Finance Manager - Central Reporting
The Princess Alexandra Hospital NHS Trust
This job is now closed
The Finance Manager - Central Reporting will enhance and develop the reporting, data analysis and financial intelligence to the Finance team, wider organisation including divisional teams and external stakeholders.
The role is essential in supporting the Financial Management team in co-ordinating and developing reporting across finance, creating templates to ensure consistency and ease of consolidation across each divisional team, support timely FOI responses and a key resource for ad hoc work including (but not limited to) initial population of committee reports, and central resource to support on budget setting and forecasting and benchmarking collections.
Main duties of the job
The role includes specific responsibility for the regular and timely reporting of financial and non-financial performance management information.
To lead and support the senior team and Finance Business Partners with the Trust's Financial and Reporting Processes. Oversee the continuous development of the monthly reporting and budgetary cycle utilising bespoke and targeted analysis to aid understanding of any emerging risks and issues.
The role will also lead on the consolidation of the annual divisional financial planning and business plans.
Supporting the Head of Financial Services with all external ICS and NHSE monthly and annual returns including PQP (Patient, Quality and Productivity).
The role will also be involved in FOI (Freedom of Information), audit request co-ordination, ad-hoc projects and reports including (but not limited to) service developments and business cases, financial advice and longer-term financial planning.
The Princess Alexandra Hospital NHS Trust (PAHT) provides a full range of general acute, outpatient and diagnostic services at The Princess Alexandra Hospital in Harlow, the Herts and Essex Hospital in Bishop's Stortford, and St Margaret's Hospital in Epping.
We employ 3,500 staff and serve a local population of around 350,000 people living in west Essex and east Hertfordshire, centred on the M11 corridor and the towns of Harlow, Bishop's Stortford and Epping. Our extended catchment area incorporates a population of up to 500,000 and includes the areas of Hoddesdon, Cheshunt and Broxbourne in Hertfordshire.
This is an exciting time to join the finance team, as we are implementing a new finance system to modernise and move towards best in class. This is especially true in the areas of financial management and reporting where we want to provide a high-quality financial service both internally and externally.
The successful candidate will be joining our friendly Financial Management team to support the delivery of timely financial information, reports and analysis.
We offer hybrid and flexible working, a first-class office facility with parking, opportunity's for career progression and CCAB qualification study support.
Duties and responsibilities
Financial Reporting and Budgetary Performance
- Take responsibility for ensuring accurate production of monthly financial and performance management information, including overseeing the monthly management accounts, within the timescales determined by the region.
- Ensure that reports are of the highest quality by actively contributing to the quality assurance process and ensuring that key validations and reconciliations are completed.
- Ensure that a full suite of monthly management accounting financial reports are available to budget holders that are of a consistent format across the group.
- To report effective budgetary control to the Trust by producing regular, meaningful and accurate income and expenditure information for the Finance Business Partners.
- Provide financial management support, monitoring and reporting on reserves \ central codes.
- Develop and maintain the tools to enable divisional reporting, forecasting, budget setting including approved business cases and cost pressures. Summarise the detailed analysis into concise Trust wide management reports.
- Constantly review and evolve monthly reports and various executive and non-executive packs including automated completion where possible.
- Ensure that the monthly financial performance information is communicated to budget holders within the Division and that any issues raised are addressed in an appropriate, timely fashion.
- Support the presentation of the financial and performance information to the Division Management Team, Executive Directors, Operational Leaders and Senior Clinicians at a range of forums
- Design and development of the data to meet national requirements for financial returns relating to services provided within the remit of this role this includes external and internal reporting.
- Provide support for ad-hoc ICS\ICB and NHSE regional requests and reports.
- To develop subject and technical knowledge including accounting standards, agenda for change, payment by results and Trust income streams. To support and discuss the activity, income and expenditure position with clinicians and senior managers when required and liaising with the other teams within finance to enable accurate reporting and financial analysis.
- Co-ordinate reporting of monthly forecasts from each divisional team delivering a Trust wide financial position, deriving targeted and meaningful analysis alongside relevant summaries.
- Provide analysis to support with the PQP\efficiencies program across each divisional team and consolidated Trust position including monthly reporting and ad-hoc requests.
- To work closely with the Head of Financial Accounting to ensure the effective closedown of the Trusts accounts at year-end including involvement with analytical reviews and evidence for sample testing and controls, as well as co-ordinating audit related requests.
- Support the production of the statutory annual accounts including the provision of information and co-ordination of stock-takes across the Trust.
- Ensure that clear audit trails and working papers are maintained to demonstrate compliance with Trust financial procedures and International Financial Reporting Standards (IFRS).
