WEST LONDON MENTAL HEALTH NHS TRUST FINANCE DIRECTORATE JOB DESCRIPTION

Transcription

1 WEST LONDON MENTAL HEALTH NHS TRUST FINANCE DIRECTORATE JOB DESCRIPTION POST: RESPONSIBLE TO: Head of Finance Deputy Director of Finance GRADE: 8C JOB SUMMARY This is a third tier management role within the Finance Directorate with the post holder forming part of the senior team of the Directorate. The post holder will lead their division in providing financial advice to all appropriate internal and external stakeholders. The role will manage the finances of the Trust in the short and medium term as well as promoting Service Line Reporting and payment by results across the organisation identifying those areas requiring Management and Clinician action. A key part of that agenda is the FT application. The postholder will be expected to provide the financial modelling input and returns relating to the Foundation Trust application and develop financial planning and reporting for the Trust to support its strategic direction and meet monitoring requirements. The post holder will be expected to undertake the role of expert in the management accounting, costing, and cost improvement field. The individual will provide significant input into the planning and achievement of current and future financial targets, overseeing the development and production of all financial management reports including service line reports. The post holder will need to make judgements and decisions on a range of complex financial situations and be responsible for leading and developing a department of professionals ensuring a comprehensive and efficient service is provided to Directors, senior managers, budget holders and external stakeholders at all times. The role will develop financial forecasting using intelligence and forensic accounting methods. Business decisions will require a clear and firm understanding of the principles supporting the relevant risk rating regime as well as the Trust s Balance Sheet and cash flow. In conjunction with the Head of Finance Modernisation analysing costs and benchmarking services to develop cost improvement plans will form a significant element of the role. The post holder will provide the necessary input and management into the Trust s cost, price and activity information development including significant involvement in

2 the Trust s implementation of any business intelligence software. The post holder will be expected to provide input into the development and implementation of financial policies, which facilitate the achievement of the Trust s business objectives and statutory duties. The Head of Finance will deputise for the Deputy Director of Finance as appropriate. DIRECT REPORTS Management Accounts and costing Team for corporate services Systems accountant Professional supervision of the CSU Heads of finance KEY RELATIONSHIPS Internal CSU Heads of Finance Director of Planning & corporate affairs Business managers Heads of Service and clinical leads Finance staff at all levels of the organisation HR staff Estates staff Information staff Service leads for PbR External SHA Monitor (if required) DH FT lead Appointed Consultants Audit (internal and external) Trust Commissioners, FT leads in other Trusts PRINCIPLE DUTIES Foundation Trust Application 1. Be the Trust expert user of the FT application model. This includes working with the Information department to ensure the necessary activity information is available for the model. 2. Develop the future financial model in the light of the output from the iterations of the integrated business plan taking account of service developments, estate and workforce changes planned. 3. Undertake the sensitivity analysis on the financial projection based on identified financial risks. Identify key drivers in the model that could adversely impact on the Monitor risk rating. 4. Analyse Trust financial reporting to identify changes needed for Foundation Trust. Develop and test revised reporting to meet new requirements. 5. Together with the Head of Financial Services review and revise current cash

3 management and reporting to ensure fit for purpose when licensed 6. Ensure required assessor reports are produced to agreed timetable once the Trust is licensed. 7. Participate in reviews of the overall finance structure to identify any changes to the Trust s financial management arrangements to ensure successful transition to FT status Financial Management 1 Responsible for delivery of financial management and planning. This will consist of management accounts, costing scenarios, income reporting, Service level agreements, service line reporting and research fund accounting. 1. The post holder will be the specialist in financial management and planning issues and will maintain and develop an in-depth expert knowledge of the Trust s accounting processes, procedures and systems in order to deliver the teams objectives. 2. As a member of the Directorate s senior finance team, to ensure that the provision of the financial management and planning is agreed and acceptable to the Director and Deputy Director of Finance and Executive Team of the Trust. 3. The post holder will ensure the team provide the analysis to enable financial performance evaluation of the Trust. This will include forensic financial analysis and investigation to understand and highlight key issues for attention and action. 4. To ensure the planning and co-ordination of the delivery of timely and accurate budgetary control reporting including variance analysis, to all levels of management within 10 working days of month end. Financial information will be tailored to meet the differing needs across the Trust. 5. To draw up timetables and schemes of work to ensure accurate, timely and compliant financial information will always be provided. This will include monthly budgetary information until such time that service line reporting can be effectively produced. 6. To ensure all Finance Managers provide accurate and relevant financial information to budget holders and senior managers according to agreed timetables, together with appropriate interpretation, advice and forecasting. 8. To ensure the complete operation of an effective budgetary control system for all relevant Directorates, providing budget holders with accurate and reliable feedback on their financial performance to support the delivery of a balanced financial position at the end of each financial year. 9. To continually explore ways to improve the budgetary control system at all times ensuring best practice. 10. To ensure that CSUs develop and act as effective businesses units within the Trust, ensuring cost efficiencies are delivered and margins maximised. To develop strategies that will maximise the Trust s financial position through effective co-ordination between income, expenditure and business management. 11. To provide significant input to ensure the planning, preparation and delivery of the Trust s financial strategy and business plans for the year are achieved.

