Director of Financial Planning and Investment

Band 9 - £91,170 - £109,169 (inclusive of London weighting)

Department: Finance

Accountable to: Deputy CFO (Director of Planning and Performance)

Job Summary

This post holder will lead the development and implementation of the Trust’s approach to financial strategy and planning and continuous improvement. They will report to the deputy Chief Financial Officer and have corporate responsibility for and will provide day-to-day leadership of the Financial Strategy and Planning and Continuous Improvement teams. They will be responsible for providing specialist financial planning advice to the CFO and other Executive and Board colleagues at the Trust, and for supporting the delivery of the Trust’s key objectives.

As the Trust expert for the development, implementation and maintenance of the financial aspects of the Trust strategy, the post holder will oversee financial planning and modelling, development of financial plans as well as strategic projects. The post holder is expected to work as part of a cohesive finance team and, when necessary, to take lead responsibility for Trust-based issues outside of their immediate sphere of responsibility. They will be expected to present financial and business information to large groups, such as the whole Finance function as well as clinical and non-clinical colleagues from outside of Finance.

The post holder is expected to manage the relationship with NHS Improvement (NHSI) and the Department of Health and Social Care (DHSC) in financial strategic and business planning matters and prepare required documentation relating to the financial plan and monitoring against it including Trust Board meetings as necessary.

The post holder will support the CFO in the development of the Trust’s strategy ensuring it is driven by a robust market assessment. They will understand and interpret the national agenda, changes in the NHS and Local Authorities, and best practice from elsewhere to feed this into the Trust’s strategy development. The post holder will be accountable for interpreting changes in government policy and assessing the financial impact of these changes on Trust Finances. They will propose and make changes to Trust policy as appropriate, ensuring that policies and procedures are developed and implemented in line with Trust requirements.

The post holder will also provide oversight of continuous improvement, championing the adoption of project and programme management methods across Finance and the Trust to coordinate implementation of the Finance vision and roadmap.

The post holder has line management responsibility for the Head of Financial Strategy and Planning and the Programme Manager (Continuous Improvement). This takes into account all aspects of staff development, training, appraisals, 1:1s, support and coaching.

In providing specialist financial expertise and leadership to the business there is an almost constant requirement for the post holder to exercise intense concentration and sustained mental effort in order to analyse, understand, retain and convey information. There is a frequent need for the post holder to prioritise and re-prioritise workloads according to the demands of stakeholders and to meet financial deadlines.

key relationships

> Organisational Structure

> Main Duties

> Person Specification

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Key Working Relationships

Internal:

Executive team
Board members
Senior Finance Staff
Senior Clinicians
Divisional/Directorate Management
Financial Strategy and Planning Team
Budget Holders
Information / BIU Team
Financial Recovery Team
KIFM

External:

NHS Improvement
Commissioning Bodies
Department of Health and Social Care
NHS England
Other Foundation Trusts, and NHS Trusts
Auditors
Private sector & Commercial partners.

structure

Organisational Structure

duties

Main Duties and Responsibilities

Financial Strategy

Accountable for developing and delivering strategy, promoting innovation and supporting operational excellence in the Trust. The post holder will work with highly complex data, facts and situations requiring analysis, interpretations and comparisons on a range of options and making decisions on the most appropriate approach.
Development and maintenance of a strategic financial model, which will enable sensitivity analysis and support the formulation of long-term financial planning.
To lead the provision of financial input and advice regarding service reconfigurations and major business cases, including challenging and verifying financial assumptions being made in the local health economy to ensure that plans are made on a robust financial basis that maximise value for money.
To engender a culture of performance management within the Finance Directorate that seeks and finds solutions to financial problems and maximises financial opportunities.
To review and update year-end projections, taking account of year to date performance, underlying trends and corrective actions and ensure income and expenditure and balance sheet/cash projections are consistent.
To advise the Executive team of financial investments in terms of both revenue and capital developments, challenging assumptions made by project leads to ensure all financial aspects of the business case have been fully thought through.

Planning and Organisation

Accountable for production of the Trust’s Strategic Plan and Annual Planning process.
To complete the annual plan and required NHSI financial and other planning templates and in-year monitoring requirements.
To develop implementation and performance monitoring of the Trust’s business and strategic planning processes to ensure they meet the organisation’s objectives.
To act as lead for strategic projects, ensuring they are delivered against plan and are appropriately resourced.
To prepare for and contribute to the development of business cases and capital projects as required, providing appropriate financial, technical, environmental and organisational information to inform the process and ensuring projects are appropriately resourced.
To plan, allocate and direct the activities of the Finance Department in order to achieve deadlines, agreed work plans and service standards.

