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Financial Operations Director

RESPONSIBLE TO:  Chief Financial & Compliance Officer

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ACCOUNTABLE TO:  Chief Finance & Compliance Officer

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HOURS PER WEEK: 37.5

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MANAGES: Directly: TBC  |  Indirectly: TBC

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LOCATION:  Royal Free Hospital & Enfield Civic Centre

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JOB SUMMARY:

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The Financial Operations Director will support the Chief Financial & Compliance Officer acting as Operational Lead for the Trust’s Finance function providing effective and professional leadership of the central Department, implementing strategy, and delivering outputs and services in line with the Trust’s strategic and business objectives.  

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They will provide day to day leadership of the central Finance Department and will be responsible to the Chief Financial & Compliance Officer for delivery of departmental objectives and service standards.  The post holder is expected to work as part of a cohesive team and, when necessary, to take lead responsibility for corporate issues outside of their immediate sphere of responsibility.  

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The Financial Operations Director will work closely with Assistant Directors of Finance (ADF) to operate the Trust’s financial framework, managing the implementation of financial controls and processes, and will be responsible for the effective and accurate production of financial reporting in line with best practice requirements.  The post-holder will work closely with site Directors of Financial Performance, Site leadership teams, Divisions and Clinical Directors and their teams to ensure that the central finance function makes a direct contribution to their managerial and business objectives. 

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Royal Free World Class Values

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The post holder will offer World Class Care to service users, staff, colleagues, clients and patients alike so that everyone at the Royal Free can feel:

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  • Welcome all of the time 

  • Confident because we are clearly communicating

  • Respected and cared for

  • Reassured that they are always in safe hands

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MAIN DUTIES AND RESPONSIBILITIES

  

Corporate Responsibilities

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  • To assist the Chief Financial & Compliance Officer to provide strategic leadership and professional financial advice to the Trust to ensure its long-term financial success.

  • To assist the Chief Financial & Compliance Officer in managing and minimising financial risk for the organisation.

  • To monitor and report on the delivery of efficiency savings/productivity plans within the Trust, including impact on the wider health community.

  • To ensure effective, robust engagement with staff and all stakeholders relating to matters of finance.

  • To contribute to the development of overall vision and of strategies for the Trust which provide clear direction for future development.

  • To help develop the Trust as a major provider of healthcare in London.

  • Work effectively with other Directors and relevant individuals to ensure the organisation complies with the NHS regulatory regime.

 

Financial Management and Advice

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  • To advise the Trust on strategic and operational matters relating to finance.

  • To ensure policies and procedures are in place for sound forecasting, monitoring and management of the Trust’s cash to secure liquidity and financial stability and to meet the Trust’s statutory financial responsibilities.

  • To develop and review financial systems, procedures and controls to ensure that the budgeting, accounting, income and expenditure systems operate efficiently to the highest professional standards.

  • To develop and lead the implementation of financial strategies to meet Commissioner’s requirements from the contracting process.

  • To ensure the Finance function has a major involvement in the Trust’s business management process including costing, pricing, planning and negotiation of contracts and to ensure that there is an appropriate financial input to business cases.

  • To ensure systems are in place to monitor contract income effectively.

  • To ensure that accurate and relevant financial information is provided to the Board and managers regularly on the budgetary performance of the Trust and to prepare annual budgets.  To keep the Chief Financial & Compliance Officer and the Board informed of financial performance throughout the year.

  • To ensure that there are integrated activity, health outcomes and financial reporting systems.

  • To be involved in formulating the annual corporate financial plan to cover both revenue and capital issues.

  • To translate the Trust’s strategic objectives into clear, costed and assigned financial targets to fully meet the requirements of the annual financial plan.

  • To prepare the financial framework for the Strategic Plan and the annual Operating Plan.

  • To ensure compliance with statutory and other financial duties and responsibilities including driving value for money.

  • To ensure effective financial control and financial management within the Trust.

  • To be responsible for the production and submission of all financial and information statutory and non-statutory returns, including annual accounts, to the Department of Health and NHS Improvement and other agencies by their relevant deadlines. 