4 12. To provide management information to allow annual budgets to be set and to manage their movements thereafter. Effective budgetary control to be employed across the Trust by producing regular, meaningful and accurate income and expenditure information. 13. To manage and co-ordinate and Trust s annual budget setting and business planning process in accordance with agreed deadlines. In parallel, to ensure processes and timetables meet the delivery of balanced delegated budgets for the beginning of the financial year. 14. To ensure guidance is prepared and issued to managers on all budget setting objectives, issues and processes, ensuring formal sign-off of agreed budgets by Service Directors. 15. To report and advise the Director and Deputy Director of Finance and Executive Directors on financial management issues affecting the Trust. 16.To provide business planning support and input into the Trust s corporate planning process. 17.Develop the formulation of appropriate budget setting methodologies and ensuring these are accurately recorded in the financial ledger system. 18. To identify and deal with internal control risks, taking adequate and appropriate action as necessary. 19. To identify and evaluate the key issues and risks impacting on the Trust s financial strategy. 20. To develop financial sensitivity analysis tools to allow the Trust to understand the impact of achieving the risk ratings. 21. To maintain accurate delegated budgets as a result of pay awards, service changes, virements and new developments. To manage the Trust s central reserves and report on the impact of funding allocation issues. 22. To advise the Deputy Director of Finance on all financial issues related to income performance, monthly variances in the income position and all issues relating to funding assumptions and levels of risk. In particular for those income streams not covered by legally binding contracts. 23. In conjunction with the Head of Finance Modernisation become the Trust s expert on service line reporting, ensuring that regular benchmarking of services is undertaken, that appropriate training and documents exist to allow Service Directors to understand results and that techniques are constantly reviewed to improve the process and understanding. 24. In conjunction with the Head of Finance Modernisation and CSU heads of Finance model for the Trust Board the impact of PbR on their services. Identify cost drivers that managers can influence to ensure their service remain viable 25. To provide financial input for research bids ensuring work is undertaken on an efficient basis and meets the deadlines. Thereafter, to ensure management of research funds so the Trust receives all monies and accounts for all resources correctly.

5 26. To work closely with service and other Finance staff on areas such as service development, performance management, business planning, service reviews and key performance indicators. 27. To ensure that sound financial systems exist for the complete, accurate and efficient recording of transactions and their adherence to Standing Financial Instructions (SFIs). This will include well documented systems and procedures through a series of procedure notes, revised as and where necessary to maintain relevance and promote best practice. 28. Act as lead expert on the financial Trust wide and corporate contracting issues for the Trust and report to the Deputy and Director of Finance and Chief Executive to recommend ways to maximise the Trust s income. 29. Centrally control and record SLAs across the Trust across the Trust, whilst the CSU heads of Finance lead the SLA negotiations for their area there is need for this post to ensure the information is centrally co-ordinated, monitored and reported. 30. Where necessary, interpret, formulate and implement financial plans to achieve NHS reforms as they arise. 31. Provide financial advice to external organisations such as Local Authorities. 32. To work closely with the Head of Financial Services to ensure the effective closedown of the Trust s accounts at year-end. Communication 1. Ensure all corporate service budget holders have the opportunity to access dedicated financial support and that a visible presence is achieved by the arrangement of regular meetings, updates, presentations. 2. Deliver reports and financial information as required to the Executive Board of Directors and Finance Committees. 3. Assist in the maintenance of an appropriate financial culture within the Trust, thus promoting awareness of relevant financial procedures and constraints. 4. Ensure relationships are maintained and communication across the Trust on financial issues is regular, appropriate and informed. 5. To ensure provision of clear guidance and direction on complex and routine financial issues to CSU Finance leads. 6. Advise Trust managers on a range of highly complex and routine financial as well as financial governance issues. Ensuring communication of the information is in understandable terms to allow management decisions to be made effectively. 7. Regularly provide presentations and advice on strategic financial issues to business meetings, delivering formal, highly complex and at times sensitive financial information.

