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Job description

Director of Operational Finance

Finance Structure Chart

Please download and view the Torbay and South Devon NHS Finance Team structure chart below.

Job purpose

Financial sustainability from 2020 to 2030 means working in collaboration with peers and partners and taking responsibility for place and system risk. The Trust expects to be at the forefront of these approaches within Devon, whilst supporting the STP/ICS to deliver financial balance.

In conjunction with the Chief Finance Officer, the Director of Operational Finance is responsible for managing the Finance and Procurement Directorate, ensuring a high-quality provision of service to the Trust whilst they embark on a large-scale transformational change journey as part of Building a Brighter Future.

The Director of Operational Finance will be responsible for the day to day management of the Finance and Procurement directorate, ensuring delivery of statutory financial duties, as well as having the autonomy to define and drive the procurement strategy for the Trust within the context of the national framework.

The Director of Operational Finance will have a strong track record of delivery, be able to manage multiple projects and drive change. You will be able to lead and motivate teams effectively as well as building strong relationships with a range of stakeholders and partners.

You will work closely with the Chief Finance Officer and act on his behalf in a wide range of settings. Keen to fully utilise your broad ability, you will relish challenge and the career enhancing experience this role will provide.

Key Responsibilities

To lead and develop the finance directorate so that it provides management of the Trust with the financial advice, information and expertise to enable the provision of the best possible standards of health and social care

To interpret overall health and social care policy and strategy on an ongoing basis, ensuring that the Trust’s financial and service plans are developed and executed in line with national and local guidance

To assist the Chief Finance Officer to define and develop the strategic direction of the finance function so that it is able to set challenging objectives for the future in response to changing needs

To co-ordinate the preparation of the Trust’s Financial Plan and Annual Budget for presentation in a clear and concise manner to the Trust Board prior to the start of the financial year

To direct, lead, plan, organise and control resources in order to implement strategy. To provide constant monitoring and review processes to assess function effectiveness. To ensure that financial systems are fit for purpose, consistent with best practice and to take the lead in managing and developing finance systems and processes across the whole Trust

To promote an environment of strong financial control and continuous financial improvement within the Trust, and facilitate high levels of financial fluency and engagement

 

To report the current financial position and prospects of the Trust in an accurate and timely manner to senior management and the Trust Board, ensuring a consistent approach has been adopted across the whole finance function, and that risks and opportunities are identified, validated and addressed on a timely basis

 

To ensure a prompt and accurate response to requests for financial information from NHSI/E and the Devon STP, and manage the completion of financial templates to ensure the Trust meets its statutory financial duties

 

To manage the working capital and cash resources of the Trust to ensure that statutory obligations are met

 

To prepare and manage the resources for the Trust’s Capital Investment Programme

 

To sponsor and oversee the operational work programme of the procurement function, ensuring a strong focus on value, good clinical engagement and excellent performance against Model Hospital metrics, while exploring strategic avenues for closer collaboration and value across the STP

 

To promote standards of professionalism within finance to ensure compliance with external standards and best practice and support the delivery of the finance function

 

To recruit, deploy, develop, train, review and motivate staff to fulfil the function’s objectives

 

To provide the highest possible quality of service to meet customer needs within available resources

 

To be the financial lead in developing the Trust’s R&D and academic strategy with an emphasis on maximising resources for education, training and research

 

To deputise for the Chief Finance Officer in their absence.

Most rewarding part of the role

Taking on a high-profile leadership role in an innovative Trust, and being part of crafting a proud and vibrant finance team, which will win the HFMA finance team of the year in 2023 by which time you will be ready for your first Executive finance role.

Primary duties and areas of responsibilities

Communication and Working Relationships

  • Share in the responsibility for excellent communication with finance and procurement staff, the wider Trust and outside agencies.

  • Communicate highly sensitive, complex and contentious information to large groups of staff including the clinical body, notably in addressing the financial recovery agenda and working to build compromise and consensus in the design of future clinical operating models and capital programming, through the Building a Brighter Future Programme

  • Work with internal colleagues (information, performance) and external stakeholders (CCG, STP, NHSI&E) to ensure a high degree of correlation between SUS and SLAM systems, ensuring accurate data recording and the proper and timely submission of activity data such as MAR returns

  • Support the CFO in the development of a data quality strategy, working with front-line and operational staff to ensure the correct recording of clinical activity, and having the freedom to define and oversee improvement initiatives where indicated.

Planning and Organisation

  • Advise the Chief Finance Officer on the formulation of financial strategy and continuously monitor it against performance. The financial strategy should ensure best possible use is made of the organisation’s resources and will require adjustment over time.

  • Ensure there is realistic planning around likely resources and an appropriate assessment of risk including detailed reviews of business cases. You should be satisfied there are prudent reserves for inflation, workload variations and other risks.

  • Coordinate the preparation of the Trust’s Annual Financial Plan and Revenue Budget and Capital Investment Programme and provide such information as is required to support the negotiations of service level agreement with local commissioners, including the Clinical Commissioning Group and Local Authority.