 

Performance Management

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  • To lead financial performance management in conjunction with the Assistant Director of Finance – Planning & Analysis, ensuring that there is a culture of delivery and high performance across the organisation, and that action is taken by the executive team to achieve all national and local targets.

  • To ensure that the necessary information is produced to enable effective financial performance of all services.

  • To ensure that appropriate action is taken to address areas of poor performance.

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Contributing to the Planning Function

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  • To contribute to the strategic and operational planning process, ensuring the development of a medium-term financial plan, based on best practice financial and business principals.

  • To ensure the agreement of a balanced business plan across the Trust.

  • Strategy

  • The post holder will play a key role in developing and delivering the Trust’s strategic objectives. Initially this will centre on ensuring systems and processes are in place to deliver the group’s financial strategy, working with business units, NHSI and the Department of Health to achieve all the requirements set for finance.

  • They will develop and deliver best value initiatives and cost efficiencies across the organisation

  • Ensure financial support for the development of business cases for capital expenditure and service changes, and monitor subsequent performance.

  • Contribute to the broader strategic direction and corporate management of the Trust.

  • Apply rigorous generally accepted commercial disciplines and techniques in assessing viability of investment proposals.

  • Provide the advice and information on the finance issues and financial risk which flow from the consideration of strategic options.

  • Responsible for managing the strategic development and implementation of financial risk management.

  • Provide advice and support to the Trust’s governance structures as required, including the Board of Directors, Members’ Council and Audit Committee.

  • To apply professional standards of accountancy and monitor adherence to financial policies and procedures at all levels within the organisation.

 

Finance & Operations

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  • To provide financial analyses, information and advice to assist in mitigating financial risk, maintaining overall financial control, and in monitoring the Trust’s performance.

  • Provide comprehensive financial services to the Trust including production of budget proposals, development of effective budgetary control systems, the provision of accurate and timely information/advice and compilation of monthly management returns and end of year accounts for statutory and/or regulatory purposes.

  • Develop and implement effective and innovative ways of producing information for budget holders, educating those who commit resources to promote the most effective use of resources in line with the needs of the service.

  • Appraise current and forecast outcomes of operational strategies and report on financial performance to the Board and stakeholders and regulators as appropriate.

  • Effectively manage financial agreements between the Trust and its stakeholders to ensure appropriate recovery of costs.

  • Oversee all financial systems and internal controls, including the development and modification of accounting systems when required.

  • Apply rigorous generally accepted commercial disciplines and techniques in assessing viability of investment proposals.

  • Maintain stringent liquidity controls through a process of tight and cost effective cash management procedures in order to minimise the utilisation of the Trust’s credit facilities.

  • Meet agreed targets and objectives and deliver within defined costs, timescales and resources.

  • Ensure that the Trust continues to implement national policies relating to finance, particularly payment-by-results, in a way which maximises the financial benefit and stability of the organisation.

  • Develop and implement an effective strategy for the efficient maintenance, utilisation, safe custody and protection of ownership of the Trust’s fixed assets including real estate.

  • Provide a financial information service which will give managers timely and relevant information tailored to their specific requirements.

  • To manage the cash flows relating to creditor payments, payroll billing and investments including forecasting of such, to ensure best practice in respect of cash management.

  • To ensure that all debts due are recovered in a timely fashion and the prompt write-off of any that are irrecoverable.

 

People Management

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  • They will provide professional leadership, coaching, and technical / personal development to all central finance staff (direct reports and other staff).  In addition, they will work with their direct reports to plan the workload of these departments to ensure that they meet the operational and strategic needs of the Trust. 

  • Manage and develop the Finance function to develop a common sense of identity, understood priorities and objectives each year, and ensuring clarity of roles and responsibilities of everyone within the team.

  • Leading by example by adopting a management style that supports ways of working that reflect the values and culture of the Trust.  Where appropriate managing issues of conflict and addressing performance concerns should they occur.

 

Communication and Relationships

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  • Establish, manage and develop arrangements for working closely with key stakeholders to shape and develop services.

  • To develop and maintain a culture which supports the active and effective engagement of directors, clinicians, staff, local stakeholders.

