Senior Finance Analyst

Job overview

This is an exciting time to join the finance team, as we have recently implemented a new finance system to modernise and move towards best in class. This is especially true in the areas of business partnering where we want to provide a high-quality financial service to our operational colleagues.

The successful candidate will be joining our friendly Financial Management team and will be accountable to the Head of Financial Management. The post-holder will work closely with their Finance Business Partner in delivering a world class finance service to their division including timely and accurate delivery of financial performance, insightful variance analysis, forecasting and PQP analysis.

The role will also be involved in the annual budget setting process, provide ongoing support and direction for their budget holders including detailed transactional analysis.

They will also be involved in ad-hoc projects and reports including (but not limited to) service developments and business cases, financial advice and longer-term financial planning.

This is a 6 month fixed term contract.

Main duties of the job

• Assist the Finance Business Partners in the provision of an expert and complete professional financial service to their divisions and specialities.
• Provide expert financial advice, guidance and training on budgetary management and budget setting to Budget Holders within the allocated Division.
• Provide monthly budget statements and financial reports analysing variances and trends in accordance with the Trust reporting timetables.
• Deputise for the Finance Business Partner (FBP) in their absence including attendance at divisional/specialty Boards and presentation of relevant Finance Reports.
• Be responsible for the preparation of robust forecasts and consolidated financial monthly performance reports analysing trends and variances for presentation at relevant specialty Finance meetings.
• Be responsible for managing the production of budget reports from the ledger, investigation of variances from plan and ensuring that action on changes required is taken and maintaining adherence to the Trust monthly reporting timetable. Ensure that a customer focused service is delivered to each area, maintaining the highest possible levels of customer support.
• Ensure that rigorous financial control is implemented and controlled across the Specialty for both expenditure and WTE’s.
• Be fully involved in the development of costing and pricing models as the Trust moves into a demanding environment together with support for the realisation of benefits and clinical efficiencies from new capital projects and other areas.
• Be responsible for ensuring that all specialty SLAs are signed off in accordance with Trust policy and that all recharges both inward and outward are robustly managed.
• Be responsible for the setting of the specialty Budgets in consultation with the FBP and Budget Holders.
• Be fully involved in financial planning including the identifying cost pressures and opportunities to reallocate budgets alongside the specialty General Managers. Ensure that income opportunities are maximised.
• Develop, with the specialty clinical and operational managers, Patient, Quality and Productivity (PQP) initiatives and be responsible for monitoring performance and delivery against these programmes.
• Provide expert and specialist knowledge and be responsible for the continued implementation and development of the Trust Payment by Results (PbR) and Agenda for Change (AfC) policies and any other DOH initiatives.
• Assist with the development and implementation of Service Line Reporting (SLR) and Patient Level Costing (PLiCs) within the division.
• Be responsible for ensuring that the Specialty are educated and informed as to the potential income consequences of activity plans and that outcomes are communicated as appropriate.

Detailed job description and main responsibilities

• Assist the Finance Business Partners in the provision of a complete professional financial service to each division, including preparation of consolidated financial monthly performance reports, forecasts, analysing trends and variances in accordance with the Trust monthly financial timetable.
• Be responsible for the maintenance of strong financial controls in the allocated Specialty in line with Trust SFI for both expenditure and WTE. Provide training and guidance to Budget Holders in budgetary management and the maintenance of the Trust Budget Management Policy and SFI and SO compliance. Advise on best practice for procurement to ensure efficiency. Include responsibility for the specialty budget management training.
• Ensure that all specialty income sources are identified and income agreements for SLA’s salary recharges etc are signed off in accordance with Trust policy and timetables.
• Support the Finance Business Partners in applying the costing and pricing system to SLA’s, financial appraisal and business planning and be responsible for the maintenance and continuous improvement of the specialty costing and pricing systems.
• Be responsible for the development and implementation of Service Line Reporting (SLR) within the Specialty, in consultation with the Finance Business Partners and the Trust’s Income & Commissioning Team.
• Have responsibility to undertake periodic reviews of the financial controls within the Directorate and prepare reports and risk assessments based on information gathered.
• Meet regularly with specialty Budget Holders and to provide information and analysis to them. In addition to support the communication of information between them and the specialty management accountants and other departments within Finance.
• Be responsible for the financial planning and implementation to achieve the objectives in the Trust and specialty Annual Plan and to take responsibility for specific projects e.g. business cases for benefits realisation and budget setting for the Specialty. Be responsible for the financial planning to identify the specialty efficiency initiatives and to agree this framework with the specialty Boards. Ensure timely monitoring and reporting for these programmes against the agreed plan.
• Be responsible for the financial planning to enable the Specialty to implement major capital developments and realising benefits arising from these investments and the planning and costing for the specialty capital bids. Prepare costing models and business cases for proposed developments and projects within the agreed timetable.
• Take overall responsibility for providing a full financial advice service to a department of the specialty.
• Support the Finance Business Partners in financial training and accreditation of Budget Holders in line with Trust approved policy.
• Prepare costing models for proposed developments and projects applications within the agreed timetable.
• Resolve queries from Finance, Budget Holders and other Internal and External staff regarding financial management matters with minimal supervision.
• Comply with the requirements of the Data Protection Act with regard to the confidentiality of personal information and patient confidentiality.
• Undertake any other duties as required which are consistent with the grade and nature of the post.
• Promote and lead by example the professional standards set by the Finance Directorate.
• Assist in the production of the monthly management accounts.

Strategic Responsibilities

• Be responsible for the ongoing development of the professional financial service delivered to the allocated Specialty and to implement in full any recommendations from the Trust board to further enhance the delivery of financial advice and support.
• Continuously improve and develop the finance team customer focused service to the allocated Specialty ensuring that at all times the team is striving to achieve the highest levels of customer service performance.
• Be responsible for the development of a costing and pricing system in the Specialty including the preparation of internal costing of Trust services to include PbR and HRG Reference Costs.
• Be responsible for costing Trust services and highlighting the efficiency of the directorate under PbR.
• Develop and implement fully devolved budgets in line with the Trust budget management policy and contribute to the development of a more commercially focused culture in the Directorate.
• Support the key elements of the Trust and Specialty Annual Plans.
• Assist in the development of the Trust Budget Holder financial training and accreditation process.
• Monitor and report on progress against the Patient, Quality and Productivity (PQP) programmes.
• Support the specialty through changes in the financial regime of the NHS.
• Provide expert and specialist knowledge and be responsible for the continued implementation and development of the Trust Payment by Results (PbR) and Agenda for Change (AfC) policies and any other DOH initiatives.
• Assist with the development and implementation of Service Line Reporting (SLR) and Patient Level Costing (PLiCs) within the division.

This job description may be subject to change according to the varying needs of the service. Such changes will be made after discussion between the post holder and the manager. All duties must be carried out under supervision or within Trust policy and procedure.

The job description is not intended to be exhaustive and it is likely that duties may be altered from time to time in light of changing circumstances.

The post holder might be required to work across the Trust at any time throughout the duration of his/her contract, which may entail travel and working at different locations.

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