Hosted Services Finance Manager

Swydd-ddisgrifiad a phrif gyfrifoldebau manwl

The Hosted Services Finance Manager manages a finance team which is responsible for financial advice, financial information and other financial
input (e.g. business planning, service level agreements, business development, costing and market testing) to services hosted by RWT including (but not limited to), Black Country Pathology Services and NIHR Clinical Research Network West Midlands.

• In support of decision making, to ensure that all information provided by the team is of a high professional standard is timely and accurate and that correct financial principles are adhered to.

• Responsible for the day-to-day management of the team, including recruitment and selection, appraisals, personal development, sickness absence policy and disciplinary issues, ensuring Trust HR policies are adhered to.

• Co-ordinate the team during the monthly management accounting process, ensuring the correct accounting treatment of provisions made, and that the strict reporting deadlines are adhered to. Delegate tasks as appropriate.

• Meet regularly with operational managers and budget holders to discuss the financial position and associated issues. Be satisfied that financial objectives are being met and ensure that action is being planned and implemented that will correct any adverse trends or meet specified cost reductions.

• Advise the services on a wide range of financial issues, including identifying cost improvement targets, income generation, costing of tenders and rebased establishments, service developments, financial management and business planning. To ensure that all financial proposals have been accurately costed, and that the services are aware of the full implications of the proposals.

• Prepare year end financial forecasts for departmental budgets incorporating all known and potential financial issues. Discuss and agree resultant figures with departments/directors and input to presentation of figures to Trust management and performance review process with external stakeholders.

• Ensure that business cases prepared by the departments are consistent with the strategy and have beneficial impact on the service efficiency, use of capacity and financial position. To provide the required financial input which will include a full and accurate financial analysis of the options available.

• Interpret Trust and National policy for implementation of relevant objectives.

• Attend regular meetings with the BCPS Operational Group Manager and Clinical Director, the CRN Chief Operating Officer and Chief Financial Officer to present and discuss the financial performance of  the services/ departments. To attend meetings with other Trust management to discuss financial issues as they arise.

• Be the financial lead for hosted services in the annual business planning and budget setting process. Ensure that all relevant issues are considered by managers (e.g. cost pressures, cost improvements plans, service developments), and that the financial implications have been fully costed and included in the business plan submission. Attend each round of budget setting meetings with members of Strategic Board to discuss the Business Plan, and provide financial support to the services/departments.

• Co-ordinate the reporting of the BCPS savings programme. Ensuring systems are in place for the timely and accurate production of
information.

• As the Trust develops or expands services and service provision the remit of the post may also change from time to time where services are linked or mutually beneficial (e.g. introduction of HPV testing within RWT, linked to BCPS).

• Liaising with other Finance Managers and senior finance staff to ensure that there is consistency in the approach taken to reporting financial data.

• Have lead responsibility for providing financial advice and information for hosted services partnership agreements and service levels agreements.

• Communicate financial issues to multi-disciplinary groups of staff and stakeholders. This will involve presenting complex financial information to non-financial people.

• Provide budget management training to a range of non-financial staff, ensuring all budget holders have received the appropriate level of
training and information.

• Be aware of and understand the Trust’s policies and procedures, Standing Orders and Standing Financial Instructions. To ensure they are brought to the attention of relevant managers. To report any non-compliance or potential non-compliance to Chief Finance Officer, Interviewer information pack as appropriate.

• To develop the use and understanding of Model Hospital and other benchmarking information within the services to support the achievement of efficiency changes. To ensure that relevant and accurate information is provided for the production of accurate Reference Costs and Service Line Reporting to all partner Trusts.

• To be responsible for co-ordinating the hosted services financial management team in accurate completion of the Trust final accounts
process, ensuring tasks are completed in line with the year-end timetable as required by the Financial Controller.

• To be an authorised signatory for BACS, cheques and other payments made from the department.

• To participate in departmental meetings, contributing to the Trust senior finance team and supporting other colleagues as appropriate.

• The post is a member of the senior finance team and as such will be expected to take a lead role in one aspect of training and development in the department e.g. apprenticeship liaison, Finance Skills Development lead or professional qualification lead.

• Ensure continuous professional development (CPD) in line with the accountancy Professional Bodies’ requirements. Remain appraised
of up-to-date relevant professional guidance and standards, and reflect this in day to day work. Be aware of NHS specific legislation and developments for inclusion in dayto day work, e.g. Payment by Results, Agenda for Change, Consultant Contracts, changes in
employer contribution costs.