Job responsibilities
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Management & LeadershipProvide direct support to the Head of Financial Planning and Innovation in development of the 3 & 10 year financial plan, specifically leading on the development of models for financial outlook scenarios.To lead on certain aspects of the annual budget setting process through the provision of financial plan construction and reconciliation, and ensuring the annual plan is accurately and fully reconciled to the Health Boards general ledger.To lead and deliver certain aspects of the monthly reported financial position, for review by the Head of Financial Planning & Innovation, to include the preparation of financial data presentations that outline the Health Boards financial performance.To lead on the management of the Health Board contingency and reserves, including ensuring Welsh Government allocations are correctly accounted for and reported in the monthly monitoring reports.To lead on the maintenance of the finance plan, specifically the coordination of the monthly monitoring of the Health Board savings plans. To include preparation of the statutory MMR returns to Welsh Government.To lead on the completion of key information required for the monthly monitoring return submission, liaising with Business Partner teams, Workforce colleagues and Planning teams to confirm the accuracy of the information reported.To lead on the completion of key notes within the Statutory Annual Accounts, providing clear and concise working papers to facilitate the audit of the accounts.Provide leadership that encourages a culture of continuous improvement and professional excellence, and empowerment of team members to perform to high standards and innovate.Communication & RelationshipEnsure the Financial Planning function provides a service that is responsive to its customers; these include other finance functions (Business Partner Accountant (BPA)teams, Central Management Accounting (CMA) and Financial Accounts), WG and the NHS Executive, and all budget holders within the organisation.Work collaboratively with BPA teams to establish mechanisms to ensure customer views are received, feedback is reviewed, and Financial Planning practices are adapted if required.Build strong relationships and regularly communicate with the senior finance team at the Welsh Government, and also the internal Business Partner Accountants, Workforce and Information colleagues, Planning teams and Divisional managers, to:oSupport and advise on WG funding allocations, particularly when the information is highly complex and contentious;oAssist the Finance teams and Divisions in turning policy aspirations into reality in an affordable way, by aligning financial planning with the vision for the Health Board and its strategic objectives;oProvide expert advice and opinion with regards any barriers to understanding of the allocation process, and implementation via the Financial Plan; andoMaintain and update the annual financial planProvide leadership and direction across situations where highly complex ideas or concepts need to be conveyed and implemented across the organisation in easily understood language.Analytical and Judgment SkillsUsing well developed reporting skills and experience of the WG allocation process, the post holder will be responsible for providing the Assistant Director of Finance with a monthly report on the Health Boards confirmed and anticipated revenue allocation. This will provide a key contribution to the Health Boards monthly reporting of its financial position, both internally and externally (to WG) taking into account:-oThe funding assumptions built into the financial plan at any given point in time,oThe position on delegated budgets throughout the organisation and the impact any outstanding funding issues may haveoThe level of contingency and reserves being held.Work closely with the Head of Strategic Finance & Innovation, on planning and managing resource allocation processes, ensuring that the financial and risk implications of policy initiatives are understood, analysed and options evaluated.Exercise specialist knowledge across a range of managerial work procedures and practices underpinned by theoretical knowledge and practical experience.Create reports from internal and external sources that allow evaluation and interpretation of the extracted information.Planning and OrganisingPlan and organise the Financial Planning functions and key roles to deliver monthly financial reporting to meet Health board and Welsh Government statutory requirements, ensuring flexibility and adequate cover arrangements are available to effectively respond to any unforeseen circumstances. This will involve ensuring efficient cover is provided and the drive for continuous improvement is met. Adjust plans as required to meet changing external requirements, growth in workload or workforce availability.To plan and prioritise own work within broad parameters, ensuring effective support to all areas and delivery of key objectives and deadlines. In doing so balancing routine work to internally or externally agreed deadlines, whilst progressing medium term objectives and responding to ad hoc queries.To lead on the planning and organising of:oThe monthly reports to WG relating to income and allocations,oThe monthly reconciliations of the financial plan to the ledger,oecurrent impacts of any income receipts or budget allocations, ensuring they are recorded appropriatelyThe post holder will also be the lead in developing and maintaining an ABHB wide savings matrix; understanding the many complex strands of savings plans and strategies across the spectrum, and distilling this into an understandable model and format for reporting to the Executive Team.The post holder will also support the Head of Financial Planning & Innovation to:oDevelop and construct a medium term revenue financial plan for the Health Board.oDevelop financial planning models to scenario plan a range of future financial and funding options. Provide sensitivity analysis to these options.oEnsure that the LHBs financial, business and service planning is fully integrated so that it aligns resources to meet current and future service objectives and priorities.The post holder will also lead on:oWorking closely with the Head of Business Intelligence to use outcomes of benchmarking work to develop future financial plans.oFinancial planning projects to develop new ways of working in line with the emerging national and local strategies and business plans.Lead responsibility will also be given to ensuring the current year financial plan is maintained, ensuring that any recurrent issues are built into the following medium term plan.Provide the organisation with impartial professional advice and meaningful financial analysis and interpretation, to enable the development of strategy, planning, decision making and control.Ensure that changes implemented, and the policies written, and concepts developed are in line with latest Welsh Government guidelines and best practicesPolicy and Service DevelopmentResponsible for a range of policy implementation and policy & service development for the Health Board.Implementation of a range of policy initiatives to deliver upon the Health Boards agenda for continuous improvement.Work closely with the Division of Planning to ensure all plans and service changes are fully analysed and benchmarked.Summarise documents and analyse data from a range of sources to develop options and risks and opportunities to develop services, working in partnership with stakeholders.Responsibilities for Financial and Physical ResourcesSupport senior managers in management of the Health Boards revenue income budgets (c£1.6bn).Ensure that all allocations due from WAG are received, correctly accounted for and accurately reported as part of the overall Health Boards reporting of its financial position at any point in time.Ensure robust systems of governance (financial, staff, audit and information) and risk management are adhered to.Lead by example in the promotion and delivery of good financial management, so that the Health Boards resources are safeguarded, used appropriately, economically, efficiently and effectively.Responsibility for Human ResourcesTo manage the Financial Management Accountant and be responsible for ensuring an effective system of performance management, including appraisal and personal development, for all direct reports and their staff, including active succession and workforce planning.To work with the Human Resources team in ensuring that robust HR policies and processes are in place in all areas of operational responsibility.Ensure that direct line report is working to competencies which are regularly assessed and appropriate to the service in line with Agenda for Change and the Knowledge and Skills Framework.Ensure staff are motivated to deliver high quality services to agreed objectives and are fully engaged in proactive personal development in order to reachtheir potential.Responsibility for Information ResourcesThe post holder will be required to regularly produce complex reports and give presentations based on a range of information, from a variety of sources.Writing and presenting reports to a wide range of groups possibly including the LHB Board and Local and National groups, as required.Responsibility for R&DThe post holder will assist the Head of Financial Planning in respect of :oThe financial planning departmental qualitative and quantitative audits, to evaluate the impact of the services provided, and relevant research to inform future service improvements.