- To ensure requests for FOI responses (particularly for Financial Management related data) are collated and reconciled to internal and externally reported information, and that they are completed within the guideline timeframe.
- Support the Head of Financial Management across a range of duties by acting on his/her behalf as directed and in accordance with Trust needs.
Analytical and Planning
- As a key member of the finance team supporting the FBP in developing the annual financial plans for Divisions and the Trust.
- Supervise the production of detailed consolidated forecast out-turn projections for each Division monthly. Where forecast out-turn deviates from plan, support the analysis and explanations of movements and subsequent actions. agreed by the Division.
- Support the FBPs in delivering financial sections of papers for the Divisional Executive Meetings.
- Utilising non-financial performance indicators to inform monthly reporting and forecasting.
- Contribute and support the annual financial planning process for the Divisions and Trust including identifying, co-ordinating and quantifying Service Developments, Cost Pressures, Cost Improvement Programmes (CIPs) and Capital Bids to support the annual objectives.
- Produce and maintain the systems used for budget setting (usually complex spreadsheets) for the Financial Management teams to populate, ensuring the integrity of the systems at all times. Produce summaries from the detailed data at a Trust wide level.
- To maintain accurate budgets as a result of pay awards, service changes, virements and new developments.
Resource Utilisation and Costing
- Support the production of business cases within divisions, including ensuring accuracy of the analysis and triangulation of complex data from a variety of sources and the application of recognised investment appraisal techniques.
Financial Policies and Procedures
- Support finance with the continued development of the finance function in response to national policy drivers, reporting requirements, requiring interpretation of financial and other legislation/policies.
- Contribute to the development of corporate financial policies, strategies and systems and embrace these as part of the day to day working. Identify opportunities to improve and develop system based working practices, taking a lead for the Trust if required.
- Assist with the design and implementation of a range of internal control mechanisms and financial policies across divisions to manage expenditure, and maximise income and reduce the risk of fraud and other losses.
- Pro-actively identify areas of where improvements in existing financial controls, policies and processes can be strengthened and improved, working across the finance department to propose and initiate appropriate changes.
- Be aware of and reflect the financial implications (reporting and analysis) to understand and identify the consequences of any changes in NHS guidance and national policies, for example Payment by Results, Agenda for Change.
- Ensure that Standing Financial Instructions (SFIs) are followed within the Trust, involving training and advising staff and monitoring compliance. Where breaches are discovered, ensure appropriate action is taken in compliance with Trust policies.
Staff Management and Training
- Maintain an up to date, in depth specialist knowledge, theory and experience of financial and accounting procedures, financial aspects of NHS legislation and NHS financial policies.
- Contribute to the development of a training strategy in financial and performance matters including regular presentations to key groups (e.g. junior doctors training, clinical directors training).
- Commitment to Future Focused Finance including supporting on accreditation process and finance\benchmarking returns.
- Participate in the training of financial and non-financial staff in financial and performance matters.
- Assist with budget holders training and ensure a thorough understanding of the Trusts Corporate Governance requirements as set out in the Standing Orders, Standing Financial Instructions and Scheme of Delegation.
- Ensure that the process of financial management considers the need to enhance the quality of care provided within the Trust.
- Constantly review, update and upgrade information systems for managing the financial and accounting processes with the finance department.
- Conduct audits designed to improve financial and accounting services.
- Ensure that the process of financial management provides complete, timely and consistent information, in line with recognised best practice.
- Pro-actively contribute to the planning, development and implementation of Financial and Operational IT systems, for example the Electronic Staff Record, Integra\SBS Oracle and PQP reporting tools.
- Represent the Trust at relevant National or Regional Forums as required.
This job description may be subject to change according to the varying needs of the service. Such changes will be made after discussion between the post holder and the manager. All duties must be carried out under supervision or within Trust policy and procedure.
The job description is not intended to be exhaustive and it is likely that duties may be altered from time to time in light of changing circumstances.
The post holder might be required to work across the Trust at any time throughout the duration of his/her contract, which may entail travel and working at different locations.
Systems and Equipment
All Microsoft applications, especially Excel.
Experience of financial systems, currently Integra, moving to SBS Oracle Financials in Nov-23.
Decisions & Judgements
- Acts in the best interest of the Trust at all times
- Communicates and collaborates effectively with other colleagues in the Trust
- Support and enable staff development and their continuous professional development
- Provides constructive challenge to all their teams work to ensure it continues to develop to meets the needs of the Trust.
- Actively engages and develop the Finance Teams modernisation agenda and culture of delivering a world class finance service.
Skills and Knowledge
Education and Qualification
Applicants must have current UK professional registration. For further information please see NHS Careers website (opens in a new window).