  • Manage the highly complex task of ensuring capacity and workforce plans are triangulated into the revenue budgets of the Trust and that NHSI/E’s detailed requirements as outlined in planning guidance are fully complied with.

  • Communicate planning information and assumptions to the Executive Directors and senior managers and, where necessary, make challenging recommendations in order to meet the Trust’s financial targets. This will often mean challenging senior clinical and management staff with strongly opposing views and objectives.

  • Maintain a sound system of working capital management and cashflow forecasting, identifying and reporting risks with a focus on solutions

Responsibility and Accountability

  • Ensure that good financial discipline is embedded in budget holders’ ways of working

  • Ensure statutory accounts and accounting returns are properly produced from accounting records in accordance with DH Government Accounting Manual and International Financial Reporting Standards (IFRS) in accordance with published timescales.

  • Work with the Trust’s external auditors and to ensure ‘clean’ audit opinions and the timely implementation of any audit recommendations.

  • Take responsibility for the provision of a strong financial accounting function to support the provision of accurate and timely financial information.  Ensure financial accounting and financial services (Accounts Payable, Accounts Receivable, Treasury) strongly support the provision of complete and accurate information.

  • Take responsibility for income and the income team across the Trust, including the responsibility for the development, implementation and maintenance of financial aspects of the Trust’s income strategy and reporting, including NHS Clinical Commissioning Group / specialised commissioning income, Research and Development and Education and Training. 

  • Agree commissioning contracts and participate in the evaluation and preparation of bids for new tenders in line with the Trust’s strategic objectives.

  • Be a leading member of the Trust’s Capital Investment Group and be responsible for the preparation and delivery of the Trust’s Capital Investment Programme and for ensuring that the plan reflects the level and type of investment needed in order to meet the Trust’s strategic and operational objectives and balance clinical priorities and risks against service improvement / development.

  • Take responsibility for ensuring there is sufficient cash to meet the needs of the Trust whilst achieving, insofar as possible, Public Sector Payment Policy requirements

  • Ensure adequate arrangements are in place to monitor value for money and track the achievement of procurement savings

  • Participate in the Trust’s negotiation of contracts and act as the liaison with the Trust’s lawyers on such matters

  • Ensure that standards of reporting, financial control and auditing apply to Charitable Funds as to the main functions of the organisation. These need to be applied in an effective and efficient manner in order to maximise the benefits to patients of the donations received.

  • Exercise a duty of care on behalf of the Trustees to ensure any expenditure falls within the terms of the trust deed and that the requirements of the law, of the Charity Commission and the HM Revenue and Customs are met.

Policy and Service Responsibility

  • Develop a high-quality patient level costing function and service line reporting, ensuring that costing information is made available to operational managers and clinicians in a user-friendly way, and ensure they are engaged in its interpretation, development and use for planning and managing services and improving use of resources – alongside model hospital and GIRFT data.

  • Develop, interpret and disseminate other sources of benchmarking information on the efficiency and effectiveness of services, such as NHS Benchmarking Network studies.

  • Ensure the maintenance of internal financial control and demonstrate an expert working knowledge of IFRS and emerging policy changes, and ensure that senior staff are up to date with such, while providing specialist technical support to other finance staff.

  • Demonstrate an up to date knowledge of UK taxation relating to Health Organisations and be expected to provide technical support to directors, senior managers and finance staff on taxation issues as they affect employees of the Trust and on VAT.

  • Ensure that robust policies and procedures are in place for the effective stewardship of the Trust’s assets and management of the Trust’s Capital Investment Programme within the Trust’s delegated limits.

  • Set and maintain effective credit control policies and ensure debtor levels and turnover do not exceed agreed limits

  • Set stock control policies and ensuring stock turnover levels are maintained

  • Advise the Chief Financial Officer on procurement matters and co-develop the Trust’s Procurement Strategy through the Trust’s Procurement Group and in liaison with the peninsula procurement service alliance.

  • Represent the Trust within the procurement alliance and contribute actively to the development of a shared procurement strategy

Responsibility for Finance, Equipment and Other Resources

  • Review and analyse highly complex business cases and recommend a course of action to the Trust Leadership Team, presenting the facts in a clear and concise manner. The review and analysis will include reference to VFM issues, Standing Orders and Standing Financial Instructions.

  • Ensure a high level of consistency and correlation between financial reporting and other data sources, including activity, performance and workforce.

  • Exercise your expert & professional judgement in the interpretation of the financial information and give advice to the Chief Finance Officer and Board committees based on that judgement.

  • Act as budget holder for the finance directorate including authorisation of expenditure and monitoring of budgets.

  • Ensure there are sufficient resources to finance the Capital Investment Programme, identify innovative sources of funding and, where necessary, apply for loan funding from the Department of Health, subject to the approval of the Trust Board.

  • Oversee the operation of bank accounts and the management of cash and investments (if relevant)

Responsibility for Supervision, Leadership and Management

  • Operate as a visible member of the Trust’s senior leadership team, establishing a collaborative working network and contributing to the delivery of corporate strategy and organisational objectives.

