Chief Financial Accountant

Band 8C | £70,641- £80,554 per annum*

*Inclusive of London weighting

Job Purpose

As a key member of the Finance management team, take responsibility for:

The management of the performance of the Financial Accounts team (including outsourced providers) ensuring the delivery of a professional, dynamic, efficient and proactive service to meet the needs of the Trust.

Contribute to the development of the financial strategy and associated financial plans for the Trust including preparation of forecast cash flow and balance sheets.

Proactive planning and management of the Trust's cash position, receivables, working capital and loan financing facilities.

Managing the production of the Trust's annual accounts and their audit, and supporting the production of the annual report.

Managing the month end timetable to ensure efficient processes are in place to accurately report the month end results and forecast both internally and to NHS Improvement.

Providing financial analysis and commentary and communicating this effectively to budget holders, staff, auditors and other stakeholders.

Proactive management of the outsourced provider for finance and accounting to ensure compliance with contract. Ensure the Trust is working in line with ELFT best practice to deliver the benefits of outsourced service provision.

Responsible for all financial systems and accounting / transaction processes throughout the Trust, ensuring adequate financial controls are in place and users are adequately trained.

Liaison with external and internal audit and the Local Counter Fraud Specialist.

Responsible for ensuring all changes in legislation and accounting practice are identified and Trusts SFls/Standing Orders and accounting policies and procedures are updated and communicated effectively across all areas of the organisation.

Tax specialist for the Trust (VAT/ PAYE/ Corporation tax).

Finance staff development for the Trust.

Ensuring the Trust has appropriate insurance arrangements in place.

Key Result Areas & Performance Indicators

Development and maintenance of effective and efficient core financial systems including accounts payable, accounts receivable, general ledger and capital asset register ensuring the timely and accurate closedown processes required to produce the monthly financial management information, statutory annual accounts and annual report.

Timely and accurate settlement of statutory payments to external bodies such as PAYE, NI, VAT and Pensions.

Maintenance of and reporting compliance with the Trust SFI and Scheme of Delegation.

Production of 12 week and 12 month rolling cash flow forecasts

Effective management of outsourced financial services including establishment and performance management of key KPls

Ensuring effective insurance arrangements are in place across the organisation in partnership with key stakeholders across the organisation

Compliance with the Better Payment Practice code ensuring all trade creditors are paid within 28 days of receipt of a valid invoice.

Key Relationships

Chief Finance Officer

Financial Controller

Directors and budget holders

internal and external Auditors

Local counter fraud specialist

NHS Improvement

HMRC, NHSBA and Commissioners

ELFT Shared Services, ELFT operational team, ELFT contract management team

Trust bankers

Insurance brokers

Senior staff in other NHS organisations

Professional advisors

Estate valuers

Financial Accounting (5 staff including 2 trainees)

All Finance staff

Main tasks and responsibilities

Responsible for the development and maintenance of effective and efficient core financial systems including accounts payable, accounts receivable, general ledger and capital asset register ensuring the timely and accurate closedown processes required to produce the monthly financial management information, statutory annual accounts and annual report.

Responsible for timely and accurate settlement of statutory payments to external bodies such as PAYE, NI, VAT and Pensions.

Responsible for the maintenance of and reporting compliance with the Trust SFI and Scheme of Delegation.

Lead on the production of 12 week and 12 month rolling cash flow forecasts

Ensure the effective management of outsourced financial services including establishment and performance management of key KPls

Responsible for ensuring effective insurance arrangements are in place across the organisation in partnership with key stakeholders across the organisation

Responsible for ensuring compliance with the Better Payment Practice code ensuring all trade creditors are paid within 28 days of receipt of a valid invoice. The post holder will be required to ensure effective communication with and coordination of stakeholders across the purchase to pay workflow to ensure this is delivered.

Strategic planning

To lead on the development of the 5 year financial model and annual financialplan with specific responsibility for cash flow, the balance sheet and fixed assets ensuring this is consistent with the Trust's approved strategy, income and expenditure plans.

Pro-active evaluation of highly complex loan and financing options for the financial plan. Provide detailed and complex scenario modelling of cash flow, loan financing and capital expenditure for the financial plan.

Forward planning for updated financial/ accounting guidance from NHS Improvement, Department of Health or Treasury including updates to accounting standards and scenario modelling ensuring any changes are reflected in Trust wide policies and procedures and communicated effectively to the wider organisation.

