Senior Financial Manager

at  Royal Surrey NHS Foundation Trust

Business Planning and Forecasting Lead the annual budgetary cycle for the HPL using specialist knowledge and expert systems resulting in the establishment of a robust approved financial plan. Manage and review the preparation of the HPL short and longer term business plans ensuring: o that the budgets are agreed by the Executive leads/budget holders and are within the control total o that the budgets take account of the associated resource and capacity implications including workforce o that the budgets take accounts of any relevant CIPs targets o that capital expenditure and its revenue implications are considered Ensure that all assumptions contained within HPL business plans have been constructively challenged and potential risks and further opportunities are high-lighted and quantified. Ensure that all customers receive robust, accurate and clear financial information, ensuring that budgets set reflect the cost of delivering contracted services and other agreed performance targets. Provide professional expert guidance to the HPL exec team and when required to challenge assumptions to ensure the development of robust financial forecasts Monitor and review forecasts and ensure that plans are adequately implemented and monitored from the start of each year, and to ensure a consistent approach for new plans developed during the year.
Prepare detailed bridging statements reconciling year-on-year performance and validating key movements. Maintain a detailed schedule of normalising adjustments to ensure the underlying trend analysis and year-on-year comparison can be clearly reported. Accounting and Financial Reporting Manage the provision of financial management information, analysis and advice to the leadership and management team and other senior staff throughout the organisation. Set expectation and timetable to ensure all accounting tasks (ledger input, payroll journal input, recharges, accruals, bonus calculations, prepayments etc.) are input / investigated / produced in accordance with the accounting timetable and meeting internal and external deadlines.
Ensure that all reporting is produced in line with the monthly/quarterly/ annually financial timetable. Ensure the provision of an executive reporting pack to Boards and performance review meetings ensuring key financial issues, run rate changes, forecast changes, risks and opportunities are high-lighted and clearly articulated. Ensure information is clearly and professionally presented in a format which is customer focused and tailored to recipients. Lead on the development and monitoring of the long term financial model (LTFM) for HPL Lead on the year-end financial management processes and timetable, assisting with audit and regulator enquiries, and providing timely information professionally and on request Ensure post-holders competency extends to facilitate other duties within Finance.
E.g. covering priority tasks when wider team members are absent or require additional support. (this may include responsibility for the Financial Reporting and team as required) Productivity and Efficiency Lead the planning and reporting of the Cost Improvement Programmes (CIPs) for the HPL and ensure that schemes have been fully evaluated, quality impact assessed and can be tracked. Reconcile CIP delivery with year on year comparisons and distinguish between cost avoidance, cost reduction, income generation and increased use of capacity.
Work closely with directorate leads and colleagues to ensure savings are captured, monitored, forecast and deliverable to plans through monthly/weekly controls. (lead on the report risks to the board with mitigations/proposals) Develop and maintain benchmark information. Promote a culture of innovation and productivity within the HPL and discourage an incremental and budget focused approach for CIP planning. To improve efficiency, review own and team working practices, identify areas for improvement and frequently propose service and procedural changes.
Ensure best practice with regard to local working practices is shared with the other team members. Business Cases and new developments To be the finance lead for developing business cases, ensuring that all costs, benefits, income and expenditure have been identified and are fully understood and are presented clearly. Carry out post implementation reviews once a business case has been approved and implemented to confirm whether the proposal delivered the benefits it promised. Use specialist techniques and expert knowledge such as cash flow forecasts and net present value calculations to evaluate business cases and procurement tenders, to ensure value for money.
Ensure an evidence based approach to all decisions within the HPL. Interpret and compare costs over a range of financial options. Ensure Business Cases have an objective method of measuring benefits and lead a systematic approach to reporting and supporting delivery expected benefits. Assess the financial risk and analyse the financial impact of strategic developments on a short, medium and long term basis.
To lead on the provision of financial advice and support to HPL with regards to service development proposals. Lead on financial aspects of business expansion planning (such as cost models and business cases) and engage in strategic research using qualitative analysis, benchmarking, best practice and budget information, to inform executive level decision making. Income Maximisation Maximise Income receivable to the HPL by: - o Providing expert advice and training on cost modelling. o Working with the HPL colleagues to ensure signed Service Level Agreements (SLA) are in place and SLAs and prices are regularly reviewed and updated Minimise Income lost through poor data capture, incorrect coding, and pricing and contractual penalties through effective reporting.
Expert Advice & Training Provide expert advice to the HPL on any change in local or external policy, legislative changes or opportunities and risks that may have an impact on the HPL financial performance. Research and network effectively to ensure the post holders knowledge and awareness of the impact of local and external policy changes and opportunities and risks is maximised. Provide a comprehensive training programme across all areas of financial and business activities tailored to the requirements of the HPL. Financial responsibilities Ensure that all HPL staff members with financial responsibilities are guided and supported at all times, when carrying out their financial responsibilities.
Provide financial leadership to new financial initiatives. Ensure that all HPL staff with specific financial responsibilities are trained to read and interpret financial budget reporting information. Identify ways to reduce costs and enhance value across the HPL. Take an active role in working with the HPL management teams and other managers in developing long term plans to improve productivity, quality and efficiency savings Ensure that aged debt/creditor information is regularly reviewed and actions are taken to reduce the level of aged debt/creditor balances.
Ensure robust systems are in place to control stock levels. Ensure that all managers are aware of and act in accordance with Standing Financial Instructions. Management and Leadership Responsible for the line management and performance management of direct report, including staff recruitment, development, training, annual appraisals/objectives, PDPs, performance and capability management, professional study and/or CPD requirements and induction for new team members. Identify own education and training requirements, addressing any developmental needs as required in order to ensure best practice is maintained within the highest professional standards.
Understand the required competencies for the role and in conjunction with the Finance Director, address any gaps with training and learning and development activities. Co-ordinate the workload and set the objectives and priorities for direct line report. Take the lead in delivering specific department objectives and developments, including championing these across the organisation Plan and organise programmes of work to deliver on a weekly, monthly and annual basis. Manage and prioritise own workload and that of others in order to achieve agreed objectives, in accordance with both the published monthly and annual timetables.
This may be to meet internal requirements and also in response to external requests. Deputise for the Finance Director as required Other duties to include Any other duties consistent with the nature and grade of the post. Develop and improve relationships with other departments by ensuring quick and effective response to queries and complaints. Seek to develop productive ongoing relationships with stakeholders.
Organise resources to deliver agreed work plans, adjusting priorities to reflect to changing circumstances and needs. Meet individual targets and performance indicators in respect of delegated responsibilities

Please refer the Job description for details