Warning
This job advert has expired and applications have closed.
Finance Business Partner - Planned Care | Chelsea and Westminster Hospital NHS Foundation Trust
| Posting date: | 28 May 2024 |
|---|---|
| Salary: | Not specified |
| Additional salary information: | £78,163 - £88,884 per annum incl. HCAS |
| Hours: | Full time |
| Closing date: | 27 June 2024 |
| Location: | London, SW10 9NH |
| Company: | Chelsea and Westminster Hospital NHS Foundation Trust |
| Job type: | Permanent |
| Job reference: | 6324594/289-CR-1576 |
Summary
Finance Business Partner - Planned Care, Band 8c
An exciting opportunity has arisen within the finance team at Chelsea and Westminster Hospital NHS Foundation Trust.
The role requires a motivated and dedicated individual with excellent communication and interpersonal skills to work as the Finance Business Partner for our Planned Care Division.
You will be directly reporting to the Deputy Director of Finance (Financial Planning & Strategy) and line manage a Senior Finance Manager.
Our ideal candidate will have significant financial experience, good interpersonal and communication skills and the ability to work in a multi-disciplinary environment. The role requires good leadership and motivational skills and ability to interpret complex data for a range of stakeholders.
The Clinical Finance Business Partner will provide financial leadership for the identified services that form the Division, ensuring effective use of the Division’s financial resources in pursuit of agreed Division and Corporate goals. You will provide the Division with expert accounting and business knowledge, analytical support and clear presentation of financial and business information to clinical and non-clinical colleagues. Along with providing competitor and market analysis & benchmarking, you will lead the roll out of the business intelligence system across the Division, working closely with clinical and managerial colleagues and provide business intelligence support to the Divisional Board.
You will constructively and positively challenge all aspects of Divisional performance in order to reduce costs to best practice benchmarks without reducing quality. Along with advising the Division on appropriate costing structures and pricing policy for current and new businesses, you will act as the principle advocate for driving the improved use and potential benefits of Service Line Management.
The Clinical Finance Business Partner will be accountable to the Deputy Director of Finance – Financial Planning and Strategy for the Division’s adherence to statutory accounting requirements, Department of Health (DH) and Monitor accounting standards and Trust policies for internal control, corporate governance and reporting requirements.
Chelsea and Westminster Hospital NHS Foundation Trust is proud to be one of the top performing and safest trusts in England. We have two main acute hospital sites—Chelsea and Westminster Hospital and West Middlesex University Hospital, plus our award-winning clinics across North West London and beyond.
Finance
• To provide financial information, advice and support to the Division as part of the Divisional team to ensure that the financial position of the Division and the Trust is understood and that any potential financial problems are identified early enough for corrective action to be taken. The post holder must be capable of influencing the team to ensure achievement of the Trust’s and Division’s financial objectives.
• To provide the Deputy Director of Finance – Financial Planning & Strategy with the relevant information and expert analysis so that assurance can be gained that all relevant financial risks within the Division are reported.
• To have overall responsibility for all aspects of financial management within the Division in conjunction with the senior management team within the Division, including monitoring of performance and providing advice on corrective action as necessary.
• To provide analysis of the Division’s activity, income and cost drivers to establish profitability of service areas and benchmark against market and competitor analysis.
• To contribute to the streamlining of the Division’s business processes.
• To have overall responsibility for reporting the financial performance rating for the Division including self-assessment for financial governance ratings.
• To have overall responsibility for preparation and development of the Division’s financial forecast and the 3 year financial plan, providing reasoning and explanation to stakeholders of key assumptions and risks.
• Responsible for the development, negotiation and implementation of processes to allow recharging to other front-line Divisions supported by service agreements.
• To advise the Divisional team on government policy and legislative or regulatory changes, that may affect their income and expenditure, giving advice on how to counter any possible adverse effect. Also to advise on any legislation or regulatory changes that may result in higher costs or savings for the Trust.
• To design and develop appropriate Key Performance Indicators and their monitoring mechanisms with the Divisional Director of Operations and Chief Financial Officer and other managers to be able to report to the Trust on key performances affecting finance (to include coding, income, activity drivers, SLR)
• Using Service Line Reporting to engage clinicians and other Division staff and developing efficient and high quality clinical services. This will involve taking the lead role in the Division to ensure the principles of Service Line Management are embedded within the Division and developing and maintaining strategies and operational processes which support effective financial governance and management e.g. leading ‘deep dive’ SLR reviews.
