Job summary
The role has been designed specifically with the objective of providing the post holder with the relevant qualifications, practical experience, and support to progress from band 5 to band 6 across an agreed period (dependent on the experience and completion of professional accountancy qualification of the successful candidate).
Financial Analyst(/progression to Senior Financial Analyst) will be an integral part of the Division, providing high quality and timely financial advice and support to multidisciplinary Divisional and Directorate teams (including clinicians, ward managers and budget holders) to enable the delivery of the Hospital's financial objectives:
- Generating and producing monthly budget statements and financial reports, in accordance with the Trust agreed timetables and departmental policies and procedures.
- To participate in and co-ordinate the setting of the Hospital Directorates revenue budgets
- To assist in the training of budget holders and managers in budgetary management and control.
- To assist in the training and development of individuals within MI&A team.
- The post holder will provide support to the divisional Finance Business Partner and senior MI&A team as part of both business-as-usual financial reporting and specific projects.
- Cross-divisional working will be a key part of this role and the post-holder will be required to
Undertake regular or ad-hoc pieces of work across the Trust.
Main duties of the job
Financial Objectives:
- Generating and producing monthly budget statements and financial reports, in accordance with the Trust agreed timetables and departmental policies and procedures.
- To participate in and co-ordinate the setting of the income budgets
- To assist in the training of budget holders and managers in budgetary management and control.
- To assist in the training and development of individuals within MI&A team.
- The post holder will provide support to the Finance Business Partner - Income and senior MI&A team as part of both business-as-usual financial reporting and specific projects.
- Cross-divisional working will be a key part of this role and the post-holder will be required to undertake regular or ad-hoc pieces of work across the Trust.
- Working in conjunction with the Costing analyst to allow a sharing of knowledge, processes and experiences.
About us
King's College Hospital NHS Foundation Trust is one of the UK's largest and busiest teaching Trusts with a turnover of c£1 billion, 1.5 million patient contacts a year and more than 15,000 staff based across South East London. 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 description
Job 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 MI&A, Contracting, Costing and information/performance management to ensure the Trust has coherent integrated information, analysis and plans.
- Develop and maintain an understanding of the Trusts accounting processes and procedures and financial systems.
- Lead 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.
- Ensure that robust, accurate and timely core financial data is provided that meets internal and external month end/ year end deadlines.
- Develop 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 Management and Analysis
- Review financial transactions to ensure that they have been correctly processed and recorded to meet audit requirements.
- Leading on invoicing commissioners and funders, maintaining databases, producing reconciliations and resolving queries.
- Participate in the NHS agreement of balances exercise, preparing schedules and resolving queries.
- Manage the monthly reconciliation of budget movements, forecast movements and balance sheet. Assisting with the upload of budget journals.
- Manage the monthly reconciliation of cash, remittances and income plan.
- Ensure that the income payment schedules are reconciled on a monthly basis to ensure that errors are corrected at source in a timely manner.
- Manage the income recoding, accrual, prepayment, recharge and amendment journals processes to ensure that these are actioned accurately and in a timely manner, and that the suitable supporting documentation is maintained.
- Oversee the raising of invoices as requested ensuring these are accurately coded.
- Support with the provision of monthly reports to Finance Business Partners and the wider team to support the month end and year end processes.
- Ensure that key processes have an accurate procedure note that can be interpreted by both finance and non-finance colleagues
- Support the Costing team with:
- Patient Level Information Costing System (PLICS) model updates and reconciliations
- Provision of activity-based costing reports to key stakeholders
- Bespoke costing projects, related to service developments, service reviews or data quality improvements.
- Care Group Contribution (aka Service Line Reporting) journaling & reconciliations.
- Translation and reconciliation of GL values to meet national costing requirements.
Job description
Job 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 MI&A, Contracting, Costing and information/performance management to ensure the Trust has coherent integrated information, analysis and plans.
- Develop and maintain an understanding of the Trusts accounting processes and procedures and financial systems.
- Lead 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.
- Ensure that robust, accurate and timely core financial data is provided that meets internal and external month end/ year end deadlines.