Develop Trust strategy in relation to financial systems and processes with ELFT (outsourced financial services provider), Procurement, budget holders and other senior stakeholders ensuring expected benefits are being delivered through effective presentation of highly complex information to both financial and non-financial audiences

People and Managerial Functions

To build, lead, motivate and develop the Financial Accounts team including ensuring there is effective recruitment and selection of staff in line with Trust policies and the Manager's Code of Conduct. Responsible for managing Grievance, Disciplinary, attendance and other employee relations cases including redeployment and redundancy situation.

To ensure that all staff are appraised annually, have clearobjectives which link to department and Trust objectives, and ensure all staff have appropriate departmental inductions. To ensure training and development needs are identified in line with organisational needs. Ensure all their staff have an annual PDP and undertake the relevant statutory mandatory training and appraisals

To ensure performance issues are dealt with in an appropriate and timely manner and follow the Trust's Disciplinary or Managing Performance Procedures where formal action is necessary.

To develop professional standards within the Finance Department and actively seek and encourage feedback from users of financial services to enable continuous improvements plans to be implemented.

To observe and comply with the Trust's policies and procedures for Health and Safety ensuring the environment in which you and your staff work is safe, clean and tidy.

To comply with standard infection control precautions to prevent or minimise the spread of micro-organisms and communicable diseases to patients, staff and surrounding community.

To observe and continually promote equal opportunities in compliance with the Trust's policies on Equality and Diversity and Dignity at Work.

To ensure that all financial procedures comply with the 'Standing Financial Instructions', and raise awareness of the SFls across the Trust.

To create a culture which ensures the benefits to patients are maximised through careful, economical and appropriate use of NHS resources including equipment, property, money and lime.

As a member of the Finance Department management team, take collective responsibility for decisions made.

Research and Development Responsibilities

To lead on finance staff development ensuring that the department has appropriate training policies and practices in place. Regularly reviews policies and procedures and recommends and/or implements improvements to them.

To lead development and implementation of financial policies, procedures and processes to ensure they are compliant with current accounting practice and be responsible for the interpretation and application of appropriate accounting and forecasting techniques both within the finance department and across the wider organisation.

To lead the continuous improvement and effectiveness of accounting systems to support the changing needs of the Trust.

To demonstrate a commitment to Continuing Professional Development.

To ensure the Trust identifies and adopts changes in legislation and accounting practice in accordance with guidance issued by accounting bodies, treasury and the department of health and HMRC.

Financial and Physical Resources

Responsible for professional financial accounting advice to Directors (Executive and Non Executive) to ensure efficient and effective maintenance of the Trusts cash and capital (£425m annually) and maintaining the integrity of Trusts assets register and non-current assets (£170m)

Support the development of Financial Strategies to deliver cash and capital targets. This requires the post holder to provide expert advice on how to identify opportunities and deliver change and improve services within the allocated cash and capital resource availability.

Information Resources

Responsible for the integrity and quality of financial information which is recorded and reported on a variety of core financial systems across the Trust and to the Trust Executive, Board and Regulators

The post holder will be responsible for the development and design of information, KPls and reporting systems to meet the needs on individual customers and the business as a whole

The post holder will undertake data analysis, reporting and integration of data before designing and developing options and solutions with stakeholders.

The role will require the post holder to use Excel, Access, the general ledger, cash forecasting system. In addition analysis, interpretation and reporting of Directorate specific information systems and external data and benchmarking

Other

VAT specialist for the Trust, providing advice and guidance on VAT legislation to staff in Finance and throughout the Trust as required. To liaise with the Trust's VAT advisors in more complex cases.

To ensure that a number of external returns are completed and submitted by agreed deadlines including for VAT, PAYE and NI, and other returns as may be required.

Responsible for Trust insurance and ensuring that the Trust has appropriate arrangements in place for its insurance cover ensuring that arrangements are made in collaboration and partnership with colleagues across wider operational and corporate functions.

To manage the process for Losses and Compensation claims, including co-coordinating the investigation of claims and ensuring necessary correspondences completed. To ensure that the Losses and Compensation Claim register is maintained and reported to the Audit and Finance and Investment Committees as required.