• Working with the central information and contracts teams to use and turn hospital data into intelligence that facilitates the Division’s ability to improve clinical processes and efficiency.
• Provide financial analysis and expert guidance/recommendations for proposed Divisional service developments. Ensure financial implications of each case are fully represented and understood. Carry out detailed cashflow, value for money, affordability, profitability, and sensitivity analyses, and ensure the implications of each are clearly communicated to appropriate audiences.
• To have overall responsibility for the development and maintenance of the Division Cost Improvement Plan.
• Provide expert advice on cost saving proposals, testing assumptions, agreeing financial scope, calculating and risk rating proposed benefits, and developing methods to track and report on the realisation of savings. Provide expert advice and recommendations on how to rectify any slippage on proposed savings schemes.
• Use specialist professional knowledge of the Divisional finances and analysis of appropriate benchmarking information to recommend areas for potential cost savings and efficiencies. Lead on delivery of CIP schemes where appropriate, liaising with General Managers and Clinicians to agree actions and timescales.
• Lead on financial validation and ongoing, timely monitoring, reporting, and forecasting of all Divisional and allocated Trust-Wide CIP schemes. Provide clear analysis of any divergence from plans and the expected financial impact of any agreed mitigating actions.
• To develop activity assumptions to develop NHS contract income forecasts working closely with the Financial Planning team.
• To ensure that Divisional managers are fully supported to access reporting tools to review Financial Management and Service Line Reports.
• To provide leadership and overall responsibility in Divisions for ensuring best value Procurement, analysis of Procurement data and development of the Procurement work plan working closely with the Procurement team
• To increase the financial capability of Division management teams through the provision of financial awareness training and continuous support for budget managers and service leads
• To provide input as required to the Trust’s statutory financial reports.
Clinical Engagement
• To ensure that Clinicians within the Division are fully involved in all aspects of financial management
• The post-holder will ensure that staff are fully engaged in the process of change management, and in particular, that Clinicians are fully involved at the forefront of service improvement projects.
• To ensure that mechanisms are in place to discuss service improvement initiatives with Clinicians and to monitor the effectiveness of actions taken as a result of such discussions.
• To ensure that information is made available to Clinicians to enable them to play an active part in the development of Division services.
Division Operational Management
• To take collective responsibility with the Division Management team for delivering the financial performance and governance ratings required.
• To take collective responsibility with the Division Management team for developing a maintaining a robust and viable 3 year financial plan
• To take collective ownership with the Division Management team in ensuring that service developments are made in accordance with delegated approval limits and within the Division’s 3 year plan
• To represent the Divisional Director of Operations and General Managers in various internal and external meetings and seminars as and when required.
Strategy & Planning
• Provide financial leadership throughout the annual business planning process. Lead the development of detailed and integrated financial model incorporating income, expenditure, workforce, activity and capacity plans for the division.
• Develop, update, and provide analysis/justification on the Division’s underlying financial position, identifying risks, non-recurrent benefits/charges, full year effects, and other adjustments.
• To influence strategic planning and provide challenge to the Division management team. The post holder will communicate highly sensitive, complex and contentious information and will need to influence the team to ensure that services are planned in line with the strategic direction of the Trust. Highly developed communication skills and political awareness are necessary to the successful functioning of this role.
• To take overall responsibility for financial planning within the overall Division business plan and compliance with the business case process
• To support the Division Management team in developing and maintaining a marketing strategy for services aimed at maximising income to the Division
• Provide financial analysis and expert guidance/recommendations on tenders aimed at expanding or protecting the Division’s current activities. Develop bespoke financial models that deliver predicted activity, income and expenditure positions from assumptions in the tender documentation and input from management and clinical staff. Carry out detailed cashflow, value for money, affordability, profitability, and sensitivity analyses, and ensure the implications of each are clearly communicated to appropriate audiences. Provide financial input and into the final bid document and any associated presentations.
This advert closes on Tuesday 11 Jun 2024