About this role
Job summary
The postholder will be responsible for providing the Trust with a professional financial management service ensuring that financial information is produced in accordance with the Trust's requirementsfor both planning and performance management purposes.The postholder will be responsible for maintaining an up to date financial plan and ensuring that budgets are set in accordance with the Trust's requirements.
They will ensure that all decisions on changes to service provision within the Trust are made in the full knowledge of both the long andshort term financial consequences.
The postholder will be responsible for the Trust's Financial Management function. Providing overall professional leadership and management to the Trust's Divisional Business Advisors and their teams.
The post holder is responsible for the management and co-ordination of financial management department resources to produce accurate, complete and timely periodic internal and external financial reports and monitoring returns. The post holder is responsible for the presentation of this information and the provision of effective and pertinent analysis of the financial reports to support the senior finance team in effectively identifying and managing risk and delivering financial performanceobjectives.
Main duties of the job The main duties of the role are Lead financial planning, budgeting, reporting and forecasting. Drive financial performance and delivery of savings programmes. Provide strategic financial leadership and challenge across Care groups and divisions. Ensure strong financial governance, controls and compliance. Support Board decision-making and the Trust's long-term financial sustainability.
About us
University Hospitals of North Midlands NHS Trust is one of the largest and most modern in the country. Based across two sites, Royal Stoke in Stoke-on-Trent and County Hospital in Stafford, we are proud to serve around three million people and we're highly regarded for our facilities, teaching and research. We are the specialist centre for major trauma for the North Midlands and North Wales.
All of our employees make a valuable contribution regardless of role here at UHNM and we are proud of our wide range of development packages aimed at ensuring that everyone has the opportunity to fulfil their true potential.
UHNM create and encourage a culture of inclusion, providing equal opportunities for career development that are fair and transparent. We are committed to being a diverse and inclusive employer and foster a culture in which all staff feel valued and respected. In return we ask all of our employees to make a commitment to the values, co-created by or staff, patients and carers, and that unite us as a Trust.
At University Hospitals of North Midlands NHS Trust we know that investing in, supporting and developing our staff has a direct impact on the quality of care that we deliver. Our employees are as important as our patients and the population that we serve.
Job description Job responsibilities
Key Areas/TasksFinancial PlanningResponsible for the production of the annual financial plan for the Trust, ensuring that the organisation meets its statutory obligations in this regard.To be responsible for managing the Trusts annual budget setting process. This includes:
Developing Trust budget setting and budget maintenance policies and processes Ensuring that budget setting policies are implemented consistently across all divisionsTo co-ordinate and consolidate information for inclusion in the financial plan relating to Cost Pressures, Business Cases and CIPs
Financial ReportingDevelop and produce monthly consolidated finance reports for the Trust Board, ExecutiveCommittee and Finance and Efficiency Committee. Co-ordinate and structure divisionalsubmissions which support these reports. Ensure reports produced reflect best practice infinancial reporting. The reports should highlight the main financial issues and risks, andlinks between the financial performance and activity, workforce and other key operational drivers. Plan and manage the monthly reporting process ensuring adherence to deadlines by Financial Management and the wider finance department. Institute any necessary remedial actions in cases of slippage.Manage the budgetary control process by preparing Trust wide budget reconciliations on a monthly basis and maintaining detail for inclusion in the financial plan for the following year(s).
Identify significant variances from plan and ensure these are investigated as required so as to support the means of controlling expenditure.Ensure that detailed financial forecasts and projections are prepared by Financial Management for inclusion in monthly divisional reports and consolidation into an overall Trust forecast. Produce consolidated financial forecasts for the current and following year toensure that future financial challenges are understood and are communicated within the organisation.
To co-ordinate and lead the process of financial performance management in the divisions and departments of the Trust ensuring the delivery of financial objectives, the effective identification and management of risk and that timely and effective escalation processesare operated as appropriate.