Ensure that all financial policies are updated regularly including Standing Financial Instructions, travel and expenses policies and treasury management. Input into all Trust wide policies with a financial impact.

To provide input into Trust Business and Strategic Financial plans.

To deputise for the Financial Controller as required.

To operate as finance representative on Trust-wide committees and working parties as required.

Any other duties commensurate with the grade and nature of this post.

Financial Accounting

Responsible for the financial accounting team and providing expert financial leadership in the monthly, quarterly and annual financial review process of the cash flow, balance sheet, financing, working capital and NHSI metrics including commentary and analysis for the Chief Finance Officer. This will include forecasting with consistent assumptions in conjunction with the Chief Management Accountant.

Responsible for the Trust's month end close down process to ensure that the accounts reflect the true financial out turn of the Trust. To work with the Chief Management Accountant to develop and implement changes to the Trust's month end reporting policies and procedures to deliver accurate reporting for the Trust, including working with departments outside of finance where their procedures impact on the accounts. To lead a review of each month end and drive process improvements to improve the month end close.

To ensure that through the financial accounting team and ELFT all control accounts are appropriately reconciled and action taken on a monthly basis.

To ensure that the fixed assets register is correctly managed and that deprecation charges are correct. Ensure assets are capitalised appropriately and are periodically validated. This includes establishing and interpreting capitalisation guidance for budget holders across the organisation.

To prepare the monthly I quarterly financial return information for NHSI for the balance sheet and cash flow areas including all forecasting, variance analysis and the narrative report.

Responsible for the production of the annual accounts to NHSl's submission timetable and Audit and Finance Committee deadlines. Lead contact for the external auditors for their audit. Work closely with the Head of Corporate Governance to support the production of the Annual Report to ensure it meets NHSl's requirements and is produced in line with the timetable.

Responsible for the accurate and timely completion and submission of the Trust Consolidation returns, including the Agreement of Balances exercise.

To provide support, advice and guidance to other departments of the Trust on all Financial Accounting matters and, when required, to challenge assumptions held to ensure the development of robust financial forecasts.

Financial Control

Responsible for the management of the contract with ELFT outsourced service for Finance and Accounting to ensure they are meeting their KPls and working in line with contractual terms. Ensure that the Trust takes a proactive role in the management of ELFT at all levels including representing the Trust at national forums, monthly meetings with ELFT account managers and ensuring effective regular conference calls are in place to manage day to day performance by ELFT often dealing with highly contentious or sensitive subject matter.

Responsible for ensuring key financial controls are in place for all processes with a financial impact in the Trust. This will include ensuring that all staff within finance and budget holders are properly trained and understand their role in relation to ELFT. Working closely with the Chief Financial Accountant, Head of Procurement and HR Business Partner to ensure the Trust is operating in line with ELFT best practice processes. This will include ensuring that all staff within finance and budget holders are properly trained and are using standardised processes on ELFT systems.

Responsible for the management of the cash position to ensure the Trust has sufficient funds to meet its financial obligations within Treasury limits.

Responsible for managing the Trust debt position, ensuring that all invoices for Trust income are raised promptly and cash is collected. Ensure that all debtors are being proactively managed and queries resolved. This often involves dealing with potentially emotive or contentious issues such as staff repayments etc.

Management of the payment of suppliers in line with standard terms and cash management requirements often dealing with contentious or hostile approaches from credit controllers or suppliers who have not been paid.

To ensure that all staff in the Financial Accounts team have clear performance standards/objectives and, through regular review, ensure that they are meeting them.

Ensure that the Trust has appropriate banking arrangements in place.

Setting up and management of complex loan financing arrangements, if required, and ensuring that the Trust is complying with the terms of existing loans.

Mental Effort

This role requires frequent, intense and prolonged concentration. The role has daily requirement for concentration for more than half the shift analysing and reviewing highly complex financial and non-financial data and other highly complex information. The post involves attending Board and Executive meetings that require prolonged periods of intense concentration. There is a high level of unpredictability in that post holders will be interrupted and will need to move between activities to meet stakeholder needs and requests.