  • To promote a positive image of the Trust and Finance Department with appropriate agencies and the public.

  • The post holder will be expected to frequently work with Trust Directors in various committees and groups and to influence and persuade staff at all levels within the organisation.

  • Promote the enhancement of financial responsibility and understanding of those who commit expenditure through internal budgetary and accounting arrangements and training.

  • Develop commercial skills and effectiveness across the Trust to ensure the organisation is able to compete successfully in the healthcare market

  • Support, encourage and where appropriate ‘mentor’ other Board members and senior executives.

 

Analytical and Judgemental

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  • Oversee and further develop financial and performance management throughout the Trust ensuring ownership by lead clinicians and managers, enabling the organisation to achieve top performance

  • Develop financial and performance KPIs across the Trust which effectively monitor performance and work with clinicians and managers to ensure accountability and top performance.

  • To continuously review performance against plans and take action as necessary

  • To utilise analytical skills to reflect on and interpret highly complex information, facts or situations which require analysis, option appraisal and the generation of solutions

  • Develop service and patient based costing to ensure that services can be benchmarked against comparable organisations. This should include research, education and patient outcomes.

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Relationships

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Internal Relationships

  • Chief Financial & Compliance Officer

  • Assistant Director of Finance – Financial Planning & Analysis

  • Assistant Director of Finance – Financial Control

  • Other members of the Finance Department

  • Site Directors of Financial Performance

  • Deputy Chief Executive

  • Senior members, including executive and non executive directors, of the organisation

  • Clinical staff and Divisional managers

 

External Relationships

  • Clinical Commissioning Groups

  • Clinical Support Units

  • NHS Improvement

  • Financial Advisors

  • Internal and External auditors

  • Other external partners

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GENERAL RESPONSIBILITIES

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Infection Control

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Infection control is everyone’s responsibility. All staff, both clinical and non clinical, are required to adhere to the Trust’s Infection Prevention and Control policies and procedures and the Health Act (2006) Code of Practice for the prevention and control healthcare associated infections and make every effort to maintain high standards of infection control at all times thereby reducing the risk of Healthcare Associated infections.

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It is the duty of every member of staff to take personal responsibility for the prevention and control of infection, as laid down in the Trust’s polices and procedures which reflect the statutory requirements of the Hygiene Code:

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  • To work in close collaboration with the Infection Control Team.

  • To ensure that monitoring of clinical practice is undertaken at the agreed frequency.

  • To ensure that the ward environments are cleaned and maintained to the highest standards; ensuring that shortfalls are rectified, or escalate as necessary.

  • To ensure that all relevant monitoring data and issues are provided to the Directorate’s Governance structures.

  • To ensure that all staff are released to attend infection control-related educational sessions and staff with specialist roles, e.g. link practitioners, are released to undertake their duties.

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Health and Safety at Work

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The post holder is required to:

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  • Take reasonable care for the health and safety of himself/herself and other persons who may be affected by their actions or omissions at work.

  • Co-operate with the employer in ensuring that all statutory and other requirements are complied with.

 

Confidentiality & Data Protection

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The post holder has a responsibility to comply with the Data Protection Act 1998 and maintain confidentiality of staff, patients and Trust business.

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If you are required to process information, you should do so in a fair and lawful way, ensuring accuracy is maintained. You should hold information only for the specific registered purpose and not use or disclose it in any way incompatible with such a purpose.

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You should disclose information only to authorised persons or organisations as instructed. Breaches of confidentiality in relation to information will result in disciplinary action, which may include dismissal. Employees are expected to comply with all Trust policies and procedures and to work in accordance of the Data Protection Act 1998. For those posts where there is management or supervision of other staff it is the responsibility of that employee to ensure that their staff receive appropriate training (e.g. HISS induction, organising refresher sessions for staff when necessary.)

 

Conflict of Interest

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The Trust is responsible for ensuring that the services for patients in its care meet the highest standards. Equally, it is responsible for ensuring that staff do not abuse their official position, to gain or benefit themselves, their family or friends.