To advise the Deputy Director of Finance on the availability of resources to discharge the Trusts financial management responsibilities, maintaining reserves and contingencies as required.Ensure arrangements, resources and processes are in place and maintained to deliver a professional modern financial management service to meet user requirements and that all decisions on changes to service provision within the trust are made in full knowledge of both the long and short term financial consequences.
Provide scrutiny and challenge to the divisions on their financial results and forecasts to ensure that they are accurate and are consistent with the Trusts long term financial strategy. Ensure that significant financial issues in the divisions are fully understood by the corporate finance team and if necessary escalated appropriately via performance reviews or directly to the Board, its members or subcommittees
To ensure the development of financial strategies, financial monitoring and financial risk management associated with education contracts (SIFT, MADEL and Research and Development).To support the development and implementation of Service Line Reporting in the clinical divisions.To support the development and implementation of Cost Improvement Plans within the trust. To be responsible for ensuring that all CIPs are validated and transacted correctly in the financial ledger.To ensure that the Divisional Activity and Income plan and performance is understood within financial management team. Working closely with the contracting and income team to provide clear information for performance reporting.To ensure the information being provided by the Divisional Business Advisors to support Trust Business cases is robust and gives clear information on the financial and activity impact with regard to the Trust Financial Plan.OtherSupport the production of financial proformas and monitoring reports for the Trusts regulators to local and national time scales. Respond to ad hoc requests from external organisations (e.g. Department of Health,NHSI/E,ICBs)Ensures effective arrangements are in place for providing financial support and advice on all matters to non-financial staff within the Divisions enabling them to understand, plan, develop and deliver quality healthcare whilst operating within agreed resource allocationsand observing SFIs and procedures.
To lead the development and delivery of budget holder and non-financial staff training arrangements, financial skills and capability across the organisation to secure longer term financial sustainability and autonomy across the Trust. To support the development and implementation of financial policies and procedures across the Trust.To provide information to ensure that relevant Freedom of Information (FOI) requests can be responded to accurately and in line with prescribed timescales.To lead on responses and ensure implementation of the financial management departments Internal and External audit recommendations and to relevant Counter-Fraud initiatives.Support the year end accounts process by producing information and analyses for the external auditors and answering their queriesTo ensure procedure notes are in place and up to date in respect of Financial Management activities.To ensure systems of internal control are in place across the Financial Management department and to undertake regular reviews and implement necessary changes to maintain the integrity of the controls.Ensuring the Finance ledger and reporting systems are reviewed and updated to ensure they are fit for purpose for the provision of Financial Management information.Personal/Professional DevelopmentTo take every reasonable opportunity to maintain and improve your professionalknowledge and competence To participate in personal objective setting and review, including the creation of apersonal development plan and the Trusts appraisal process.
Person Specification
Qualifications Essential
Qualified
Experience Essential
5 years post qual
Leadership Essential
Exp
Disclosure and Barring Service Check This post is subject to the Rehabilitation of Offenders Act (Exceptions Order) 1975 and as such it will be necessary for a submission for Disclosure to be made to the Disclosure and Barring Service (formerly known as CRB) to check for any previous criminal convictions.
Certificate of Sponsorship Applications from job seekers who require current Skilled worker sponsorship to work in the UK are welcome and will be considered alongside all other applications. For further information visit the UK Visas and Immigration website (Opens in a new tab).
From 6 April 2017, skilled worker applicants, applying for entry clearance into the UK, have had to present a criminal record certificate from each country they have resided continuously or cumulatively for 12 months or more in the past 10 years. Adult dependants (over 18 years old) are also subject to this requirement. Guidance can be found here Criminal records checks for overseas applicants (Opens in a new tab).
UK Registration
Applicants must have current UK professional registration. For further information please see NHS Careers website (opens in a new window).
Employer details Employer name University Hospital of North Midlands NHS Trust
Address Royal Stoke Hospital
Newcastle Road
Stoke On Trent
ST4 6QG
United Kingdom
Employer's website https://www.uhnm.nhs.uk (Opens in a new tab)