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Senior Financial Manager

Employer
Royal Surrey NHS Foundation Trust
Location
Guildford
Salary
£58,972 to £68,525 a year
Closing date
26 Apr 2024

View more

Profession
Other Health Profession
Grade
Band 8B
Contract Type
Permanent
Hours
Full Time
Health Care Partners Limited (HPL) is a leading healthcare company that provides a number of services and solutions across the Surrey Heartlands health economy. Our vision is to support the delivery of exceptional healthcare through our partnership working and we are now looking for a Senior Financial Manager to join the team and work closely with the existing teams to drive business to the next level.

We are looking for an ambitious and high performing Senior Financial Manager to provide finance leadership and expert advice to HPL directorates and divisions within the Royal Surrey NHS Foundation Trust.

Working closely with (and in the HPL Executive team, and Royal Surrey NHS FT operational teams), the post-holder will ensure that finance is understood, embedded and part of the daily management of all areas across the organisation. The post-holder will ensure that approval processes and frameworks are distributed, understood and adhered to.

The post-holder will directly manage a small team to deliver a best in class, outward facing, customer focused and value-added financial management service to the organisation including planning, budgeting, reporting, forecasting, business case development/financial analysis, to support business cases and the planning and reporting of cost improvement programmes, to the highest standards whilst consistently meeting deadlines.

Main duties of the job

To support HPL in delivering the financial strategy and key financial goals through the provision of high quality financial management, financial control and planning and advice and support. This involves strategic, organisational and operational discussion, analysis and reporting to enable the efficient and effective use of resources.

To prepare annual budgets and monthly forecasts for the HPL including providing challenge to service assumptions.

To lead, enhance and further develop the Finance Business partnering to help drive financial improvement within existing and new services.

To prepare and review business cases ensuring that all costs / benefits are fully understood and that decisions on new initiatives are taken with full knowledge of the financial implications.

To ensure that the HPL financial direction is robust and fit for purpose. Constructively and positively challenge all aspects of the HPL financial and business performance.

Provide assurance to senior management, executives and board through robust evidence, enquiries, accuracy and challenge.

Provide support to budget holders to enable them to manage risk and to plan

To provide financial leadership and guidance in delivering HPL and Royal Surrey Trust wide programmes concerned with improved productivity, quality and efficiency programmes.

Manage and develop the financial management team workforce

About us

Royal Surrey NHS Foundation Trust is a friendly, supportive, busy but welcoming acute and community Trust that is ambitious about developing our services and your career.

Our compassionate, caring and friendly colleagues make up our Royal Surrey family and are at the heart of what we do. We all have a passion for learning, continuous improvement and excelling together through innovation, research and development. There are over 4,500 members of our Royal Surrey family.

We are clinically led and provide joined up care by bridging the gap between hospital and community services alongside regional specialist cancer care. Our main acute hospital site is in Guildford with community hospital sites at Milford, Haslemere and Cranleigh. We provide adult community health services in the community and homes across Guildford and Waverley.

We have received an overall Good rating from the CQC with Medical care (including older peoples care), End of Life Care and Maternity services being deemed Outstanding by the CQC. We are investing in our colleagues through our health and wellbeing programme and a commitment to supporting professional development as well as investing more than �45 million in our physical environment and new equipment in the next few years.

There has never been a better time to join us.

Job description

Job responsibilities

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.

Person Specification

Qualifications

Essential

  • - Professional qualification in accountancy (CIMA, ACCA, CIPFA).
  • - Evidence of having kept technically up to date since qualification.
  • - Registered and active Continuing Professional Development


Experience

Essential

  • - Expert knowledge of the NHS Finance regime
  • - Knowledge of Payment by Results and NHS Contracting


Desirable

  • - Expert knowledge of performance reporting and performance management
  • - Expert knowledge of financial and accounting procedures and legislation


Any attachments will be accessible after you click to apply.

C9384-24-0399

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