Person Specification

Key

Essential (E), Desirable (D), Application (A), Interview (I), Test (T)

Qualifications, Accreditations, Education

CCAB recognised accountancy qualification (E, A)

Significant post qualification experience in a senior accounting role gained ideally in a large audit firm and in a senior financial account in a role. (E, A)

An MBA or equivalent experience of managing part of the Finance function in a large service delivery organisation (E, A)

Undertaken a variety of additional short courses to develop specialist knowledge (E, A, I)

Significant experience and knowledge gained through working in specialist areas within organisations and from exposure to differing business models (E, A, I)

Evidence of Continuing Professional Development (E, A, I)

Experience

Experience of delivering a customer focused service to ensure that the finance department matches the operational needs of the Trust. (E, A, I, T)

Considerable experience of using computer based financial systems in a complex environment. Able to contribute to the ongoing development of financial systems and processes. (E, A, I, T)

Experience of negotiating and agreeing deadliness and standards and quality of work with other departments (E, A, I, T)

Significant experience of managing, motivating and developing a team. Experience of setting objectives, carrying out staff appraisals, identifying training needs, mentoring and coaching staff. Experience of performance management including managing poor performance and sickness matters. (E, A, I, T)

Experience of working at a strategic level, able to recognise direction and implications of policy. (E, A, I, T)

Knowledge, Skills and Abilities

Specialist in technical accounting issues, the post holder must be able to demonstrate sound technical accounting knowledge. This must include the application of knowledge from IFRS (E, A, I, T)

Able to demonstrate sound analytical skills with the ability to deal effectively with large quantities of complex data, both financial and non-financial and producing clear and understandable recommendations from it. (E, A, I, T)

Good knowledge of the Trust, its aims, targets to be delivered, structures and activities (E, A, I, T)

Able to demonstrate a detailed knowledge of the NHS as a whole, its strategic direction and implications of policy. (E, A, I, T)

Able to predict or calculate the resources and/or time needed for an activity using knowledge and experience and aware of the need to make realistic predictions and contingency plans. (E, A, I, T)

Able to make effective contributions to the decision making process within the Finance team and more widely for the Trust. (E, A, I, T)

Able to contribute to the strategic direction of the Trust and to approach issues with a broad view. (E, A, I, T)

Considerable experience of using computer based financial systems in a complex environment. Able to contribute to the ongoing development of financial systems and processes (E, A, I, T)

Highly developed IT skills (E, A, I, T)

Able to plan and co-ordinate the work of the financial accounts team and of other teams in / outside of Finance to meet the month end and year-end timetables. Experience of negotiating and agreeing deadliness and standards and quality of work with other departments. (E, A, I, T)

Highly developed level of communication and interpersonal skills that enable highly complex technical issues to be explained in clear and concise terms. (E, A, I, T)

Able to adapt readily and respond constructively to change and to work effectively in a variety of situations with groups or individuals (E, A, I, T)

Able to persuade others at all levels, including Executive Directors and clinicians, of a particular course of action or viewpoint, whilst respecting their point of view. (E, A, I, T)

Able to establish a course of action for self and others to ensure that objectives are achieved (E, A, I, T)

Contributes to effective team working within the Finance Department and other senior teams in the Trust. (E, A, I, T)

Regularly reviews policies and procedures and recommend and/or implements improvements to them. (E, A, I, T)

Promotes the Finance Department within the organisation. (E, A, I, T)

Able to manage and motivate staff, focus on key issues and is committed to the organisation and personal self development (E, A, I, T)

Maintains realistic and acceptable performance when under pressure (E, A, I, T)

Smart and professional appearance (E, A, I, T)

Able and willing to travel between the two sites. (E, A, I, T)

Able to exercise judgement express opinion and present recommendations impartially. (E, A, I, T)

Readily makes decisions and takes action based upon logical assumptions which reflect factual information. (E, A, I, T)

Applies a range of styles and approaches to situations to ensure good achievement or maximum effectiveness (E, A, I, T)

Visualises tasks, activities, processes and outcomes in a range of situations. (E, A, I, T)

Other Requirements

Positive attitude towards learning and development (E, A, I)

Ability to maintain concentration for long and frequent periods (E, A, I)

Ability to work on a computer with a monitor for extended periods (E, A, I)

Ability to work flexibly and travel frequently between Trust sites (E, A)

An understanding of and demonstrable commitment to equal opportunities and the importance of valuing diversity (E, A, I)

Low level of absence due to sickness (E, A, I, T)

Advanced keyboard skills and use of various software to produce reports and enable the production of powerful visual presentations and info graphics to share highly complex information (E, A, I, T)

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