 

Equality and Diversity

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The Trust values equality and diversity in employment and in the services we provide. It is committed to promoting equality and diversity in employment and will keep under review our policies and procedures to ensure that the job related needs of all staff working in the Trust are recognised. The Trust aims to ensure that all job applicants, employees or clients are treated fairly and valued equally regardless of sex, marital status, domestic circumstances, age, race, colour, disablement, ethnic or national origin, social background or employment status, sexual orientation, religion, beliefs, HIV status, gender reassignment, political affiliation or trade union membership. Selection for training and development and promotion will be on the basis of the individual’s ability to meet the requirements for the job.

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You are responsible for ensuring that the Trust’s policies, procedures and obligation in respect of promoting equality and diversity are adhered to in relation to both staff and services.

 

Vulnerable Groups

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  • To carry out responsibilities in such a away as to minimise risk of harm to children, young people and vulnerable adults and to promote their welfare in accordance with the Children Act 2004, Working Together to Safeguard Children (2006) and No Secrets guidance (DH 2000).

  • To demonstrate an understanding of and adhere to the trust’s child protection policies.

 

No Smoking

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The Trust implemented a No Smoking Policy, which applies to all staff. Staff contravening this policy will be subject to disciplinary procedures.

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Standards of dress

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All staff are expected to abide by the Trust’s guidance on standards of dress.

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This job description outlines the current main responsibilities of the post. However the duties of the post may change and develop over time and may therefore be amended in consultation with the post holder.

 

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PERSON SPECIFICATION

 

Key:

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Essential (E)  |  Desirable (D)

Assessed through:  App Form (A)  |  Interview (I)

 

Royal Free World Class Values

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​Education & professional Qualifications 

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  • Educated to degree level  (E) (A)

  • Expert specialist knowledge of financial and accounting procedures including current legislation and NHS accounting policies  (E) (A)

  • Professional Chartered Accountancy Qualification  (E) (A)

  • Evidence of recent CPD including specialist training and experience relating to NHS finance as well as national accounting standards  (E) (A)

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Experience

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  • Significant post qualification experience as a Director of Finance or Deputy in a complex organisation  (E) (A)

  • Networking: being able to work within and without the Trust with credibility out of area  (E) (A)

  • Experience of liaising with internal and external auditors  (E) (A&I)

  • Awareness: up to date with the NHS policy, national directives and all Governance aspects but with a specific emphasis on NHS Finance  (E) (A&I)

  • Significant and demonstrable previous experience or demonstrable capability and capacity for leading and managing staff  (E) (A&I)

  • Significant post qualification experience as a Director of Finance or Deputy in a NHS organisation of comparable complexity  (E) (A&I)

  • Experience of the NHS planning process and Payment by Results  (E) (A&I)

  • Knowledge of Charity Finance  (E) (A)

  • Experience of working in a financial turnaround situation  (E) (A&I)

  • Experience of restructuring and outsourcing back office services  (E) (A&I)

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Skills and aptitudes

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  • Excellent interpersonal and communication skills, written and verbal  (E) (A&I)

  • Ability to and track record of effectively communicating highly complex and sensitive information to large groups  (E) (I)

  • Ability to challenge and effectively manage and deal with highly contentious situations and issues  (E) (A&I)

  • Evidence and demonstrable success of leading and facilitating significant change programmes within finance  (E) (A&I)

  • Sound political judgment and astuteness in understanding and working with complex policy, information and diverse interest groups  (E) (A&I)

  • Highly developed influencing skills: with senior health care professionals across the Health Community and external organisations  (E) (A&I)

  • Ability to be intellectually flexible and to look beyond existing structures, ways of working, boundaries and organisations to produce more effective and innovative ways of working and partnerships (E) (A&I)

  • High level of work organisation, self motivation, drive for performance and improvement, and flexibility in approach and attitude  (E) (A&I)

  • Proven ability to make significant contributions to long term organisational strategy  (E) (A&I)

  • Ability to interpret highly complex information e.g. Business cases and take decisions regarding allocation of resources and risk  (E) (A&I)

  • Mentoring skills  (D) (A)

  • Proven ability to prioritise workload in a dynamic work environment and instruct and direct others which deliver positive outcomes  (E) (A&I)

  • Advocacy skills  (D) (A&I)

 

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