- Develop 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 Management and Analysis
- Review financial transactions to ensure that they have been correctly processed and recorded to meet audit requirements.
- Leading on invoicing commissioners and funders, maintaining databases, producing reconciliations and resolving queries.
- Participate in the NHS agreement of balances exercise, preparing schedules and resolving queries.
- Manage the monthly reconciliation of budget movements, forecast movements and balance sheet. Assisting with the upload of budget journals.
- Manage the monthly reconciliation of cash, remittances and income plan.
- Ensure that the income payment schedules are reconciled on a monthly basis to ensure that errors are corrected at source in a timely manner.
- Manage the income recoding, accrual, prepayment, recharge and amendment journals processes to ensure that these are actioned accurately and in a timely manner, and that the suitable supporting documentation is maintained.
- Oversee the raising of invoices as requested ensuring these are accurately coded.
- Support with the provision of monthly reports to Finance Business Partners and the wider team to support the month end and year end processes.
- Ensure that key processes have an accurate procedure note that can be interpreted by both finance and non-finance colleagues
- Support the Costing team with:
- Patient Level Information Costing System (PLICS) model updates and reconciliations
- Provision of activity-based costing reports to key stakeholders
- Bespoke costing projects, related to service developments, service reviews or data quality improvements.
- Care Group Contribution (aka Service Line Reporting) journaling & reconciliations.
- Translation and reconciliation of GL values to meet national costing requirements.
Person Specification
Qualifications
Essential
- Educated to at least AAT Member level, degree level or have an equivalent level of experience and be actively studying towards a recognised CCAB qualification
Desirable
Experience
Essential
- Experience working in a finance department of which some time should have been spent in a management accounting role.
- Experience of using general ledger and financial software packages
Desirable
- Direct line management of staff
- Experience in using Oracle
Knowledge and Skills
Essential
- A good working knowledge and understanding of the general ledger for recording transactions and reconciliation purposes.
- A good working knowledge of accounting sub-systems including debtors and creditors.
Person Specification
Qualifications
Essential
- Educated to at least AAT Member level, degree level or have an equivalent level of experience and be actively studying towards a recognised CCAB qualification
Desirable
Experience
Essential
- Experience working in a finance department of which some time should have been spent in a management accounting role.
- Experience of using general ledger and financial software packages
Desirable
- Direct line management of staff
- Experience in using Oracle
Knowledge and Skills
Essential
- A good working knowledge and understanding of the general ledger for recording transactions and reconciliation purposes.
- A good working knowledge of accounting sub-systems including debtors and creditors.
Disclosure and Barring Service Check
This post is subject to the Rehabilitation of Offenders Act (Exceptions Order) 1975 and as such it will be necessary for a submission for Disclosure to be made to the Disclosure and Barring Service (formerly known as CRB) to check for any previous criminal convictions.
Applications from job seekers who require current Skilled worker sponsorship to work in the UK are welcome and will be considered alongside all other applications. For further information visit the UK Visas and Immigration website (Opens in a new tab).
From 6 April 2017, skilled worker applicants, applying for entry clearance into the UK, have had to present a criminal record certificate from each country they have resided continuously or cumulatively for 12 months or more in the past 10 years. Adult dependants (over 18 years old) are also subject to this requirement. Guidance can be found here Criminal records checks for overseas applicants (Opens in a new tab).
Additional information
Disclosure and Barring Service Check
This post is subject to the Rehabilitation of Offenders Act (Exceptions Order) 1975 and as such it will be necessary for a submission for Disclosure to be made to the Disclosure and Barring Service (formerly known as CRB) to check for any previous criminal convictions.
Applications from job seekers who require current Skilled worker sponsorship to work in the UK are welcome and will be considered alongside all other applications. For further information visit the UK Visas and Immigration website (Opens in a new tab).
From 6 April 2017, skilled worker applicants, applying for entry clearance into the UK, have had to present a criminal record certificate from each country they have resided continuously or cumulatively for 12 months or more in the past 10 years. Adult dependants (over 18 years old) are also subject to this requirement. Guidance can be found here Criminal records checks for overseas applicants (Opens in a new tab).
