The Director of Financial Operations will take responsibility for all technical financial reporting, decision making and analysis; as well as the development of effective financial control environment and the compilation of monthly management returns and end of year accounts for statutory and/or regulatory purposes. The post holder is required to provide expert, high level strategic support in many areas, and as such will have a wide-ranging remit. 

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It is expected that the main work areas will include:

• Analysing and interpreting technical financial reporting standards, new statutory legislation and technical guidance and providing advice to the Trust on the impact of these. Accountable for setting Trust-wide accounting policy based on standards and legislation.

• Presenting financial and business information to a variety of stakeholder groups;

• Acting as financial lead for Statutory External and Internal Reporting including the production of the Statutory Annual Report and Accounts, Financial returns to NHS Improvement and DHSC, and monthly Finance Committee and Board Reports.

• Active management of the financial position of the organisation, particularly related to liquidity and credit risk.

• Medium and long-term strategic financial planning and modelling including providing technical accounting advice to support significant developments and business cases and assessing the impact of these plans Trust-wide.

• Ensuring Trust Standing Financial Instructions, Code of Financial Procedures and Trust-wide Financial policies and procedures are developed, implemented and maintained to minimise Trust risk.

• Overall responsibility for the management of Capital Finance, Financial Accounts, Treasury Management, Payroll and Financial Processing functions, ensuring that the functions of these departments are effectively and efficiently delivered.

• Main Trust Finance contact with DHSC, External and Internal Auditors, Trust’s Financial and Investment Institutions and Payroll Provider.

• Identification, measurement and management of impact of risk, and minimising exposure to risk. Accountable for producing risk-based Trust-wide controls in line with best practice and ensuring compliance with these controls.

• The post holder is accountable for the oversight of the Counter Fraud Specialist.

• Oversight of the development of databases and financial systems to be implemented within Finance, or interface with Finance systems ensuring the integrity of the Trust’s computerised financial ledger system is maintained and appropriate information can be reported.

• Deputising for the CFO as appropriate.

 

Strategic Business Planning and Risk Management

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• Implementation and delivery of a financial strategy for the Trust within the context of the Trust's strategic direction and taking account of national resources and policy.

• Development and maintenance of systems to identify forward-looking financial risks to the organisation, and to effectively quantify and communicate these risks to the CFO and board and mitigate against them. This would include:

  • Performing sensitivity analysis and modelling the impact of Strategic Capital Plan,

  • Finance Lease proposals and analysis of off/on balance leases and

  • Changes in assumptions and financial risks and appraising various different finance options including the impact of IFRS.

• Completion of the 1-5 year NHSI plan, using complex analytic and modelling techniques which are adequately risk assessed, looking at the financial position, including capital, cash flow, balance sheet, the Trust’s financial KPIs and risk ratings under NHS Improvement’s SOF framework.

• Providing Strategic Financial Modelling and development of significant capital financial business cases across the organisation as well as managing the transitions when bringing on significant projects or mergers.

• Performance management of External Contracts with various suppliers e.g. NHSP, Agency SLAs, Leasing contracts; as well as performance Management of contract payments and dispute resolution.

• Negotiation of Working Capital Facility Terms and banking relationships and monitoring of these ensuring compliance with Strategic Plans of the Trust and reducing Trust Risk Exposure.

 

Policy Development and Implementation

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• Development, implementation and maintenance of efficient and effective policies and procedures within Finance and Trust-wide to ensure accurate and reliable information and records are maintained, and ensuring established Finance procedures are in place and are adhered to throughout the Trust and that Trust policies are adhered to by Finance staff.

• Along with other senior colleagues, acting as lead for the Finance Directorate on the development and implementation of local and/or national projects as may be required, and develop policies and procedures ensuring that they comply with relevant financial guidance and legal requirements, and having regard to the Trust’s financial interests.  Put in place processes to ensure compliance with financial content of policies.

• Ensuring that the Trust’s Standing Financial Procedures and Code of Financial Procedures are developed and maintained to minimise financial risk to the Trust and ensure that standing orders and standing financial instructions are complied with in the Trust.

 

Systems Development & Management

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• Finance Lead for the development of financial databases and systems to be implemented within Finance or Trust wide as well as for other computerised systems which will interface with the Finance systems, ensuring that appropriate control and monitoring arrangements are put in place to ensure the system is implemented according to project timelines and meeting key targets allowing accurate and timely reporting to Trust staff and external organisations.

• Ensuring the integrity of the Trust’s computerised financial ledger system (including interfaces from the debtors system, creditor payments system, payroll system, NHS procurement system and pharmacy system) and ensuring that finance systems are fit for purpose, with system capabilities regularly reviewed and adapted in anticipation of emerging requirements including relevant accounting standards and guidance. 

• Finance lead in developing financial reports to provide appropriate information for the Trust’s Trial Balance, Balance Sheet and subjective analysis of expenditure and income.

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Payroll and Pensions

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• Overall responsibly for these areas and will ensure that high standards of accuracy, efficiency and effectiveness are maintained through review and management of senior managers, staff and reporting.

