHS Foundation Trust. The post holder also ensures the provision of effective cash management, Accounts Receivable and Accounts Payable services, delivering timely and accurate payment to all suppliers of goods and services to the Trust.
Staff Management and Development
Ensure that an effective Staff Development programme is in place and that succession planning is carried out on a regular basis, consistent with the intention of building a world class finance function.
Maintain the highest professional standards and ensure all qualified accountants maintain their CPD requirements on behalf of the Executive Director of Finance, Estates & Facilities.
Conduct annual appraisals with all direct reports and ensure that all staff within department of responsibility receive annual appraisals as well as keep up to date with mandatory training requirements.
Procurement
The post holder is responsible for the oversight of the development and implementation of a clear procurement strategy within the Trust. The Procurement service should be a customer focussed offering, delivering quality, value and fit for purpose goods and services. The post holder should ensure that the Trust approach is up to date with regard to procurement law and delivered in a manner commensurate with sustainable sourcing.
Contracting
The post holder is responsible for the oversight of the Trusts contracting function, including the development of the Trust Contract Strategy and approach to healthcare contracts. They will have overall responsibility for ensuring contracting advice, planning and support is provided across the Trust with regard to contracting, and for influencing contracting approaches that include new models of care.
Business Development, Efficiency and Sustainability
Responsibility for:
The identification and response to business opportunities.
Preparation of service models to influence purchasers, engage partners and identify issues for rectification to enable the Trust to be in the most advantageous position.
Manage a Trust wide register of Intellectual Property developed internally, identifying and driving the commercial opportunities.
Developing, leading, and managing a highly effective Trustwide programmefor the Trusts financial improvement programme (FIP) as a single, central support structure, designed to provide governance and assuranceand oversight within the Trust.