6 Management 1. Although not the line manager for these staff ensure the CSU Head of Finance appropriately manages the day-to-day aspects of the financial management team and provide professional and managerial leadership to staff. This will be achieved by co-ordinating and facilitating effective and timely working within tight deadlines realised through the setting and monitoring of standards and objectives in the course of regular staff supervision sessions. 2. Promote the development of staff skills, knowledge and motivation ensuring a professional and efficient service to internal and external stakeholders. 3. Responsibility for the recruitment, training and discipline Management Accounts staff. 4. As a senior Trust manager, to contribute in Trust-wide working groups as necessary and to participate in formal processes such as Directorate management meetings and disciplinary procedures. 5. Ensure clear guidance and direction on complex and routine financial issues is provided to all Finance Managers. 6. In conjunction with other teams within the Finance Department and Trust Corporate services, continually review current practices, procedures and systems to ensure that the most optimum use of resources is achieved in order to meet current and future demands. 7. To manage own day to day workload and the work of the management accounts team to achieve agreed objectives working within professional policies without reference to the Director of Finance. 8. To provide training across the Trust and within the department as required. 9. To develop high levels of competence in the teams by providing training, mentoring and formal appraisals. To provide personal mentoring to staff as a result of identifying a development need. 10. To ensure that all finance trainee members of staff are given appropriate training and assistance to be able to satisfactorily fulfil their professional training requirements. 11.Ensure disciplinary issues are conducted in a supportive and professional manner. 12. To promote appropriate external financial qualifications in line with the Finance Department s training policy. 13. To act as a Finance Directorate authorised signatory for BACS, cheque, payroll and money market transactions. 14.To act as delegated budget holder with responsibility for authorising staff positive reporting, agency timesheet records and ordering non-pay expenditure. Thereafter to monitor the budget statement as a delegated budget holder. 15. To participate in the Finance department staff recruitment and selection process.

7 Other 1. Maintain an effective working relationship with members of the Finance Department, staff within the organisation and external contacts in order to deliver a professional service focused on achieving the production of timely, reliable and useful financial management information and advice. 2. To take a lead role in the research and development of new initiatives which affect the division, ensuring the Trust continues to benefit from advances in business technology. 3. To have lead responsibility for setting policy direction both across the Trust and for the division on issues such as budget setting policies, costing, service pricing and business development. 4. Provide expert advice on new financial management and planning techniques that can drive the organisation forward, and support the decision making process, and to implement those techniques. 5. To discuss and agree recommendations from Internal Audit for the enhancement of internal controls and procedures in own areas of responsibility. 6. To have a specialist knowledge of accounting standards (including IFRS) and an expert understanding of financial legislation and policy relating to the Foundation Trust regime. 7. Ensure the implementation and participation in developments associated with the current NHS reform programme are recognised and adopted where necessary. 8. To keep technically up-to-date and maintain a continuing professional development plan in accordance with professional requirements. 9. To maintain and enhance the professional reputation of the Finance Directorate to internal and external stakeholders. 10. Support the Deputy Director of Finance across a range of duties by acting on their behalf as directed and in accordance with Trust needs. 11. To be fully aware of the Trust policies on the Code of Conduct of staff including the Nolan Principles, Whistle Blowing and Fraud. 12. This job description is intended as a guide to the main responsibilities of the post and not as an exhaustive list of duties and tasks. The post holder may be required to undertake other duties appropriate to his/her grade, which are not listed above, at the direction of his/her manager. The job description may be amended from time to time after consultation with the post holder.

8 HEAD OF FINANCE PERSON SPECIFICATION CRITERIA ESSENTIAL DESIRABLE ASSESSMENT METHOD QUALIFICATIONS Qualified CCAB Accountant Evidence of up-to-date CPD. A Educated to degree level or Technical Skills development. equivalent. Commercial Experience at a senior level Staff management FT application experience Development of Business Cases NHS senior management experience Management of staff Experience of the Service Level Agreement process EXPERIENCE. Sophisticated use of complex financial models including sensitivity analysis preferably for a large organisation 5 years post qualification experience in leadership role. Management of annual budget setting process within a large and complex organisation KNOWLEDGE Sound understanding of principles of Payment by Results Understanding of Foundation Trust Application process and the Foundation Trust financial regime High standard of technical skills and knowledge of NHS finance regime. Able to lead diverse team. Able to work on own initiative and make decisions. Good understanding of NHS policy and strategy A A/I

9 SKILLS +OTHER REQUIREMENTS Strongly numerate good oral and written communication skills. Able to analyse interpret and utilise complex financial and non financial information for reporting, planning forecasting and costing purposes Advanced Excel Other Microsoft package to reasonable standard Confident, self starter Able to manage competing deadlines and prioritise a heavy workload Able to travel between Trust sites Commitment to personal delivery of agreed outcomes Personal and professional credibility. Good negotiating and influencing skills A/I Assessment Key A Application form I Interview T Test Review date: Reviewed by: