The Senior Finance Analyst role is responsible for generating and producing monthly budget statements and financial reports, in accordance with the Trust agreed timetables and departmental policies and procedures under the line management of a Senior Business Support Analyst.
Alongside this, the post holder will be responsible for investigating variances from plan by interrogating the Trust’s financial systems and to summarise and report on these in monthly performance narratives . In addition, the postholder will provide timely resource management information to the Budget Holders with which the role is linked and to assist in the provision of comprehensive financial management information and advice to a range of areas within the Trust.
The role will include meeting budget holders to support the Finance Business Partners and Senior Support Analysts in the budgeting, forecasting and business planning process.
The role requires good communication skills particularly in explaining finance to non-finance staff.
In providing specialist financial expertise and leadership to the business there is an almost constant requirement for the post holder to exercise intense concentration and sustained mental effort in order to analyse, understand, retain and convey information.
There is a frequent need for the post holder to prioritise and re-prioritise workloads according to the demands of stakeholders and to meet financial deadlines.
The Senior Finance Analyst role is responsible for generating and producing monthly budget statements and financial reports, in accordance with the Trust agreed timetables and departmental policies and procedures under the line management of a Senior Business Support Analyst.
The post holder will be responsible for investigating variances from plan by interrogating the Trust’s financial systems and to summarise and report on these in monthly performance narratives. In addition, the postholder will provide timely resource management information to the Budget Holders with which the role is linked and to assist in the provision of comprehensive financial management information and advice to a range of areas within the Trust.
The role will include meeting budget holders to support the Finance Business Partners and Senior Support Analysts in the budgeting, forecasting and business planning process
The Trust provides a full range of local and specialist services across its five sites. The trust-wide strategy of Strong Roots, Global Reach is our Vision to be BOLD, Brilliant people, Outstanding care, Leaders in Research, Innovation and Education, Diversity, Equality and Inclusion at the heart of everything we do. By being person-centred, digitally-enabled, and focused on sustainability, we aim to take Team King’s to another level.
We are at a pivotal point in our history and we require individuals who are ready to join a highly professional team and make a real, lasting difference to our patients and our people.
King’s is committed to delivering Sustainable Healthcare for All via our Green Plan. In line with national Greener NHS ambitions, we have set net zero carbon targets of 2040 for our NHS Carbon Footprint and 2045 for our NHS Carbon Footprint Plus. Everyone’s contribution is required in order to meet the goals set out in our Green Plan and we encourage all staff to work responsibly, minimising their contributions to the Trust’s carbon emissions, waste and pollution wherever possible.
Main Duties and Responsibilities
Leadership
Be a role model in how to provide a customer focused, high-quality service to managers, directors, clinicians and finance business partners
Work with colleagues in Contracting, Income, Costing and information/performance management to ensure the Trust has coherent integrated information, analysis and plans.
Develop and maintain an understanding of the Trust’s accounting processes and procedures and financial systems.
Support the implementation of actions in response to recommendations from Internal Audit for the enhancement of internal controls and procedures in own areas of responsibility.
Develop a comprehensive knowledge of national accounting standards and a good understanding of financial and other NHS legislation, NHS finance policies and initiatives relating to the NHS financial regime.
Provide robust, accurate and timely core financial reports to meet internal and external month end/ year end deadlines.
Ensure strong relationships and regular communications with all Trust finance managers to ensure they are informed of any data quality issues relating to the financial position of the Trust, new national guidance and policy issues, etc and to provide them with clear guidance as appropriate .
Financial Reporting, Budget Setting and Forecasting
Produce annual income and expenditure base budget schedules for each subdivision /department assigned. Including providing prompt and professional advice to Budget Holders for service developments, cost pressures & cost improvement programmes
Produce comprehensive, robust, accurate and timely monthly financial reports for each assigned directorate/department, covering:
Income and Expenditure
Variance Analysis
Forecasts
Integration of non-financial ( manpower and activity) information
Narrative and audit trail reports
Accurately prepare any specific internal & external recharges, accruals and amendment journals for processing by the Financial Management Finance Analysts.
Maintain and contribute to the development of detailed standard operating procedure notes in relation to the month end duties you undertake.
