Senior Finance Analyst
Job Description
Job summary
TheSenior FinanceAnalyst roleis responsible forgenerating and producing monthly budget statements and financial reports,in accordance withthe Trust agreed timetables and departmental policies and procedures under the line management of a Senior Business Support Analyst.
Alongside this, the post holder willbe responsible forinvestigating variances from plan by interrogating the Trust's financial systems and to summarise and report on these in monthly performance narratives.In addition, thepostholderwill providetimelyresource management information to the Budget Holders with which the role is linked and toassistin the provision of comprehensivefinancial managementinformation 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,forecastingand business planning process.
The role requiresgood communicationskills particularly in explaining finance to non-finance staff.
In providing specialist financial expertiseand leadership to the business there is an almost constant requirement for the post holder to exercise intense concentration and sustained mental effortin order toanalyse, understand,retainand 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.
Main duties of the job
The Senior Finance Analyst role is responsible forgenerating 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
About us
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.
Job responsibilities
Main Duties and Responsibilities
Leadership
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Be a role model in how to provide a customer focused,high-qualityservice to managers, directors,cliniciansand finance business partners
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Work with colleagues in Contracting, Income,Costingand information/performance management to ensure the Trust has coherent integrated information,analysisand plans.
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Develop andmaintainan understanding of the Trusts accounting processes and procedures and financial systems.
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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.
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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.
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Provide robust,accurateandtimelycore financial reports to meet internal and external month end/ year end deadlines.
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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 nationalguidanceand policy issues, etc and to provide them with clear guidance asappropriate.
Financial Reporting, BudgetSettingand Forecasting
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Produce annual income and expenditure base budget schedules for eachsubdivision/department assigned. Including providing prompt and professional advice to Budget Holders for service developments, cost pressures & cost improvement programmes
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Produce comprehensive, robust,accurateandtimelymonthly financial reports for each assigned directorate/department, covering:
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Income and Expenditure
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Variance Analysis
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Forecasts
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Integration of non-financial (manpowerand activity) information
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Narrative and audit trail reports
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Accurately prepare any specific internal & external recharges,accrualsand amendment journals for processing by the Financial Management Finance Analysts.
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Maintain and contribute to the development of detailed standard operating procedure notes in relation to the month end duties you undertake.
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Provide training and advice to budget holders and other finance colleaguesregardingfinancial managementissues arising out of variance and other ad hoc analysis.
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Implement audit recommendations asrequiredand ensure sound system of internal control ismaintained.
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Understand the Trusts standing financial instructions, procurement policies, auditrecommendationsand any other centrally issued guidance relating to financial control and bringpossible breachesof these policies to the attention of the Senior Finance Manager.
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Provide assistanceas 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.
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Attend directorate meetings and provide an explanation of financial performance with or without the support of the Senior Business Support Analyst
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Working with Senior Finance Analysts, Senior Finance Manager and Financial Business Partners to ensure the delivery ofaccurateandtimelyreporting of financial information toappropriate levelsof management.
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Cover otherSenior FinanceAnalyst roles whenrequired.
Training and Development
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Ensure you have a clear set ofobjectivesand development plans andparticipatein regular performance appraisal meetings.
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Identifytalent and support the internal talent management process in order attract andretainand succession plan.
Professional Responsibilities
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Maintain the integrity of the Trusts financial systems,proceduresand reports.
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Maintain professional standards within the Financial Management Information and Analysis team.
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Ensure that Standing Financial Instructions, Standing Orders, financialpoliciesand procedures are adhered to.
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Implement audit recommendations and continually working on improving financial practices throughout the trust.
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Contribute to the Finance Functions Continuous Improvement Programme
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Undertake Continuing Professional Development (CPD) in line with the relevant institute requirements.
People Management and Performance
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Lead,coachand manage the performance of the team in line with good people management practices. Ensuring excellence is recognised and underperformance is addressed.
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Participate in regular performance appraisal meetings and ensure each member of the team has a clear set ofobjectivesand development plans.
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Ensure ...
