Band 8B Head of Financial Accounts

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Band 8B Head of Financial Accounts

£59,083 - £67,760 per annum*

Job Description

Location | St Mary's Hospital

Responsible to | Financial Controller

Accountable to | Chief Financial Officer (CFO)

Hours per week | 37.5

* Inclusive of London weighting

Apply Today

imperial@allenlane.co.uk

Contact

Brooke Cooper

020 3056 1390

Imperial College Healthcare NHS Trust Values

We are absolutely committed to ensuring that our patients have the best possible experience within our hospitals. We are looking for people who are committed to delivering excellent patient care, whatever their role, and who take pride in what they do. We place a high value on treating all patients, customers and colleagues with respect and dignity, and seek people who strive for excellence and innovation in all that they do.

We value all of our staff and aim to provide rewarding careers and benefits, fulfilling work environments and exciting opportunities.

Kind: We are considerate and thoughtful, so you feel respected and included.

Collaborative: We actively seek others’ views and ideas, so we achieve more together.

Expert: We draw on our diverse skills, knowledge and experience, so we provide the best possible care.

Aspirational: We are receptive and responsive to new thinking, so we never stop learning, discovering and improving.

Aim of the Role

The Head of Financial Accounts is a key role in the Finance Directorate, with responsibility for overseeing and managing the financial accounting team, provide expertise in complex technical areas including cash-flow forecasting, capital accounting, VAT, and lead the production of the statutory annual accounts, ensuring the application of financial reporting standards.

Key Working Relationships

Chief Financial Officer
Deputy CFOs
Associate Director of Finance
Financial Controller
Business Partners and Budget Holders
Other finance staff
External Bodies (e.g. Imperial College, suppliers and other NHS bodies)
Internal and External Auditors
Department of Health
VAT and Other Advisers

Key Result Areas

To deliver high quality accounting services which achieve targets for timeliness accuracy and financial control
To maintain the integrity of the financial systems within the Trust, to develop financial policies and practices as required, and liaise with external and internal audit and counter-fraud
To lead the month end process for financial accounts and reporting to external agencies
To lead the production of the Trust Annual Accounts and manage the external audit process
To oversee the agreement of balances (AOB) quarterly and annual processes

Organisational Structure

Main Tasks and Responsibilities

Strategic Responsibilities

Interpret and understand in-year financial data so as to identify trends and areas of concern.

Work with finance colleagues to develop in-year financial strategies necessary to meet the Trust’s financial requirements.

Provide effective management and control so that the Trust meets its statutory financial duties.

Operational Responsibilities

Provide appropriate and timely financial information and advice to senior managers and Directors of the Trust so as to enable the Trust to fulfil its financial responsibilities. (i.e. Completion of monthly FIMS returns)

Ensure the accurate and satisfactory completion of statutory accounts and returns. Ensure that the Annual and Year End monitoring returns are made in accordance with the agreed timetables.

Ensure the Trust complies with current VAT and HMRC requirements.

To ensure that the financial and other systems of the Trust meet all statutory requirements, through the development and implementation of appropriate policies and procedures (including Standing Financial Instructions) and through appropriate audit and control.

Report on the Trust compliance with statutory financial duties and targets (CRL, EFL and BPPC).

Support the cash forecasting process to minimise the requirement for any cash support and implement initiatives to improve working capital balances.

Manage the provision of expert financial advice and financial technical support to members of the Trust’s capital investment group.

Lead the month-end reporting process in accordance with the agreed timetable and standards.

Lead the Annual Accounts process and ensure work is completed within agreed timescales and complies with relevant policies, procedures and legislative requirements.

To oversee the agreement of balances (AOB) quarterly and annual processes, ensuring accuracy and timeliness of reports and data.

Be responsible for ensuring the integrity of the data in the ledger.

Quality assure the Trust’s monthly finance performance reports.

Be responsible for maintaining specifications for standard reports to take into account any internal/external requirements.

Manage key investment and lending arrangements.

Follow best practice in managing balance sheet accounts, in particular working capital, control accounts and inventories.

Control systems and Statutory responsibilities

Constantly review the integrity and development of systems for managing the financial and accounting practices within the organisation.

Contribute significantly to the streamlining of accounting processes and accounting systems, particularly with respect to the automation of routine tasks.

Ensure the Trust’s policies procedures, and Standing Financial Instructions are strictly adhered to.

Support the trust wide cash forecasting process, ensuring accuracy of the forecast and lead the implementation of initiatives to improve working capital balances.

Implementation and development of discrete policies and procedures.

Liaise with and ensure that internal and external audit recommendations relating to financial procedures and systems are implemented.

Liaise with internal and external auditors to provide relevant information, appropriate accommodation and any other resources required to perform their duties effectively.