Provide training and advice to budget holders and other finance colleagues regarding financial management issues arising out of variance and other ad hoc analysis.
Implement audit recommendations as required and ensure sound system of internal control is maintained .
Understand the Trust’s standing financial instructions, procurement policies, audit recommendations and any other centrally issued guidance relating to financial control and bring possible breaches of these policies to the attention of the Senior Finance Manager.
Provide assistance as necessary to line managers and divisional managers with respect to calculations that underpin the formulation of cost improvement programmes and financial schedules incorporated within business cases.
Attend directorate meetings and provide an explanation of financial performance with or without the support of the Senior Business Support Analyst
Working with Senior Finance Analysts, Senior Finance Manager and Financial Business Partners to ensure the delivery of accurate and timely reporting of financial information to appropriate levels of management.
Cover other Senior Finance Analyst roles when required .
Training and Development
Ensure you have a clear set of objectives and development plans and participate in regular performance appraisal meetings.
Identify talent and support the internal talent management process in order attract and retain and succession plan.
Professional Responsibilities
Maintain the integrity of the Trust’s financial systems, procedures and reports.
Maintain professional standards within the Financial Management Information and Analysis team.
Ensure that Standing Financial Instructions, Standing Orders, financial policies and procedures are adhered to.
Implement audit recommendations and continually working on improving financial practices throughout the trust.
Contribute to the Finance Function’s Continuous Improvement Programme
Undertake Continuing Professional Development (CPD) in line with the relevant institute requirements.
People Management and Performance
Lead, coach and manage the performance of the team in line with good people management practices. Ensuring excellence is recognised and underperformance is addressed.
Participate in regular performance appraisal meetings and ensure each member of the team has a clear set of objectives and development plans.
Ensure the team is compliance with all statutory, mandatory training together with any professional training requirements, ensuring they are up to date and fully compliant.
Manage team absences including sickness in line with Trust policy ensuring the appropriate return to work meetings occur, e-roster is updated, and productivity is at keep to the highest possible level.
Identify and fill any vacancies that arise within the team in line with the Trust’s recruitment policy and process.
Identify talent and support the internal talent management process in order attract and retain and succession plan for your people.
Review skills mix at regular intervals in order to identify any potential opportunities to maximise resource utilisation / allocation, ensuring job descriptions are kept up to date.
Ensure overall wellbeing of the team is maintained . Continuously support in improving the morale of the team and implementing a culture of zero-tolerance for bullying and harassment.
General
The post holder has a general duty of care for their own health, safety and wellbeing and that of work colleagues, visitors and patients within the hospital, in addition to any specific risk management or clinical governance accountabilities associated with this post.
To observe the rules, policies, procedures and standards of King's College Hospital NHS Foundation Trust together with all relevant statutory and professional obligations.
We want to be an organisation where everyone shares a commitment to delivering the very best care and feels like their contribution is valuable and valued.
To be responsible, with management support, for their own personal development and to actively contribute to the development of colleagues.
This job description is intended as a guide to the general scope of duties and is not intended to be definitive or restrictive. It is expected that some of the duties will change over time and this description will be subject to review in consultation with the post holder.
All employees must hold an 'nhs.net' email account which will be the Trust's formal route for email communication.
Everyone is responsible for promoting inclusion no matter their role or team . At King’s, we want to create an environment where everyone feels valued, respected and welcomed
Safeguarding
The Trust takes the issues of s afeguarding c hildren, a dults and addressing d omestic a buse very seriously. All employees have a responsibility to support the organisation in our duties by :
attending mandatory training on safeguarding children and adults
familiarising themselves with the Trust's processes for reporting concerns
reporting any safeguarding child or adult concerns appropriately
Infection Control Statement
The post holder has an important responsibility for and contribution to infection control and must be familiar with the infection control and hygiene procedures and requirements when in clinical areas.
The post holder has an important responsibility for and contribution to make to infection control and must be familiar with the infection control and hygiene requirements of this role.
These requirements are set out in the National Code of Practice on Infection Control and in local policies and procedures which will be made clear during your induction and subsequent refresher training . These standards must be strictly complied with at all times .