• Finance lead and contact with regard to outsourced Payroll Contractor and responsible for contract negotiations, compliance and key performance indicators management.

• Providing specialist advice and guidance and acting as Finance and Payroll lead with respect to Payroll/HR projects e.g. Pensions Auto-enrolment.

 

Technical Accounting Issues

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• Analysis and interpretation of new statutory legislation, providing specialist advice and guidance to the Trust and updating and maintaining technical knowledge of finance issues (e.g. Payroll, asset valuations, operating leases, impairments etc.) as well as providing VAT advice and liaising with the Trust’s external advisor and HMRC to ensure VAT recovery is maximised across the capital programme, revenue contracted out services and Trading VAT.

• Providing advice to the Chief Financial Officer on the impact of changes in financial policy initiated by NHS Improvement, the DHSC and Treasury and developing and implementing Trust internal procedures as appropriate.

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Statutory External and Internal Reporting

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• Financial lead for the production of the statutory accounts in line with Trust accounting policies and project manage the year-end accounting process. Liaise with external auditors on technical issues and ensure that information and comprehensive working papers are available as required.

• Interpreting and applying requirements of International Financial Reporting Standards and the Annual Reporting Manual issued by NHS Improvement together with supplementary guidance and timetables issued by the DHSC.

• Completion and validation of NHS Improvement and/or DHSC financial monitoring returns including Income and Expenditure, Balance Sheet, Cash flow, Capital expenditure, ensuring that the returns are presented to the Board for approval, together with appropriate supporting information, before their submission, ensuring that they are consistent with the financial records and internal reports.

• Providing financial reports, including analysis and interpretation, for the Finance committee and Audit committee meetings including actual and forecast Income and Expenditure, Cash Flow, Balance Sheet performance, Capital Expenditure reports and variances, aged debtor and creditor summaries, Cost Improvement Plans against target and Key Financial Ratios.

 

Financial Accounting, Treasury Management and Processing

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• The post holder has overall responsibly for these areas and will ensure that high standards of accuracy, efficiency and effectiveness are maintained through review and management of senior managers, staff and reporting.

 

People Management and Performance

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• Lead, coach and manage the performance of the team in line with good people management practices. Ensuring excellence is recognised and underperformance is addressed.

• Participate in regular performance appraisal meetings and ensure each member of the team has a clear set of objectives and development plans.

• Ensure the team is compliance with all statutory, mandatory training together with any professional training requirements, ensuring they are up to date and fully compliant.

• Manage team absences including sickness in line with Trust policy ensuring the appropriate return to work meetings occur, e-roster is updated and productivity is at keep to the highest possible level.

• Identify and fill any vacancies that arise within the team in line with the Trust’s recruitment policy and process.

• Identify talent and support the internal talent management process in order attract and retain and succession plan for your people.

• Review skills mix at regular intervals in order to identify any potential opportunities to maximise resource utilisation / allocation, ensuring job descriptions are kept up to date.

• Ensure overall wellbeing of the team is maintained. Continuously support in improving the morale of the team and implementing a culture of zero-tolerance for bullying and harassment.

 

Other

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• Undertake all mandatory training in line with Trust policies and procedures

• Take personal responsibility for own professional development

• Maintain own professional competence and credibility

• Adhere to relevant professional code at all times

 

General

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• The post holder has a general duty of care for their own health, safety and wellbeing and that of work colleagues, visitors and patients within the hospital, in addition to any specific risk management or clinical governance accountabilities associated with this post.

• To observe the rules, policies, procedures and standards of King's College Hospital NHS Trust together with all relevant statutory and professional obligations.

• To live and role model the King’s Values of:

  • Understanding you

  • Inspiring confidence in our care

  • Working together

  • Always aiming higher

  • Making a difference in our community

• To observe and maintain strict confidentiality of personal information relating to patients and staff.

• To be responsible, with management support, for their own personal development and to actively contribute to the development of colleagues.

• The post holder has an important responsibility for and contribution to infection control and must be familiar with the infection control and hygiene requirements of this role.

• These requirements are set out in the National Code of Practice on Infection Control and in local policies and procedures which will be made clear during your induction and subsequent refresher training. These standards must be strictly complied with at all times.

• This job description is intended as a guide to the general scope of duties and is not intended to be definitive or restrictive. It is expected that some of the duties will change over time and this description will be subject to review in consultation with the post holder.

 

Safe Guarding

 

The Trust takes the issues of Safeguarding Children, Adults and addressing Domestic Abuse very seriously. All employees have a responsibility to support the organisation in our duties by;

• attending mandatory training on safeguarding children and adults

• familiarising themselves with the Trust's processes for reporting concerns 

• reporting any safeguarding child or adult concerns appropriately

 

Infection Control Statement

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The post holder has an important responsibility for and contribution to infection control and must be familiar with the infection control and hygiene procedures and requirements when in clinical areas.

 

The post holder has an important responsibility for and contribution to make to infection control and must be familiar with the infection control and hygiene requirements of this role.

 

These requirements are set out in the National Code of Practice on Infection Control and in local policies and procedures which will be made clear during your induction and subsequent refresher training.  These standards must be strictly complied with at all times.

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