Work closely with external audit to ensure the Annual Accounts are delivered in accordance with the national timetable and without qualification.

Leadership

Plan and organise own work schedules and that of others to ensure activities are completed within agreed weekly, monthly and annual financial timescales and comply with Trust policies and procedures.

Develop and sustain professional standards within the Financial Accounts team and wider Financial Services function.

Manage and develop the Financial Accounts Team to ensure that the Trust receives high quality accounting and transactional financial services and achieves best value for money from its financial systems and services.

Appraise and develop staff through on the job training, professional academic studies, mentoring and Personal Development Planning.

Ensure that managers are supported to lead, motivate and develop staff. Ensure that managers have been trained in core policies and procedures. Promote a culture where people feel empowered and accountable for service improvement. Ensure that any staff performance and disciplinary issues for the team are managed appropriately.

Education and experience

Hold a professional accountancy qualification (CCAB) or have at least 3 years’ financial accounting experience, with significant continuing professional development and significant experience.

Have advanced theoretical and practical experience in a range of accounting areas, financial computer systems and knowledge of accounting legislation.

Training

Develops, delivers and facilitates training sessions for non-finance staff ensuring an understanding of financial policies and procedures of the Trust and the financial environment of the Trust.

Keep up to date with national and local FSD (Finance Staff Development) strategy, initiatives and opportunities. Help create a culture of learning and staff development and monitor departmental progress against the training strategy, policy and plan.

Take responsibility for the induction and training of finance staff.

Ensure the continued personal development of team members in line with Trust policy.

Communications

Liaise with internal and external auditors in audits designed to improve financial services.

Work closely with external audit to provide relevant information, accommodation and other resources required to perform their duties effectively, and ensure the Annual Accounts are delivered in accordance with the national timetable and without qualification

Provide advice on financial issues to non-financial managers.

Other Specific Roles

Deputise for the Financial Controller as required

Carry out any other reasonable duties required.

Provide support and cover, as required, to the Finance Directorate

Contribute towards the overall development of the Finance Directorate.

Contribute towards special projects as required throughout the Trust.

Scope and Purpose of Job Description

A job description does not constitute a ‘term and condition of employment’. It is provided only as a guide to assist the employee in the performance of their job. The Trust is a fast moving organisation and therefore changes in employees’ duties may be necessary from time to time. The job description is not intended to be an inflexible or finite list of tasks and may be varied from time to time after consultation/discussion with the postholder.

Band 8B

ADDITIONAL INFORMATION

Person Specification

Key

Attributes measured through:

Application form (App)
CV (CV)
Assessment (Ass)
Interview. (Int)

Education

Essential

Expert knowledge of financial and accounting procedures, financial reporting standards, and financial & other aspects of relevant legislation, gained through (App-CV)
Professional Accountancy Qualifications (CCAB or equivalent) or have three years’ relevant financial accounting experience (App-CV)
Knowledge of accounting treatment of Balance Sheet areas, VAT, Inventory, Capital and Cash Management (App-CV)

Desirable

Further relevant specialist training in technical skills and NHS financial management (App-CV)
Further training in formal project management approaches (App-CV)

Skills / Abilities

Essential

Expert user of relevant financial systems and advanced skills in Excel (Ass-Int)
Able to solve complex, multi-dimensional issues, requiring concentration for long periods of time and analysis of complex data (Ass-Int)
Able to work autonomously with the skills to make decisions independently (Ass-Int)
Able to prioritise work for self and others, and to react quickly when decisions are required urgently (Ass-Int)
Able to reflect on own performance and recognise areas of development (Ass-Int)

Desirable

Specific experience of using eFinancials, Business Objects, Qlikview and other specific ICHT financial systems (Ass-Int)

Experience

Essential

Providing high quality accounting services and expert financial advice and support to senior financial staff (Ass-Int)
Managing month and year end financial processes in a timely and accurate way (Ass-Int)
Leading and managing high-performing teams, and developing staff competences and behaviours, including managing difficult conversations (Ass-Int)
Managing a wide range of internal and external stakeholder relationships, including negotiating outcomes to complex problems (Ass-Int)
Experience of developing policies and practices to guide financial accounting, and of delivering training to service users (Ass-Int)

Desirable

Significant experience of working within the NHS (Ass-Int)
Experience of working on capital projects (Ass-Int)

Communication Skills

Essential

Presents complex, sensitive or contentious information to Directors and senior managers (Ass-Int)
Conveys financial concepts clearly and persuasively to non-financial managers. (Ass-Int)
Clarity of expression verbal and written (Ass-Int)
Advises and persuades senior budget holders on financial issues (Ass-Int)

Physical Qualities

Essential

Meet the requirements of the role with any reasonable adjustments

Values

Essential

Demonstrable ability to meet Trust values (Ass-Int)