  • Provide advice and support to the Chief Finance Officer and to all those carrying management responsibilities within the Trust. Ensure technical information is explained in a style appropriate for the user.

  • Deputise for the Chief Finance Officer and represent the Trust as required to all levels including national bodies.

  • Demonstrate change leadership within finance and across the Trust, specifically the identification and implementation of best practices, and delivering a value for money service within primary area of responsibility, and leading by example.  Ensure that the finance team development programme is innovative and based on sound research, which you will lead.

  • Contribute to the business planning activities of the Trust and to the implementation of new initiatives.

  • Share in the responsibility for excellent communication with finance and procurement staff, the wider Trust and outside agencies.

  • Through your senior team and via delivery of hands-on training, provide support to all those with budgetary responsibility, to ensure that they can effectively exercise control.

  • Development and training of staff to facilitate the best possible care within available resources, embedding a culture of continuous improvement.

  • You should ensure that a programme of training and support for budget managers and clinicians in in place, to enable them to deliver their budgetary responsibilities.

Information Technology and Administrative Duties

  • Prepare reports to the Board and Trust’s managers to an agreed timetable on all key financial performance indicators, e.g. income and expenditure, activity, financial duties, balance sheet, capital, charitable funds, working capital and cash flow. Best professional practice should be used in presenting this information, making it clear, concise and action-oriented, supported by a suite of ‘lead indicators’ to give confidence in financial forecasts.

  • Develop Trust financial monitoring and reporting systems, including leading the implementation of an entirely new platform (Prevero).  Through leadership of the procurement directorate, ensure the timely and effective roll-out of digital stock management systems (Genesis) and ensure that these are embedded within day-to-day financial and operational working practices.

  • Review and maintain SFIs and internal financial control procedures to ensure these operate as designed and provide appropriate levels of assurance on accuracy, completeness, timeliness and counter-fraud measures. In conjunction with Internal Audit, conduct reviews to ensure that the financial control environment is operating effectively.

  • Ensure that strategic financial risks and opportunities are identified and properly validated and responded to.

  • Ensure the Chief Finance Officer, Chief Executive and Trust Leadership Team receive reports on the budgetary performance of the organisation. Such reports should give actual expenditure compared to income and also compared with budget to date and a forecast for the year based on budget managers’ projections. Express your judgement and interpretation of the figures providing advice to senior management on action being taken to resolve issues and whether any further action is needed.

Additional information

Read more about our Clinical Governance and Risk Management, Code of Conduct and other information relevant to the post.

Relocation Policy

The aim of this policy is to help those members of staff who are required to move residence in order to take up an appointment with the Trust.

Person Specification

Key: Essential (E); Desirable (D)

Qualifications and training

  • Educated to degree level. (E)

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

  • Professional CCAB or equivalent accountancy qualification (E)

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

  • Local Government finance experience (D)

  • Educated to Masters level (D)

Knowledge and skills

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

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

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

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

  • Sound political judgement and astuteness in understanding and working with complex policy, information and diverse interest groups (E)

  • Highly developed influencing skills: with senior health care professionals across the Health and care community and externally (E)

  • Detailed understanding of integrated care and in particular the continuing healthcare and adult social care regimes (D)

Special experience

  • Significant post qualification experience in a complex organisation (E)

  • Networking: being able to work within and outside the Trust with credibility in the STP and beyond (E)

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

  • Previous experience of staff training & development and performance management (E)

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

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

  • Significant post qualification experience in an NHS organisation of comparable complexity (D)

  • Experience of the NHS planning process and Payment by Results (D)

  • Knowledge of charity finance (D)

  • Experience of working in a financial (D)

  • turnaround situation (D)

  • Experience of restructuring and outsourcing corporate support services (D)

Personal requirements

  • Flexibility (E)

  • Agility (E)

  • Open-mindedness (E)

  • Resilience (E)

Other requirements

Online working including significant periods using visual display equipment.

Physical effort

Light or occasionally moderate physical work such as carrying equipment for workshop presentations, committee meetings etc. The role is primarily office and computer based in a sitting position. Physical effort beyond this and walking / travelling between various sites is not required.

Emotional effort

The role will require line management and interaction with colleagues in a variety of situations, including tight deadlines, performance management, and prolonged periods of concentration. The post holder will be required to maintain emotional strength and integrity in these situations to deliver an appropriate professional outcome.

Mental effort

The role will require frequent periods of intense concentration and mental agility, with numerical and non-numerical information in electronic and written form. Interaction is required with colleagues in a variety of situations. Strong influencing skills and mental resilience are required to maintain focus and deliver the main requirements of the role. The workload will be varied and possibly unpredictable so initiative is required to prioritise, resolve problems, undertake enquiries and obtaining information from other members of staff.

This job description is intended as an outline indicator of general areas of activity and will be amended in the light of the changing needs of the organisation. It will be reviewed in conjunction with the post holder on an annual basis.

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