Principal Accountant: Banking

Key responsibilities

Strategic Awareness

• Inform a strategic vision of the service that enables the council to meet its future challenges, fostering a culture of innovation and continuous improvement.

• Contribute towards the development and implementation of the Council’s financial strategy

• Work closely with all stakeholders to ensure best use of limited financial resources, providing support where needed

• Identify financial risks and opportunities as and when they arise, inform finance managers and collectively consider options to mitigate risks or exploit opportunities.

• Proactively identify trends and changes in the operating environment (e.g. legislation, technology, policy, etc.) that could financially impact service delivery; provide advice and collaborate on potential solutions

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Financial Management

• Draw on knowledge of Council services and the related financial complexities, to support the provision of systems and procedures that enable effective budgetary control;

• Ensure that variations and emerging financial pressures are drawn to the attention of appropriate managers, and support the development of options and plans for their resolution with the finance management

• Support finance management in advising on funding, financial management and accounting requirements

• Promote a culture which empowers budget holders and supports the delivery of value for money services and knowledge of key cost drivers

• Support the Council’s commercial arrangements to better ensure strong price competition and transfer of risks through contracts with third parties

• Support finance managers to advise on investment and funding strategies including investment risk and performance

• Ensure members of the team, directors and budget holders receive the financial management training required to be effective in their roles, including awareness of Financial Regulations and financial approval requirements prior to taking decisions

Financial Reporting

• To be responsible for the efficient and timely completion of specific tasks within the annual closing of accounts process.

• Ensure statutory and other returns are submitted accurately and on a timely basis. Prior to submission ensure senior management sign off and produce an appropriate supporting paper setting out the approach to development of the return.

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Financial Planning and Budgeting

• Support the development of a longer-term council-wide financial position and appropriate financial strategies with the finance manager

• Provide support for the medium term financial planning process

• Develop appropriate financial models and analytics to determine financial impact of future service demands, changes in legislation and other factors affecting resource requirements

• Support the attainment of alternative sources of funding that contribute towards identified funding gaps

Customer Focus

• Act as a junior financial advisor and service delivery partner, providing strategic support and constructive challenge through emerging negotiation and influencing skills

• Contribute to the delivery of a high performing, customer focused finance service that is proactive and creative, looking for ways to shape and influence service decisions and taking joint responsibility for the outcomes achieved

• Engage, communicate and influence within the council, across partners and with the wider local and central government community towards a unified public service approach

• Together with the finance manager, foster the development of social value and community-based organisations to reduce demand and help communities more independently support themselves

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Compliance

• Ensure that all activities within the service comply with the council’s constitution, Standing Orders, financial regulations, health and safety and safeguarding responsibilities and that effective systems operate within the service to manage performance and risk.

• Provide support to finance managers on the interpretation and implementation of legislative and regulatory requirements relating to the CIPFA codes of practice, Treasury Guidance, and relevant financial legislation

• To be responsible for effective liaison with external and internal audit

• Support an effective system of financial controls across the organisation with adequate review and coverage within the annual internal audit plan

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Leadership and Management

• Lead and effectively motivate staff by providing coaching, mentoring, training, professional development opportunities, and appropriate performance management

• Develop credible and responsive trainees and finance officers who are respected for their knowledge base, expertise and customer focus

• Enable and encourage a flexible working environment

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Change and Improvement

• Proactively seek and contribute towards implementing internal process improvements

• Support opportunities for council-wide transformation and alternative service delivery models

• Contribute to the creation of a digital culture within the service by embracing technology in every-day activities and actively seeking digital improvement opportunities in support of a service-wide digital strategy

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To achieve grade PO6, the post holder must demonstrate:

• Passed finalist of a CCAB body (or CIMA)

• Proactively seek and identify commercial opportunities that generate income and provide innovative solutions to service delivery challenges

• Leading on the successful delivery of a specialist area including on-going demonstrable improvements, as required by your manager.

• The successful transfer of knowledge and the development of staff to improve and enhance the quality and effectiveness of the finance service

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To achieve grade PO7, the post holder must demonstrate:

• Leading a review and evaluation of corporate and departmental systems and procedures and implementation of decisions to deliver a successful outcome

• Covering at the appropriate senior level in the absence of or on behalf of the Finance Manager.

• Assist in the development, implementation and review of change management programmes to deliver continuous improvement

• Delivering in a key role as part of a major/specialist project involving a multi-disciplinary team and taking responsibility for delivering key outcomes.

• Leading a small team (via direct or matrix management) in projects to improve processes and ways of working across the finance team and council wide budget holders

• Striving for excellence in service delivery and a record of delivering successful service improvements.

• Provide expert specialist advise and to act on behalf of the Council on high-level complex matters, ensuring the provision of advice and guidance to all levels of staff, which is appropriate, accurate and timely, in relation to all aspects of the finance function in accordance with the Council’s policies and procedures and to promote awareness of good financial practice and control

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Resources and Financial management

Ensure effective Financial Management, cost controls and income maximisation in an ever changing environment, fluctuating demands and priorities. Ensure resources are well managed and effectively deployed to the best possible effects assuring value for money in all activities.

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Compliance