To develop and maintain medium-term and long-term financial models and business plans covering three and five year financial plans to ensure the financial viability of the Trust, taking account of the changing financial regime and areas of uncertainty of income and expenditure.
To lead on financial modelling support to the STP on behalf of the Trust.
To develop of the annual income and expenditure, balance sheet and cash plan for the Trust in conjunction with other senior members of the finance team for submission to the NHSI.
To prepare of the Business Planning Guidance, including proposed directorate expenditure budgets and savings targets, reserves allocations and gain agreement from the Trust Executive and Board to these proposals.
To carry out the review of all annual directorate business plans to ensure that robust savings plans have been put in place and that there is consistency of income and expenditure assumptions with those in the overall Trust plans.
To prepare the reconciliation of income and activity assumptions to directorate budgets.
To monitor and assist in the development of Trust Financial Recovery Plans.

Commercial Activities, Business Cases and Market Testing

To provide professional financial advice and assessment of bids throughout the Trust in relation to market testing.
To provide professional financial advice in relation to new and existing commercial activities of the Trust.
To carry out financial appraisal of business cases:
Making recommendations for improvements to improve the benefits
Ensuring costs and risks are recognised in order to produce a comprehensive evaluation of options and recommendations for adoption by the Trust Executive

Continuous Improvement

To provide oversight of the Continuous Improvement Team, championing the adoption of project and programme management methods in order to implement the Finance transformation programme and the Finance vision and roadmap
To develop and implement Finance communications with the Trust.
Accountable for the delivery of Trust-wide special projects e.g. special projects.
To proactively identify and prioritise strategic initiatives that will improve levels of performance and value delivered by Finance.
To support colleagues across the Trust to manage the financial and commercial elements of programmes and projects.
To support Finance staff in specialist training e.g. through Finance / professional qualifications.
To feed in training needs to Learning and Development to support the development and implementation for Finance and for the Trust.

People Management and Performance

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

To present financial and business information to a variety of stakeholder groups.
To undertake all mandatory training in line with Trust policies and procedures.
To take personal responsibility for own professional development.
To maintain own professional competence and credibility.
To adhere to relevant professional code at all times.
To be a key member of the team setting the long-term strategic financial planning agenda and programme for the Trust.
To interpret changes in Government policy and assess the financial impact of these changes on Trust Finances. Identifying long term costs and benefits, identifying likely scenarios and advising the CFO, senior colleagues, Executive Directors and Board Members of the likely impact of such changes.
To propose and develop changes to Trust policy.
From time to time, to provide support to the rest of the department undertaking other duties as required, which are consistent with the grade and nature of the post. The role includes work on special projects as they arise.

General

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

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.

Person Specification

Qualifications and Training

Essential

Educated to degree level.
Expert specialist knowledge of financial and accounting procedures including current legislation and NHS accounting policies.
CCAB fully qualified / Professional chartered accountancy qualification.
At least 7 years of post-qualification experience.
Evidence of recent CPD including specialist training and experience relating to NHS finance as well as national accounting standards.

Experience

Essential

Successful experience of managing staff and working effectively as part of a team.
A successful track record of delivery of financial targets within a complex organisation and difficult environment.
Experience of working at a senior level, preferably in the NHS and experience of working in a collective decision making group.
Demonstrable experience of gaining agreement to financial plans.

Knowledge and Skills

Essential

Able to demonstrate effective leadership skills to ensure deadlines are met and Trust strategy is delivered.
Able to manage competing priorities.
Demonstrable strong written and oral communication skills.
Able to understand, analyse and communicate complex issues, drawing on the breadth of data needed to inform Trust decision making, able to balance competing priorities and make difficult decisions.
Able to work with occasional guidance to deliver annual objectives on time. Interpret DHSC and NHSI guidance and recommend approach / risks and opportunities to CFO.
Able to concentrate and focus on a range of financial issues e.g. when preparing financial reports and analysing data.
Able to analyse complex plans and proposals to identity financial risks and opportunities. Experience of preparing and analysing business cases and comparing the financial impact of various options and scenarios.
General understanding of health and an appreciation of the broad social, political and economic trends influencing it.
Sound understanding of the NHS principles and values, and able to reflect them in the role and in the operation of the Trust.
Able to build relationships at all levels in a business and influence, persuade and negotiate with others articulating a balanced, not personal, view and to engage in constructive debate.

Personal Qualities

Essential

Has the drive and energy to make things happen; frequently goes "above and beyond" the call of duty.
Has resilience, patience, authority, gravitas, and an ability to influence widely.
Demonstrable commitment to and focus on quality, promotes high standards to consistently improve patient outcomes.
Able to work at flexible hours.
Demonstrably involves patients and the public in their work.
Demonstrable commitment to partnership working with a range of external organisations
Works across boundaries, looks for collective success, listens, involves, respects and learns from the contribution of others.
Actively develops themselves and others.
Uses evidence to make improvements, seeks out innovation.
Self-awareness in terms of emotional intelligence, biases and personal triggers with cultural sensitivity and awareness.
Values diversity and difference, operates with integrity and openness.

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